Feb 5, 2019

Anadarko Petroleum Misses 4Q18 Earnings Estimate But Promises Cash Flow Neutrality at $50 oil

By Eddie Gunn

Anadarko Petroleum has posted Q4-2018 earnings of $0.38 per share, missing analysts’ consensus earnings estimate by a wide margin of $0.23 per share, thanks in large part to weak prices and high costs.

Anadarko Petroleum said its sales volume increased by 10% to 701,000 boe per day from the year-ago quarter. For 2019, the company expects to grow total sales to 260Mn-270Mn boe from 243Mn boe in 2018. Anadarko expects  oil market to remain volatile “for some time.” 

The company has reiterated its previously announced capital expenditure guidance of $4.3 billion to $4.7 billion and expects to operate within discretionary cash flow at $50 per bbl oil.