Anadarko's Operations Yield $2.01 Billion During Q1
Anadarko Petroleum Corporation announced first-quarter 2008 net income available to common stockholders totaled $286 million, or $0.61 per share (diluted). Income from continuing operations totaled $237 million, or $0.50 per share (diluted). The net income results include certain items typically excluded by the investment community in published estimates. In total, these items reduced net income by approximately $440 million, or $0.94 per share (diluted) on an after-tax basis. Cash flow from continuing operations in the first quarter of 2008 was $2.01 billion, and discretionary cash flow totaled $1.87 billion.
First-quarter 2008 sales volumes of natural gas, crude oil and natural gas liquids totaled 53 million BOE, or 585,000 BOE per day. First-quarter 2008 natural gas sales volumes averaged 2.14 billion cubic feet per day at an average price of $6.17 per thousand cubic feet, including a loss on derivatives of $1.41 per thousand cubic feet. Oil sales volumes in the first quarter averaged 190,000 barrels per day, at an average price of $78.21 per barrel, including a loss on derivatives of $14.80 per barrel. Natural gas liquids sales volumes averaged 39,000 barrels per day, at an average price of $56.42 per barrel.
In the 2007 first quarter, net income available to common stockholders was $1.72 billion, or $3.70 per share (diluted). Income from continuing operations in the first quarter of 2007 totaled $1.7 billion, or $3.64 per share (diluted). The results for the first quarter of 2007 included gains on divestitures of approximately $1.66 billion after income taxes, or $3.56 per share (diluted).
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