Anadarko Rises After Earnings Beat

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Oil and gas explorer Anadarko Petroleum (APC) rose 1.4% in after hours trading after releasingbetter than expected fourth quarter results.

Anadarko posted 72 cents of EPS, 12 cents ahead of analysts’ expectations. The company reported revenue of $3.84 billion, against expectations for $3.29 billion.

The company said that its focus on liquids production (as opposed to natural gas) has helped boost sales.

“By continuing to focus capital investments on our liquids-rich opportunities, we achieved 10-percent year-over-year growth in liquids sales volumes, highlighted by production records in the Eagleford Shale, Wattenberg field, Greater Natural Buttes area, Bone Spring and certain other U.S. onshore resource plays,” said Chairman and CEO Jim Hackett in a statement.



Original Article Source by Barrons.com