Anadarko Quarterly Loss Shrinks; Capex Slashed for 2017
U.S. oil producer Anadarko Petroleum Corp on Monday said its quarterly loss shrank and that it would cut its 2017 capital budget by $300 million because of depressed oil prices.
The company posted a loss of $415 million, or 76 cents per share, compared to $692 million, or $1.36 per share, in the year-ago period.
Average daily sales volumes, the physical amount of crude and natural gas sold, fell 20 percent to 631,000 barrels of oil equivalent per day.
(Reporting by Ernest Scheyder; editing by Grant McCool)
(Reporting by Ernest Scheyder; editing by Grant McCool)
