WTI Crude
49.32
Brent Crude
55.66
Natural Gas
2.86

Anadarko Expects Oil Sales Volumes to Rise 25 Percent

Facebooktwitterlinkedininstagrammail

Petroleum Corp <APC.N> said on Tuesday it expected a 25 percent rise in oil sales volumes in 2017 and that it would boost its capital budget to focus on higher-margin oil production. The company forecast initial capital budget of $4.5 billion to $4.7 billion for the current year, compared with $3.31 billion in 2016. Anadarko announced the sale of its Eagleford shale assets in South Texas for about $2.3 billion in January to focus on more high-return properties such as Texas’ Delaware Basin, the DJ Basin in Colorado and the deepwater Gulf of Mexico.

CLICK HERE TO READ THE FULL ARTICLE BY THE PUBLISHER


Reporting by Vishaka George in Bengaluru; Editing by Anil D’Silva for Nasdaq.com

News Article Email Sign-Up
Sending
Facebooktwitterlinkedininstagrammail