Anadarko expects royalty revenue to increase

Anadarko Petroleum Corp. (NYSE: APC) said Tuesday that it expects its royalty revenue from oil and gas mineral interests this year to surpass last year’s $675 million in revenue.

The Woodlands, Texas,-based oil and natural-gas producer, generated about $180 million in royalty revenue during the first quarter. About 75 percent of Anadarko’s royalty revenue comes from the company’s interests on 8 million acres in Colorado, Wyoming and Utah. Anadarko also has additional royalty in the Gulf of Mexico.

In 2013, Anadarko generated $300 million in royalty revenue from horizontal drilling in the Wattenberg, which spans much of Weld County.

Anadarko, among the top oil and gas producers in Weld County, also said Tuesday that it established a new credit facility, issued $1.25 billion in senior notes and sold its stake in Western Gas Equity Partners.

The company will announce its second-quarter financial results at 7 a.m., Wednesday, July 30, after releasing its earnings statement when the market closes July 29.

Participants should call 855-812-0464 about 15 minutes before the call starts and enter the number 53684166.

Registration for the call is available through the investor relations page at www.anadarko.com, where participants will be issued a personal identification number to use when dialing in to the live conference call in order to bypass the operator and gain immediate access to the call.

A replay of the conference call will also be available on the website for 30 days after the call.


Advertising

Social Network

 
Facebook Icon
Twitter Icon
LinkedIn Icon