Anadarko posts $2.7 billion loss

Anadarko Petroleum Corp. (NYSE: APC) reported Monday a $2.7 billion loss during the first quarter, down from the $460 million it earned during the same quarter last year.

Anadarko, one of the largest oil producers in Weld County, blamed the loss on a $5.15 billion lawsuit settlement related to pollution caused by spinoff Tronox Ltd. Anadarko also reported a $946 million gain from selling a portion of its offshore drilling interests in Mozambique.

Anadarko also said that it achieved record daily sales volumes of 819,000 barrels of oil equivalent per day during the quarter. The Woodlands, Texas,-based company posted $5.8 billion in revenue vs. $3.9 billion during the first quarter of 2013.

In the Wattenberg, the fertile oil field in Weld County, Anadarko saw an increase of 19,000 barrels per day in liquids volumes over the first quarter of 2013.

Anadarko shares closed less than one point down at $99.49.  


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