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Anadarko has about 3.4 million net total acres across Canada, with operations in Alberta, British Columbia, Saskatchewan and the Northwest Territories. (Anadarko Canada)
Anadarko has about 3.4 million net total acres across Canada, with operations in Alberta, British Columbia, Saskatchewan and the Northwest Territories. (Anadarko Canada)

Anadarko reports $380-million loss Add to ...

Anadarko Petroleum Corp. reported a net loss in the second quarter on asset impairments, even as oil and gas output surged 8 per cent to a record.

The Houston company reported a net loss of $380-million (U.S.), or 76 cents per share, compared with $544-million, or $1.08 per share, a year ago.

Excluding items, Anadarko reported a profit of 85 cents per share. Analysts on average had expected a profit of 77 cents per share, according to Thomson Reuters I/B/E/S.

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Oil and gas output in the quarter was 742,000 barrels oil equivalent (boe) per day, up from 685,000 boe per day a year ago. Growth in production was fuelled by output from the Wattenberg field in Colorado and Caesar Tonga in the Gulf of Mexico, Anadarko said.

Anadarko shares rose slightly to $71.83 after the close of regular trading from the New York Stock Exchange close of $71.75.

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