Anadarko reports $380-million loss

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.

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.