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March 21, 2014
15:47 EDTAPCAnadarko says ruling consistent with prior determinations of no fault for spill
Anadarko Petroleum stated that the court held a hearing to consider certain evidentiary and discovery issues as the parties prepare for the Clean Water Act penalty phase of the Deepwater Horizon trial. The court granted Anadarko's motion twice before, resulting in no evidence of Anadarko's fault being admitted at either of the earlier two phases of the trial. During today's hearing, Judge Barbier told Justice Department lawyers: "I don't think this argument is going to get you anywhere. It's pretty clear to me, once I ruled that Anadarko had no legal duty to intervene in the well and could not be negligent." Degree of culpability in causing the spill is a significant factor in the court's assessment of fines and penalties under the CWA, the company said. Judge Barbier again approved Anadarko's motion for this phase of the trial. Therefore, no evidence of Anadarko's alleged culpability will be allowed during the penalty phase of the trial, the company said. "Today's ruling is consistent with previous Court determinations that we were not at fault for the Deepwater Horizon event. We look forward to seeing the Clean Water Act portion of the trial resolved soon," stated Anadarko Chairman, President and CEO Al Walker.
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July 28, 2015
16:32 EDTAPCAnadarko sees Q3 Total Sales Volumes 71-73 MMBOE
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16:31 EDTAPCAnadarko reports Q2 EPS ex-items 1c, consensus (51c)
Reports Q2 revenue $2.64B, consensus $2.66B. During Q2, Anadarko's sales volumes of oil, natural gas and natural gas liquids totaled 77 million barrels of oil equivalent, or an average of 846,000 BOE per day. The company also updated its full-year 2015 sales-volume guidance to a range of 298 million to 302 million BOE, which excludes 2015 sales volumes associated with the divestitures of EOR and Bossier. Anadarko expects to achieve its objective of drilling more than 200 wells in the Eagleford Shale this year with fewer rigs than initially anticipated. Anadarko ended Q2 with approximately $2.2B of cash on hand.
15:21 EDTAPCNotable companies reporting after market close
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July 22, 2015
06:29 EDTAPCAnadarko coverage assumed with an Outperform at Credit Suisse
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