Anadarko Petroleum Corporation announced 2014 fourth-quarter results, reporting a net loss attributable to common stockholders of $395 million, or $0.78 per share (diluted).
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These results include certain items typically excluded by the investment community in published estimates. In total, these items decreased net income by $582 million, or $1.15 per share (diluted), on an after-tax basis.(1) Cash flow from operating activities in the fourth quarter of 2014 was $1.952 billion, and discretionary cash flow totaled $2.412 billion.
For the year ended Dec. 31, 2014, Anadarko reported a net loss attributable to common stockholders of $1.750 billion, or $3.47 per share (diluted), which includes a net loss of $4.045 billion associated with the settlement of the Tronox Adversary Proceeding, after tax.
Full-year 2014 cash flow from operating activities was $8.466 billion. Discretionary cash flow for the year totaled $9.404 billion.
Anadarko's full-year sales volumes of natural gas, crude oil and natural gas liquids (NGLs) totaled a record 306 million BOE, or an average of 838,000 BOE per day, on a divestiture-adjusted basis.(3) Fourth-quarter 2014 sales volumes of natural gas, crude oil and NGLs totaled 79 million BOE, or an average of 854,000 BOE per day.
Anadarko organically added 503 million BOE of proved reserves in 2014 before the effects of price revisions and incurred oil and natural gas exploration and development costs of approximately $8.8 billion.
The company estimates its proved reserves at year-end 2014 totaled approximately 2.86 billion BOE, with 69 percent of its reserves categorized as proved developed. At year-end 2014, Anadarko's proved reserves were comprised of 49 percent liquids and 51 percent natural gas. ■
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