Anadarko? One Of The Energy Darlings Of Wall Street? Permian More Expensive That Thought? -- July 24, 2017

It's been my impression that Anadarko has been one of the energy darlings of Wall Street. Then this:

• 1Q17, ending March 31: bigger-than-expected loss as costs rise. Posted by Reuters, May 2, 2017.
• 2Q17, ending June 31: bigger-than-expected loss. Posted by MarketWatch, July 24, 2017.
• Anadarko cuts 2017 spending by $300 million. Posted by Oil & Gas Journal, July 24, 2017. Data points from the O&GJ:

• will lower its full-year sales-volume guidance by 4 million boe to 235 million boe
• follows recent divestiture and the impact of shutting more than 3,000 wells in the DJ basin in Colorado after a home explosion in April, 2017
• closed on its Eaglebine assets in central Texas for $534 million
• closed on its sale of coalbed methane assets in Utah for $70 million

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, or relationship decisions based on what you read here or what you think you may have read here.

Other Anadarko posts:

• Anadarko expanded in Gulf of Mexico, September 12, 2016
• stuff happens, May 3, 2017
  
• Feds approve Anadarko plans to drill coalbed methane in Utah, May 8, 2012

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IRRs As Reported By Operators

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OSP = Official Selling Price (Saudi)
ICE = Intercontinental Exchange (Europe)

I'm only posting this for my benefit. I can never remember this stuff; maybe this will help:

Arab Medium (which is pretty heavy) and Arab Heavy vs ICE Brent.