Anadarko Announces Strong Second Quarter Results.HOUSTON Houston, city (1990 pop. 1,630,553), seat of Harris co., SE Tex., a deepwater port on the Houston Ship Channel; inc. 1837. Economy The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; -- Anadarko Petroleum Corporation Anadarko Petroleum Corporation (NYSE: APC) is one of the world’s largest independent oil and gas exploration and production companies, with 2.37 billion barrels of oil equivalent (BOE) of proved reserves and a production of 190 million BOE in 2004. Ranked No. (NYSE NYSE See: New York Stock Exchange :APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. ) today announced second quarter 2005 net income available to common shareholders of $506 million, or $2.12 per share (diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. ), on revenues of $1.59 billion. Cash flow from operating activities was $795 million in the second quarter, and discretionary cash flow Discretionary cash flow Cash flow that is available after the funding of all positive net present value (NPV) capital investment projects; it is available for paying cash dividends, repurchasing common stock, retiring debt, and so on. totaled $930 million.(1) "Anadarko had another quarter of strong financial and operating results," said Anadarko President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jim Hackett Hackett may refer to: In places:
"In addition, we improved our net debt (or debt less cash) to total capital ratio to 22 percent, versus 34 percent at this time last year," Hackett added. Updating the company's stock buy-back program, Hackett said the company acquired another 1.8 million shares in July July: see month. for $160 million, bringing the total shares repurchased to 24.7 million shares for $1.7 billion, or a net average cost of $67.50 per share, since the $2 billion program was authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: in June June: see month. 2004. Sales volumes totaled 39 million barrels of oil equivalent (BOE BOE Based on Experience BOE Board of Education BOE Boletín Oficial del Estado (Spanish) BOE Bank of England BOE Board of Equalization BOE Board of Elections BOE Barrel of Oil Equivalent BOE Bind on Equip ) in the quarter, or 428,000 BOE per day. Natural gas sales volumes averaged 1,434 million cubic feet per day, at an average realized price of $6.25 per thousand cubic feet. Oil sales volumes in the second quarter averaged 149,000 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. , with an average realized price of $46.55 per barrel barrel: see English units of measurement. . Natural gas liquids volumes were strong, averaging 40,000 barrels per day, as the higher average realized price of $29.70 per barrel encouraged incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. liquid recovery, which reduced reported natural gas volumes. Overall volumes were down compared with the second quarter 2004 due to property sales associated with Anadarko's refocused strategy. Adjusting for these property sales, volumes have increased more than 10 percent year-over-year. Second quarter 2004 net income available to common shareholders was $405 million, or $1.59 per share (diluted), on revenues of $1.44 billion. Cash flow from operating activities for the same period was $880 million, while discretionary cash flow totaled $889 million.(1) "Operationally, our exploration and development program continues to deliver very good results on all fronts," Hackett said. "Onshore on·shore adj. 1. Moving or directed toward the shore: an onshore wind. 2. Located on the shore: an onshore beacon; an onshore patrol. adv. North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , our existing core properties remain solid contributors, with some exciting exploration underway. Our deepwater Deepwater or Deep Water may refer to:
Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east portfolio is growing, with first volumes from the K2 field produced during the quarter, along with the Genghis Khan Genghis Khan: see Jenghiz Khan. Genghis Khan or Chinggis Khan orig. Temüjin (born 1162, near Lake Baikal, Mongolia—died Aug. discovery and good preliminary exploration results at the Knotty Head Knotty Head is the deepest oil well drilled in the Gulf of Mexico. It is drilled in 3,500 feet of water and 30,589 feet below the sea floor. It is owned jointly by Chevron, Anadarko Petroleum Corporation, BHP Billiton and Nexen Inc. with each having 25% of the share. prospect. "Furthermore, sustainability of our growth model gained visibility with the addition and advancement A gift of money or property made by a person while alive to his or her child or other legally recognized heir, the value of which the person intends to be deducted from the child's or heir's eventual share in the estate after the giver's death. of international projects including offshore North Africa, West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. , the Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. Black Sea, Qatar Qatar or Katar (both: kŭ`tər, gŭ–, kətär`), officially State of Qatar, independent emirate (2005 est. pop. 863,000), c. and Indonesia Indonesia (ĭn'dənē`zhə), officially Republic of Indonesia, republic (2005 est. pop. 241,974,000), c.735,000 sq mi (1,903,650 sq km), SE Asia, in the Malay Archipelago. , as well as onshore Algeria Algeria (ăljēr`ēə), Arab. Al Djazair, Fr. Algérie, officially People's Democratic Republic of Algeria, republic (2005 est. pop. and Tunisia Tunisia (t  nē`zhə, ty–), Fr. Tunisie, officially Republic of Tunisia, republic (2005 est. pop. and at our
Bear Head LNG LNG (liquefied natural gas): see under natural gas. project in Nova Scotia Nova Scotia (nō`və skō`shə) [Lat.,=new Scotland], province (2001 pop. 908,007), 21,425 sq mi (55,491 sq km), E Canada.
Geography," Hackett said. "We are very encouraged by the success we've we've Contraction of we have. we've have seen through mid-year and expect to continue executing the refocused strategy we initiated last summer." EARNINGS CONFERENCE CALL TODAY AT 9:00 A.M. CDT CDT abbr. Central Daylight Time CDT Central Daylight Time CDT n abbr (US) (= Central Daylight Time) → hora de verano del centro; (BRIT , 10:00 A.M. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT Anadarko will host an earnings conference call today at 9:00 a.m. Central Daylight For other uses, see Daylight (disambiguation). Daylight or the light of day is the combination of all direct and indirect sunlight outdoors during the daytime (and perhaps twilight). Time (10:00 a.m. Eastern Daylight Time) to discuss second quarter 2005 results and the company's outlook for the remainder of the year. The dial-in number is 913-981-4900, and the confirmation number is 922521. For complete instructions on how to actively participate in the conference call, or to listen to the live audio webcast or a replay, please refer to www.anadarko.com. ANADARKO OPERATIONS REPORT For more details on Anadarko's operations, please refer to the comprehensive report on second quarter drilling activity. The report will be available at www.anadarko.com on the Investor Relations Investor relations The process by which the corporation communicates with its investors. page. FINANCIAL DATA Seven pages of summary financial data follow, including current hedge positions and guidance. Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare. As of year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. 2004, the company had 2.37 billion BOE of proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. , making it one of the world's largest independent exploration and production companies. Anadarko's operational focus extends from the deepwater Gulf of Mexico, up through Texas, Louisiana Louisiana (ləwē'zēăn`ə, l ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. , the Mid-Continent, western U.S. and
Canadian Rockies The Canadian Rockies comprise the Canadian segment of the North American Rocky Mountains range. The southern end in Alberta and British Columbia borders Idaho and Montana of the USA. The northern end is at the Liard Plain in British Columbia. and onto the North Slope North Slope, Alaska: see Alaska North Slope. of Alaska Alaska (əlă`skə), largest in area of the United States but third smallest (exceeding only Vermont and Wyoming) in population, occupying the northwest extremity of the North American continent, separated from the coterminous United States . Anadarko also has
significant production in Algeria, Venezuela Venezuela (vĕnəzwā`lə, Span. vānāswā`lä), officially the Bolivarian Republic of Venezuela, republic (2005 est. pop. 25,375,000), 352,143 sq mi (912,050 sq km), N South America. and Qatar, and exploration
or production positions in several other countries. For more information
about how Anadarko is bringing excellence to the surface, please visit:
www.anadarko.com.
(1) See accompanying ac·com·pa·ny v. ac·com·pa·nied, ac·com·pa·ny·ing, ac·com·pa·nies v.tr. 1. To be or go with as a companion. 2. table for a reconciliation of GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). to non-GAAP financial measures and statement indicating why management believes the non-GAAP measures are useful information for investors. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that its goals will be achieved. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release. While Anadarko makes these forward-looking statements in good faith, neither Anadarko nor its management can guarantee that the anticipated future results will be achieved. See Regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. Matters and Additional Factors Affecting Business in the Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial included in the company's 2004 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. .
Anadarko Petroleum Corporation
Reconciliation of GAAP to Non-GAAP Measures
Below is a reconciliation of cash provided by operating activities
(GAAP) to discretionary cash flow (non-GAAP) as required under
Regulation G of the Securities Exchange Act of 1934. The company uses
discretionary cash flow to demonstrate the company's ability to
internally fund capital expenditures and to service or incur
additional debt. It is useful in comparisons of oil and gas
exploration and production companies because it excludes fluctuations
in assets and liabilities.
Quarter Ended
June 30
-----------------------
millions 2005 2004
----------------------------------------------------------------------
Cash Flow
----------------------------------------------------------------------
Net cash provided by operating activities $795 $880
Add back:
Change in accounts receivable 16 119
Change in accounts payable and accrued
expenses 25 (138)
Change in other items - net 94 28
----------------------------------------------------------------------
Discretionary Cash Flow $930 $889
----------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Summary Financial Information June 30 June 30
------------------- -------------------
$ and shares in millions 2005 2004 2005 2004
----------------------------------------------------------------------
Revenues
----------------------------------------------------------------------
Gas sales $816 $843 $1,557 $1,615
Oil and condensate sales 629 503 1,300 1,054
Natural gas liquids sales 108 93 214 196
Other sales 37 4 49 38
----------------------------------------------------------------------
Total 1,590 1,443 3,120 2,903
----------------------------------------------------------------------
Costs and Expenses
----------------------------------------------------------------------
Direct operating 137 163 267 321
Transportation and cost of
product 72 59 142 116
General and administrative 110 92 212 171
Depreciation, depletion and
amortization 333 357 657 705
Other taxes 95 85 180 166
Impairments related to oil and
gas properties - - - 9
----------------------------------------------------------------------
Total 747 756 1,458 1,488
----------------------------------------------------------------------
Operating Income 843 687 1,662 1,415
----------------------------------------------------------------------
Interest Expense and Other
(Income) Expense
----------------------------------------------------------------------
Interest expense 50 66 102 129
Other (income) expense 4 (4) 4 56
----------------------------------------------------------------------
Total 54 62 106 185
----------------------------------------------------------------------
Income before Income Taxes 789 625 1,556 1,230
----------------------------------------------------------------------
Income Tax Expense 282 219 558 431
----------------------------------------------------------------------
Net Income $507 $406 $998 $799
----------------------------------------------------------------------
Preferred Stock Dividends 1 1 2 2
----------------------------------------------------------------------
Net Income Available to Common
Stockholders $506 $405 $996 $797
----------------------------------------------------------------------
Per Common Share
----------------------------------------------------------------------
Net income - basic $2.14 $1.60 $4.21 $3.16
Net income - diluted $2.12 $1.59 $4.17 $3.14
----------------------------------------------------------------------
Average Number of Common Shares
Outstanding - Basic 236 252 237 252
----------------------------------------------------------------------
Average Number of Common Shares
Outstanding - Diluted 238 254 239 254
----------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Summary Financial Information June 30 June 30
------------------- -------------------
$ in millions 2005 2004 2005 2004
---------------------------------------------------------------------
Cash Flow from Operating
Activities
---------------------------------------------------------------------
Net income $507 $406 $998 $799
Depreciation, depletion and
amortization 333 357 657 705
Deferred income taxes 73 123 146 248
Impairments related to oil and
gas properties - - - 9
Other noncash items 17 3 24 72
---------------------------------------------------------------------
930 889 1,825 1,833
(Increase) decrease in
accounts receivable (16) (119) 124 (158)
Increase (decrease) in
accounts payable and accrued
expenses (25) 138 (69) 158
Other items - net (94) (28) (149) (68)
---------------------------------------------------------------------
Net Cash Provided by Operating
Activities $795 $880 $1,731 $1,765
---------------------------------------------------------------------
---------------------------------------------------------------------
Capital Expenditures
---------------------------------------------------------------------
Capital spending $698 $684 $1,431 $1,350
Capitalized interest 18 22 35 47
Capitalized overhead 42 45 87 86
---------------------------------------------------------------------
Total $758 $751 $1,553 $1,483
---------------------------------------------------------------------
June 30, Dec. 31, June 30,
2005 2004 2004
---------------------------------------------------------------------
Condensed Balance Sheet
---------------------------------------------------------------------
Cash and cash equivalents $915 $874 $309
Other current assets 1,520 1,628 1,407
Net properties and equipment 16,601 15,913 18,066
Other assets 492 468 443
Goodwill 1,299 1,309 1,378
---------------------------------------------------------------------
Total Assets $20,827 $20,192 $21,603
---------------------------------------------------------------------
Current liabilities $1,934 $1,993 $2,044
Long-term debt 3,603 3,671 4,895
Other long-term liabilities 5,235 5,243 5,513
Stockholders' equity 10,055 9,285 9,151
---------------------------------------------------------------------
Total Liabilities and
Stockholders' Equity $20,827 $20,192 $21,603
---------------------------------------------------------------------
Capitalization
---------------------------------------------------------------------
Total debt $3,675 $3,840 $5,063
Stockholders' equity 10,055 9,285 9,151
---------------------------------------------------------------------
Total $13,730 $13,125 $14,214
---------------------------------------------------------------------
Capitalization Ratios
---------------------------------------------------------------------
Total debt 27% 29% 36%
Stockholders' equity 73% 71% 64%
---------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Volumes and Prices June 30 June 30
------------------- -------------------
2005 2004 2005 2004
----------------------------------------------------------------------
Natural Gas
----------------------------------------------------------------------
United States
----------------------------------------------------------------------
Volumes, billion cubic feet 104 126 210 247
Average daily volumes, million
cubic feet per day 1,147 1,388 1,165 1,358
Price per thousand cubic feet $6.31 $5.19 $5.98 $5.03
----------------------------------------------------------------------
Canada
----------------------------------------------------------------------
Volumes, billion cubic feet 26 36 51 72
Average daily volumes, million
cubic feet per day 287 398 279 396
Price per thousand cubic feet $6.03 $5.16 $5.87 $5.14
----------------------------------------------------------------------
Total
----------------------------------------------------------------------
Volumes, billion cubic feet 130 162 261 319
Average daily volumes, million
cubic feet per day 1,434 1,786 1,444 1,754
Price per thousand cubic feet $6.25 $5.19 $5.96 $5.06
----------------------------------------------------------------------
Crude Oil and Condensate
----------------------------------------------------------------------
United States
----------------------------------------------------------------------
Volumes, million barrels 5 8 12 16
Average daily volumes, thousand
barrels per day 65 84 67 86
Price per barrel $43.98 $31.04 $41.22 $30.45
----------------------------------------------------------------------
Canada
----------------------------------------------------------------------
Volumes, million barrels 1 1 1 3
Average daily volumes, thousand
barrels per day 7 13 7 14
Price per barrel $46.36 $36.12 $45.87 $33.99
----------------------------------------------------------------------
Algeria
----------------------------------------------------------------------
Volumes, million barrels 5 5 12 12
Average daily volumes, thousand
barrels per day 57 52 67 65
Price per barrel $51.75 $33.46 $49.81 $32.20
----------------------------------------------------------------------
Other International
----------------------------------------------------------------------
Volumes, million barrels 2 2 4 4
Average daily volumes, thousand
barrels per day 20 24 21 23
Price per barrel $40.03 $27.88 $35.40 $25.87
----------------------------------------------------------------------
Total
----------------------------------------------------------------------
Volumes, million barrels 13 16 29 35
Average daily volumes, thousand
barrels per day 149 173 162 188
Price per barrel $46.55 $31.71 $44.19 $30.76
----------------------------------------------------------------------
Natural Gas Liquids
----------------------------------------------------------------------
Total
----------------------------------------------------------------------
Volumes, million barrels 4 4 7 8
Average daily volumes, thousand
barrels per day 40 41 38 45
Price per barrel $29.70 $25.18 $30.99 $24.22
----------------------------------------------------------------------
Total Barrels of Oil Equivalent
(BOE)
----------------------------------------------------------------------
Volumes, million BOE 39 47 80 96
Average daily volumes, thousand
BOE per day 428 512 441 525
Anadarko Petroleum Corporation
Financial and Operating Guidance
As of July 29, 2005
3rd Quarter Total Year
2005 Forecast 2005 Forecast
------------------- -------------------
Units Units
------------------- -------------------
Total Sales (MM BOE) 38 - 40 159 - 164
Crude Oil (MBbl/d): 150 - 160 160 - 172
United States 65 - 67 70 - 75
Canada 6 - 7 7 - 8
Algeria 58 - 68 60 - 68
Other International 19 - 21 20 - 24
Natural Gas (MMcf/d): 1,400 - 1,440 1,425 - 1,475
United States 1,120 - 1,150 1,150 - 1,175
Canada 275 - 295 275 - 295
Natural Gas Liquids
(MBbl/d): 31 - 35 34 - 38
United States 30 - 33 33 - 36
Canada 1 - 2 1 - 2
---------------------------------------------------------------------
$/Unit $/Unit
------------------- -------------------
Price Differentials vs NYMEX
(w/o hedges)
Crude Oil ($/Bbl): (4.65) - (6.65) (5.00) - (6.50)
United States (4.00) - (6.00) (4.50) - (5.50)
Canada (7.00) - (10.00) (6.00) - (8.00)
Algeria (2.00) - (4.00) (1.50) - (3.50)
Other International (13.00) - (19.00) (13.00) - (19.00)
Natural Gas ($/Mcf): (0.50) - (0.80) (0.35) - (0.75)
United States (0.45) - (0.60) (0.35) - (0.70)
Canada (0.75) - (1.50) (0.65) - (0.90)
---------------------------------------------------------------------
$MM $MM
------------------- -------------------
Other Revenues:
Marketing 14 - 18 60 - 70
Minerals and Other 10 - 14 30 - 40
---------------------------------------------------------------------
Costs and Expenses:
$/Boe $/Boe
------------------- -------------------
Direct Operating 3.40 - 3.60 3.30 - 3.50
Transportation and Cost
of Product 1.75 - 1.90 1.70 - 1.85
Depreciation, Depletion
and Amortization 8.50 - 8.75 8.20 - 8.50
Production Taxes (% of
Revenue) 5.5% - 6.0% 5.6% - 5.8%
$MM $MM
------------------- -------------------
General and Administrative 100 - 110 415 - 435
Impairments Related to Oil
and Gas Properties - - 40 - - 40
Interest Expense 49 - 51 190 - 210
Other (Income) Expense (5) - 5 5 - 15
Federal Tax Rate 35% - 37% 35% - 36%
Deferred Taxes (% of Total
Taxes) 20% - 25% 25% - 30%
---------------------------------------------------------------------
Avg. Shares Outstanding (MM)
Basic 235 - 237 235 - 236
Diluted 237 - 239 237 - 238
$MM $MM
------------------- -------------------
Capital Investment 800 - 900 3,100 - 3,300
Capital Projects 739 - 833 2,860 - 3,045
Capitalized Direct
Expenses 46 - 50 175 - 185
Capitalized Interest 15 - 17 65 - 70
Anadarko Petroleum Corporation
Hedge Position for 2005 & 2006
As of June 30, 2005
------------------------ ---------------------------------
2- Way Collars 3- Way Collars
------------------------ ---------------------------------
Sold Purchased
Volume Floor Ceiling Volume Floor Floor Ceiling
Natural Gas MMMBtu/d $/MMBtu $/MMBtu MMMBtu/d $/MMBtu $/MMBtu $/MMBtu
------------------------ ---------------------------------
United
States
3rd Qtr
2005 26.3 $3.76 $5.65 268.8 $4.01 $5.00 $9.37
4th Qtr
2005 26.3 $3.76 $5.65 268.8 $4.01 $5.00 $9.37
------------------------ ---------------------------------
Remainder
Year 2005 26.3 $3.76 $5.65 268.8 $4.01 $5.00 $9.37
------------------------ ---------------------------------
------------------------ ---------------------------------
Total Year
2006 10.0 $4.00 $5.88 - $- $- $-
------------------------ ---------------------------------
There are no Fixed Price hedges for the United States
--------------------
Fixed and Physical
Contracts
--------------------
NYMEX
Volume Price
MMMBtu/d $/MMBtu
--------------------
Canada
3rd Qtr 2005 21.7 $2.98
4th Qtr 2005 18.0 $2.95
--------------------
Remainder Year
2005 19.8 $2.97
--------------------
--------------------
Total Year 2006 10.9 $2.87
--------------------
There are no Collar hedges for Canada
------------------------ ---------------------------------
2- Way Collars 3- Way Collars
------------------------ ---------------------------------
Sold Purchased
Volume Floor Ceiling Volume Floor Floor Ceiling
Crude Oil Bbl/day $/Bbl $/Bbl Bbl/day $/Bbl $/Bbl $/Bbl
------------------------ ---------------------------------
United
States
3rd Qtr
2005 1,986 $22.00 $26.32 43,000 $27.28 $32.28 $46.89
4th Qtr
2005 1,986 $22.00 $26.32 43,000 $27.28 $32.28 $46.89
------------------------ ---------------------------------
Remainder
Year 2005 1,986 $22.00 $26.32 43,000 $27.28 $32.28 $46.89
------------------------ ---------------------------------
------------------------ ---------------------------------
Total Year
2006 822 $22.00 $26.32 - $- $- $-
------------------------ ---------------------------------
There are no Crude Oil hedges for production outside of the United
States
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion