Anadarko Petroleum Corp. cut spending plans by almost half as it moves to recover from its worst year since spinning off from Panhandle Eastern Pipe Line Co. in 1986.
Share of the the third-largest U.S. natural gas producer rose in electronic trading on Monday following the budget reduction announcement. They gained 1 percent to $39.23 in New York as of 7:42 p.m. The Woodlands, Texas-based company reduced its 2016 capital budget by almost half to about $2.8 billion, according to its fourth-quarter earnings report.
Brazil Energy Insight 
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