Anadarko Petroleum profit beats on higher sales volumes, lower costs

Anadarko Petroleum Corp, the target of a bidding war between Occidental Petroleum Corp and Chevron Corp, beat analysts’ estimates for quarterly profit on Thursday, fueled by higher sales volume and lower costs.

Occidental made a counterbid for Anadarko’s vast shale holdings in the prolific Permian Basin of West Texas and New Mexico on Wednesday, offering $57 billion compared with Chevron’s $50 billion bid, both including debt.

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