Anadarko Petroleum Misses Profit Estimates; Beats On Revenues

Anadarko Petroleum Corp. (NYSE: APC) on July 31 missed Wall Street quarterly profit estimates but beat on revenue on increased production and improved margins in its U.S. shale operations.

Revenue rose to $3.29 billion in the second quarter from $1.4 billion a year ago, topping analysts’ consensus estimate of $3.07 billion according to Thomson Reuters I/B/E/S.

U.S. onshore oil volumes rose by 54,000 barrels per day from a year ago, and per-barrel margins totaled around $31.60, CEO Al Walker said in a statement.