(By Balachander) Anadarko Petroleum Corp. (NYSE: APC) reported better-than-estimated quarterly profit, and the oil and gas explorer lifted its sales-volumes outlook.
On an adjusted basis, earnings per share (EPS) increased 27 percent to 84 cents from 66 cents, beating Wall Street expectations of 76 cents. Revenue increased 4 percent to $3.33 billion, versus consensus estimate of $3.40 billion.
Net earnings were $142 million, compared with a loss of $3.03 billion in the comparable period of last year.
Anadarko reported total sales volumes of 68 million barrels of oil equivalent (BOE), or 739,000 BOE per day, during the third quarter.
Oil volumes averaged 234,000 barrels per day and natural gas liquids averaged 88,000 barrels per day. Natural gas volumes averaged around 2.5 billion cubic feet per day.
For the quarter, cash flow from operating activities was roughly $2.229 billion, and discretionary cash flow totaled $1.794 billion.
For the full-year, Anadarko raised sales-volumes guidance to a new range of 265 to 267 million BOE.
APC shares, which have been trading in the 52-week range of $56.42 to $88.70, ended at $66.49 on Friday.