Anadarko back in black

Celebrate: Andarko Petroleum returned to profit in 2012

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Josh Lewis

 05 February 2013 03:10 GMT

US company Anadarko Petroleum bounced back into profit during 2012 as sales volumes for the year increased by 8%, hitting a record high, and expenses were lower.

Net income for the year totaled more than $2.4 billion, recovering from 2011’s near $2.6 billion loss.

The return to profits came as sales volumes jumped from about 248 million barrels of oil equivalent in 2011 to roughly 268 million boe last year.

This helped partially offset a fall in natural gas prices from an average of $3.87 per thousand cubic feet to $2.68 per Mcf in 2012.

The average sale price of natural gas liquids also fell to an average of $40.44 per barrel, down from an average of $53.95 per barrel…

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