Anadarko Wraps Up Eventful 2018 and Braces for Lower Oil Prices in 2019
We're holding steady on our fair value estimate for Anadarko Petroleum at $58 per share following the release of the company's fourth-quarter and full-year results. We think shares look mildly undervalued. Our no-moat rating is also unchanged.The company wrapped up an eventful 2018, highlighted by $3.75 billion in share repurchases, announcing the sale of $4 billion in midstream assets, and avoiding a significant hit to the value of its Colorado operations with the failure of Proposition 112 at...
Anadarko Petroleum is an independent exploration and production company. The company also participates in the hard-minerals business through royalty arrangements. The company's reporting segments are as follows: Exploration and Production, which is engaged in the exploration, development, production, and sale of oil, natural gas, and natural-gas liquids (NGLs) and in advancing its Mozambique liquefied natural gas project toward final investment decision; and WES Midstream and Other Midstream, in which these two segments engage in gathering, processing, treating, and transporting the company and third-party oil, natural-gas, and NGL production as well as gathering and disposal of produced water.
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