Anadarko 2Q14 Earnings Call Notes

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This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. Full transcripts can be found at Seeking Alpha

Record North America production growth

“In the quarter Anadarko delivered record U.S. onshore growth on a same-store sales basis by growing year-over-year U.S. onshore volumes by an incredible 117,000 BOE per day”

Seeing success in excess of expectations

“we have another significant emerging oil opportunity in the Wolfcamp Shale and the Delaware Basin in West Texas. Our ongoing development program has been very successful to-date and we’re working to optimize spacing, lateral lengths and completion designs. We’re also further evaluating the resource potential of our 600,000 gross acre land position due to success outside our previously defined high confidence area and well performance significantly exceeding early expectations for the production of high margin oil.”

Share knowledge across the organization

“one of the reasons we’ve been so effective, if you hear recently in the Wattenberg as we’ve taken the learning from the Eagle Ford and other places where we’ve had success but lot of learnings from the Eagle Ford were applied to the Wattenberg, because Chuck creates such a great environment for that exchange to occur between these groups and people certainly have the right incentive to share those. And so even for a company as large as our, we don’t get into the towers of knowledge and don’t share it. And it’s easy to say and hard to do”

Not surprisingly, a positive long term outlook for oil markets

” I’d say our early outlook particular like the international benchmark for Brent remains strong, market is tight their capacity is low, supplier outages are pretty strong the 3 million barrels a day and demand growth is returning to long term trends.”