Tronox Ltd News

Anadarko Posts Loss On Tronox Settlement, Output Up

Anadarko Petroleum Corp reported a big quarterly loss on Monday, compared with a year-earlier profit, as a previously announced $5.15 billion settlement related to Tronox Ltd litigation hurt results. Anadarko, based in Houston, lost $2.7 billion, or $5.30 per share in the first quarter, compared with a profit of $460 million, or 91 cents per share, in same quarter a year earlier. Adjusting for one-time items, Anadarko earned $1.26 per share. Wall Street analysts on average had expected $1.15 per share. Anadarko said its average oil and gas production rose 3.2 percent to a record 819,000 barrels oil equivalent per day (boed), boosted by output from wells in fields including the Eagle Ford in south Texas and the Wattenberg in Colorado.