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Why Anadarko Petroleum’s Web Debt Decreased In 2017

As of September 30, 2017, Anadarko Petroleum’s (APC) whole debt stood at ~$15.6 billion. With ~$5.3 billion in money and money equivalents, its web debt is ~$10.3 billion at the end of 3Q17.

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Anadarko Petroleum’s debt, cash, and web debt developments
From 3Q16 to 3Q17, Anadarko Petroleum’s whole debt has shown a marginal enhance of ~$200 million. Its total debt increased from ~$5.Three billion in 3Q16 to ~$5.5 billion in 3Q17. Nonetheless, its money and money equivalents have elevated significantly by ~31% within the last 4 quarters. They’ve risen from ~$4 billion in 3Q16 to ~$5.3 billion in 3Q17.

The smaller enhance in complete debt coupled with the much bigger improve in money and money equivalents during the last four quarters resulted in a steep decline in APC’s web debt. In the trailing four quarters, it has successfully diminished its web debt ~$1.6 billion, from ~$eleven.9 billion in 3Q16 to ~$10.Three billion in 3Q17.

Why Anadarko Petroleum’s internet debt decreased
The 13 thirteen% reduction in Anadarko Petroleum’s web debt over the last 4 quarters could be attributed to its Eagle Ford and Marcellus Shale asset divestitures in 1Q17. It acquired internet money proceeds of ~$2.8 billion in 1Q17 for these asset gross sales, which increased its cash stability significantly from ~$3.2 billion in oil refinery security jobs job 4Q16 to ~$5.Eight billion in 1Q17.

Nonetheless, Anadarko has no plans to use the proceeds from the Eagle Ford and Marcellus Shale asset gross sales to pay down its whole debt. As a substitute, it’s specializing in monetary discipline, expecting its 2018 capital program to be inside its working cash move at $50 per barrel of crude oil (USO) (SCO) (UWT) (DWT) costs. At these prices, it’s expecting ~$seven hundred million of free cash circulate in 2018.

Anadarko Petroleum plans to make use of its cash to enhance shareholder returns using a share repurchase program. In 2018, it’s planning to repurchase ~$1.5 billion of its widespread stock.