UPDATE 1-Anadarko Q3 better-than-expected, stock up 1.4 pct - News

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UPDATE 1-Anadarko Q3 better-than-expected, stock up 1.4 pct

By: AFX | 02 Nov 2009 | 05:05 PM ET

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SAN FRANCISCO, Nov 2 (Reuters) - Anadarko Petroleum Corp reported better-than-expected third-quarter results as increased production offset weakness in natural gas and crude oil prices. Anadarko made a third-quarter net profit of $200 million, or 40 cents per share, compared with $2.17 billion, or $4.58 per share, the company said on Monday. Excluding one-time items worth 51 cents per share, Anadarko had a loss of $51 million, or 11 cents per share. Analysts, on average, had expected the company to report a loss of 33 cents per share, according to Thomson Reuters I/B/E/S. Sales volumes of natural gas, crude oil and natural gas liquids totaled 57 million barrels of oil equivalent (boe) in the third quarter, up from 51 million a year ago and 56 million the prior quarter. The company increased its full-year output estimate to 220 million boe from 210 million previously. Shares in Houston-based Anadarko rose 1.4 percent to $62.70 following the earnings report after closing 1.5 percent higher at $61.84 on the New York Stock Exchange. (Reporting by Braden Reddall in San Francisco; Editing by Gary Hill) Keywords: ANADARKO/ (braden.reddall@thomsonreuters.com; +1 415 677 2543; braden.reddall.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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