Anadarko Petroleum (APC) Announces $5B Buyback Program
More News related to APC
- Western Gas to Present at Upcoming Energy Conference
- CNOOC to Invest $29.4 Billion Over 10 Years to Exploit Oil and Gas in South China Sea, an Industrial Info News Alert
- Merrill Lynch Downgrades, Cut Targets On Independent Oil & Gas Stocks (APC, DVN, KWK, SM, More ...)
- David Moenning's Daily State of the Markets: 11/26
- Anadarko to Present at Upcoming Energy Conference
More News related to Stock Buybacks
- Unusual 11 Mid-Day Movers 12/03: OGXI, PPO, BZH, GW Higher; IFX, HSNI, FCX, PALM Lower
- Notable Analyst Rating Changes 12/03: LMT, DRI, CTAS Upgraded; ALO, SYK, FSLR Downgraded
- Morning Movers 12/03: Constellation Energy (CEG) Jumps On Alternative Bid From EDF, Schlumberger (SLB) Down On Warning
- Notable Mergers and Acquisitions of the Day 12/03: CEG, MTZ, RIMM
- After-Hours Movers 12/02: Omnivision (OVTI) Lower on Guidance, Marvell Tech (MRVL) Up on Results
Anadarko Petroleum Corporation (NYSE: APC) today announced that its Board has authorized a share repurchase program of up to $5 billion. At the current trading price, this amount represents approximately 18% of the company's outstanding common shares. Share repurchases will be funded with free cash flow generated by the company's operations.
Anadarko intends to repurchase approximately $600 million worth of shares prior to year-end 2008. The authorization extends through August 2011 and replaces prior programs.
Anadarko Petroleum Corporation engages in the exploration and production of oil and gas properties primarily in the United States, the deepwater of the Gulf of Mexico, and Algeria.
Related Categories
Stock BuybacksStocks Mentioned
-1.67Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
