EX-99 2 apc20192q-earningsrelease.htm ANADARKO PRESS RELEASE DATED JULY 26, 2019 Exhibit

Exhibit 99

newsreleaseanadarkoa67.jpg
NEWS

ANADARKO ANNOUNCES 2019 SECOND-QUARTER RESULTS

HOUSTON, July 26, 2019 – Anadarko Petroleum Corporation (NYSE: APC) today announced 2019 second‑quarter results, reporting a net loss attributable to common stockholders of $1.025 billion, or $2.09 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items increased the net loss by $1.274 billion, or $2.60 per share (diluted), on an after-tax basis,(1) which includes the Chevron merger termination fee and other merger transaction costs of $1.042 billion. Net cash provided by operating activities totaled $776 million for the quarter.
 
SECOND-QUARTER 2019 OPERATIONAL HIGHLIGHTS
Anadarko’s second-quarter 2019 sales volume of oil, natural gas and natural gas liquids (NGLs) totaled 68 million barrels of oil equivalent (BOE), or an average of 744,000 BOE per day, which included 434,000 barrels of oil per day (BOPD).
Anadarko’s U.S. onshore assets averaged sales volume of 484,000 BOE per day during the second quarter of 2019, which included 207,000 BOPD. Anadarko’s Gulf of Mexico averaged 158,000 BOE per day in the quarter, which included 130,000 BOPD. Internationally, the company averaged 102,000 BOE per day during the second quarter, which included 97,000 BOPD.
On June 18, 2019, Anadarko and the co-venturers in Mozambique’s Offshore Area 1 announced a Final Investment Decision (FID), officially confirming the Mozambique LNG project is advancing to the construction phase. The Anadarko-led Area 1 Mozambique LNG project will be Mozambique’s first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of 12.88 million tonnes per annum to support the development of the Golfinho/Atum fields located entirely within Offshore Area 1.



2

FINANCIAL DATA
Eight pages of summary financial data follow, including current hedge positions and a reconciliation of “divestiture-adjusted” or “same-store” sales.

(1)
See the accompanying table for details of certain items affecting comparability.

Anadarko Petroleum Corporation’s mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world’s health and welfare. As of year-end 2018, the company had 1.47 billion barrels-equivalent of proved reserves, making it one of the world’s largest independent exploration and production companies. For more information about Anadarko and APC Flash Feed updates, please visit www.anadarko.com.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including Anadarko’s ability to successfully plan, finance, build, and operate the necessary infrastructure and LNG park in Mozambique. See “Risk Factors” in the company’s 2018 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements.


#            #            #

Anadarko Contacts

INVESTORS:
Mike Pearl, mike.pearl@anadarko.com, 832.636.3271
Kyle Deakins, kyle.deakins@anadarko.com, 832.636.2354
Jon VandenBrand, jon.vandenbrand@anadarko.com, 832.636.1007

MEDIA:
John Christiansen, john.christiansen@anadarko.com, 832.636.8736
Stephanie Moreland, stephanie.moreland@anadarko.com, 832.636.2912



3

Anadarko Petroleum Corporation
Reconciliation of GAAP to Non-GAAP Financial Measures

Below are reconciliations of certain GAAP to non-GAAP financial measures, each as required under Regulation G of the Securities Exchange Act of 1934. This non-GAAP information should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP. The non-GAAP financial information presented may be determined or calculated differently by other companies and may not be comparable to similarly titled measures.

Management uses adjusted net income (loss) to evaluate operating and financial performance and believes the measure is useful to investors because it eliminates the impact of certain noncash and/or other items that management does not consider to be indicative of the Company’s performance from period to period. Management also believes this non-GAAP measure is useful to investors to evaluate and compare the Company’s operating and financial performance across periods, as well as facilitating comparisons to others in the Company’s industry.
 
 
Quarter Ended June 30, 2019
 
 
Before
 
After
 
Per Share
millions except per-share amounts
 
Tax
 
Tax
 
(diluted)
Net income (loss) attributable to common stockholders (GAAP)
 
 
 
$
(1,025
)
 
$
(2.09
)
Adjustments for certain items affecting comparability
 
 
 
 
 
 
Total gains (losses) on derivatives, net, less net cash from settlement of commodity derivatives (after noncontrolling interest)*
 
$
(227
)
 
(175
)
 
(0.36
)
Gains (losses) on divestitures, net
 
6

 
5

 
0.01

Lower-of-cost-or-market inventory adjustments
 
(6
)

(5
)

(0.01
)
Merger transaction costs
 
(1,042
)
 
(1,042
)
 
(2.12
)
Exploration assets - impairments
 
(38
)
 
(29
)
 
(0.06
)
Reorganization-related charges
 
(15
)
 
(11
)
 
(0.02
)
Change in uncertain tax positions

 

(17
)

(0.04
)
Certain items affecting comparability
 
$
(1,322
)
 
(1,274
)
 
(2.60
)
Adjusted net income (loss) (Non-GAAP)
 
 
 
$
249

 
$
0.51

*
Includes $(232) million related to interest-rate derivatives (after noncontrolling interest) and $5 million related to commodity derivatives.
 
 
Quarter Ended June 30, 2018
 
 
Before
 
After
 
Per Share
millions except per-share amounts
 
Tax
 
Tax
 
(diluted)
Net income (loss) attributable to common stockholders (GAAP)
 
 
 
$
29

 
$
0.05

Adjustments for certain items affecting comparability
 
 
 
 
 
 
Total gains (losses) on derivatives, net, less net cash from settlement of commodity derivatives*
 
$
(267
)

(205
)

(0.40
)
Gains (losses) on divestitures, net
 
52


39


0.07

Impairments
 








Producing properties (after noncontrolling interest)
 
(45
)
 
(35
)
 
(0.07
)
Exploration assets
 
(41
)
 
(31
)
 
(0.06
)
Contingency accrual

(13
)

(10
)

(0.02
)
Change in uncertain tax positions
 



(7
)

(0.01
)
Certain items affecting comparability
 
$
(314
)
 
(249
)
 
(0.49
)
Adjusted net income (loss) (Non-GAAP)
 
 
 
$
278

 
$
0.54

*
Includes $32 million related to interest-rate derivatives, $(298) million related to commodity derivatives, and $(1) million related to gathering, processing, and marketing sales.


4

Anadarko Petroleum Corporation
Reconciliation of GAAP to Non-GAAP Measures

Management believes that the presentation of Adjusted EBITDAX (Margin) provides information useful in assessing the Company’s operating and financial performance across periods.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
millions
2019
 
2018
 
2019
 
2018
Net income (loss) attributable to common stockholders (GAAP)
$
(1,025
)
 
$
29

 
$
(1,040
)
 
$
150

Interest expense
249

 
237

 
502

 
465

Income tax expense (benefit)
209

 
125

 
375

 
251

Depreciation, depletion, and amortization
1,161

 
1,003

 
2,242

 
1,993

Exploration expense*
90

 
94

 
139

 
262

(Gains) losses on divestitures, net
(6
)
 
(52
)
 
(1
)
 
(28
)
Impairments
—

 
128

 
—

 
147

Total (gains) losses on derivatives, net, less net cash from settlement of commodity derivatives
255

 
267

 
571

 
240

Reorganization-related charges
15

 
—

 
33

 
—

Merger transaction costs
1,042


—


1,042


—

Consolidated Adjusted EBITDAX (Margin) (Non-GAAP)
$
1,990

 
$
1,831

 
$
3,863

 
$
3,480

Total barrels of oil equivalent (MMBOE)
68

 
58

 
132

 
116

Consolidated Adjusted EBITDAX (Margin) per BOE
$
29.26

 
$
31.57

 
$
29.27

 
$
30.00

* Includes reorganization-related charges of $1 million for the six months ended June 30, 2019.

Management uses net debt to determine the Company’s outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand. Management believes that using net debt in the capitalization ratio is useful to investors in determining the Company’s leverage since the Company could choose to use its cash and cash equivalents to retire debt. In addition, management believes that presenting Anadarko’s net debt excluding WES is useful because WES is a separate public company with its own capital structure.
 
 
 
June 30, 2019
 
 
 
 
 
 
 
Anadarko
 
 
 
Anadarko
 
WES*
 
excluding
millions
 
 
Consolidated
 
Consolidated
 
WES
Total debt (GAAP)
 
 
$
18,229

 
$
7,489

 
$
10,740

Less cash and cash equivalents
 
 
1,394

 
96

 
1,298

Net debt (Non-GAAP)
 
 
$
16,835

 
$
7,393

 
$
9,442

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Anadarko
 
 
 
 
 
Anadarko
 
excluding
millions
 
 
 
 
Consolidated
 
WES
Net debt
 
 
 
 
$
16,835

 
$
9,442

Total equity
 
 
 
 
9,331

 
7,773

Adjusted capitalization
 
 
 
 
$
26,166

 
$
17,215


Net debt to adjusted capitalization ratio
 
 
 
 
64
%
 
55
%

* Western Midstream Partners, LP (WES) is a publicly traded consolidated subsidiary of Anadarko.



5

Anadarko Petroleum Corporation
Cash Flow Information
(Unaudited)
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
millions
2019
 
2018
 
2019
 
2018
Cash Flows from Operating Activities
 
 
 
 
 
 
 
Net income (loss)
$
(945
)
 
$
17

 
$
(849
)
 
$
191

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
 
 
 
 
 
 
 
Depreciation, depletion, and amortization
1,161

 
1,003

 
2,242

 
1,993

Deferred income taxes
(55
)
 
(15
)
 
(54
)
 
27

Dry hole expense and impairments of unproved properties
41

 
43

 
41

 
149

Impairments
—

 
128

 
—

 
147

(Gains) losses on divestitures, net
(6
)
 
(52
)
 
(1
)
 
(28
)
Total (gains) losses on derivatives, net
254

 
437

 
569

 
473

Operating portion of net cash received (paid) in settlement of derivative instruments
1

 
(171
)
 
2

 
(234
)
Other
70

 
65

 
112

 
139

Changes in assets and liabilities
255

 
(230
)
 
(157
)
 
(202
)
Net Cash Provided by (Used in) Operating Activities
$
776

 
$
1,225

 
$
1,905

 
$
2,655

Net Cash Provided by (Used in) Investing Activities
$
(1,257
)
 
$
(1,943
)
 
$
(2,785
)
 
$
(3,056
)
Net Cash Provided by (Used in) Financing Activities
$
(149
)
 
$
(319
)
 
$
980

 
$
(1,826
)



6

Anadarko Petroleum Corporation
(Unaudited)
 
Three Months Ended
 
Six Months Ended
Summary Financial Information
June 30,
 
June 30,
millions except per-share amounts
2019
 
2018
 
2019
 
2018
Consolidated Statements of Income
 
 
 
 
 
 
 
Revenues and Other
 
 
 
 
 
 
 
Oil sales
$
2,470

 
$
2,265

 
$
4,566

 
$
4,392

Natural-gas sales
205

 
203

 
525

 
450

Natural-gas liquids sales
216

 
318

 
456

 
610

Gathering, processing, and marketing sales
465

 
382

 
935

 
742

Gains (losses) on divestitures and other, net
86

 
123

 
178

 
142

Total
3,442

 
3,291

 
6,660

 
6,336

Costs and Expenses
 
 
 
 
 
 
 
Oil and gas operating
310

 
275

 
599

 
551

Oil and gas transportation
222

 
209

 
444

 
405

Exploration
90

 
94

 
139

 
262

Gathering, processing, and marketing
274

 
252

 
530

 
489

General and administrative
368

 
288

 
635

 
566

Merger transaction costs
1,042

 
—

 
1,042

 
—

Depreciation, depletion, and amortization
1,161

 
1,003

 
2,242

 
1,993

Production, property, and other taxes
182

 
201

 
381

 
391

Impairments
—

 
128

 
—

 
147

Other operating expense
8

 
22

 
29

 
162

Total
3,657

 
2,472

 
6,041

 
4,966

Operating Income (Loss)
(215
)
 
819

 
619

 
1,370

Other (Income) Expense
 
 
 
 
 
 
 
Interest expense
249

 
237

 
502

 
465

(Gains) losses on derivatives, net
254

 
436

 
567

 
471

Other (income) expense, net
18

 
4

 
24

 
(8
)
Total
521

 
677

 
1,093

 
928

Income (Loss) Before Income Taxes
(736
)
 
142

 
(474
)
 
442

Income tax expense (benefit)
209

 
125

 
375

 
251

Net Income (Loss)
(945
)
 
17

 
(849
)
 
191

Net income (loss) attributable to noncontrolling interests
80

 
(12
)
 
191

 
41

Net Income (Loss) Attributable to Common Stockholders
$
(1,025
)
 
$
29

 
$
(1,040
)
 
$
150

Per Common Share
 
 
 
 
 
 
 
Net income (loss) attributable to common stockholders—basic
$
(2.09
)
 
$
0.05

 
$
(2.13
)
 
$
0.28

Net income (loss) attributable to common stockholders—diluted
$
(2.09
)
 
$
0.05

 
$
(2.13
)
 
$
0.28

Average Number of Common Shares Outstanding—Basic
491

 
504

 
491

 
511

Average Number of Common Shares Outstanding—Diluted
491

 
505

 
491

 
512

 
 
 
 
 
 
 
 
Exploration Expense
 
 
 
 
 
 
 
Dry hole expense
$
3

 
$
2

 
$
3

 
$
55

Impairments of unproved properties
38

 
41

 
38

 
94

Geological and geophysical, exploration overhead, and other expense
49

 
51

 
98

 
113

Total
$
90

 
$
94

 
$
139

 
$
262



7

Anadarko Petroleum Corporation
(Unaudited)
 
June 30,
 
December 31,
millions
2019
 
2018
Condensed Balance Sheets
 
 
 
Cash and cash equivalents
$
1,394

 
$
1,295

Accounts receivable, net of allowance
1,779

 
2,026

Other current assets
298

 
474

Net properties and equipment
29,091

 
28,615

Other assets
2,953

 
2,336

Goodwill and other intangible assets
5,614

 
5,630

Total Assets
$
41,129

 
$
40,376

Short-term debt - Anadarko*
31

 
919

Short-term debt - WES
—

 
28

Other current liabilities
3,761

 
3,711

Long-term debt - Anadarko*
10,709

 
10,683

Long-term debt - WES
7,489

 
4,787

Deferred income taxes
2,555

 
2,437

Asset retirement obligations
2,879

 
2,847

Other long-term liabilities
4,374

 
4,021

Common stock
58

 
57

Paid-in capital
13,135

 
12,393

Retained earnings
(149
)
 
1,245

Treasury stock
(4,892
)
 
(4,864
)
Accumulated other comprehensive income (loss)
(379
)
 
(335
)
Total stockholders’ equity
7,773

 
8,496

Noncontrolling interests
1,558

 
2,447

Total Equity
9,331

 
10,943

Total Liabilities and Equity
$
41,129

 
$
40,376

Capitalization
 
 
 
Total debt
$
18,229

 
$
16,417

Total equity
9,331

 
10,943

Total
$
27,560

 
$
27,360

Capitalization Ratios
 
 
 
Total debt
66
%
 
60
%
Total equity
34
%
 
40
%
*
Excludes WES


8

Anadarko Petroleum Corporation
(Unaudited)
Sales Volume and Prices
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Average Daily Sales Volume
 
Sales Volume
 
Average Sales Price
 
Oil
 
Natural Gas
 
NGLs
 
Oil
 
Natural Gas
 
NGLs
 
Oil
 
Natural Gas
 
NGLs
 
MBbls/d
 
MMcf/d
 
MBbls/d
 
MMBbls
 
Bcf
 
MMBbls
 
Per Bbl
 
Per Mcf
 
Per Bbl
Quarter Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
337

 
1,167

 
110

 
32

 
106

 
9

 
$
60.60

 
$
1.93

 
$
19.96

Algeria
60

 
—

 
5

 
5

 
—

 
1

 
67.60

 
—

 
35.83

Other International
37

 
—

 
—

 
3

 
—

 
—

 
71.01

 
—

 
—

Total
434

 
1,167

 
115

 
40

 
106

 
10

 
$
62.45

 
$
1.93

 
$
20.63

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
284

 
1,037

 
95

 
27

 
94

 
8

 
$
66.94

 
$
2.15

 
$
34.66

Algeria
52

 
—

 
5

 
5

 
—

 
1

 
74.73

 
—

 
39.34

Other International
28

 
—

 
—

 
2

 
—

 
—

 
71.76

 
—

 
—

Total
364

 
1,037

 
100

 
34

 
94

 
9

 
$
68.43

 
$
2.15

 
$
34.88

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
335

 
1,159

 
108

 
61

 
210

 
19

 
$
57.90

 
$
2.50

 
$
21.71

Algeria
60

 
—

 
5

 
11

 
—

 
1

 
64.57

 
—

 
35.39

Other International
28

 
—

 
—

 
5

 
—

 
—

 
69.01

 
0.65

 
—

Total
423

 
1,159

 
113

 
77

 
210

 
20

 
$
59.58

 
$
2.50

 
$
22.33

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
286

 
1,044

 
93

 
52

 
189

 
17

 
$
64.75

 
$
2.38

 
$
33.97

Algeria
54

 
—

 
5

 
10

 
—

 
1

 
70.93

 
—

 
40.06

Other International
28

 
—

 
—

 
5

 
—

 
—

 
69.70

 
—

 
—

Total
368

 
1,044

 
98

 
67

 
189

 
18

 
$
66.03

 
$
2.38

 
$
34.27

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Average Daily Sales Volume
MBOE/d
 
Sales Volume
MMBOE
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended June 30, 2019
744
 
68
 
 
 
 
 
 
 
 
 
 
Quarter Ended June 30, 2018
637
 
58
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2019
729
 
132
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2018
640
 
116
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sales Revenue and Commodity Derivatives
 
 
 
 
 
 
 
 
Sales
 
 
Net Cash Received (Paid) from Settlement of Commodity Derivatives
millions
Oil
 
Natural Gas
 
NGLs
 
 
Oil
 
Natural Gas
 
NGLs
Quarter Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
 
 
United States
$
1,862

 
$
205

 
$
200

 
 
$
—

 
$
—

 
$
—

Algeria
372

 
—

 
16

 
 
—

 
—

 
—

Other International
236

 
—

 
—

 
 
—

 
—

 
—

Total
$
2,470

 
$
205

 
$
216

 
 
$
—

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Quarter Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
 
 
United States
$
1,726

 
$
203

 
$
301

 
 
$
(176
)
 
$
6

 
$
—

Algeria
359

 
—

 
17

 
 
—

 
—

 
—

Other International
180

 
—

 
—

 
 
—

 
—

 
—

Total
$
2,265

 
$
203

 
$
318

 
 
$
(176
)
 
$
6

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2019
 
 
 
 
 
 
 
 
 
 
United States
$
3,516

 
$
525

 
$
423

 
 
$
6

 
$
—

 
$
—

Algeria
705

 
—

 
33

 
 
—

 
—

 
—

Other International
345

 
—

 
—

 
 
—

 
—

 
—

Total
$
4,566

 
$
525

 
$
456

 
 
$
6

 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
 
United States
$
3,349

 
$
450

 
$
575

 
 
$
(243
)
 
$
5

 
$
—

Algeria
690

 
—

 
35

 
 
—

 
—

 
—

Other International
353

 
—

 
—

 
 
—

 
—

 
—

Total
$
4,392

 
$
450

 
$
610

 
 
$
(243
)
 
$
5

 
$
—




9

Anadarko Petroleum Corporation
Commodity Hedge Positions
As of July 26, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted Average Price per barrel
 
 
 
Volume
(MBbls/d)
 
Floor Sold
 
Floor Purchased
 
Ceiling Sold
Oil
 
 
 
 
 
 
 
 
Three-Way Collars
 
 
 
 
 
 
 
2019
 
 
 
 
 
 
 
 
WTI
 
57
$
45.00
$
55.00
$
70.22
 
Brent
 
30
$
50.00
$
60.00
$
78.22
 
 
 
87
 
 
 
 
 
 

 
 
 
 
 
 
Interest-Rate Derivatives
As of July 26, 2019
 
 
 
 
 
 
Instrument
Notional Amt.
Reference Period
Mandatory
Termination Date
Rate Paid
Rate Received
Anadarko
 
 
 
 
 
Swap
$550 Million
September 2016 - 2046
September 2020
6.418%
3M LIBOR
Swap
$250 Million
September 2016 - 2046
September 2022
6.809%
3M LIBOR
Swap
$100 Million
September 2017 - 2047
September 2020
6.891%
3M LIBOR
Swap
$250 Million
September 2017 - 2047
September 2021
6.570%
3M LIBOR
Swap
$450 Million
September 2017 - 2047
September 2023
6.445%
3M LIBOR
WES
 
 
 
 
 
Swap
$375 Million
December 2019 - 2024
December 2019
2.662%
3M LIBOR
Swap
$375 Million
December 2019 - 2029
December 2019
2.802%
3M LIBOR
Swap
$375 Million
December 2019 - 2049
December 2019
2.885%
3M LIBOR



10

Anadarko Petroleum Corporation
Reconciliation of Same-Store Sales
Average Daily Sales Volume
 
Quarter Ended June 30, 2019
 
Quarter Ended June 30, 2018
 
Oil
MBbls/d
 
Natural Gas
MMcf/d
 
NGLs
MBbls/d
 
Total
MBOE/d
 
Oil
MBbls/d
 
Natural Gas
MMcf/d
 
NGLs
MBbls/d
 
Total
MBOE/d
U.S. Onshore
207

 
1,073

 
98

 
484

 
169

 
969

 
86

 
417

Gulf of Mexico
130

 
93

 
12

 
158

 
114

 
66

 
9

 
134

International
97

 
—

 
5

 
102

 
80

 
—

 
5

 
85

Same-Store Sales
434

 
1,166

 
115

 
744

 
363

 
1,035

 
100

 
636

Divestitures
—

 
1

 
—

 
—

 
1

 
2

 
—

 
1

Total
434

 
1,167

 
115

 
744

 
364

 
1,037

 
100

 
637

 
 
 
 
 
Six Months Ended June 30, 2019
 
Six Months Ended June 30, 2018
 
Oil
MBbls/d
 
Natural Gas
MMcf/d
 
NGLs
MBbls/d
 
Total
MBOE/d
 
Oil
MBbls/d
 
Natural Gas
MMcf/d
 
NGLs
MBbls/d
 
Total
MBOE/d
U.S. Onshore
201

 
1,061

 
96

 
474

 
163

 
968

 
84

 
408

Gulf of Mexico
134

 
96

 
12

 
162

 
120

 
72

 
9

 
141

International
88

 
—

 
5

 
93

 
82

 
—

 
5

 
87

Same-Store Sales
423

 
1,157

 
113

 
729

 
365

 
1,040

 
98

 
636

Divestitures
—

 
2

 
—

 
—

 
3

 
4

 
—

 
4

Total
423

 
1,159

 
113

 
729

 
368

 
1,044

 
98

 
640