Anadarko Petroleum says storms hurt 3Q volume

Houston-based Anadarko said late Monday that by the end of this week, all of the deepwater facilities it operates will be working again after Hurricanes Ike and Gustav. It also said its Independence Hub quickly returned to pre-Ike production levels of 900 million cubic feet of natural gas per day.

The company said it expects total sales volumes for the third quarter to be near 51 million barrels of oil equivalent per day, at the low end of its guidance. It said almost 5 million BOE were shut in during the quarter because of severe storms, including Hurricanes Gustav and Ike.

Anadarko said the repair schedule for third-party downstream facilities "could significantly affect fourth-quarter sales volumes, as some production remains shut in or curtailed." It said the uncertainty means it doesn't know when it will resume full production, so it expects its fourth-quarter sales volume will be in the range of 49 million BOE to 55 million BOE.

Shares of the company added $1.66, or 3.7 percent, to $46.50 in morning trading.