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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (52164)	9/29/1999 11:34:00 PM
From: k.ramesh	Read Replies (1) \| Respond to of 95453

APC expected to beat estimates..duh.. Anadarko Petroleum Expects 3rd-Qtr Profit to Exceed Estimates San Francisco, Sept. 28 (Bloomberg) -- Anadarko Petroleum Co. expects third-quarter profit to beat analyst estimates on higher oil prices and production from fields in Algeria and the U.S., Chairman and Chief Executive Robert Allison said. Houston-based Anadarko was expected to earn 10 cents a share in the third quarter, the average estimate of analysts surveyed by FirstCall Corp. It posted a loss of 2 cents a year earlier. For Anadarko, higher oil and natural gas prices combined with increased production and fewer dry hole expenses, pushing profit higher than anticipated, Allison said. ``We're seeing a huge increase in third-quarter earnings,' Allison told investors at Banc of America's Securities conference in San Francisco. ``We'll beat the 10-cent consensus handily.' Anadarko shares fell 1 11/16, or 5.5 percent, to 29, a six- month low.Allison's comments came after the close of New York trading. quote.bloomberg.com