Anadarko Petroleum Increases Share-Repurchase Program By $1.0 Bln

(RTTNews) - Anadarko Petroleum Corp.(APC) said that its board has authorized an expansion of the company's share-repurchase program to $4.0 billion, representing a $1.0 billion increase.

The company completed the first $3.0 billion of this program on June 29, 2018. In addition, Anadarko announced a $500 million increase to its debt-reduction program, bringing the total planned to $1.5 billion.

Bob Gwin, Anadarko Executive Vice President, Finance and CFO said, "We aggressively completed the previously announced $3.0 billion share-repurchase program in just over nine months. We also retired $100 million of debt at maturity in May with an additional $900 million expected to be retired upon maturity in the first half of 2019."