Andarko Petroleum Corporation (APC), a Texas-based company with 60% of its business in the United States, is distinguishing itself with significant international discoveries in Africa and Brazil, says Stuart Shikiar, Chairman and Chief Investment Officer of Shikiar Asset Management Inc.
“[Andarko] has a market capitalization of $45 billion. They operate in the United States, with seven or eight major onshore energy properties that they have exploited brilliantly, and approximately 60% of their business is in the United States. However, they have distinguished themselves with some gigantic discoveries in Africa, specifically Mozambique, Ghana and Brazil,” Shikiar said.
FOR MORE INFORMATION ABOUT THIS INTERVIEW CLICK HERE.
As a solid energy company with opportunities overseas and the possibility of a future acquisition by a larger energy player, Andarko is one of Shikiar’s favorite long-term holdings.
“In Mozambique, they just sold a small part of their stake for almost $3 billion. So this is a very powerful energy company that we believe still remains highly attractive, and at some point it would not surprise us for one of the very, very large energy companies to consider Anadarko as a possible acquisition target,” Shikiar said.
Anadarko Petroleum Corporation (APC) Explores for Gas in East Africa and Expects Benign Tronox Resolution
February 12, 2013
Chuy’s Holdings (CHUY) Expected to Underperform in Q1 and as it Expands Beyond Texas
March 15, 2013
DeVry Inc. (DV) Expands International Footprint to Brazil to Take Advantage of Attractive Competitive Dynamic
September 04, 2013
Union Pacific Corporation (UNP) Can Grow Dividend Beyond 2.85%
January 13, 2016
Mining for Gold and Other Metals in 2021 and Beyond
December 07, 2020
