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.
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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.
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