Analysis of Inventory
Inventory Disclosure
Anadarko Petroleum Corp., balance sheet: inventory
US$ in millions
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Oil | 169) | 116) | 133) | 88) | 91) | ||||||
| Natural gas | 38) | 36) | 27) | 43) | 48) | ||||||
| NGLs | 106) | 64) | 83) | 79) | 37) | ||||||
| Inventories | 313) | 216) | 243) | 210) | 176) |
Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).
Total inventories exhibited a general upward trajectory between 2012 and 2016, increasing from 176 million USD to 313 million USD. Although a moderate contraction occurred in 2015, the subsequent surge in 2016 represents the highest inventory level within the observed period.
- Oil Inventory Trends
- Oil represents the largest component of the inventory portfolio. A general increase is observed, rising from 91 million USD in 2012 to 169 million USD in 2016. The most significant growth occurred between 2015 and 2016, where values rose by approximately 45%.
- Natural Gas Inventory Trends
- Natural gas inventories demonstrated an inverse trend compared to other assets. Values declined from 48 million USD in 2012 to a low of 27 million USD in 2014, followed by a partial recovery to 38 million USD by the end of 2016.
- NGLs Inventory Trends
- Natural Gas Liquids (NGLs) showed substantial growth and volatility. Starting at 37 million USD in 2012, the value more than doubled by 2013 and reached a peak of 106 million USD in 2016, indicating a significant expansion in this asset class.
- Inventory Composition Analysis
- A strategic shift in inventory composition is evident. In 2012, oil accounted for approximately 51.7% of total inventories; by 2016, this share increased to 54%. Simultaneously, the reliance on natural gas as a portion of total inventory decreased from 27.3% in 2012 to 12.1% in 2016, while NGLs grew from 21% to 33.9% of the total mix.
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