Anadarko's Q2 results were under whelming, with net profit of US$29 million coming in below analyst expectations. Production remained flat with last quarter as facility downtime in Deepwater GoM offset a strong performance from the DJ and Delaware Basins Onshore US. Capex guidance was up net US$250 million, with spend Onshore US up a notable US$550 million, and spend on its other assets down US$300 million. Aggressive spend on share buybacks has increased Anadarko's combined dividend and buyback yield to over 9%, the highest amongst its peers. But the move has put pressure on the balance sheet with net debt creeping up to US$14 billion and gearing reaching 55% by the end of the quarter.