Buy low, sell high. It's a maxim taught to stock traders from day one and one which Anadarko Petroleum's upper-level management seems to have taken to heart in the aftermath of the April gas line explosion that blew up a Colorado home, leaving two dead and one badly injured.
Since the explosion, five members sitting on either Anadarko's board of directors or executive officer team have purchased a combined $2.6 million worth of company stock, totaling over 46,700 shares, according to data on InsiderInsights.com and first reported by investor analyst site SeekingAlpha.com. Anadarko's stock price has fallen nearly $10 per share since the April 17 blast.
However, the trouble may have just begun for the Texas-based company at the center of Colorado's hydraulic fracturing (“fracking”) boom. On May 25, an Anadarko oil well exploded just a few miles from the mid-April gas line explosion site. That incident, also in Firestone, Colorado, left one dead and three others injured.