It's a great time to be an oil and gas exploration and production company, and for proof of that, look no further than Anadarko Petroleum (NYSE:APC). Its earnings reports in recent quarters show that it's a company on the rise, thanks to a strong asset portfolio and the global boom in energy production. Anadarko is putting up great numbers, and management had equally great things to say about what the future holds.

Here's what Anadarko Petroleum management wants you to know from its most recent quarterly conference call.

Anadarko's strategy is clearly working

Our operating performance was outstanding in Q2 further demonstrating that our strategy, portfolio and employees are all aligned to deliver strong results and shareholder value. —President and Chief Executive Officer Al Walker

Last quarter, Anadarko's growth in U.S. onshore volumes hit a record, increasing by 117,000 barrels per day. Half of this growth was from oil, which benefits Anadarko because liquids are higher-margin products.

In all, Anadarko's average daily sales volumes also hit a record last quarter. Anadarko is realizing the benefits of a global, diversified business model, with significant operations spread across domestic onshore fields, the deepwater Gulf of Mexico, and several international interests.

Premier assets pay off

The biggest contribute was Wattenberg which grew an impressive 39,000 BOE per day sequentially. —Walker

Wattenberg is a large natural gas field located in Colorado's Denver Basin. This field achieved a record 169,000 barrels of oil equivalent per day last quarter, which represented nearly 60% growth year-over-year. This was due to Anadarko's focus on higher-margin liquids production, thanks to the continued success of the company's horizontal drilling program. In fact, 80% of Anadarko's growth at Wattenberg was comprised of liquids.

There should be even more growth in store

Going forward based on our impressive results so far this year we're again increasing our sales guidance for the full year. --Walker

After releasing earnings, Anadarko increased the midpoint of its 2014 sales volume guidance by 5 million barrels of oil equivalent. This represents almost 10% comparable production growth year over year. International growth will help Anadarko reach its goals. Anadarko achieved oil production milestones at its El Merk development in Algeria. Production there eclipsed 150,000 barrels per day recently. At the Jubilee field offshore Ghana, cumulative oil production reached 100 million barrels last quarter.

West Texas should add to growth

In addition to our Wattenberg and Eagle Ford positions, we have another significant emerging oil opportunity in the Wolfcamp Shale and the Delaware Basin in West Texas. --Walker

A solid opportunity going forward will be further development of Anadarko's West Texas position. The company holds a 600,000 gross acre land position. The company is looking forward to strong production of high-margin oil. Management states a high level of confidence in one particular area of the position, which has grown sales volumes of more than 5,500 BOE per day from the second quarter of 2013. Further investment in infrastructure there leads management to believe the area has very high potential.

Compelling shareholder rewards

We generated free cash flow and ended the quarter with nearly $5.4 billion in cash on-hand. —Walker

Anadarko management increased its dividend by 50% after releasing second-quarter results. This makes it very clear that the company takes its commitment to providing shareholders with cash returns very seriously. Over the past five years, Anadarko has increased its dividend by 24% compounded annually.

The bottom line is that Anadarko has a diverse asset portfolio, and its positions are all contributing to its impressive growth. The future should be equally promising, thanks to continued investment and development of some highly promising areas, such as West Texas and the company's international interests.

Shareholders are benefiting as well, from Anadarko's solid share price performance as well as its compelling shareholder returns. The company is doing very well right now, and management wants its investors to know that.

Bob Ciura has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.