EX-99 2 a5268184ex99.txt EXHIBIT 99 Exhibit 99 Anadarko Announces Third Quarter Results HOUSTON--(BUSINESS WIRE)--Nov. 6, 2006--Anadarko Petroleum Corporation (NYSE:APC) today announced third quarter 2006 net income available to common shareholders of $1.46 billion, or $3.15 per share (diluted), and income from continuing operations of $1.38 billion, or $2.98 per share (diluted). These results included $873 million ($567 million after tax) or $1.23 per share (diluted) of unrealized gains on derivatives. The third quarter performance includes the results of Kerr-McGee Corporation and Western Gas Resources beginning on their respective Aug. 10 and Aug. 23, 2006, acquisition dates, while continuing operations results exclude Anadarko's divested Canadian subsidiary. In the 2005 third quarter, net income available to common shareholders was $596 million, or $1.25 per share (diluted) on a split-adjusted basis, and income from continuing operations was $532 million, or $1.12 per share (diluted). Third quarter 2005 results from continuing operations included $99 million ($64 million after tax) or $.13 per share (diluted) of unrealized losses on derivatives. Cash flow from operating activities of continuing operations was $1.57 billion in the third quarter 2006, and discretionary cash flow totaled $1.11 billion.(1) "The third quarter was very significant for Anadarko as we completed two major acquisitions and began repositioning our company for the future, including the divestiture of our Canadian subsidiary and certain deepwater properties, which will help us de-lever the balance sheet," Anadarko Chairman, President and CEO Jim Hackett said. "Financial and operating results continued to be strong, assisted by partial-quarter contributions from Kerr-McGee and Western Gas. In addition, we are already beginning to achieve operating synergies within our expanded core Gulf of Mexico deepwater and Rockies unconventional resource plays, providing further conviction that the combined portfolio can deliver competitive growth and returns." Third quarter sales volumes of natural gas, crude oil and natural gas liquids totaled 54 million barrels of oil equivalent (BOE), or 585,000 BOE per day. Sales volumes from continuing operations totaled 49 million BOE, or 530,000 BOE per day, as natural gas sales averaged 1.69 billion cubic feet per day, oil sales averaged 203,000 barrels per day, and natural gas liquids sales averaged 45,000 barrels per day. EARNINGS CONFERENCE CALL TOMORROW AT 9:00 A.M. CST, 10:00 A.M. EST Anadarko will host an earnings conference call tomorrow at 9:00 a.m. Central Standard Time (10:00 a.m. Eastern Standard Time) to discuss third quarter 2006 results and the company's outlook for the remainder of the year. The dial-in number is 913-981-5591 and the confirmation number is 5964619. For complete instructions on how to actively participate in the conference call, or to listen to the live audio webcast or a replay, please refer to www.anadarko.com. ANADARKO OPERATIONS REPORT For more details on Anadarko's operations, please refer to the comprehensive report on third quarter activity. The report will be available at www.anadarko.com on the Investor Relations page. FINANCIAL DATA Eight pages of summary financial data follow, including current hedge positions and guidance. Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2005, the company had 2.45 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. In August 2006, Anadarko acquired Kerr-McGee Corporation and Western Gas Resources, Inc. in separate transactions. (1) See accompanying table for a reconciliation of GAAP to non-GAAP financial measures and statement indicating why management believes the non-GAAP measures are useful information for investors. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release. See "Risk Factors" in the company's 2005 Annual Report on Form 10-K and other public filings, press releases and discussions with company management. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements. Anadarko Petroleum Corporation Reconciliation of GAAP to Non-GAAP Measures Below is a reconciliation of cash provided by operating activities (GAAP) to discretionary cash flow (non-GAAP) as required under Regulation G of the Securities Exchange Act of 1934. The company uses discretionary cash flow to demonstrate the company's ability to internally fund capital expenditures and to service or incur additional debt. It is useful in comparisons of oil and gas exploration and production companies because it excludes fluctuations in assets and liabilities. Quarter Ended September 30 ----------------- millions 2006 2005 ---------------------------------------------------------------------- Cash Flow ---------------------------------------------------------------------- Net cash provided by operating activities - continuing operations $1,571 $903 Add back: Change in accounts receivable (43) 386 Change in accounts payable and accrued expenses (233) (272) Change in other items - net (181) (41) ---------------------------------------------------------------------- Discretionary Cash Flow from Continuing Operations $1,114 $976 ---------------------------------------------------------------------- Anadarko Petroleum Corporation Quarter Ended Year to Date Summary Financial Information September 30 September 30 ---------------- --------------- $ and shares in millions 2006 2005 2006 2005 ---------------------------------------------------------------------- Revenues ---------------------------------------------------------------------- Gas sales $1,546 $701 $2,917 $1,961 Oil and condensate sales 1,496 714 3,304 1,955 Natural gas liquids sales 184 115 429 321 Other sales 272 (5) 358 33 ---------------------------------------------------------------------- Total 3,498 1,525 7,008 4,270 ---------------------------------------------------------------------- Costs and Expenses ---------------------------------------------------------------------- Direct operating 252 104 536 317 Transportation and cost of product 245 69 428 197 General and administrative 159 87 387 275 Depreciation, depletion and amortization 546 272 1,201 820 Other taxes 127 97 335 268 Impairments 13 13 31 13 ---------------------------------------------------------------------- Total 1,342 642 2,918 1,890 ---------------------------------------------------------------------- Operating Income 2,156 883 4,090 2,380 ---------------------------------------------------------------------- Interest Expense and Other (Income) Expense ---------------------------------------------------------------------- Interest expense 209 51 313 156 Other (income) expense (14) (36) (21) (31) ---------------------------------------------------------------------- Total 195 15 292 125 ---------------------------------------------------------------------- Income Before Income Taxes 1,961 868 3,798 2,255 ---------------------------------------------------------------------- Income Tax Expense 579 336 1,188 856 ---------------------------------------------------------------------- Income from Continuing Operations $1,382 $532 $2,610 $1,399 ---------------------------------------------------------------------- Income from Discontinued Operations 79 66 327 197 ---------------------------------------------------------------------- Net Income $1,461 $598 $2,937 $1,596 ---------------------------------------------------------------------- Preferred Stock Dividends - 2 2 4 ---------------------------------------------------------------------- Net Income Available to Common Stockholders $1,461 $596 $2,935 $1,592 ---------------------------------------------------------------------- Per Common Share ---------------------------------------------------------------------- Income from continuing operations - basic $3.00 $1.13 $5.67 $2.95 Income from continuing operations - diluted $2.98 $1.12 $5.63 $2.93 Income from discontinued operations - basic $0.17 $0.14 $0.71 $0.42 Income from discontinued operations - diluted $0.17 $0.14 $0.70 $0.41 Net income - basic $3.18 $1.27 $6.38 $3.37 Net income - diluted $3.15 $1.25 $6.33 $3.34 ---------------------------------------------------------------------- Average Number of Common Shares Outstanding - Basic 460 471 460 472 ---------------------------------------------------------------------- Average Number of Common Shares Outstanding - Diluted 463 476 464 477 ---------------------------------------------------------------------- Anadarko Petroleum Corporation Quarter Ended Year to Date Summary Financial Information September 30 September 30 --------------- --------------- $ in millions 2006 2005 2006 2005 ---------------------------------------------------------------------- Cash Flow from Operating Activities ---------------------------------------------------------------------- Net income $1,461 $598 $2,937 $1,596 Less net income from discontinued operations (79) (66) (327) (197) Depreciation, depletion and amortization 546 272 1,201 820 Deferred income taxes 85 91 218 209 Impairments 13 13 31 13 Unrealized (gains) losses on derivatives (886) 99 (883) 112 Other noncash items (26) (31) 1 (8) ---------------------------------------------------------------------- Discretionary Cash Flow from Continuing Operations 1,114 976 3,178 2,545 (Increase) decrease in accounts receivable 43 (386) 388 (273) Increase (decrease) in accounts payable and accrued expenses 233 272 (243) 233 Other items - net 181 41 97 (43) ---------------------------------------------------------------------- Cash provided by operating activities - continuing operations 1,571 903 3,420 2,462 Cash provided by operating activities - discontinued operations 117 241 447 413 ---------------------------------------------------------------------- Net Cash Provided by Operating Activities $1,688 $1,144 $3,867 $2,875 ---------------------------------------------------------------------- ---------------------------------------------------------------------- Capital Expenditures ---------------------------------------------------------------------- Capital spending $1,117 $703 $2,696 $1,892 Capitalized interest 19 15 47 45 Capitalized overhead 45 28 124 100 ---------------------------------------------------------------------- Capital expenditures - continuing operations 1,181 746 2,867 2,037 Capital expenditures - discontinued operations 177 108 520 370 ---------------------------------------------------------------------- Total $1,358 $854 $3,387 $2,407 ---------------------------------------------------------------------- September December September 30, 31, 30, 2006 2005 2005 ---------------------------------------------------------------------- Condensed Balance Sheet ---------------------------------------------------------------------- Cash and cash equivalents $1,803 $561 $766 Other current assets 3,140 1,878 1,655 Current assets held for sale 407 477 559 Net properties and equipment 42,305 15,195 14,672 Other assets 1,093 561 409 Goodwill 8,053 1,089 1,179 Long-term assets held for sale 3,375 2,827 2,772 ---------------------------------------------------------------------- Total Assets $60,176 $22,588 $22,012 ---------------------------------------------------------------------- Current debt $16,663 $80 $30 Other current liabilities 4,177 1,984 2,092 Current liabilities held for sale 339 339 313 Long-term debt 11,163 3,547 3,595 Other long-term liabilities 13,264 4,812 4,579 Other long-term liabilities held for sale 798 775 829 Stockholders' equity 13,772 11,051 10,574 ---------------------------------------------------------------------- Total Liabilities and Stockholders' Equity $60,176 $22,588 $22,012 ---------------------------------------------------------------------- Capitalization ---------------------------------------------------------------------- Total debt $27,826 $3,627 $3,625 Stockholders' equity 13,772 11,051 10,574 ---------------------------------------------------------------------- Total $41,598 $14,678 $14,199 ---------------------------------------------------------------------- Capitalization Ratios ---------------------------------------------------------------------- Total debt 67% 25% 26% Stockholders' equity 33% 75% 74% ---------------------------------------------------------------------- Anadarko Petroleum Corporation Quarter Ended Year to Date Volumes and Prices September 30 September 30 ----------------- ----------------- 2006 2005 2006 2005 --------------------------------------------------------------------- Natural Gas --------------------------------------------------------------------- United States --------------------------------------------------------------------- Volumes, billion cubic feet 156 101 353 311 Average daily volumes, million cubic feet per day 1,693 1,098 1,294 1,142 Price per thousand cubic feet excluding derivatives $6.03 $7.58 $6.48 $6.52 --------------------------------------------------------------------- Gains (losses) on derivatives $3.90 $(0.64) $1.78 $(0.23) --------------------------------------------------------------------- Total price per thousand cubic feet $9.93 $6.94 $8.26 $6.29 --------------------------------------------------------------------- Crude Oil and Condensate --------------------------------------------------------------------- United States --------------------------------------------------------------------- Volumes, million barrels 11 6 25 18 Average daily volumes, thousand barrels per day 126 68 93 67 Price per barrel excluding derivatives $64.57 $58.87 $62.69 $50.37 --------------------------------------------------------------------- Gains (losses) on derivatives $25.69 $(15.44) $10.79 $(8.43) --------------------------------------------------------------------- Price per barrel $90.26 $43.43 $73.48 $41.94 --------------------------------------------------------------------- Algeria --------------------------------------------------------------------- Volumes, million barrels 6 6 18 18 Average daily volumes, thousand barrels per day 60 65 64 66 Price per barrel $68.09 $61.18 $67.43 $53.58 --------------------------------------------------------------------- Other International --------------------------------------------------------------------- Volumes, million barrels 2 2 5 6 Average daily volumes, thousand barrels per day 17 21 18 21 Price per barrel $52.69 $42.31 $51.27 $37.70 --------------------------------------------------------------------- Total --------------------------------------------------------------------- Volumes, million barrels 19 14 48 42 Average daily volumes, thousand barrels per day 203 154 175 154 Price per barrel excluding derivatives $64.60 $57.58 $63.26 $50.00 --------------------------------------------------------------------- Gains (losses) on derivatives $15.81 $(6.70) $5.72 $(3.64) --------------------------------------------------------------------- Total price per barrel $80.41 $50.88 $68.98 $46.36 --------------------------------------------------------------------- Natural Gas Liquids --------------------------------------------------------------------- United States --------------------------------------------------------------------- Volumes, million barrels 4 3 10 10 Average daily volumes, thousand barrels per day 45 33 38 36 Price per barrel excluding derivatives $44.70 $37.87 $41.46 $33.17 --------------------------------------------------------------------- Gains (losses) on derivatives $(0.47) $- $(0.18) $- --------------------------------------------------------------------- Total price per barrel $44.23 $37.87 $41.28 $33.17 --------------------------------------------------------------------- Total Barrels of Oil Equivalent (BOE) - continuing operations --------------------------------------------------------------------- Volumes, million BOE 49 34 117 104 Average daily volumes, thousand BOE per day 530 370 429 380 --------------------------------------------------------------------- --------------------------------------------------------------------- Total Barrels of Oil Equivalent (BOE) - discontinued operations --------------------------------------------------------------------- Volumes, million BOE 5 5 15 15 Average daily volumes, thousand BOE per day 55 56 55 56 --------------------------------------------------------------------- Total Barrels of Oil Equivalent (BOE) --------------------------------------------------------------------- Volumes, million BOE 54 39 132 119 Average daily volumes, thousand BOE per day 585 426 484 436 --------------------------------------------------------------------- Anadarko Petroleum Corporation Financial and Operating Guidance Continuing Operations As of November 6, 2006 4th Quarter Total Year 2006 Forecast 2006 Forecast ----------------- ----------------- Units Units ----------------- ----------------- Total Sales (MMBOE) 59 - 62 176 - 179 Crude Oil (MBbl/d): 243 - 250 191 - 195 United States 157 - 160 108 - 109 Algeria 60 - 64 64 - 65 Other International 25 - 27 19 - 21 Natural Gas (MMcf/d): United States 2,212 - 2,290 1,530 - 1,560 Natural Gas Liquids (MBbl/d): United States 38 - 41 38 - 40 ---------------------------------------------------------------------- $/Unit $/Unit ----------------- ----------------- Price Differentials vs NYMEX (w/o hedges) Crude Oil ($/Bbl): (4.50) - (6.50) (5.00) - (6.00) United States (5.50) - (7.50) (5.50) - (6.50) Algeria (1.25) - (1.75) (0.75) - (1.25) Other International (13.00) - (15.00) (14.00) - (15.00) Natural Gas ($/Mcf): United States (0.60) - (1.20) (0.90) - (1.10) ---------------------------------------------------------------------- Anadarko Petroleum Corporation Financial and Operating Guidance Continuing Operations As of November 6, 2006 4th Quarter Total Year 2006 Forecast 2006 Forecast ----------------- ----------------- $MM $MM ----------------- ----------------- Other Revenues: Marketing and Gathering Margin (net) 55 - 65 120 - 130 Minerals and Other 35 - 40 90 - 95 ---------------------------------------------------------------------- Costs and Expenses: $/Boe $/Boe ----------------- ----------------- Oil & Gas Direct Operating 4.20 - 4.50 4.00 - 4.10 Oil & Gas Transportation/Other 1.00 - 1.50 1.00 - 1.20 Depreciation, Depletion and Amortization 11.00 - 11.40 10.50 - 10.65 Production Taxes (% of Revenue) 5.5% - 6.0% 5.5% - 5.7% $MM $MM ----------------- ----------------- General and Administrative 190 - 210 565 - 585 Impairments Related to Oil and Gas Properties - - 50 30 - 80 (excluding potential Venezuela impact) Interest Expense 350 - 370 550 - 570 Other (Income) Expense (10) - 5 (20) - - Federal Tax Rate 30% - 35% 31% - 33% Deferred Taxes (% of Total Taxes) 20% - 40% 20% - 30% ---------------------------------------------------------------------- Avg. Shares Outstanding MM MM Basic 460 - 462 460 - 461 Diluted 464 - 465 464 - 465 $MM $MM ----------------- ----------------- Capital Investment 1,450 - 1,650 4,350 - 4,550 Capital Projects 1,377 - 1,564 4,110 - 4,290 Capitalized Direct Expenses 60 - 70 180 - 195 Capitalized Interest 13 - 16 60 - 65 Anadarko Petroleum Corporation Commodity Hedge Position for 4th Quarter 2006 and Beyond (excluding Natural Gas Basis) As of November 6, 2006 ---------------------------------------------------------------------- Positions Not Receiving Hedge Accounting ----------------- -------------------------- Fixed and Physical 2- Way Collars -------------------------------------------- ------------------------- ----------------- -------------------------- NYMEX Volume Price Volume Floor Ceiling Crude Oil Bbl/day $/Bbl Bbl/day $/Bbl $/Bbl ------------------------- ----------------- -------------------------- United States ----------------- -------------------------- 4th Qtr 2006 23,500 $53.04 44,137 $36.73 $49.82 ----------------- -------------------------- ----------------- -------------------------- Total Year 2007 27,250 $51.44 18,542 $44.33 $60.40 ----------------- -------------------------- Total Year 2008 Total Year 2009 ------------------------- ----------------- -------------------------- NYMEX Volume Price Volume Floor Ceiling NGL's Bbl/day $/Bbl Bbl/day $/Bbl $/Bbl ------------------------- ----------------- -------------------------- United States -------------------------- 4th Qtr 2006, Propane 4,500 $34.86 $43.68 -------------------------- -------------------------- 4th Qtr 2006, Ethane 6,500 $21.42 $28.14 -------------------------- ------------------------- ----------------- -------------------------- NYMEX Volume Price Volume Floor Ceiling Natural Gas MMMBtu/d $/MMBtu MMMBtu/d $/MMBtu $/MMBtu ------------------------- ----------------- -------------------------- United States ----------------- -------------------------- 4th Qtr 2006 196.0 $7.54 662.0 $5.58 $8.38 ----------------- -------------------------- ----------------- -------------------------- Total Year 2007 265.0 $7.03 386.0 $6.27 $10.73 ----------------- -------------------------- Total Year 2008 Total Year 2009 ---------------------------------------------------------------------- Positions Not Receiving Hedge Accounting --------------------------------- 3- Way Collars --------------------------------- ----------------------------------- --------------------------------- Sold Purchased Volume Floor Floor Ceiling Crude Oil Bbl/day $/Bbl $/Bbl $/Bbl ----------------------------------- --------------------------------- United States --------------------------------- 4th Qtr 2006 2,000 $20.88 $25.00 $28.65 --------------------------------- --------------------------------- Total Year 2007 3,000 $50.00 $65.00 $86.22 --------------------------------- --------------------------------- Total Year 2008 39,000 $45.00 $60.00 $100.10 --------------------------------- --------------------------------- Total Year 2009 3,000 $45.00 $60.00 $87.00 --------------------------------- ----------------------------------- --------------------------------- Sold Purchased Volume Floor Floor Ceiling NGL's Bbl/day $/Bbl $/Bbl $/Bbl ----------------------------------- --------------------------------- United States 4th Qtr 2006, Propane 4th Qtr 2006, Ethane ----------------------------------- --------------------------------- Sold Purchased Volume Floor Floor Ceiling Natural Gas MMMBtu/d $/MMBtu $/MMBtu $/MMBtu ---------------------------------------------------------------------- United States --------------------------------- 4th Qtr 2006 20.0 $3.04 $4.00 $6.00 --------------------------------- --------------------------------- Total Year 2007 20.0 $6.00 $9.00 $11.25 --------------------------------- --------------------------------- Total Year 2008 390.0 $5.00 $7.50 $14.29 --------------------------------- --------------------------------- Total Year 2009 50.0 $5.00 $7.50 $12.60 --------------------------------- Positions Receiving Hedge Accounting ----------------- ------------------------- Fixed and Physical 2- Way Collars ----------------- ------------------------- ----------------------- ----------------- ------------------------- NYMEX Volume Price Volume Floor Ceiling Crude Oil Bbl/day $/Bbl Bbl/day $/Bbl $/Bbl ----------------------- ----------------- ------------------------- United States Total Year 2007 Total Year 2008 Total Year 2009 Total Year 2010 Total Year 2011 Total Year 2012 Algeria Total Year 2008 Total Year 2009 Total Year 2010 ----------------------- ----------------- ------------------------- NYMEX Volume Price Volume Floor Ceiling Natural Gas MMMBtu/d $/MMBtu MMMBtu/d $/MMBtu $/MMBtu ----------------------- ----------------- ------------------------- United States Total Year 2007 Total Year 2008 Positions Receiving Hedge Accounting ---------------------------------- 3- Way Collars ---------------------------------- ---------------------------------- ---------------------------------- Sold Purchased Volume Floor Floor Ceiling Crude Oil Bbl/day $/Bbl $/Bbl $/Bbl ---------------------------------- ---------------------------------- United States ---------------------------------- Total Year 2007 32,000 $42.97 $57.97 $86.16 ---------------------------------- ---------------------------------- Total Year 2008 28,000 $40.71 $55.71 $87.30 ---------------------------------- ---------------------------------- Total Year 2009 25,000 $39.80 $54.80 $87.38 ---------------------------------- ---------------------------------- Total Year 2010 8,000 $35.00 $50.00 $86.49 ---------------------------------- ---------------------------------- Total Year 2011 3,000 $35.00 $50.00 $86.00 ---------------------------------- ---------------------------------- Total Year 2012 1,500 $35.00 $50.00 $92.50 ---------------------------------- Algeria ---------------------------------- Total Year 2008 19,000 $33.51 $48.51 $86.73 ---------------------------------- ---------------------------------- Total Year 2009 20,000 $33.51 $48.51 $86.62 ---------------------------------- ---------------------------------- Total Year 2010 10,000 $33.53 $48.53 $86.98 ---------------------------------- ---------------------------------- ---------------------------------- Sold Purchased Volume Floor Floor Ceiling Natural Gas MMMBtu/d $/MMBtu $/MMBtu $/MMBtu ---------------------------------- ---------------------------------- United States ---------------------------------- Total Year 2007 10.0 $6.00 $9.00 $11.18 ---------------------------------- ---------------------------------- Total Year 2008 110.0 $5.00 $7.50 $14.14 ---------------------------------- Anadarko Petroleum Corporation Natural Gas Basis Hedge Position for 4th Quarter 2006 and Beyond As of November 6, 2006 ---------------------------------------------------------------------- ----------------------------------------- Daily Volume (MMBtu's) by Pricing Point ---------------------------------------------------------------------- Pricing Point 4th Qtr 2006 2007 2008 2009 ---------------------------------------------------------------------- Gulf Coast 800 130,600 110,000 - Mid Continent 57,500 220,000 210,000 - Rocky Mountains 332,120 196,055 244,973 20,000 West Texas 7,500 10,000 10,000 - ----------------------------------------- Total Daily Volume Hedged 397,920 556,655 574,973 20,000 ========================================= ----------------------------------------- Average Price Differential to Henry Hub ---------------------------------------------------------------------- Pricing Point 4th Qtr 2006 2007 2008 2009 ---------------------------------------------------------------------- Gulf Coast ($0.028) ($0.614) ($0.475) - Mid Continent ($0.112) ($0.986) ($0.922) - Rocky Mountains ($1.498) ($1.469) ($1.426) ($1.080) West Texas ($0.970) ($1.196) ($1.080) - ----------------------------------------- Average Price Differential Hedged ($1.283) ($1.081) ($1.053) ($1.080) ========================================= ---------------------------------------------------------------------- Rockies Export Firm Transportation As of November, 2006 ---------------------------------------------------------------------- ---------------------------------------------------------------------- Delivery/Pricing Point 4th Qtr 2006 2007 2008 2009 ---------------------------------------------------------------------- Mid Continent 471 471 332 - West Coast 103 103 78 - ----------------------------------------- Total 574 574 410 0 ========================================= CONTACT: Anadarko Petroleum Corporation, Houston Media: Teresa Wong, 832-636-1203 teresa.wong@anadarko.com or John Christiansen, 832-636-8736 john.christiansen@anadarko.com or Susan Richardson, 832-636-1537 susan.richardson@anadarko.com or Investors: John Colglazier, 832-636-2306 john.colglazier@anadarko.com or Stewart Lawrence, 832-636-3326 stewart.lawrence@anadarko.com