Anadarko Petroleum 10-Q2001 Q2 Quarterly report

Filed: 13 Aug 01, 12:00am

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New words: abandoned, ahead, Anderson, API, attractive, back, Barney, Bend, Beth, Bromide, Cadomin, Cameron, CBM, Cecilia, CLF, comment, comply, Cone, confirming, criteria, discontinued, downthrown, dually, ELH, Emerging, eriod, exposu, Frontier, Gap, Garnet, George, Geren, Glen, Grady, Graham, Grove, Gulfstream, hole, horizon, HR, Hunton, indefinite, inNote, instru, intangible, Jacknife, Jeff, Klua, Lawrence, length, life, Lindahl, literature, longer, Lookout, Lost, Louetta, Madagascar, maintained, Mannville, McClain, McClure, Middle, Mischer, Moody, Moose, Morton, Mossey, Nanuq, oilfield, oldest, Oman, Parker, partner, plugged, Poduska, Polar, Preston, Qatar, reactivated, Reagan, redevelopment, Reveille, Ridge, Sandefer, Sarah, sho, shutdown, Siberia, single, smart, sportation, Sr, Steelman, subsea, successfully, Sycamore, Task, technical, technology, Temblor, temporarily, tentative, Tex, Tooth, Tran, ty, uch, uld, unamortized, unexercised, unstimulated, UPRC, vessel, Viola, waiting, Walker, WI, wireline, Woodford, written

Removed: added, adding, Altogether, amendment, Berkine, Buffalo, check, coast, commenced, compression, cubic, deep, develop, Eddy, engineering, fourth, Hassi, injection, law, Marco, offering, operator, original, pace, Polo, region, rehearing, Snyder, Spring, TAGI, thousand, TXL, western

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EXHIBIT 12

ANADARKO PETROLEUM CORPORATION
CONSOLIDATED STATEMENT OF COMPUTATION OF RATIOS OF
EARNINGS TO FIXED CHARGES AND EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

Six Months Ended June 30, 2001 and Five Years Ended December 31, 2000

	Six Months
	Ended
		June 30		Year Ended December 31
millions except ratio amounts		2001			2000			1999			1998				1997			1996
Gross Income	$		1,699	$		1,519	$		179	$		(7	)	$		205	$		197
Rentals			7			16			11			12				8			4
Earnings			1,706			1,535			190			5				213			201

Gross Interest Expense			148			193			96			82				62			56
Rentals			7			16			11			13				8			4
Fixed Charges	$		155	$		209	$		107	$		95		$		70	$		60

Preferred Stock
Dividends			6			17			17			11				--			--

Combined Fixed Charges
and Preferred Stock
Dividends	$		161	$		226	$		124	$		106		$		70	$		60

Ratio of Earnings to
Fixed Charges			11.01			7.35			1.77			0.05				3.04			3.34

Ratio of Earnings to
Combined Fixed Charges
and Preferred Stock
Dividends			10.60			6.80			1.53			0.05				3.04			3.34

As a result of the Company's net loss in 1998, Anadarko's earnings did not cover fixed charges by $90 million and did not cover combined fixed charges and preferred stock dividends by $101 million.

These ratios were computed by dividing earnings by either fixed charges or combined fixed charges and preferred stock dividends. For this purpose, earnings include income before income taxes and fixed charges. Fixed charges include interest and amortization of debt expenses and the estimated interest component of rentals. Preferred stock dividends are adjusted to reflect the amount of pretax earnings required for payment.