Anadarko Petroleum 10-Q 2001 Q3 Quarterly report

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

Nine Months Ended September 30, 2001 and Five Years Ended December 31, 2000

	Nine Months
	Ended
		September 30			Year Ended December 31
millions except ratio amounts			2001			2000			1999			1998				1997			1996
Gross Income	$			1,221	$		1,519	$		179	$		(7	)	$		205	$		197
Rentals				10			16			11			12				8			4
Earnings				1,231			1,535			190			5				213			201
Gross Interest Expense				221			193			96			82				62			56
Rentals				10			16			11			13				8			4
Fixed Charges	$			231	$		209	$		107	$		95		$		70	$		60
Preferred Stock
Dividends				9			17			17			11				--			--
Combined Fixed Charges
and Preferred Stock
Dividends	$			240	$		226	$		124	$		106		$		70	$		60
Ratio of Earnings to
Fixed Charges				5.33			7.35			1.77			0.05				3.04			3.34
Ratio of Earnings to
Combined Fixed Charges
and Preferred Stock
Dividends				5.13			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.