Exhibit 99.3
Good morning everyone. Moments ago, we announced that our board of directors has approved, and we have entered into a merger agreement with Chevron. Anadarko has enjoyed a long and successful history, and our employees have created an exceptional company that was greatly desired by one of the best energy companies in the world in order to make their company even better.
To be clear, we were not seeking to sell the company. That Chevron decided to approach us reflects our commitment to build an attractive company coveted for its talent, expertise, premier asset base, and deep opportunity set.
Our Executive Committee and board of directors evaluated this offer through numerous discussions and meetings. As a result of this work, several things became abundantly clear.
| • | | First, this is a very compelling offer for our shareholders, representing almost a 40% premium to yesterday’s closing price. |
| • | | Second, Chevron is a highly respected organization with strong leadership, an impeccable safety record, and a culture that values individuals while fostering long-term career development. |
| • | | Third, the combined company’s assets are highly complementary, positioning it to deliver differentiating performance and value for decades to come. |
| • | | Fourth, Chevron expressed interest in not just our assets, but our people as well, as they believe combining with Anadarko will make them a better company in many ways. |
| • | | And fifth, as a publicly traded company, we have a fiduciary responsibility to act in the best interest of our investors, and accepting this offer clearly meets that standard. |
I recognize today’s announcement creates uncertainty and worry for many of you with fundamental questions such as: “Will I have a job?,” “If I have a job, where will it be?,” “If I’m not offered a job, what does that look like?,” and many others.
While we don’t have all of the information today, we are encouraged by what we have seen from Chevron thus far. One thing we believe to be true is their sincere desire to attract many of our employees. To that end, for instance, Chevron has already made clear that it believes The Woodlands campus will be an important part of the company’s future. Furthermore, to help ensure a smooth transition, Chevron Chairman and CEO, Mike Wirth and I have asked Chevron’s EVP, Technology, Projects and Services, Joe Geagea, and Anadarko President Bob Gwin to lead our integration efforts. As we learn more over the next few weeks, I promise that we will share as much as we can with you quickly and transparently, and keep you apprised about what to expect going forward.
On Monday, April 15, 2019, at 10 a.m. Central,we will host anAll-Employee Town Hallto discuss this announcement and provide an opportunity for you to ask questions. The Executive Committee will join me in The Woodlands for this Town Hall, and we will broadcast it to our locations worldwide. Following the Town Hall, we will post a running Q&A on Insider so that we can continue to be responsive to your questions going forward.