EXHIBIT 99
Anadarko Announces Second Quarter 2004 Earnings
HOUSTON--(BUSINESS WIRE)--July 30, 2004--Anadarko Petroleum
Corporation (NYSE:APC)
-- QUARTERLY EARNINGS UP 35% OVER SECOND QUARTER '03
-- COMPANY SHOWS PROGRESS ON NEW STRATEGY WITH REPURCHASE OF 2.6
MILLION SHARES
Anadarko Petroleum Corporation (NYSE:APC) today announced second
quarter 2004 net income available to common shareholders of $405
million, or $1.59 per share (diluted), on revenues of $1.44 billion.
For the same period in 2003, net income was $301 million, or $1.20 per
share (diluted), on revenues of $1.25 billion. Net income available to
common shareholders year to date is $797 million.
Cash flow from operating activities totaled $880 million in the
second quarter 2004, compared to $710 million for the second quarter
2003. Cash flow from operations before changes in assets and
liabilities for the second quarter 2004 totaled $889 million, compared
to $774 million for the second quarter 2003.(1) Year-to-date cash flow
from operating activities totaled $1.77 billion.
"Anadarko produced good second quarter results that were helped by
strong commodity prices. In fact, our earnings are up 35 percent over
second quarter '03. In addition, our production levels for the quarter
met our expectations," said Jim Hackett, Anadarko President and CEO.
"Last month, we announced a refocused corporate strategy to
improve profitability, increase our competitiveness and generate more
attractive returns for our shareholders. We are already making
progress on that strategy by utilizing approximately $150 million of
the proceeds from the sale of some of our hard mineral royalty revenue
streams to initiate our share repurchase plan. Since we announced the
strategy, Anadarko has repurchased 2.6 million outstanding common
shares, and since year-end, cash has increased by nearly $250 million,
furthering our commitment to strengthen the balance sheet," Hackett
added.
During the second quarter of 2004, sales volumes totaled 47
million barrels of oil equivalent (BOE), or 512,000 BOE per day, down
slightly from 2003 second quarter sales volumes of 48 million BOE or
527,000 BOE per day.
Oil sales volumes in the second quarter were 173,000 barrels per
day (b/d), compared to 190,000 b/d in the same quarter of 2003. The
decrease in volumes is attributed to declines in South Louisiana and
the Gulf of Mexico shelf, plus the timing of cargo liftings in
Algeria. The company's average realized oil prices were $31.71 per
barrel, up significantly over 2003 second quarter prices of $25.11 per
barrel.
North American natural gas sales volumes of 1,786 million cubic
feet per day (MMcf/d) rose slightly over second quarter 2003 volumes
of 1,741 MMcf/d. The increase can be attributed primarily to
Anadarko's successful drilling program in the North Louisiana Vernon
field and in West Texas. Anadarko's average realized natural gas price
in the second quarter of 2004 was $5.19 per thousand cubic feet (Mcf),
compared with $4.40 per Mcf for the same period in 2003.
RECENT HIGHLIGHTS
-- Anadarko significantly expanded its Gulf of Mexico deepwater
K2 North discovery when its No. 2 well encountered 165 feet of
net oil pay. The field is expected to begin production through
the Marco Polo platform in 2005. Anadarko holds a 100 percent
working interest in the field, which is located on Green
Canyon Block 518.
-- On July 19, Anadarko announced it had commenced production
from three wells at its Marco Polo field located on Green
Canyon Block 608 in the Gulf of Mexico. Anadarko has a 100
percent working interest and expects the field to reach peak
daily production of 50,000 BOE once all six wells are on line
by early 2005.
-- In June, the company unveiled a refocused corporate strategy
to improve profitability by emphasizing exploration for new
North American and international resources and focusing on
unconventional oil and natural gas resource potential,
particularly in North America. The strategy also lays out a
more disciplined international new ventures program. This
operational plan includes a financial strategy to fund capital
expenditures within mid-cycle cash flows. Excess cash flow
from higher priced commodity environments will be returned to
shareholders through net debt reduction and share buy-backs,
or compete for other strategic opportunities. One of the
initial steps in the strategy includes a planned divestment or
monetization of properties that do not fit with our future
business model. The divestitures should generate estimated
after-tax proceeds of at least $2.5 billion and are expected
to occur primarily in the next six months. These proceeds will
be targeted to reducing net debt and buying back shares.
GUIDANCE
The company expects to increase its capital spending to a range of
between $2.8 billion to $3 billion, primarily to accelerate
development of its K2 North field in the Gulf of Mexico. As a result
of the effect of commodity price increases on Venezuela and Gulf of
Mexico volumes, the company has narrowed its 2004 production growth
guidance. The attached guidance reflects full-year results and
excludes the future impact of any divestitures or monetizations.
EARNINGS CONFERENCE CALL TODAY AT 9:00 A.M. CDT, 10:00 A.M. EDT
Anadarko will host an earnings conference call today at 9:00 a.m.
Central Daylight Time (10:00 a.m. Eastern Daylight Time) to discuss
second quarter 2004 results and the company's outlook for the
remainder of the year. The dial-in number is 913-981-4910, and the
confirmation number is 162364. 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 second quarter drilling activity. The report
will be available today at www.anadarko.com on the Investor Relations
page.
FINANCIAL DATA
Several pages of information on the following topics are attached.
-- Reconciliation of GAAP to Non-GAAP Measures
-- Summary financial information
-- Volumes and prices
-- Hedge position as of July 23, 2004
-- Financial and operating guidance
Anadarko Petroleum Corporation's mission is to deliver a
competitive and sustainable rate of return to shareholders by
developing, acquiring and exploring for oil and gas resources vital to
the world's health and welfare. As of year-end 2003, the company had
2.5 billion BOE of reserves, making it one of the world's largest
independent exploration and production companies. Anadarko's
operational focus extends from the deepwater Gulf of Mexico, up
through Texas, Louisiana, the Mid-Continent, western U.S. and Canadian
Rockies and onto the North Slope of Alaska. Anadarko also has
significant production in Algeria, Venezuela and Qatar. For more
information about how Anadarko is bringing excellence to the surface,
please visit: www.anadarko.com.
(1) See accompanying tables for a reconciliation of GAAP to
non-GAAP financial measures utilized in calculating cash flow from
operations before changes in assets and liabilities and a statement
indicating why management believes the non-GAAP measure of cash flow
is 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 and Exchange Act of 1934. Anadarko believes that its
expectations are based on reasonable assumptions. No assurance,
however, can be given that its goals will be achieved. A number of
factors could cause actual results to differ materially from the
projections, anticipated results or other expectations expressed in
this release. While Anadarko makes these forward-looking statements in
good faith, neither Anadarko nor its management can guarantee that the
anticipated future results will be achieved. See Regulatory Matters
and Additional Factors Affecting Business in the Management's
Discussion and Analysis included in the company's 2003 Annual Report
on Form 10-K.
Anadarko Petroleum Corporation
Reconciliation of GAAP to Non-GAAP Measures
Below is a reconciliation of cash provided by operating activities
(GAAP) to cash flow from operations before changes in assets and
liabilities (non-GAAP) as required under Regulation G of the
Securities Exchange Act of 1934. The company uses cash flow from
operations before changes in assets and liabilities 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
June 30
--------------------
millions 2004 2003
- ----------------------------------------------------------------------
Cash Flow
- ----------------------------------------------------------------------
Net cash provided by operating activities $880 $710
Add back:
Change in accounts receivable 119 (202)
Change in accounts payable and accrued expenses (138) 277
Change in other items - net 28 (11)
- ----------------------------------------------------------------------
Cash flow from operations before changes in assets
and liabilities $889 $774
- ----------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Summary Financial Information June 30 June 30
-----------------------------
$ and shares in millions 2004 2003 2004 2003
- ----------------------------------------------------------------------
Revenues
- ----------------------------------------------------------------------
Gas sales $843 $697 $1,615 $1,403
Oil and condensate sales 503 434 1,054 879
Natural gas liquids sales 93 85 196 170
Other sales 4 33 38 52
- ----------------------------------------------------------------------
Total 1,443 1,249 2,903 2,504
- ----------------------------------------------------------------------
Costs and Expenses
- ----------------------------------------------------------------------
Direct operating 163 151 321 287
Transportation and cost of product 59 53 116 93
Administrative and general 92 86 171 174
Depreciation, depletion and amortization 357 323 705 613
Other taxes 85 71 166 146
Impairments related to oil and gas
properties - 13 9 18
- ----------------------------------------------------------------------
Total 756 697 1,488 1,331
- ----------------------------------------------------------------------
Operating Income 687 552 1,415 1,173
- ----------------------------------------------------------------------
Interest Expense and Other (Income)
Expense
- ----------------------------------------------------------------------
Interest expense 66 68 129 128
Other (income) expense (4) 12 56 (27)
- ----------------------------------------------------------------------
Total 62 80 185 101
- ----------------------------------------------------------------------
Income before Income Taxes 625 472 1,230 1,072
- ----------------------------------------------------------------------
Income Tax Expense 219 170 431 398
- ----------------------------------------------------------------------
Net Income Before Cumulative Effect of
Change in Accounting Principle $406 $302 $799 $674
- ----------------------------------------------------------------------
Preferred Stock Dividends 1 1 2 2
- ----------------------------------------------------------------------
Net Income Available to Common
Stockholders Before Cumulative Effect
of Change in Accounting Principle $405 $301 $797 $672
- ----------------------------------------------------------------------
Cumulative Effect of Change in Accounting
Principle - - - 47
- ----------------------------------------------------------------------
Net Income Available to Common
Stockholders $405 $301 $797 $719
- ----------------------------------------------------------------------
Per Common Share
- ----------------------------------------------------------------------
Net income - before change in
accounting principle - basic $1.60 $1.21 $3.16 $2.70
Net income - before change in
accounting principle - diluted $1.59 $1.20 $3.14 $2.65
Change in accounting principle - basic $- $- $- $0.19
Change in accounting principle - diluted $- $- $- $0.18
Net income - basic $1.60 $1.21 $3.16 $2.89
Net income - diluted $1.59 $1.20 $3.14 $2.83
- ----------------------------------------------------------------------
Average Number of Common Shares
Outstanding - Basic 252 250 252 249
- ----------------------------------------------------------------------
Average Number of Common Shares
Outstanding - Diluted 254 252 254 255
- ----------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Summary Financial Information June 30 June 30
---------------------------------------
$ in millions 2004 2003 2004 2003
- ---------------------------------------------------------------------
Cash Flow from Operating
Activities
- ---------------------------------------------------------------------
Net income before cumulative
effect of change in
accounting principle $406 $302 $799 $674
Depreciation, depletion and
amortization 357 323 705 613
Deferred income taxes 123 109 248 263
Impairments related to oil and
gas properties - 13 9 18
Other noncash items 3 27 72 -
- ---------------------------------------------------------------------
889 774 1,833 1,568
(Increase) decrease in
accounts receivable (119) 202 (158) (64)
Increase (decrease) in
accounts payable and accrued
expenses 138 (277) 158 (4)
Other items - net (28) 11 (68) (85)
- ---------------------------------------------------------------------
Net Cash Provided by Operating
Activities $880 $710 $1,765 $1,415
- ---------------------------------------------------------------------
- ---------------------------------------------------------------------
Capital Expenditures
- ---------------------------------------------------------------------
Capital spending $684 $826 $1,350 $1,363
Capitalized interest 22 30 47 64
Capitalized overhead 45 45 86 97
- ---------------------------------------------------------------------
Total $751 $901 $1,483 $1,524
- ---------------------------------------------------------------------
June 30, Dec. 31,
2004 2003
- ---------------------------------------------------------------------
Condensed Balance Sheet
- ---------------------------------------------------------------------
Cash and cash equivalents $309 $62
Other current assets 1,407 1,262
Net properties and equipment 18,066 17,396
Other assets 443 437
Goodwill 1,378 1,389
- ---------------------------------------------------------------------
Total Assets $21,603 $20,546
- ---------------------------------------------------------------------
Current liabilities $2,044 $1,715
Long-term debt 4,895 5,058
Other long-term liabilities 5,513 5,174
Stockholders' equity 9,151 8,599
- ---------------------------------------------------------------------
Total Liabilities and
Stockholders' Equity $21,603 $20,546
- ---------------------------------------------------------------------
Capitalization
- ---------------------------------------------------------------------
Total debt $5,063 $5,058
Stockholders' equity 9,151 8,599
- ---------------------------------------------------------------------
Total $14,214 $13,657
- ---------------------------------------------------------------------
Capitalization Ratios
- ---------------------------------------------------------------------
Total debt 36% 37%
Stockholders' equity 64% 63%
- ---------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Volumes and Prices June 30 June 30
-------------------------------
2004 2003 2004 2003
- ---------------------------------------------------------------------
Natural Gas
- ---------------------------------------------------------------------
United States
- ---------------------------------------------------------------------
Volumes, billion cubic feet 126 122 247 241
Average daily volumes, million cubic
feet per day 1,388 1,350 1,358 1,333
Price per thousand cubic feet $5.19 $4.28 $5.03 $4.37
- ---------------------------------------------------------------------
Canada
- ---------------------------------------------------------------------
Volumes, billion cubic feet 36 36 72 71
Average daily volumes, million cubic
feet per day 398 391 396 390
Price per thousand cubic feet $5.16 $4.80 $5.14 $4.91
- ---------------------------------------------------------------------
Total
- ---------------------------------------------------------------------
Volumes, billion cubic feet 162 158 319 312
Average daily volumes, million cubic
feet per day 1,786 1,741 1,754 1,723
Price per thousand cubic feet $5.19 $4.40 $5.06 $4.50
- ---------------------------------------------------------------------
Crude Oil and Condensate
- ---------------------------------------------------------------------
United States
- ---------------------------------------------------------------------
Volumes, million barrels 8 8 16 17
Average daily volumes, thousand
barrels per day 84 97 86 94
Price per barrel $31.04 $25.44 $30.45 $26.50
- ---------------------------------------------------------------------
Canada
- ---------------------------------------------------------------------
Volumes, million barrels 1 2 3 3
Average daily volumes, thousand
barrels per day 13 17 14 17
Price per barrel $36.12 $27.15 $33.99 $28.12
- ---------------------------------------------------------------------
Algeria
- ---------------------------------------------------------------------
Volumes, million barrels 5 5 12 10
Average daily volumes, thousand
barrels per day 52 58 65 53
Price per barrel $33.46 $25.36 $32.20 $28.25
- ---------------------------------------------------------------------
Other International
- ---------------------------------------------------------------------
Volumes, million barrels 2 2 4 3
Average daily volumes, thousand
barrels per day 24 18 23 17
Price per barrel $27.88 $20.55 $25.87 $22.41
- ---------------------------------------------------------------------
Total
- ---------------------------------------------------------------------
Volumes, million barrels 16 17 35 33
Average daily volumes, thousand
barrels per day 173 190 188 181
Price per barrel $31.71 $25.11 $30.76 $26.78
- ---------------------------------------------------------------------
Natural Gas Liquids
- ---------------------------------------------------------------------
Total
- ---------------------------------------------------------------------
Volumes, million barrels 4 4 8 8
Average daily volumes, thousand
barrels per day 41 47 45 44
Price per barrel $25.18 $20.09 $24.22 $21.49
- ---------------------------------------------------------------------
Total Barrels of Oil Equivalent (BOE)
- ---------------------------------------------------------------------
Volumes, million BOE 47 48 96 93
Average daily volumes, thousand BOE
per day 512 527 525 512
- ---------------------------------------------------------------------
Anadarko Petroleum Corporation
Natural Gas Hedge Position for 2004 & 2005
As of July 23, 2004
Fixed and Physical 2- Way Collars
Contracts
NYMEX
Volume Price Volume Floor Ceiling
MMMBtu/d $/MMBtu MMMBtu/d $/MMBtu $/MMBtu
United States
3rd Qtr 2004 200.0 $3.88 44.3 $4.29 $6.43
4th Qtr 2004 200.0 $3.88 44.3 $4.29 $6.43
-----------------------------------------------
Remainder of Year 2004 200.0 $3.88 44.3 $4.29 $6.43
-----------------------------------------------
-----------------------------------------------
Total Year 2005 - $- 26.3 $3.76 $5.65
-----------------------------------------------
Canada
3rd Qtr 2004 63.5 $3.83 - $- $-
4th Qtr 2004 45.2 $3.63 - $- $-
-----------------------------------------------
Remainder of Year 2004 54.3 $3.75 - $- $-
-----------------------------------------------
-----------------------------------------------
Total Year 2005 32.6 $3.46 - $- $-
-----------------------------------------------
Total Natural Gas, All
Locations
3rd Qtr 2004 263.5 $3.87 44.3 $4.29 $6.43
4th Qtr 2004 245.2 $3.83 44.3 $4.29 $6.43
-----------------------------------------------
Remainder of Year 2004 254.3 $3.85 44.3 $4.29 $6.43
-----------------------------------------------
-----------------------------------------------
Total Year 2005 32.6 $3.46 26.3 $3.76 $5.65
-----------------------------------------------
3- Way Collars
Sold Purchased
Volume Floor Floor Ceiling
MMMBtu/d $/MMBtu $/MMBtu $/MMBtu
United States
3rd Qtr 2004 268.8 $2.67 $3.65 $5.30
4th Qtr 2004 268.8 $2.67 $3.65 $5.30
----------------- ------------------
Remainder of Year 2004 268.8 $2.67 $3.65 $5.30
----------------- ------------------
----------------- ------------------
Total Year 2005 178.8 $3.83 $4.80 $8.94
----------------- ------------------
Canada
3rd Qtr 2004 - $- $- $-
4th Qtr 2004 - $- $- $-
----------------- ------------------
Remainder of Year 2004 - $- $- $-
----------------- ------------------
----------------- ------------------
Total Year 2005 - $- $- $-
----------------- ------------------
Total Natural Gas, All
Locations
3rd Qtr 2004 268.8 $2.67 $3.65 $5.30
4th Qtr 2004 268.8 $2.67 $3.65 $5.30
----------------- ------------------
Remainder of Year 2004 268.8 $2.67 $3.65 $5.30
----------------- ------------------
----------------- ------------------
Total Year 2005 178.8 $3.83 $4.80 $8.94
----------------- ------------------
Anadarko Petroleum Corporation
Crude Oil Hedge Position for 2004 & 2005
As of July 23, 2004
Fixed and Physical
Contracts 2- Way Collars
NYMEX
Volume Price Volume Floor Ceiling
Bbl/day $/Bbl Bbl/day $/Bbl $/Bbl
United States
3rd Qtr 2004 26,000 $27.22 3,260 $22.00 $26.32
4th Qtr 2004 26,000 $27.22 3,260 $22.00 $26.32
--------------------------------------------
Remainder of Year 2004 26,000 $27.22 3,260 $22.00 $26.32
--------------------------------------------
--------------------------------------------
Total Year 2005 - $- 1,986 $22.00 $26.32
--------------------------------------------
Algeria
3rd Qtr 2004 - $- - $- $-
4th Qtr 2004 - $- - $- $-
--------------------------------------------
Remainder of Year 2004 - $- - $- $-
--------------------------------------------
Total Crude Oil, All
Locations
3rd Qtr 2004 26,000 $27.22 3,260 $22.00 $26.32
4th Qtr 2004 26,000 $27.22 3,260 $22.00 $26.32
--------------------------------------------
Remainder of Year 2004 26,000 $27.22 3,260 $22.00 $26.32
--------------------------------------------
--------------------------------------------
Total Year 2005 - $- 1,986 $22.00 $26.32
3- Way Collars
Sold Purchased
Volume Floor Floor Ceiling
Bbl/day $/Bbl $/Bbl $/Bbl
3rd Qtr 2004 18,000 $22.50 $27.50 $32.14
4th Qtr 2004 18,000 $22.50 $27.50 $32.14
---------------- --------- -------
Remainder of Year 2004 18,000 $22.50 $27.50 $32.14
---------------- --------- -------
---------------- --------- -------
Total Year 2005 40,000 $27.08 $32.08 $45.79
---------------- --------- -------
Algeria
3rd Qtr 2004 20,000 $18.00 $22.00 $28.07
4th Qtr 2004 20,000 $18.00 $22.00 $28.07
---------------- --------- -------
Remainder of Year 2004 20,000 $18.00 $22.00 $28.07
---------------- --------- -------
Total Crude Oil, All
Locations
3rd Qtr 2004 38,000 $20.13 $24.61 $30.00
4th Qtr 2004 38,000 $20.13 $24.61 $30.00
---------------- --------- -------
Remainder of Year 2004 38,000 $20.13 $24.61 $30.00
---------------- --------- -------
---------------- --------- -------
Total Year 2005 40,000 $27.08 $32.08 $45.79
Anadarko Petroleum Corporation
Financial and Operating Guidance
As of July 30, 2004
3rd Qtr Total Year
Forecast Forecast
----------------- -----------------
Units Units
----------------- -----------------
Total Sales (MM BOE) 48 - 50 193 - 197
Crude Oil (MBbl/d): 180 - 190 185 - 195
United States 88 - 94 90 - 95
Canada 13 - 15 13 - 15
Algeria 55 - 65 56 - 65
Other International 18 - 22 22 - 24
Natural Gas (MMcf/d): 1,825 - 1,860 1,780 - 1,820
United States 1,440 - 1,475 1,380 - 1,420
Canada 375 - 395 390 - 410
Natural Gas Liquids (MBbl/d): 39 - 43 41 - 45
United States 36 - 40 38 - 43
Canada 2 - 3 2 - 3
- ----------------------------------------------------------------------
$/ Unit $/ Unit
---------------- -----------------
Price Differentials vs NYMEX
(w/o hedges)
Crude Oil ($/Bbl): (3.25) - (3.75) (3.25) - (3.75)
United States (2.25) - (2.75) (2.25) - (2.75)
Canada (3.75) - (4.25) (3.25) - (3.75)
Algeria (1.75) - (2.25) (2.20) - (2.50)
Other International (11.00) - (12.00) (10.75) - (11.25)
Natural Gas ($/Mcf): (0.45) - (0.65) (0.40) - (0.60)
United States (0.35) - (0.55) (0.35) - (0.55)
Canada (0.80) - (1.00) (0.60) - (0.80)
- ----------------------------------------------------------------------
$MM $MM
----------------- ----------------
Other Revenues:
Marketing 11 - 15 52 - 58
Minerals and Other 10 - 12 30 - 36
- ----------------------------------------------------------------------
Costs and Expenses:
$ / Boe $ / Boe
----------------- -----------------
Direct Operating Costs 3.40 - 3.60 3.30 - 3.55
Transportation and Cost of
Product 1.10 - 1.20 1.10 - 1.25
Depreciation, Depletion and
Amortization 7.65 - 7.95 7.50 - 7.70
Production Taxes (% of
Revenue) 5.5% - 6.0% 5.5% - 6.0%
$MM $MM
----------------- -----------------
Administrative and General 80 - 85 320 - 350
Impairments of Oil and Gas
Assets - - 20 15 - 35
Interest Expense 68 - 72 260 - 280
Other (Income) Expense (5) - 15 50 - 80
Federal Tax Rate 35% - 37% 35% - 37%
Deferred Taxes (% of Total
Taxes) 65% - 69% 60% - 65%
- ----------------------------------------------------------------------
Avg. Shares Outstanding (MM)
Basic 250 - 251 251 - 252
Diluted 252 - 253 253 - 254
$MM $MM
----------------- ------------------
Capital Investment 700 - 750 2,800 - 3,000
E&P (Cost Incurred) 638 - 680 2,530 - 2,700
Capitalized Direct Expenses 46 - 50 175 - 185
Capitalized Interest 16 - 20 75 - 85
Other - - 20 30
CONTACT: Anadarko Petroleum Corporation, Houston
Media Contacts:
Teresa Wong, 832-636-1203
teresa_wong@anadarko.com
or
Lee Warren, 832-636-3321
lee_warren@anadarko.com
or
Margaret Cooper, 832-636-8355
margaret_cooper@anadarko.com
or
Investor Contacts:
David Larson, 832-636-3265
david_larson@anadarko.com
or
Stewart Lawrence, 832-636-3326
stewart_lawrence@anadarko.com