Exhibit 99
Anadarko Announces Third Quarter 2004 Results
HOUSTON--(BUSINESS WIRE)--October 29, 2004--Anadarko Petroleum Corporation
(NYSE:APC)
-- EARNINGS AND CASH FLOW STRONG
-- DIVESTITURES OF NON-CORE ASSETS EXCEED TARGETS
-- $1.2 BILLION OF DEBT REPURCHASES COMPLETED
-- 9 MILLION COMMON SHARES REPURCHASED
Anadarko Petroleum Corporation (NYSE:APC) today announced third quarter
2004 net income available to common shareholders of $399 million, or $1.58 per
share (diluted). Net income includes costs associated with the implementation of
its refocused strategy, primarily the repurchase of debt and the sale of
non-core properties, which amounted to $74 million, or $0.29 per share
(diluted). For the same period in 2003, net income was $274 million, or $1.09
per share (diluted). Year-to-date 2004 net income is $1.2 billion, or $4.72 per
share (diluted).
Cash flow from operating activities totaled $992 million in the third
quarter 2004, compared to $884 million for the third quarter 2003. Cash flow
from operations before changes in assets and liabilities for the third quarter
2004 totaled $617 million, which includes a reduction of $347 million for
current taxes related to the divestitures. This compares to $868 million for the
third quarter 2003.(1) Year-to-date 2004 cash flow from operating activities
totaled $2.76 billion.
"Anadarko is rapidly executing the strategy we announced in June, divesting
non-core properties and refocusing the company to deliver sustainable,
profitable growth," said Jim Hackett, Anadarko President and CEO. "Using
proceeds from asset sales, along with substantial cash flow from operations
resulting from strong oil and natural gas prices, we are delivering on our
commitment to repurchase both debt and common stock."
Consistent with its strategy announced in June, Anadarko has agreements in
place to sell approximately $2.5 billion of assets and has additional agreements
pending on about $800 million of assets. Together, these divestitures represent
year-end 2003 proved reserves of approximately 285 million barrels of oil
equivalent (BOE) and production of about 120,000 BOE per day. Net income was not
directly affected by the sales, as proceeds were recognized as an adjustment of
capitalized costs under full-cost accounting rules.
In September, the company repurchased $750 million aggregate principal
amount of debt securities, which resulted in $63 million associated with
premiums and other costs recorded to interest expense in the third quarter. The
company's $1.2 billion cash tender offer was completed in early October with the
repurchase of another $455 million of debt securities. The company anticipates
costs associated with this repurchase to be about $40 million, which will be
recorded in the fourth quarter. Total debt at the end of the quarter has been
reduced by about $575 million since the first of the year.
Since initiating a $2 billion stock repurchase program in June, the company
has repurchased 9 million outstanding common shares at a cost of approximately
$550 million to date.
VOLUMES AND PRICES
During the third quarter 2004, sales volumes totaled 49 million BOE, or
534,000 BOE per day, up more than 4 percent from the second quarter due to the
start-up of Anadarko's Marco Polo field in the deepwater Gulf of Mexico,
continued drilling success in East Texas and North Louisiana tight gas plays and
the timing of sales in Algeria. However, sales volumes were down relative to the
prior-year third quarter due primarily to high natural decline rates on
properties that are currently being divested. Third quarter 2004 volumes also
were reduced an estimated 200,000 BOE by hurricane-related shut-downs in the
Gulf of Mexico. Third quarter 2003 sales volumes were 50 million BOE, or 541,000
BOE per day.
The company's average realized oil price in the third quarter 2004 was
$34.42 per barrel, up 31 percent from the 2003 third quarter price of $26.36 per
barrel. Anadarko's average realized natural gas price was $4.93 per thousand
cubic feet (Mcf), up 9 percent from the $4.51 per Mcf received in the same
period in 2003. Realized prices include the effect of hedges, including
approximately $30 million of hedge losses related to properties being sold.
"Strong prices continue to give us the necessary cash flow to execute our
capital programs, strengthen the balance sheet, and return value directly to
shareholders through our regular dividend program and stock repurchases,"
Hackett said. "Our strategic realignment is proceeding ahead of plan, and our
core assets -- our foundation and growth platforms -- are creating value for the
future. For example, our foundation assets in Anadarko's North Louisiana Vernon
field and our Canadian Wild River play in Alberta continue to set record
production levels. We brought the Marco Polo field in the Gulf of Mexico on-line
this quarter. And we've also positioned ourselves well with a new growth
opportunity through our planned LNG terminal in Nova Scotia where we held a
ceremonial ground breaking yesterday and expect to have the facility on-line in
late 2007."
GUIDANCE
The attached guidance for the fourth quarter and full year reflects the
impact of asset sales, with adjustments based on anticipated closing dates. The
adjustments result in lowered sales volume guidance. Absent the divestitures,
estimated volumes would have been toward the higher end of previous guidance.
EARNINGS CONFERENCE CALL TODAY AT 9:30 A.M. CDT, 10:30 A.M. EDT
Anadarko will host an earnings conference call today at 9:30 a.m. Central
Daylight Time (10:30 a.m. Eastern Daylight Time) to discuss third 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 799234. 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
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 Oct. 22, 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 proved 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, and exploration or production positions in several
other countries. 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 and statements indicating why management believes these
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 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 net income available to common
stockholders (GAAP) to net income available to common stockholders
before the effect of implementation costs of the company's refocused
strategy, oil and gas impairments and restructuring costs, net of
taxes, (non-GAAP) as required under Regulation G of the Securities
Exchange Act of 1934. The company uses net income excluding the effect
of implementation costs of the company's refocused strategy, oil and
gas impairments and restructuring costs to evaluate the company's
results for comparability between periods.
Quarter Ended
September 30
--------------------
millions except per share amounts 2004 2003
- ----------------------------------------------------------------------
Net Income
- ----------------------------------------------------------------------
Net income available to common stockholders $399 $274
Add back:
Implementation costs of refocused strategy,
net of taxes 74 -
Impairments related to oil and gas properties,
net of taxes - 72
Restructuring costs, net of taxes - 21
- ----------------------------------------------------------------------
Net income available to common stockholders
excluding implementation costs of refocused
strategy, impairments and restructuring costs $473 $367
- ----------------------------------------------------------------------
Per Common Share
- ----------------------------------------------------------------------
Net income available to common stockholders -
diluted $1.58 $1.09
Net income available to common stockholders
excluding implementation costs of refocused
strategy, impairments and restructuring
costs - diluted $1.87 $1.46
- ----------------------------------------------------------------------
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
September 30
--------------------
millions 2004 2003
- ----------------------------------------------------------------------
Cash Flow
- ----------------------------------------------------------------------
Cash flow from operating activities $992 $884
Add back:
Change in accounts receivable 74 (93)
Change in accounts payable and accrued
expenses (500) 88
Change in other items - net 51 (11)
- ----------------------------------------------------------------------
Cash flow from operations before changes in
assets and liabilities $617 $868
- ----------------------------------------------------------------------
Detail of Implementation Costs of Refocused Strategy
Quarter Ended
September 30, 2004
--------------------
millions Before Tax After Tax
- ----------------------------------------------------------------------
Implementation costs of refocused strategy
- ----------------------------------------------------------------------
Revenues - Hedge losses related to properties
being sold $30 $20
Costs and Expenses - Severance, retention and
other costs 21 13
Interest Expense - Debt repurchase costs 63 41
Income Tax Expenses - Current - 347
Income Tax Expenses - Deferred - (347)
- ----------------------------------------------------------------------
Implementation costs of refocused strategy $114 $74
- ----------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Summary Financial Information September 30 September 30
------------- ---------------
$ and shares in millions 2004 2003 2004 2003
- ----------------------------------------------------------------------
Revenues
- ----------------------------------------------------------------------
Gas sales $823 $762 $2,438 $2,165
Oil and condensate sales 589 458 1,643 1,337
Natural gas liquids sales 123 85 319 255
Other sales 27 35 65 87
- ----------------------------------------------------------------------
Total 1,562 1,340 4,465 3,844
- ----------------------------------------------------------------------
Costs and Expenses
- ----------------------------------------------------------------------
Direct operating 177 158 498 445
Transportation and cost of product 67 49 183 142
Administrative and general 98 108 269 282
Depreciation, depletion and amortization 387 341 1,092 954
Other taxes 86 70 252 216
Impairments related to oil and gas
properties - 74 9 92
- ----------------------------------------------------------------------
Total 815 800 2,303 2,131
- ----------------------------------------------------------------------
Operating Income 747 540 2,162 1,713
- ----------------------------------------------------------------------
Interest Expense and Other (Income)
Expense
- ----------------------------------------------------------------------
Interest expense 131 59 260 187
Other (income) expense 16 2 72 (25)
- ----------------------------------------------------------------------
Total 147 61 332 162
- ----------------------------------------------------------------------
Income before Income Taxes 600 479 1,830 1,551
- ----------------------------------------------------------------------
Income Tax Expense 199 203 630 601
- ----------------------------------------------------------------------
Net Income Before Cumulative Effect of
Change in Accounting Principle $401 $276 $1,200 $950
- ----------------------------------------------------------------------
Preferred Stock Dividends 2 2 4 4
- ----------------------------------------------------------------------
Net Income Available to Common
Stockholders Before Cumulative Effect of
Change in Accounting Principle $399 $274 $1,196 $946
- ----------------------------------------------------------------------
Cumulative Effect of Change in Accounting
Principle - - - 47
- ----------------------------------------------------------------------
Net Income Available to Common
Stockholders $399 $274 $1,196 $993
- ----------------------------------------------------------------------
Per Common Share
- ----------------------------------------------------------------------
Net income - before change in accounting
principle - basic $1.59 $1.09 $4.76 $3.79
Net income - before change in accounting
principle - diluted $1.58 $1.09 $4.72 $3.74
Change in accounting principle - basic $- $- $- $0.19
Change in accounting principle - diluted $- $- $- $0.18
Net income - basic $1.59 $1.09 $4.76 $3.98
Net income - diluted $1.58 $1.09 $4.72 $3.92
- ----------------------------------------------------------------------
Average Number of Common Shares
Outstanding - Basic 250 250 252 249
- ----------------------------------------------------------------------
Average Number of Common Shares
Outstanding - Diluted 253 251 254 254
- ----------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Summary Financial Information September 30 September 30
------------------- ------------------
$ in millions 2004 2003 2004 2003
- ----------------------------------------------------------------------
Cash Flow from Operating
Activities
- ----------------------------------------------------------------------
Net income before cumulative
effect of change in accounting
principle $401 $276 $1,200 $950
Depreciation, depletion and
amortization 387 341 1,092 954
Deferred income taxes (177) 156 71 419
Impairments related to oil and
gas properties - 74 9 92
Other noncash items 6 21 78 21
- ----------------------------------------------------------------------
617 868 2,450 2,436
(Increase) decrease in accounts
receivable (74) 93 (232) 29
Increase (decrease) in accounts
payable and accrued expenses 500 (88) 658 (92)
Other items - net (51) 11 (119) (74)
- ----------------------------------------------------------------------
Net Cash Provided by Operating
Activities $992 $884 $2,757 $2,299
- ----------------------------------------------------------------------
- ----------------------------------------------------------------------
Capital Expenditures
- ----------------------------------------------------------------------
Capital spending $710 $566 $2,060 $1,929
Capitalized interest 20 30 67 94
Capitalized overhead 41 45 127 142
- ----------------------------------------------------------------------
Total $771 $641 $2,254 $2,165
- ----------------------------------------------------------------------
Sept. 30, June 30, Dec. 31,
2004 2004 2003
- ----------------------------------------------------------------------
Condensed Balance Sheet
- ----------------------------------------------------------------------
Cash and cash equivalents $154 $309 $62
Other current assets 1,516 1,407 1,262
Net properties and equipment 18,034 18,066 17,396
Other assets 440 443 437
Goodwill 1,395 1,378 1,389
- ----------------------------------------------------------------------
Total Assets $21,539 $21,603 $20,546
- ----------------------------------------------------------------------
Current liabilities $2,794 $2,044 $1,715
Long-term debt 4,120 4,895 5,058
Other long-term liabilities 5,180 5,513 5,174
Stockholders' equity 9,445 9,151 8,599
- ----------------------------------------------------------------------
Total Liabilities and
Stockholders' Equity $21,539 $21,603 $20,546
- ----------------------------------------------------------------------
Capitalization
- ----------------------------------------------------------------------
Total debt $4,484 $5,063 $5,058
Stockholders' equity 9,445 9,151 8,599
- ----------------------------------------------------------------------
Total $13,929 $14,214 $13,657
- ----------------------------------------------------------------------
Capitalization Ratios
- ----------------------------------------------------------------------
Total debt 32% 36% 37%
Stockholders' equity 68% 64% 63%
- ----------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended Year to Date
Volumes and Prices September 30 September 30
--------------- ---------------
2004 2003 2004 2003
- ---------------------------------------------------------------------
Natural Gas
- ---------------------------------------------------------------------
United States
- ---------------------------------------------------------------------
Volumes, billion cubic feet 132 136 378 378
Average daily volumes, million cubic
feet per day 1,428 1,481 1,382 1,383
Price per thousand cubic feet $4.96 $4.48 $5.01 $4.41
- ---------------------------------------------------------------------
Canada
- ---------------------------------------------------------------------
Volumes, billion cubic feet 35 33 108 103
Average daily volumes, million cubic
feet per day 385 357 392 379
Price per thousand cubic feet $4.81 $4.65 $5.03 $4.83
- ---------------------------------------------------------------------
Total
- ---------------------------------------------------------------------
Volumes, billion cubic feet 167 169 486 481
Average daily volumes, million cubic
feet per day 1,813 1,838 1,774 1,762
Price per thousand cubic feet $4.93 $4.51 $5.01 $4.50
- ---------------------------------------------------------------------
Crude Oil and Condensate
- ---------------------------------------------------------------------
United States
- ---------------------------------------------------------------------
Volumes, million barrels 8 8 24 26
Average daily volumes, thousand
barrels per day 92 97 88 96
Price per barrel $31.83 $26.34 $30.94 $26.45
- ---------------------------------------------------------------------
Canada
- ---------------------------------------------------------------------
Volumes, million barrels 1 2 4 5
Average daily volumes, thousand
barrels per day 14 17 14 17
Price per barrel $38.86 $26.43 $35.63 $27.56
- ---------------------------------------------------------------------
Algeria
- ---------------------------------------------------------------------
Volumes, million barrels 6 5 18 14
Average daily volumes, thousand
barrels per day 63 51 64 52
Price per barrel $38.37 $27.66 $34.21 $28.06
- ---------------------------------------------------------------------
Other International
- ---------------------------------------------------------------------
Volumes, million barrels 2 2 6 5
Average daily volumes, thousand
barrels per day 17 24 21 19
Price per barrel $30.20 $23.68 $27.06 $22.94
- ---------------------------------------------------------------------
Total
- ---------------------------------------------------------------------
Volumes, million barrels 17 17 52 50
Average daily volumes, thousand
barrels per day 186 189 187 184
Price per barrel $34.42 $26.36 $31.98 $26.64
- ---------------------------------------------------------------------
Natural Gas Liquids
- ---------------------------------------------------------------------
Total
- ---------------------------------------------------------------------
Volumes, million barrels 4 4 12 12
Average daily volumes, thousand
barrels per day 46 46 45 44
Price per barrel $29.16 $20.36 $25.90 $21.10
- ---------------------------------------------------------------------
Total Barrels of Oil Equivalent (BOE)
- ---------------------------------------------------------------------
Volumes, million BOE 49 50 145 142
Average daily volumes, thousand BOE
per day 534 541 528 522
- ---------------------------------------------------------------------
Anadarko Petroleum Corporation
Crude Oil Hedge Position for 2004 & 2005
As of October 22, 2004
Fixed and Physical Contracts 2- Way Collars
Volume NYMEX Price Volume Floor Ceiling
Crude Oil Bbl/day $/Bbl Bbl/day $/Bbl $/Bbl
United States
---------------------------- --------------------------
4th Qtr 2004 26,000 $27.22 3,260 $22.00 $26.32
============================ ==========================
Total Year
2005 - $- 1,986 $22.00 $26.32
============================ ==========================
Algeria
---------------------------- --------------------------
4th Qtr 2004 - $- - $- $-
============================ ==========================
---------------------------- --------------------------
Total Year
2005 - $- - $- $-
============================ ==========================
Total Crude Oil,
All Locations
-------------------------------------------------------
4th Qtr 2004 26,000 $27.22 3,260 $22.00 $26.32
============================ ==========================
Total Year
2005 - $- 1,986 $22.00 $26.32
============================ ==========================
3- Way Collars
Purchased
Volume Sold Floor Floor Ceiling
Bbl/day $/Bbl $/Bbl $/Bbl
United States
------------------------------------------------------
4th Qtr 2004 18,000 $22.50 $27.50 $32.14
======================================================
Total Year 2005 43,000 $27.28 $32.28 $46.89
======================================================
Algeria
------------------------------------------------------
4th Qtr 2004 20,000 $18.00 $22.00 $28.07
======================================================
Total Year 2005 - $- $- $-
======================================================
Total Crude Oil,
All Locations
------------------------------------------------------
4th Qtr 2004 38,000 $20.13 $24.61 $30.00
======================================================
Total Year 2005 43,000 $27.28 $32.28 $46.89
======================================================
Anadarko Petroleum Corporation
Natural Gas Hedge Position for 2004 & 2005
As of October 22, 2004
Fixed and Physical
Contracts 2- Way Collars
Volume NYMEX Price Volume Floor Ceiling
Natural Gas MMMBtu/d $/MMBtu MMMBtu/d $/MMBtu $/MMBtu
United States
----------------------- -------------------------
4th Qtr 2004 200.0 $3.88 44.3 $4.29 $6.43
======================= =========================
Total Year 2005 - $- 26.3 $3.76 $5.65
======================= =========================
Canada
----------------------- -------------------------
4th Qtr 2004 45.2 $3.63 - $- $-
======================= =========================
Total Year 2005 32.6 $3.46 - $- $-
======================= =========================
Total Natural Gas,
All Locations
----------------------- -------------------------
4th Qtr 2004 245.2 $3.83 44.3 $4.29 $6.43
======================= =========================
Total Year 2005 32.6 $3.46 26.3 $3.76 $5.65
======================= =========================
3- Way Collars
Purchased
Volume Sold Floor Floor Ceiling
MMMBtu/d $/MMBtu $/MMBtu $/MMBtu
United States
-----------------------------------------
4th Qtr 2004 268.8 $2.67 $3.65 $5.30
=========================================
Total Year 2005 268.8 $4.01 $5.00 $9.37
=========================================
Canada
-----------------------------------------
4th Qtr 2004 - $- $- $-
=========================================
Total Year 2005 - $- $- $-
=========================================
Total Natural Gas,
All Locations
-----------------------------------------
4th Qtr 2004 268.8 $2.67 $3.65 $5.30
=========================================
Total Year 2005 268.8 $4.01 $5.00 $9.37
=========================================
Anadarko Petroleum Corporation
As of October 29, 2004
4th Qtr Total Year
Financial and Operating Guidance Forecast Forecast
------------------ ------------------
Units Units
------------------ ------------------
Total Sales (MM BOE) 45 - 47 189 - 192
Crude Oil (MBbl/d): 169 - 185 183 - 187
United States 88 - 90 87 - 88
Canada 10 - 12 13 - 14
Algeria 50 - 60 61 - 63
Other International 21 - 25 21 - 23
Natural Gas (MMcf/d): 1,655 - 1,685 1,745 - 1,754
United States 1,255 - 1,295 1,350 - 1,360
Canada 390 - 410 392 - 397
Natural Gas Liquids (MBbl/d): 36 - 41 43 - 44
United States 34 - 38 40 - 42
Canada 2 - 3 2 - 3
- ----------------------------------------------------------------------
$/ Unit $/ Unit
------------------ ------------------
Price Differentials vs NYMEX
(w/o hedges)
Crude Oil ($/Bbl): (4.00) - (4.75) (3.40) - (3.55)
United States (3.00) - (3.25) (2.35) - (2.40)
Canada (4.50) - (5.00) (3.60) - (3.60)
Algeria (3.50) - (3.75) (2.25) - (2.30)
Other International (12.00) - (12.50) (11.50) - (11.65)
Natural Gas ($/Mcf): (0.65) - (0.75) (0.48) - (0.52)
United States (0.55) - (0.65) (0.40) - (0.45)
Canada (0.90) - (1.00) (0.70) - (0.75)
- ----------------------------------------------------------------------
$MM $MM
------------------ ------------------
Other Revenues:
Marketing 12 - 15 50 - 53
Minerals and Other 10 - 12 38 - 40
- ----------------------------------------------------------------------
Costs and Expenses:
$ / Boe $ / Boe
------------------ ------------------
Direct Operating Costs 3.25 - 3.45 3.40 - 3.45
Transportation and Cost of
Product 1.20 - 1.35 1.25 - 1.30
Depreciation, Depletion and
Amortization 7.50 - 7.75 7.50 - 7.60
Production Taxes (% of Revenue) 5.5% - 6.0% 5.7% - 5.8%
$MM $MM
------------------ ------------------
Administrative and General 85 - 95 355 - 365
Impairments of Oil and Gas
Assets - - 20 10 - 30
Interest Expense 80 - 90 340 - 350
Other (Income) Expense (5) - 15 67 - 87
Federal Tax Rate 36% - 40% 35% - 37%
Deferred Taxes (% of Total
Taxes) -5% - 0% 5% - 10%
- ----------------------------------------------------------------------
Avg. Shares Outstanding (MM)
Basic 243 - 245 249 - 251
Diluted 245 - 247 251 - 253
$MM $MM
------------------ ------------------
Capital Investment 725 - 775 2,980 - 3,030
E&P (Cost Incurred) 663 - 705 2,725 - 2,767
Capitalized Direct Expenses 46 - 50 172 - 176
Capitalized Interest 16 - 20 83 - 87
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