Exhibit 99
Anadarko Announces a Senior Management Retirement and Two Promotions
HOUSTON--(BUSINESS WIRE)--May 17, 2005--Anadarko Petroleum
Corporation (NYSE:APC) today announced an executive retirement and two
promotions in its senior management team.
James R. Larson, Senior Vice President, Finance and Chief
Financial Officer, has chosen to retire from Anadarko.
"Jim Larson has been an instrumental part of Anadarko for almost
25 years, in fact since the very early days of this company. Every
individual has the right to choose when they want to retire and Jim is
making that choice now," said Jim Hackett, Anadarko President and CEO.
"He plans to retire by the end of this year, but he has assured us he
will be available to help us find a replacement and make a reasonable
transition. We will truly miss working with Jim and his skills have
been invaluable, especially most recently as he has helped develop and
execute on our refocused strategy."
"I have thought long and hard about this decision and believe that
now is a good time for me to retire from Anadarko," said Jim Larson.
"I have my health and want time to enjoy it, and the company is
healthy as well. I've been fortunate to have been given many exciting
professional opportunities here. I have been a part of Anadarko's
history from the original spin-off from Panhandle Eastern, to the
merger with Union Pacific Resources in 2000 and especially over the
last year as we have executed on our refocused strategy. I believe
I have helped contribute to the overall financial strength of
Anadarko."
Karl F. Kurz, formerly Vice President, Marketing, has been
promoted to Senior Vice President - Marketing and General Manager -
U.S. Onshore. He will take on the additional leadership role of
directing the activities of the company's foundation assets in the
U.S. onshore areas and will continue to have responsibility for
Anadarko's oil and gas marketing and hard minerals business.
"Karl has proven to be an extremely capable and talented leader
over the years as he has led our marketing and minerals operations,"
said Jim Hackett, Anadarko President and CEO. "I am certain he will
add value to our U.S. onshore portfolio, which is an important area of
focus for our company."
Michael O. Bridges, currently General Manager - Canada and
President - Anadarko Canada Corporation (ACC), has been promoted to
Vice President - Canada for Anadarko Petroleum Corporation. He will
continue to serve as President of ACC.
"Canada is a region that continues to hold considerable promise
for Anadarko and Mike's leadership there over the past year has put
the Canada team on track to deliver on its goals and continue to
generate increased shareholder value," Hackett added. "This promotion
names Mike as a corporate officer of APC and emphasizes the importance
of his leadership role and the role Canada will play in our future."
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 2004, the company had
2.37 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.
CONTACT: Anadarko Petroleum Corporation, Houston
Media Contacts:
Teresa Wong, 832-636-1203
teresa_wong@anadarko.com
or
Investor Contacts:
David Larson, 832-636-3265
david_larson@anadarko.com
or
Stewart Lawrence, 832-636-3326
stewart_lawrence@anadarko.com