EXHIBIT 99
Anadarko Announces First-Quarter 2007 Earnings
HOUSTON--(BUSINESS WIRE)--April 30, 2007--Anadarko Petroleum Corporation
(NYSE:APC) today announced first-quarter 2007 net income available to common
shareholders totaled $104 million, or $.23 per share (diluted), on revenues of
$2.68 billion. Income from continuing operations totaled $78 million, or $.17
per share (diluted). These results include unrealized losses on derivatives of
$316 million after tax, or $.68 per share (diluted); a $189 million charge, or
$.41 per share (diluted) associated with Algeria's exceptional profits tax; a
restructuring charge of $25 million after tax, or $.05 per share (diluted); and
legal accruals totaling $22 million after tax, or $.05 per share (diluted);
partially offset by realized gains on derivatives of $160 million after tax, or
$.34 per share (diluted).
Cash flow from operating activities of continuing operations in the first
quarter of 2007 was $880 million, and discretionary cash flow totaled $1.24
billion.(1)
In the 2006 first quarter, net income available to common shareholders was
$660 million, or $1.42 per share (diluted).
"While we recognized several significant charges in the first quarter, we
also delivered very strong operating results, which reflect the quality of our
optimized portfolio," Anadarko Chairman, President and CEO Jim Hackett said. "We
continued to set daily production records in the Greater Natural Buttes area in
eastern Utah, the Powder River Basin in Wyoming, and the Delaware Basin in
Texas. Our positions in low-risk, capital-efficient properties such as these
enhance our ability to deliver more predictable and consistent results. In
addition, we are on schedule to produce first gas from the Independence Hub
project in the third quarter of this year. Twelve Anadarko-operated wells will
be served by the Hub. Each has been completed and flow-tested, and the export
line has been installed and pressure tested."
"Our deleveraging plan remains ahead of schedule, and we are very pleased
with the values we have received to date. We have generated more than $10.2
billion in after-tax proceeds from announced asset divestitures, putting us well
on our way toward meeting our objective to reduce net debt to $12 billion by
year-end without issuing equity."
Late last week, senior management received information from Algeria that
the withholding of the exceptional profits tax is being applied to the full
value of revenue rather than to the amounts in excess of $30 per barrel, a
possibility that was disclosed in a previous news release and Anadarko's 2006
10K. This has been evidenced by changes in the company's crude oil lifting
schedule, which has only recently been conveyed by Sonatrach. As a result,
Anadarko recorded a charge of $189 million during the first quarter. The amount
applicable to 2007 sales is approximately $100 million, with the balance being
applicable to 2006 sales. Anadarko previously expected to record a charge of $58
million in the first quarter, based on the tax being applied only to the amounts
in excess of $30 per barrel. In 2006, Anadarko recorded $103 million for the
tax.
"We are disappointed that the tax is being withheld by Algeria in this
manner," said Hackett. "This interpretation of the tax does not affect our legal
position or our expectation that we will retain the full value of our Algerian
assets through our contractual remedies."
Anadarko intends to vigorously assert its rights and remedies under its
contract with Sonatrach. However, the company has concluded that the accounting
criteria for recognizing recovery of all or part of this cost under its
contracts with Sonatrach are not yet met.
First-quarter sales volumes of natural gas, crude oil and natural gas
liquids totaled 59 million barrels of oil equivalent (BOE), or 653,000 BOE per
day. Natural gas sales volumes averaged 2.20 billion cubic feet per day, at an
average price of $5.42 per thousand cubic feet. Oil sales volumes in the first
quarter averaged 237,000 barrels per day, with an average price of $50.60 per
barrel. Natural gas liquids sales volumes averaged 49,000 barrels per day, at an
average price of $35.65 per barrel.
CONFERENCE CALL TOMORROW AT 9 A.M. CDT, 10 A.M. EDT
Anadarko will host a conference call on Tuesday, May 1, at 9 a.m. Central
Daylight Time (10 a.m. Eastern Daylight Time) to discuss first-quarter results
and the company's revised outlook for 2007. The dial-in number is 913-981-4900,
and the confirmation number is 6428130. For complete instructions on how to
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 first-quarter activity. The report will be available at
www.anadarko.com on the Investor Relations page.
FINANCIAL DATA
Nine pages of summary financial data follow, including current hedge
positions, guidance and supplemental production guidance for the retained
assets.
Anadarko Petroleum Corporation's mission is to deliver a competitive and
sustainable rate of return to shareholders by exploring for, acquiring and
developing oil and natural gas resources vital to the world's health and
welfare. As of year-end 2006, the company had 3.0 billion barrels-equivalent of
proved reserves, making it one of the world's largest independent exploration
and production companies. In August 2006, Anadarko acquired Kerr-McGee
Corporation and Western Gas Resources, Inc. in separate transactions.
(1) See the accompanying table for a reconciliation of GAAP to non-GAAP
financial measures and a statement indicating why management believes the
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 such
expectations will prove to have been correct. A number of factors could cause
actual results to differ materially from the projections, anticipated results or
other expectations expressed in this news release. See "Risk Factors" in the
company's 2006 Annual Report on Form 10-K and other public filings and press
releases. Anadarko undertakes no obligation to publicly update or revise any
forward-looking statements.
Anadarko Petroleum Corporation
Reconciliation of GAAP to Non-GAAP Measures
Below is a reconciliation of cash provided by operating activities
(GAAP) to discretionary cash flow (non-GAAP) as required under
Regulation G of the Securities Exchange Act of 1934. The company uses
discretionary cash flow 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
March 31
-----------------------------
millions 2007 2006
- ---------------------------------------------------------------------
Cash Flow
- ---------------------------------------------------------------------
Net cash provided by operating
activities - continuing operations $880 $904
Add back:
Change in accounts receivable (587) (303)
Change in accounts payable and
accrued expenses 1,077 277
Change in other items - net (131) 122
- ---------------------------------------------------------------------
Discretionary Cash Flow from Continuing
Operations $1,239 $1,000
- ---------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended
Summary Financial Information March 31
-----------------------------
$ and shares in millions 2007 2006
- ---------------------------------------------------------------------
Revenues
- ---------------------------------------------------------------------
Gas sales $1,075 $744
Oil and condensate sales 1,078 801
Natural gas liquids sales 157 107
Gathering, processing and marketing
sales 361 16
Other 12 33
- ---------------------------------------------------------------------
Total 2,683 1,701
- ---------------------------------------------------------------------
Costs and Expenses
- ---------------------------------------------------------------------
Oil and gas operating 328 124
Oil and gas transportation and other 107 75
Gathering, processing and marketing 299 18
General and administrative 231 105
Depreciation, depletion and amortization 845 293
Other taxes 351 107
Impairments 6 13
- ---------------------------------------------------------------------
Total 2,167 735
- ---------------------------------------------------------------------
Operating Income 516 966
- ---------------------------------------------------------------------
Interest Expense and Other (Income)
Expense
- ---------------------------------------------------------------------
Interest expense 310 53
Other (income) expense (29) -
- ---------------------------------------------------------------------
Total 281 53
- ---------------------------------------------------------------------
Income from Continuing Operations Before
Income Taxes 235 913
- ---------------------------------------------------------------------
Income Tax Expense 157 348
- ---------------------------------------------------------------------
Income from Continuing Operations $78 $565
- ---------------------------------------------------------------------
Income from Discontinued Operations, net
of taxes 27 96
- ---------------------------------------------------------------------
Net Income $105 $661
- ---------------------------------------------------------------------
Preferred Stock Dividends 1 1
- ---------------------------------------------------------------------
Net Income Available to Common
Stockholders $104 $660
- ---------------------------------------------------------------------
Per Common Share
- ---------------------------------------------------------------------
Income from continuing operations -
basic $0.17 $1.23
Income from continuing operations -
diluted $0.17 $1.22
Income from discontinued operations, net
of taxes - basic $0.06 $0.21
Income from discontinued operations, net
of taxes - diluted $0.06 $0.20
Net income available to common
stockholders - basic $0.23 $1.43
Net income available to common
stockholders - diluted $0.23 $1.42
- ---------------------------------------------------------------------
Average Number of Common Shares
Outstanding - Basic 463 460
- ---------------------------------------------------------------------
Average Number of Common Shares
Outstanding - Diluted 465 465
- ---------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended
Summary Financial Information March 31
-----------------------------
$ in millions 2007 2006
- ---------------------------------------------------------------------
Cash Flow from Operating Activities
- ---------------------------------------------------------------------
Net income $105 $661
Less net income from discontinued
operations (27) (96)
Depreciation, depletion and amortization 845 293
Deferred income taxes (228) 121
Impairments 6 13
Unrealized (gains) losses on derivatives 494 (13)
Other noncash items 44 21
- ---------------------------------------------------------------------
Discretionary Cash Flow from Continuing
Operations 1,239 1,000
(Increase) decrease in accounts
receivable 587 303
Increase (decrease) in accounts payable
and accrued expenses (1,077) (277)
Other items - net 131 (122)
- ---------------------------------------------------------------------
Cash provided by operating activities -
continuing operations 880 904
Cash provided by operating activities -
discontinued operations 11 318
- ---------------------------------------------------------------------
Net Cash Provided by Operating
Activities $891 $1,222
- ---------------------------------------------------------------------
- ---------------------------------------------------------------------
Capital Expenditures
- ---------------------------------------------------------------------
Capital spending $1,005 $731
Capitalized interest 45 13
Capitalized overhead 44 40
- ---------------------------------------------------------------------
Capital expenditures - continuing
operations 1,094 784
Capital expenditures - discontinued
operations - 200
- ---------------------------------------------------------------------
Total $1,094 $984
- ---------------------------------------------------------------------
March 31, December 31,
2007 2006
- ---------------------------------------------------------------------
Condensed Balance Sheet
- ---------------------------------------------------------------------
Cash and cash equivalents $3,649 $511
Other current assets 3,171 4,103
Net properties and equipment 43,695 48,739
Other assets 904 875
Goodwill and other intangible assets 4,461 4,616
- ---------------------------------------------------------------------
Total Assets $55,880 $58,844
- ---------------------------------------------------------------------
Current debt $9,748 $11,471
Other current liabilities 4,361 5,287
Long-term debt 11,527 11,520
Other long-term liabilities 15,135 15,653
Stockholders' equity 15,109 14,913
- ---------------------------------------------------------------------
Total Liabilities and Stockholders'
Equity $55,880 $58,844
- ---------------------------------------------------------------------
Capitalization
- ---------------------------------------------------------------------
Total debt $21,275 $22,991
Stockholders' equity 15,109 14,913
- ---------------------------------------------------------------------
Total $36,384 $37,904
- ---------------------------------------------------------------------
Capitalization Ratios
- ---------------------------------------------------------------------
Total debt 58% 61%
Stockholders' equity 42% 39%
- ---------------------------------------------------------------------
Anadarko Petroleum Corporation
Quarter Ended
Volumes and Prices March 31
-----------------------------
2007 2006
- ---------------------------------------------------------------------
Natural Gas
- ---------------------------------------------------------------------
United States
- ---------------------------------------------------------------------
Volumes, billion cubic feet 198 98
Average daily volumes, million cubic
feet per day 2,204 1,091
Price per thousand cubic feet excluding
derivatives $6.24 $7.48
- ---------------------------------------------------------------------
Gains (losses) on derivatives $(0.82) $0.10
- ---------------------------------------------------------------------
Total price per thousand cubic feet $5.42 $7.58
- ---------------------------------------------------------------------
Crude Oil and Condensate
- ---------------------------------------------------------------------
United States
- ---------------------------------------------------------------------
Volumes, million barrels 14 6
Average daily volumes, thousand barrels
per day 149 71
Price per barrel excluding derivatives $52.81 $57.60
- ---------------------------------------------------------------------
Gains (losses) on derivatives $(5.15) $(0.36)
- ---------------------------------------------------------------------
Total price per barrel $47.66 $57.24
- ---------------------------------------------------------------------
Algeria
- ---------------------------------------------------------------------
Volumes, million barrels 7 6
Average daily volumes, thousand barrels
per day 72 62
Price per barrel excluding derivatives $59.65 $63.11
- ---------------------------------------------------------------------
Gains (losses) on derivatives $(1.90) $-
- ---------------------------------------------------------------------
Total price per barrel $57.75 $63.11
- ---------------------------------------------------------------------
Other International
- ---------------------------------------------------------------------
Volumes, million barrels 1 2
Average daily volumes, thousand barrels
per day 16 19
Price per barrel $45.95 $48.00
- ---------------------------------------------------------------------
Total
- ---------------------------------------------------------------------
Volumes, million barrels 22 14
Average daily volumes, thousand barrels
per day 237 152
Price per barrel excluding derivatives $54.42 $58.61
- ---------------------------------------------------------------------
Gains (losses) on derivatives $(3.82) $(0.17)
- ---------------------------------------------------------------------
Total price per barrel $50.60 $58.44
- ---------------------------------------------------------------------
Natural Gas Liquids
- ---------------------------------------------------------------------
United States
- ---------------------------------------------------------------------
Volumes, million barrels 4 3
Average daily volumes, thousand barrels
per day 49 31
Total price per barrel $35.65 $38.88
- ---------------------------------------------------------------------
Total Barrels of Oil Equivalent (BOE) -
continuing operations
- ---------------------------------------------------------------------
Volumes, million BOE 59 33
Average daily volumes, thousand BOE per
day 653 365
- ---------------------------------------------------------------------
Total Barrels of Oil Equivalent (BOE) -
discontinued operations
- ---------------------------------------------------------------------
Volumes, million BOE - 5
Average daily volumes, thousand BOE per
day - 54
- ---------------------------------------------------------------------
Total Barrels of Oil Equivalent (BOE)
- ---------------------------------------------------------------------
Volumes, million BOE 59 38
Average daily volumes, thousand BOE per
day 653 419
Anadarko Petroleum Corporation
Financial and Operating Guidance
Continuing Operations
As of April 30, 2007
2nd Quarter Total Year
2007 Forecast 2007 Forecast
------------------ ------------------
Units Units
------------------ ------------------
Total Sales (MMBOE) (a) 50 - 53 197 - 207
Crude Oil (MBbl/d): 220 - 230 190 - 200
United States 120 - 130 115 - 120
Algeria 60 - 65 60 - 62
Other International 38 - 42 15 - 18
Natural Gas (MMcf/d):
United States 1,850 - 1,925 1,920 - 1,975
Natural Gas Liquids (MBbl/d):
United States 37 - 40 36 - 40
(a) Sales include volumes associated with divestitures of 9 MMBOE in
the 1st Quarter, 4-6 MMBOE in the 2nd Quarter and 13-15 MMBOE for the
year.
- ----------------------------------------------------------------------
$/ Unit $/ Unit
------------------ ------------------
Price Differentials vs NYMEX
(w/o hedges)
Crude Oil ($/Bbl): (5.00) - (6.00) (5.00) - (6.00)
United States (6.00) - (8.00) (6.50) - (8.50)
Algeria (1.00) - (1.50) - - (1.00)
Other International (12.00) - (15.00) (12.00) - (15.00)
Natural Gas ($/Mcf):
United States (1.25) - (1.75) (1.25) - (1.75)
Anadarko Petroleum Corporation
Financial and Operating Guidance
Continuing Operations
As of April 30, 2007
2nd Quarter Total Year
2007 Forecast 2007 Forecast
------------------- ------------------
$MM $MM
------------------- ------------------
Other Revenues:
Gathering, Processing &
Marketing Margins 70 - 80 190 - 210
Minerals and Other 25 - 30 90 - 110
- ---------------------------------------------------------------------
Costs and Expenses:
$ / Boe $ / Boe
------------------- ------------------
Oil & Gas Lease Operating 5.00 - 5.50 5.00 - 5.50
Oil & Gas Transportation 1.60 - 1.75 1.60 - 1.75
Depreciation, Depletion and
Amortization 14.00 - 14.50 14.00 - 14.50
Production Taxes (% of
Revenue) 11% - 12% 12% - 13%
$MM $MM
------------------- ------------------
General and Administrative
(excludes restructuring
charges) 180 - 195 675 - 725
Impairments Related to Oil
and Gas Properties - - 25 - - 100
Interest Expense 250 - 270 900 - 925
Other (Income) Expense (10) - 10 (40) - 20
Federal Tax Rate 40% - 46% 40% - 46%
- ---------------------------------------------------------------------
Avg. Shares Outstanding (MM)
Basic 464 - 465 465 - 468
Diluted 465 - 466 467 - 470
$MM $MM
------------------- ------------------
Capital Investment 1,180 - 1,250 4,200 - 4,400
Capital Projects 1,100 - 1,150 3,850 - 3,975
Capitalized Direct Expenses 40 - 50 175 - 225
Capitalized Interest 40 - 50 175 - 200
Anadarko Petroleum Corporation
Commodity Hedge Position for 2nd Quarter 2007 and Beyond (excluding
Natural Gas Basis)
As of April 30, 2007
----------------- -------------------------
Fixed and
Physical 2- Way Collars
----------------- -------------------------
- -------------------------- ----------------- -------------------------
NYMEX
Crude Oil Volume Price Volume Floor Ceiling
Bbl/day $/Bbl Bbl/day $/Bbl $/Bbl
- -------------------------- ----------------- -------------------------
United States
----------------- -------------------------
Remainder 2007 27,250 $51.44 18,542 $44.33 $60.40
----------------- -------------------------
Total Year 2008
Total Year 2009
Total Year 2010
Total Year 2011
Total Year 2012
Algeria
Total Year 2008
Total Year 2009
Total Year 2010
Total Crude Oil, All
Locations
----------------- -------------------------
Remainder 2007 27,250 $51.44 18,542 $44.33 $60.40
----------------- -------------------------
Total Year 2008
Total Year 2009
Total Year 2010
Total Year 2011
Total Year 2012
Divestiture Hedges
(Not included with
hedges above)
Remainder 2007 4,155 $62.37
Total Year 2008 3,735 $64.93
Total Year 2009 3,670 $64.81
Total Year 2010 190 $68.91 352 $60.00 $76.34
Total Year 2011 470 $60.00 $74.74
Total Year 2012 408 $60.00 $73.69
Total Year 2013 115 $60.00 $73.50
- -------------------------- ----------------- -------------------------
NYMEX
Natural Gas Volume Price Volume Floor Ceiling
MMMBtu/d $/MMBtu MMMBtu/d $/MMBtu $/MMBtu
- -------------------------- ----------------- -------------------------
United States
----------------- -------------------------
Remainder 2007 265.0 $7.03 386.0 $6.27 $10.73
----------------- -------------------------
Total Year 2008
Total Year 2009
Divestiture Hedges
(Not included with
hedges above)
-----------------
Remainder 2007 93.0 $7.80
-----------------
-----------------
Total Year 2008 77.9 $8.23
-----------------
-----------------
Total Year 2009 64.1 $7.97
-----------------
----------------- -------------------------
Total Year 2010 2.3 $8.38 0.5 $7.10 $9.10
----------------- -------------------------
-------------------------
Total Year 2011 0.7 $7.15 $9.25
-------------------------
-------------------------
Total Year 2012 0.6 $6.95 $9.00
-------------------------
-------------------------
Total Year 2013 0.2 $7.25 $9.25
-------------------------
----------------------------------
3- Way Collars
----------------------------------
- ---------------------------------- ----------------------------------
Sold Purchased
Crude Oil Volume Floor Floor Ceiling
Bbl/day $/Bbl $/Bbl $/Bbl
- ---------------------------------- ----------------------------------
United States
----------------------------------
Remainder 2007 35,000 $43.57 $58.57 $86.16
----------------------------------
----------------------------------
Total Year 2008 67,000 $43.21 $58.21 $94.75
----------------------------------
----------------------------------
Total Year 2009 28,000 $40.36 $55.36 $87.34
----------------------------------
----------------------------------
Total Year 2010 8,000 $35.00 $50.00 $86.49
----------------------------------
----------------------------------
Total Year 2011 3,000 $35.00 $50.00 $86.00
----------------------------------
----------------------------------
Total Year 2012 1,500 $35.00 $50.00 $92.50
----------------------------------
Algeria
----------------------------------
Total Year 2008 19,000 $33.51 $48.51 $86.73
----------------------------------
----------------------------------
Total Year 2009 20,000 $33.51 $48.51 $86.62
----------------------------------
----------------------------------
Total Year 2010 10,000 $33.53 $48.53 $86.98
----------------------------------
Total Crude Oil, All Locations
----------------------------------
Remainder 2007 35,000 $43.57 $58.57 $86.16
----------------------------------
----------------------------------
Total Year 2008 86,000 $41.07 $56.07 $92.98
----------------------------------
----------------------------------
Total Year 2009 48,000 $37.51 $52.51 $87.04
----------------------------------
----------------------------------
Total Year 2010 18,000 $34.18 $49.19 $86.76
----------------------------------
----------------------------------
Total Year 2011 3,000 $35.00 $50.00 $86.00
----------------------------------
----------------------------------
Total Year 2012 1,500 $35.00 $50.00 $92.50
----------------------------------
Divestiture Hedges
(Not included with
hedges above)
Remainder 2007
Total Year 2008
Total Year 2009
Total Year 2010
Total Year 2011
Total Year 2012
Total Year 2013
- ---------------------------------- ----------------------------------
Sold Purchased
Natural Gas Volume Floor Floor Ceiling
MMMBtu/d $/MMBtu $/MMBtu $/MMBtu
- ---------------------------------- ----------------------------------
United States
----------------------------------
Remainder 2007 30.0 $6.00 $9.00 $11.23
----------------------------------
----------------------------------
Total Year 2008 500.0 $5.00 $7.50 $14.26
----------------------------------
----------------------------------
Total Year 2009 50.0 $5.00 $7.50 $12.60
----------------------------------
Divestiture Hedges
(Not included with
hedges above)
Remainder 2007
Total Year 2008
Total Year 2009
Total Year 2010
Total Year 2011
Total Year 2012
Total Year 2013
Prices are weighted averages of all transactions for each transaction
type presented.
Divestiture hedges are transactions that will be assigned to another
party upon closing of a previously announced divestiture.
Anadarko Petroleum Corporation
Natural Gas Basis Hedge Position for 2nd Quarter 2007 and Beyond
As of April 30, 2007
- ----------------------------------------------------------------------
-----------------------------
Daily Volume (MMBtu's) by
Pricing Point
- ----------------------------------------------------------------------
Pricing Point 2007 2008 2009
- ----------------------------------------------------------------------
Gulf Coast 130.6 110.0 0.0
Mid Continent 220.0 210.0 0.0
Rocky Mountains 180.0 245.0 20.0
West Texas 10.0 10.0 0.0
-----------------------------
Total Daily Volume Hedged 540.6 575.0 20.0
=============================
-----------------------------
Average Price Differential to
Henry Hub
- ----------------------------------------------------------------------
Pricing Point 2007 2008 2009
- ----------------------------------------------------------------------
Gulf Coast ($0.614) ($0.475) -
Mid Continent ($0.986) ($0.922) -
Rocky Mountains ($1.471) ($1.426) ($1.080)
West Texas ($1.196) ($1.080) -
-----------------------------
Average Price Differential Hedged ($1.081) ($1.053) ($1.080)
=============================
- ----------------------------------------------------------------------
Rockies Export Firm Transportation
As of April 30, 2007
- ----------------------------------------------------------------------
-----------------------------
Daily Volume (MMMBtu's) by
Pricing Point
- ----------------------------------------------------------------------
Delivery/ Pricing Point 2007 2008 2009
- ----------------------------------------------------------------------
Mid Continent 471 471 471
West Coast 88 78 78
San Juan 15
-----------------------------
Total 574 549 549
=============================
Assumes ROFR rights are exercised
- ----------------------------------------------------------------------
Anadarko Petroleum Corporation
Production from Retained Properties
Recent Performance and 2007 Guidance
As of April 30, 2007
Q4 2006 Q1 2007 Total Year 2007
Actuals Actuals Q2 2007 Guidance Guidance
-------- -------- ------------------ -------------------
TOTAL SALES
(MMBOE) 48.4 49.8 46.0 - 48.0 184.0 - 192.0
Natural Gas
(MMcf/d) 1,791.5 1,833.8 1,710.0 - 1,760.0 1,740.0 - 1,800.0
Crude Oil
(MBbl/d) 204.5 208.5 191.0 - 200.0 182.0 - 191.0
Natural Gas
Liquids
(MBbl/d) 34.2 39.3 29.0 - 36.0 29.0 - 35.0
ROCKIES
Natural Gas
(MMcf/d) 917.2 939.6 910.0 - 930.0 925.0 - 945.0
Crude Oil
(MBbl/d) 23.1 23.5 23.0 - 24.0 24.0 - 25.0
Natural Gas
Liquids
(MBbl/d) 16.9 16.3 14.0 - 16.0 14.0 - 15.0
Total Sales
(MMBOE) 17.4 17.7 17.0 - 18.0 70.0 - 71.0
SOUTHERN
Natural Gas
(MMcf/d) 639.5 680.7 605.0 - 625.0 595.0 - 615.0
Crude Oil
(MBbl/d) 12.2 12.6 9.0 - 10.0 8.0 - 9.0
Natural Gas
Liquids
(MBbl/d) 10.3 14.3 10.0 - 12.0 10.0 - 12.0
Total Sales
(MMBOE) 11.6 12.6 11.0 - 11.5 43.0 - 44.0
GULF OF
MEXICO
Natural Gas
(MMcf/d) 239.7 222.1 200.0 - 215.0 225.0 - 275.0
Crude Oil
(MBbl/d) 63.0 60.1 59.0 - 61.0 55.0 - 59.0
Natural Gas
Liquids
(MBbl/d) 4.2 3.9 2.0 - 4.0 2.0 - 4.0
Total Sales
(MMBOE) 9.6 9.1 8.5 - 9.0 35.0 - 40.0
INTERNATIONAL
/ FRONTIER
Natural Gas
(MMcf/d) 0.4 0.3 0.0 - 0.0 0.0 - 0.0
Crude Oil
(MBbl/d) 106.2 112.2 100.0 - 105.0 95.0 - 98.0
Natural Gas
Liquids
(MBbl/d) - - - - - - - -
Total Sales
(MMBOE) 9.6 10.1 9.0 - 9.5 35.0 - 36.0
CONTACT: Anadarko Petroleum Corporation, Houston
Media:
John Christiansen, 832-636-8736
john.christiansen@anadarko.com
or
Investors:
John Colglazier, 832-636-2306
john.colglazier@anadarko.com