Anadarko Petroleum

Address:
1201 Lake Robbins Drive
The Woodlands, Texas 77380
Phone:
832 636-1000

Anadarko Petroleum is one of the world’s largest independent oil and gas exploration and production companies and the largest independent deepwater producer in the Gulf of Mexico. Anadarko Petroleum also has production and/or exploration operations in Alaska, Algeria, Brazil, China, Indonesia, East Africa, and West Africa. Anadarko’s active areas in the United States include onshore in the lower 48 states and Alaska, and the deepwater Gulf of Mexico. Anadarko’s primary business segments are Oil and Gas exploration and production, Midstream, and Marketing.

Anadarko allocated approximately 65% of its 2010 oil and gas exploration and production segment capital budget to properties in the United States, with 20% going to the deepwater Gulf of Mexico region. In the Gulf of Mexico, Anadarko operates eight floating platforms, holds interests in 26 producing fields, and is in the process of delineating and developing seven additional fields in the area. In 2009, Anadarko drilled seven development wells in the Gulf of Mexico.

Anadarko Petroleum is listed on the New York Stock Exchange under the symbol “APC”. In 2009, Anadarko Petroleum earned a total of $9 billion in total revenues. This was a large decline from its 2008 total revenues of $15.7 billion. In 2008, the company had approximately 4,000 employees.

Anadarko owns 25% working interest in BP‘s Macondo Prospect and its finances have been rocked by the Deepwater Horizon oil spill. BP has sent Anadarko an invoice for response costs for more than $272 million for its share of cleanup and response costs in the Gulf. Anadarko publicly suggested that it won’t pay for costs associated with the oil disaster, claiming in a statement that BP is guilty of gross negligence or willful misconduct, according to Business Insider. Under the joint operating agreement, Anadarko must pay its portion of costs related to any incident unless that incident was caused by its partner’s gross negligence or willful misconduct.

Anadarko Petroleum’s competitors include BP, ConocoPhillips, and ExxonMobil. Its product is a commodity good, meaning that it is only differentiated from competitors by price. Anadarko’s success is determined by the demand for oil and natural gas, and the company is considered a competitive producer among its peers.

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