Anadarko Petroleum

Anadarko Petroleum Corporation
Company typeSubsidiary
NYSE: APC
IndustryPetroleum industry
Founded1959; 65 years ago (1959)
DefunctAugust 8, 2019; 5 years ago (2019-08-08)
FateAcquired by Occidental Petroleum
Headquarters
Allison Tower
The Woodlands, Texas
,
U.S.
Key people
Robert A. Walker, Chairman and CEO
Robert G. Gwin, President
ProductsPetroleum
Natural gas
Natural gas liquids
Production output
666 thousand barrels of oil equivalent (4,070,000 GJ) per day
RevenueIncrease US$13.070 billion (2018)
Increase US$0.752 billion (2018)
Total assetsDecrease US$40.376 billion (2018)
Total equityDecrease US$8.496 billion (2018)
Number of employees
4,700 (2018)
ParentOccidental Petroleum
Footnotes / references
[1]
Anadarko Petroleum Headquarters
An aerial view of Allison Tower and Hackett Tower, the two buildings that serve as the headquarters for Anadarko Petroleum Corporation.

Anadarko Petroleum Corporation was a company engaged in hydrocarbon exploration. It was organized in Delaware and headquartered in two skyscrapers in The Woodlands, Texas: the Allison Tower and the Hackett Tower, both named after former CEOs of the company. In 2019, the company was acquired by Occidental Petroleum.

The company was the subject of multiple environmental cases, including the largest environmental contamination settlement in American history - the 2014 settlement related to the former Tronox subsidiary of Kerr McGee, a company purchased by Anadarko in 2006.[2]

In addition to exploration and production, the company engaged in petroleum and natural gas gathering, processing, treating, and transportation. The company also participated in the hard minerals business through its ownership of non-operated joint ventures and royalty arrangements. As of December 31, 2018, the company had approximately 1.473 billion barrels of oil equivalent (9.01×109 GJ) of proved reserves, 45% of which was oil reserves, 37% of which was natural gas, and 18% was natural gas liquids. In 2018, the company produced 666 thousand barrels of oil equivalent (4,070,000 GJ) per day.[1]

The company's operations in the United States accounted for 86% of total sales volumes during 2018 and 88% of total proved reserves at year-end 2018. In the United States, the company had major holdings in the Delaware Basin, where it had over 580,000 gross acres, primarily in the Cline Shale; the Denver Basin, where it had more than 400,000 net acres; operating 4,600 vertical wells and 1,400 horizontal wells, and in Greater Natural Buttes, Utah, where it had approximately 2,850 wells.[1]

The company's international operations accounted for 14% of total sales volumes during 2018 and 12% of total proved reserves at year-end 2018. The company had holdings in Algeria, Ghana, Mozambique, Colombia, and Côte d’Ivoire.[1] In the 2019 Forbes Global 2000, Anadarko Petroleum was ranked as the 587th -largest public company in the world.[3]

  1. ^ a b c d "Anadarko Petroleum Corporation 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ Tucker, Eric (April 3, 2014). "US reaches $5.15 billion environmental settlement". San Diego Union Tribune. Associated Press.
  3. ^ "Forbes Global 2000". Forbes. Retrieved 12 October 2020.