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Website: http://www.anadarko.com Anadarko is one of the largest independent oil and gas exploration and production companies in the world. The Company's major areas of operation are located onshore in the United States, the deepwater of the Gulf of Mexico and Algeria. Anadarko also has production in China and a development project in Brazil and is executing strategic exploration programs in several other countries. The Company actively markets natural gas, oil and natural gas liquids (NGLs) and owns and operates gas gathering and processing systems. In addition, the Company has hard minerals properties that contribute operating income through non-operated joint ventures and royalty arrangements in several coal, trona (natural soda ash) and industrial mineral mines located on lands within and adjacent to its Land Grant holdings. The Land Grant is an 8 million acre strip running through portions of Colorado, Wyoming and Utah where the Company owns most of its fee mineral rights. In 2009, the company reported revenues of $9.0 billion, down from $15.72 billion in 2008. The company had a net loss of $103 million in 2009. Anadarko said it discovered nearly 360 million BOE of net resources from 2009 exploration activities. Anadarko announced nine deepwater discoveries in three of the most attractive deepwater plays in the world in 2009. These results include five subsalt discoveries in the Gulf of Mexico, three in the Cretaceous Fan play offshore West Africa and one in the pre-salt play offshore Brazil. "2009 was a very successful year in advancing our strategy and illustrating the high quality of our portfolio. We feel 2009 has set the stage for continuing success in 2010 and beyond," Anadarko Chairman and CEO, Jim Hackett said. "The results demonstrated the ability of our operating teams to grow our production and reserve base, prudently manage our capital spending, reduce costs, improve drilling efficiencies and move our sanctioned mega projects closer to first production. In addition, our 2009 worldwide drilling program resulted in nine significant deepwater discoveries and four successful deepwater appraisal wells that de-risked our portfolio and added to a growing list of future mega projects. When combined with the growing success of our U.S. onshore shale plays, we are confident that future years will see a material increase in production and reserve additions." History The company was named Anadarko in 1959, a subsidiary of Panhandle Eastern Pipe Line Company. The word Anadarko comes from "nadarko" - a centuries-old American Indian word signifying "those who ate the honey of the bumble-bee. On August 10, 2006, Anadarko completed the acquisition of Kerr-McGee Corporation (Kerr-McGee) in an all-cash transaction totaling $16.5 billion plus the assumption of approximately $2.6 billion in debt. On August 23, 2006, Anadarko completed the acquisition of Western Gas Resources, Inc. (Western) in an all-cash transaction totaling $4.8 billion plus the assumption of $625 million in debt. Western Gas Partners was spun off in an IPO in 2008. Benefits Medical Insurance Updated February 1, 2010 |