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Headquarters: Website: http://www.anadarko.com Anadarko is one of the largest independent oil and gas exploration and production companies in the world with 2.79 billion barrels of oil equivalent (BBOE) of proved reserves. The company's portfolio of assets encompasses premier positions in the Rocky Mountains region, the southern United States and the Appalachian Basin. The company also is a premier deepwater producer in the Gulf of Mexico, and has production in Alaska, Algeria and Ghana with additional exploration opportunities in West Africa, Mozambique, Kenya, South Africa, Colombia, Guyana, New Zealand and China. In 2013, the company reported revenues of $14.5 billion, up from $13.4 billion in 2012. The company had net income of $801 million in 2013. During 2013, Anadarko produced approximately 781,000 BOE per day -- enough to meet the daily energy demands of over 24 million average American homes. Anadarko added 551 million BOE of proved reserves in 2013. The company estimates its proved reserves at year-end 2013 totaled 2.79 billion BOE, with 72 percent of its reserves categorized as proved developed. At year-end 2013, Anadarko's proved reserves were comprised of 45 percent liquids and 55 percent natural gas.
In 2013, Anadarko achieved first oil at the El Merk development in Algeria. All three facilities are now operational, with recent net production achieving a rate of more than 30,000 barrels per day. In the deepwater Gulf of Mexico, the company completed installation of the 80,000-barrels-of-oil-per-day Lucius spar, with the topsides expected to be towed to location in the first quarter of 2014. Lucius is progressing on schedule toward first oil production in the second half of 2014. Construction on the Lucius-look-alike Heidelberg spar is more than 70-percent complete, remaining on schedule for first oil production in 2016. The TEN development, which was sanctioned and received approval from the Government of Ghana in 2013, also is expected to achieve first oil in 2016.
Anadarko and its partners continue to make steady progress marketing LNG sourced from the Anadarko-operated Offshore Area 1 in Mozambique. To date, the partners have reached multiple non-binding Heads of Agreement (HOAs) for long-term LNG sales to buyers in premium Asian markets covering approximately two-thirds of the first 5-million-tonne-per-annum train. 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 9, 2014 |