Anadarko Petroleum Corporation
 | |
| Type | Public |
|---|---|
| Industry | Oil Production |
| Founded | 1959 |
| Headquarters |
Anadarko Tower The Woodlands, Texas |
| Key people | James T. Hackett, President & CEO |
| Products | Petrochemical products |
| Revenue | ▲$15.72 billion USD (2008)[1] |
| Net income | ▲$3.29 billion USD (2008)[1] |
| Employees | 4000 (2008) |
| Website | Anadarko.com |
Anadarko Petroleum Corporation (NYSE: APC) is one of the world’s largest independent oil and gas exploration and production companies, with approximately 2.3 billion barrels of oil equivalent (BOE) of proved reserves and production of 206 million BOE as of December 31, 2008. Anadarko employs a worldwide workforce of about 4,000.[1] The company is headquartered in The Woodlands, SPD Montgomery County, Texas.[2]
Contents
History
Anadarko, historically a subsidiary of Panhandle Eastern Corporation (which existed from 1928 to 1993; Panhandle Eastern has since been acquired by Southern Union Company), was formed in 1959 after the discovery of large amounts of natural gas in the Anadarko Basin (the basin comprises the Texas and Oklahoma panhandles, and southwest Kansas), thus the company's name. Anadarko spun off from Panhandle Eastern as an independent corporation in 1986 and now has activities in more than a dozen countries. The United States, deepwater Gulf of Mexico and Algeria represent the majority of the company's proved reserves and production; U.S. onshore accounts for about 60%.)[3]
Deepwater Horizon Oil Spill Involvement
Anadarko has 25 percent working interest in BP's Macondo Prospect and its finances have been rocked by the Deepwater Horizon oil spill.[4]
BP has billed Anadarko more than $272 million for its share of cleanup and response costs in the Gulf, according to a bill that was sent by BP and obtained by TPMMuckraker. Anadarko publicly suggested this month 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. 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 [5] .
Activity
Anadarko's major areas of operation are located onshore in the United States, the deepwater of the Gulf of Mexico and Algeria. Anadarko also has exploration and/or production in Alaska, China, Brazil, Ghana, Indonesia, Mozambique and several other countries. The Company actively markets natural gas, oil and natural gas liquids (NGLs) and owns and operates gas gathering and processing systems.[1]
Other productions
In addition, Anadarko engages in the hard minerals business 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 (32,000 km2) strip running through portions of Colorado, Wyoming and Utah where the Company owns most of its fee mineral rights. Anadarko is committed to minimizing the environmental impact of exploration and production activities in its worldwide operations through programs such as enhanced oil recovery that prevents a greenhouse gas from being emitted into the atmosphere by utilizing carbon dioxide (CO2) to stimulate oil production and the reduction of surface area used for production facilities.[1]
Headquarters
Anadarko Petroleum Corporation is headquartered in the Anadarko Tower in The Woodlands, Texas. On February 11, 1999 Anadarko announced that it would purchase a 7.5-acre tract in The Woodlands, Montgomery County from the Woodlands Land Company. There Anadarko planned to build an 800,000-square foot, 32 story headquarters building. Anadarko opened the headquarters in mid-2002.[6]
The company previously occupied the 17001 Northchase Drive in the Greenspoint district and in Houston.[7] The tower, which was previously known as the Anadarko Tower, was built in a two-year period prior to December 1992.[8]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 "2008 Form 10K for Anadarko Petroleum Corporation". 31 Dec 2008. http://idea.sec.gov/Archives/edgar/data/773910/000119312509036986/d10k.htm.
- ↑ "Office locations." Anadarko Petroleum Corporation. Retrieved on August 14, 2009.
- ↑ Anadarko 10-K report 2007
- ↑ Anadarko credit rating put on negative watch
- ↑ Exclusive: BP Bills Anadarko $272 Million In Gulf Spill Response Slajda, Rachel. TPMMuckraker June 30, 2010, 2:37PM. Retrieved on July 4, 2010.
- ↑ "Article: Anadarko to Build New Headquarters in the Woodlands." PR Newswire. February 11, 1999. Retrieved on August 15, 2009.
- ↑ "Office Locations." Anadarko Petroleum Corporation. May 7, 1998. Retrieved on August 15, 2009.
- ↑ Bivins, Ralph. "Greenspoint ground broken for Exxon Exploration building." Houston Chronicle. Thursday December 17, 1992. Business 3. Retrieved on August 2, 2009.
External links
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