Find companies:

Anadarko Petroleum Corporation

Job Work/Life Balance
Compensation/Benefits
Job Security/Advancement
Management
Job Culture
27 reviews

About Anadarko Petroleum Corporation

Anadarko Petroleum has ventured beyond its original area of operation -- the Anadarko Basin -- to explore for, develop, produce, and market oil, natural gas, natural gas liquids, and related products worldwide. In 2011 the large independent company reported proved reserves (90% of which is located in the US) of 1.1 billion barrels of crude oil and NGLs and 8.4 – more... trillion cu. ft. of natural gas. Additional assets include coal, trona (natural soda ash), and other minerals. Anadarko operates a handful of gas-gathering systems in the Mid-Continent. Internationally, the company has substantial oil and gas interests in Algeria. It also has holdings in Brazil, China, Indonesia, Mazambique, and West Africa.

Financial Analysis

That year, higher oil and NGL prices helped to lift the company's overall revenues, despite weak natural gas commodity prices. However, Anadarko's settlement with BP created a major net loss for the company in 2011. The company held a minority stake in BP's ill-fated Macondo well in the Gulf of Mexico. Despite attempts by BP to make Anadarko liable for part of the clean up costs related to destruction of that rig in 2010 and the devastating oil spill that followed, Anadarko initially rebuffed such claims, citing BP's negligence. It did reach a settlement with BP in 2011, transferring its minority stake in the Macondo well to BP and paying that company $4 billion.

In 2010 the company reported a 9% growth in sales volumes, while it cut oil and gas operating expenses by 7%. Higher commodity prices and increased production volumes (coupled with cost-cutting measures) lifted Anadarko's revenues and net income in 2010.

Strategy

In 2012 the company resolved a tax dispute, allowing it to resume full operations in Algeria. (Algeria accounted for 15% of Anadarko's total revenues in 2011).

Anadarko added a total of 392 million barrels of oil equivalent reserves in 2011. Taking advantage of a low priced assets, that year Anadarko and Newfield Exploration bought properties in the Maverick Basin in Texas for $310 million from bankrupt TXCO.

To raise cash to help it exploit its US shale assets (a growth segment), in 2011 the company closed a joint venture deal with Korea National Oil (KNOC) under which KNOC agreed to pay $1.6 billion over serveral years for one-third of Anadarko's holdings in the lucrative Eagle Ford shale play in South Texas. – less

Anadarko Petroleum Corporation Employer Reviews

Onsite Audio Visual/ I.T Support Technician (Former Employee), The Woodlands, TexasDecember 24, 2014
HSE International Internship (Former Employee), The Woodlands, TXDecember 23, 2014
IOC Technician (Current Employee), Williamsport, PADecember 13, 2014
Lead Project Controls Specialist (Former Employee), The Woodlands TexasNovember 4, 2014
Land Specialist I (Current Employee), The Woodlands, TXAugust 23, 2014

Anadarko Petroleum Corporation Photos