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Summary (SWOT analysis, News, Investing Strategies)

Anadarko Petroleum Corporation engages in the acquisition, exploration, and production of oil and gas primarily in the United States, the deepwater of the Gulf of Mexico, and Algeria. It markets natural gas, and oil and natural gas liquids (NGLs), as well as owns and operates gas gathering and processing systems. The company also engages in the hard minerals business through non-operated joint ventures and royalty arrangements in various coal, trona, and industrial mineral mines located on lands within and adjacent to its Land Grant holdings. In addition, it purchases natural gas, crude oil, and natural gas liquid volumes for resale. Anadarko also has production in the People's Republic of China, Venezuela, and Qatar, as well as a development project in Brazil and various strategic exploration programs in other countries. As of December 31, 2006, it had proved reserves of 10.5 trillion cubic feet of natural gas; and 1.3 billion barrels of crude oil, condensate, and natural gas liquids. The company was founded in 1959 and is headquartered in The Woodlands, Texas.

]Anadarko Petroleum Corporation (NYSE: APC) is one of the world’s largest independent oil and gas exploration and production companies, with 2.37 billion barrels of oil equivalent (BOE) of proved reserves and a production of 190 million BOE in 2004. Ranked No. 345 on the "Fortune 500" list that year, the company has assets worth $20 billion, and employs a worldwide workforce of about 4,000.

History

Anadarko, a subsidiary of Panhandle Eastern Corporation (1928-1993; Panhandle 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. It now has activities in more than a dozen countries. The United States, Canada and Algeria represent the majority of the company's proved reserves and production; U.S. onshore accounts for about 60%.

Anadarko announced on September 14th, 2006 that they had reached a deal to sell their Canadian assets, Anadarko Canada Corp., to Canadian Natural Resources Ltd.. The deal as announced is valued at $4.24 billion USD. At year end 2005, Anadarko Canada Corp. had proven reserves of 262 million BOE.

Technology

Anadarko has been at the forefront of some of the industry's most significant technological advances in 3-D seismic imaging, drilling and completion technology, and reservoir management. As information is critical in this high-tech business, the company has been placing a lot of emphasis on state-of-the-art visualization technology. Together with Mechdyne Corporation, it has installed eight visualization laboratories in its headquarters complex at The Woodlands, Texas, a suburb of Houston. Dubbed the IDEA system, an acronym for "Image Delivery for Enhanced Awareness", the laboratories allow Anadarko to maximize its sophisticated modeling tools to better evaluate drilling prospects and investment options.

Productions

Apart from oil and gas, Anadarko has a 'Minerals business unit' that manages its non-oil-and-gas mineral resources. The company holds approximately 7.5 million acres (30,000 km²) of fee mineral rights, located in Colorado, Wyoming, and Utah. These lands contain significant resources of coal, trona, limestone, titanium, zeolite, oil shale, and diamonds.

Kerr-McGee

The Kerr-McGee Corporation is an energy company involved in the exploration and production of oil and gas resources. The company, founded in 1929, has about 11.4 billion U.S. dollars in assets as of 3/31/2006. The current CEO is Luke R. Corbett.

On June 23, 2006, Houston-based Anadarko Petroleum Corporation agreed to acquire Kerr-McGee in an all-cash transaction totaling $16.4 billion. Kerr-McGee shareholders voted to approve the offer on August 10, 2006. Kerr-McGee immediately ceased to exist as an independent entity, though many aspects of company procedure and policy (such as healthcare and benefits) will be retained for a period of time. As a result of the takeover, all operations will move out of the State of Oklahoma, where Kerr-McGee employed approximately 200 people at its Oklahoma City headquarters.

Kerr-McGee History

Kerr-McGee was initially focused in mostly off-shore oil exploration and production, being one of the first companies to use drillships in the Gulf of Mexico, and later one of the first companies to use a Spar type platform in the area. With the acquisition of the Oryx Energy Company of Dallas, Texas in 1999, Kerr-McGee gained more onshore assets, as well as significant assets in several foreign areas, most notably Algeria and western Kazakhstan. Later acquisitions of HS Resources and Westport established the base of operations in Denver, Colorado and added large resource areas throughout the Rocky Mountains.

Until 2005, Kerr-McGee had two major divisions: chemical and oil-related. On November 21, 2005, the chemical division of the company, based in Oklahoma City, was sold off by IPO as Tronox, thereby making Oklahoma City home to only the administrative side of Kerr-McGee, while all exploration and production management is located in Denver and Houston.

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