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 3,400.
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. |
