Anadarko Petroleum Corporation
Overview
 


Anadarko Petroleum Corporation is one of the world’s largest independent oil and gas exploration
Oil exploration
Hydrocarbon exploration is the search by petroleum geologists and geophysicists for hydrocarbon deposits beneath the Earth's surface, such as oil and natural gas...

 and production companies, with approximately 2.3 billion
1000000000 (number)
1,000,000,000 is the natural number following 999,999,999 and preceding 1,000,000,001.In scientific notation, it is written as 109....

 barrels of oil equivalent
Barrel of oil equivalent
The barrel of oil equivalent is a unit of energy based on the approximate energy released by burning one barrel of crude oil. The US Internal Revenue Service defines it as equal to 5.8 × 106 BTU...

 (BOE
Boe
- Abbreviations, acronyms or initialisms :* Bank of England, the central bank of the United Kingdom* Barrel of oil equivalent, a unit of energy* Bastards of Evil, a comic book supervillain team* Bill of Exchange* Blades of Exile, a computer role-playing game...

) of proved reserves
Oil reserves
The total estimated amount of oil in an oil reservoir, including both producible and non-producible oil, is called oil in place. However, because of reservoir characteristics and limitations in petroleum extraction technologies, only a fraction of this oil can be brought to the surface, and it is...

  and production of 206 million BOE as of December 31, 2008. Anadarko employs a worldwide workforce of about 4,000. The company is headquartered in The Woodlands
The Woodlands, Texas
The Woodlands is a master-planned community and a Census-designated place in the U.S. state of Texas within the metropolitan area. The population of the CDP was 55,649 at the 2000 census—a 90 percent increase over its 1990 population. According to the 2010 census, The Woodlands' population rose...

, SPD
Special-purpose district
Special-purpose districts or special district governments in the United States are independent governmental units that exist separately from, and with substantial administrative and fiscal independence from, general purpose local governments such as county, municipal, and township governments. As...

 Montgomery County
Montgomery County, Texas
Montgomery County is a county located in the U.S. state of Texas within the Houston–Sugar Land–Baytown metropolitan area. The county was created by an act of the Congress of the Republic of Texas on December 14, 1837. The county was named for the town of Montgomery, Texas. In 2000, its...

, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...

.
Anadarko, historically a subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...

 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
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...

 in the Anadarko Basin
Anadarko Basin
The Anadarko Basin is a geologic depositional and structural basin centered in the western part of the state of Oklahoma and the Texas Panhandle, and extending into western Kansas and southeast Colorado.-Geology:...

 (the basin
Depression (geology)
A depression in geology is a landform sunken or depressed below the surrounding area. Depressions may be formed by various mechanisms.Structural or tectonic related:...

 comprises the Texas
Texas Panhandle
The Texas Panhandle is a region of the U.S. state of Texas consisting of the northernmost 26 counties in the state. The panhandle is a rectangular area bordered by New Mexico to the west and Oklahoma to the north and east...

 and Oklahoma
Oklahoma Panhandle
The Oklahoma Panhandle is the extreme western region of the state of Oklahoma, comprising Cimarron County, Texas County, and Beaver County. Its name comes from the similarity of shape to the handle of a cooking pan....

 panhandle
Panhandle
A panhandle is an informal geographic term for an elongated arm-like protrusion of a geo-political entity, such as a subnational entity or a sovereign state.-Term:...

s, and southwest Kansas
Kansas
Kansas is a US state located in the Midwestern United States. It is named after the Kansas River which flows through it, which in turn was named after the Kansa Native American tribe, which inhabited the area. The tribe's name is often said to mean "people of the wind" or "people of the south...

), thus the company's name.
Encyclopedia


Anadarko Petroleum Corporation is one of the world’s largest independent oil and gas exploration
Oil exploration
Hydrocarbon exploration is the search by petroleum geologists and geophysicists for hydrocarbon deposits beneath the Earth's surface, such as oil and natural gas...

 and production companies, with approximately 2.3 billion
1000000000 (number)
1,000,000,000 is the natural number following 999,999,999 and preceding 1,000,000,001.In scientific notation, it is written as 109....

 barrels of oil equivalent
Barrel of oil equivalent
The barrel of oil equivalent is a unit of energy based on the approximate energy released by burning one barrel of crude oil. The US Internal Revenue Service defines it as equal to 5.8 × 106 BTU...

 (BOE
Boe
- Abbreviations, acronyms or initialisms :* Bank of England, the central bank of the United Kingdom* Barrel of oil equivalent, a unit of energy* Bastards of Evil, a comic book supervillain team* Bill of Exchange* Blades of Exile, a computer role-playing game...

) of proved reserves
Oil reserves
The total estimated amount of oil in an oil reservoir, including both producible and non-producible oil, is called oil in place. However, because of reservoir characteristics and limitations in petroleum extraction technologies, only a fraction of this oil can be brought to the surface, and it is...

  and production of 206 million BOE as of December 31, 2008. Anadarko employs a worldwide workforce of about 4,000. The company is headquartered in The Woodlands
The Woodlands, Texas
The Woodlands is a master-planned community and a Census-designated place in the U.S. state of Texas within the metropolitan area. The population of the CDP was 55,649 at the 2000 census—a 90 percent increase over its 1990 population. According to the 2010 census, The Woodlands' population rose...

, SPD
Special-purpose district
Special-purpose districts or special district governments in the United States are independent governmental units that exist separately from, and with substantial administrative and fiscal independence from, general purpose local governments such as county, municipal, and township governments. As...

 Montgomery County
Montgomery County, Texas
Montgomery County is a county located in the U.S. state of Texas within the Houston–Sugar Land–Baytown metropolitan area. The county was created by an act of the Congress of the Republic of Texas on December 14, 1837. The county was named for the town of Montgomery, Texas. In 2000, its...

, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...

.

History

Anadarko, historically a subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...

 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
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...

 in the Anadarko Basin
Anadarko Basin
The Anadarko Basin is a geologic depositional and structural basin centered in the western part of the state of Oklahoma and the Texas Panhandle, and extending into western Kansas and southeast Colorado.-Geology:...

 (the basin
Depression (geology)
A depression in geology is a landform sunken or depressed below the surrounding area. Depressions may be formed by various mechanisms.Structural or tectonic related:...

 comprises the Texas
Texas Panhandle
The Texas Panhandle is a region of the U.S. state of Texas consisting of the northernmost 26 counties in the state. The panhandle is a rectangular area bordered by New Mexico to the west and Oklahoma to the north and east...

 and Oklahoma
Oklahoma Panhandle
The Oklahoma Panhandle is the extreme western region of the state of Oklahoma, comprising Cimarron County, Texas County, and Beaver County. Its name comes from the similarity of shape to the handle of a cooking pan....

 panhandle
Panhandle
A panhandle is an informal geographic term for an elongated arm-like protrusion of a geo-political entity, such as a subnational entity or a sovereign state.-Term:...

s, and southwest Kansas
Kansas
Kansas is a US state located in the Midwestern United States. It is named after the Kansas River which flows through it, which in turn was named after the Kansa Native American tribe, which inhabited the area. The tribe's name is often said to mean "people of the wind" or "people of the south...

), thus the company's name. Anadarko spun off from Panhandle Eastern
Panhandle Eastern
Panhandle Eastern Pipe Line Company, LP is a natural gas pipeline which brings natural gas from the panhandle region of Oklahoma east through the Midwest to supply Indiana and Ohio. It is owned by Panhandle Energy - Southern Union Gas Company. The company is headquartered in Houston, Texas, United...

 as an independent corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...

 in 1986 and now has activities in more than a dozen countries. The United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

, deepwater Gulf of Mexico
Gulf of Mexico
The Gulf of Mexico is a partially landlocked ocean basin largely surrounded by the North American continent and the island of Cuba. It is bounded on the northeast, north and northwest by the Gulf Coast of the United States, on the southwest and south by Mexico, and on the southeast by Cuba. In...

 and Algeria
Algeria
Algeria , officially the People's Democratic Republic of Algeria , also formally referred to as the Democratic and Popular Republic of Algeria, is a country in the Maghreb region of Northwest Africa with Algiers as its capital.In terms of land area, it is the largest country in Africa and the Arab...

 represent the majority of the company's proved reserves and production; U.S. onshore accounts for about 60%.

Deepwater Horizon Oil spill involvement

Anadarko had 25 percent working interest in the Macondo Prospect
Macondo Prospect
The Macondo Prospect is an oil and gas prospect in the United States Exclusive Economic Zone of the Gulf of Mexico, off the coast of Louisiana...

, which was operated by BP
BP
BP p.l.c. is a global oil and gas company headquartered in London, United Kingdom. It is the third-largest energy company and fourth-largest company in the world measured by revenues and one of the six oil and gas "supermajors"...

 and its finances were affected by the Deepwater Horizon oil spill
Deepwater Horizon oil spill
The Deepwater Horizon oil spill is an oil spill in the Gulf of Mexico which flowed unabated for three months in 2010, and continues to leak fresh oil. It is the largest accidental marine oil spill in the history of the petroleum industry...

.

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 that it will not pay for costs associated with the oil disaster, claiming in a statement that BP was guilty of gross negligence
Gross negligence
Gross negligence is a legal concept which means serious carelessness. Negligence is the opposite of diligence, or being careful. The standard of ordinary negligence is what conduct one expects from the proverbial "reasonable person"...

 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.

In what was seen as possibly a precursor to Anadarko's own course, in May 2011 MOEX Offshore agreed to pay US$1.07 billion to settle BP claims against it over the accident. MOEX owned a 10% stake in the well through a subsidiary and in turn itself was majority-owned by Mitsui & Co.
Mitsui & Co.
Mitsui & Co., also known as Mitsui Bussan, is one of the largest sogo shosha in Japan, and also part of the Mitsui Group. Its business area covers energy, machinery, chemicals, food, textile, logistics, finance, and more.- History :...

  Some analysts had thought BP would realize a larger settlement from MOEX but there was also relief to have a first step toward resolving the multiple claims. In October, 2011, Anadarko did in fact follow MOEX and agreed to settle with BP for $4 billion. BP agreed to "forgo reimbursement for future costs related to the incident and will indemnify Anadarko for damage claims arising under the U.S. Oil Pollution Act
Oil Pollution Act of 1990
The Oil Pollution Act was passed by the 101st United States Congress, and signed by President George H. W. Bush, to mitigate and prevent civil liability for future oil spills off the coast of the United States....

, among other costs. And Anadarko will transfer its 25% stake in Mississippi Canyon Block 252 (Macondo) to BP."

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
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...

, Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...

, Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...

, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...

, Mozambique
Mozambique
Mozambique, officially the Republic of Mozambique , is a country in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi and Zambia to the northwest, Zimbabwe to the west and Swaziland and South Africa to the southwest...

 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.

Other productions

In addition, Anadarko engages in the hard minerals business through non-operated joint ventures and royalty arrangements in several coal
Coal
Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...

, trona
Trona
Trona ; Na3•2H2O is an evaporite mineral. It is mined as the primary source of sodium carbonate in the United States, where it has replaced the Solvay process used in most of the rest of the world for sodium carbonate production.- Etymology :The word "trona" comes to English by way of either...

 (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 acres (32,374.9 km²) strip running through portions of Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...

, Wyoming
Wyoming
Wyoming is a state in the mountain region of the Western United States. The western two thirds of the state is covered mostly with the mountain ranges and rangelands in the foothills of the Eastern Rocky Mountains, while the eastern third of the state is high elevation prairie known as the High...

 and Utah
Utah
Utah is a state in the Western United States. It was the 45th state to join the Union, on January 4, 1896. Approximately 80% of Utah's 2,763,885 people live along the Wasatch Front, centering on Salt Lake City. This leaves vast expanses of the state nearly uninhabited, making the population the...

 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
Carbon dioxide
Carbon dioxide is a naturally occurring chemical compound composed of two oxygen atoms covalently bonded to a single carbon atom...

 (CO2) to stimulate oil production and the reduction of surface area used for production facilities.

Headquarters

Anadarko Petroleum Corporation is headquartered in the Anadarko Tower
Anadarko Tower
Anadarko Tower, is a 30-story, skyscraper located in The Woodlands, Texas. It is currently the tallestbuilding in Montgomery County, Texas and the tallest building between Houston and Dallas. It also was the first office complex in The Woodlands, Texas to achieve LEED® certification by the U.S...

 in The Woodlands, Texas
The Woodlands, Texas
The Woodlands is a master-planned community and a Census-designated place in the U.S. state of Texas within the metropolitan area. The population of the CDP was 55,649 at the 2000 census—a 90 percent increase over its 1990 population. According to the 2010 census, The Woodlands' population rose...

. On February 11, 1999 Anadarko announced that it would purchase a 7.5 acres (30,351.5 m²) tract in The Woodlands, Montgomery County
Montgomery County, Texas
Montgomery County is a county located in the U.S. state of Texas within the Houston–Sugar Land–Baytown metropolitan area. The county was created by an act of the Congress of the Republic of Texas on December 14, 1837. The county was named for the town of Montgomery, Texas. In 2000, its...

 from the Woodlands Land Company. There Anadarko planned to build an 800000 square feet (74,322.4 m²), 32-story headquarters building. Anadarko opened the headquarters in mid-2002.

The company previously occupied the 17001 Northchase Drive in the Greenspoint district and in Houston. The tower, which was previously known as the Anadarko Tower, was built in a two-year period and completed in December 1992.

Public relations

On 8 November 2011, CNBC
CNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...

 broke a story where Matt Carmichael, the manager of external affairs, advised others in the energy industry at a conference to
joining other energy executives in talking about the use of mil­i­tary tac­tics to counter drilling oppo­nents in local townships. According to environmental activists, such a suggestion would be part of "an already estab­lished pat­tern of try­ing to con­trol the mes­sage that gas drilling is safe". Sharon Wilson, the recorder of the remarks, said "the comments reveal what the fracking industry thinks about people in the communities that are impacted by the industry."

External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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