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Anadarko Petroleum Corporation is an oil and natural gas exploration and production company headquartered in The Woodlands, Texas. Anadarko is one of the largest independent oil and natural gas companies in the world. It focuses on the exploration, development, production and marketing of oil, natural gas and natural gas liquids.
Although Anadarko wasn’t incorporated until 1985, the company was actually founded in 1959 as a wholly-owned subsidiary of Panhandle Eastern Pipe Line Company. It was created in response to a federal law that put a lower price limit on gas produced by properties owned by pipeline companies than gas produced by independent companies. In order to get around the law and be able to charge market value for the gas it produced, Panhandle created Anadarko Production Company and transferred its undeveloped properties to the new subsidiary.
Anadarko was named after the Anadarko basin, which is where the company started its operations. The company grew quickly and contributed a significant amount to Panhandle’s revenue. In fact, Anadarko was doing so well that Panhandle decided to spin off the company in the mid-1980s to prevent a takeover attempt, and so that the company could realize its true stock value. Although Anadarko had expanded its operations into Canada and the Gulf of Mexico before being spun off in 1985, the company increased its international operations after being incorporated. Today the company has significant assets in the United States and around the world, including in: Brazil, China, Kenya, Liberia and many other countries. Anadarko is also the largest foreign oil producer in Algeria and one of the largest independent producers in the Gulf of Mexico.
Anadarko is organized into three different segments: Upstream, Midstream and Marketing. Of the three, the Upstream segment accounts for the largest percentage of the company’s revenue. It is responsible for the exploration and production of oil, natural gas and natural gas liquids. Domestically, this segment’s operations are focused in Colorado, Pennsylvania, Texas, Utah, Wyoming and the Gulf of Mexico. Internationally, the segment has operations in Africa, South America and New Zealand. The Upstream segment is also in charge of the development and operation of Anadarko’s liquefied natural gas project in Mozambique. The company’s Midstream segment is responsible for gathering, processing, treating and transporting oil, natural gas and natural gas liquids for its own production as well as third-party production. Finally, the company’s Marketing segment sells its oil, natural gas and natural gas liquids, as well as its third-party purchased volumes.
With the price of oil in a low period, Anadarko has had to shift some of its strategy to stay successful. Instead of chasing growth in a lower-return environment, Anadarko focuses its investment on longer-dated projects in order to maintain and build value, while practicing cost savings and efficiencies in all areas of business. This includes divesting shorter-term investments or putting them on pause until service costs lower and are more in line with potential returns.
The company has also concentrated on expanding production on its existing fields in the Rockies, with horizontal drilling, infill drilling and downspacing operations. These techniques allow the company to drill more wells in the same amount of acreage, getting more return from the same initial land investment. Additionally, Anadarko remains focused on its portfolio of primarily unconventional resources, which gives the company stable, predictable and cost-efficient development opportunities. With exploration, the company focuses its efforts on high-potential, proven and emerging basins around the world.
Sustainability is an important part of Anadarko’s business model. As such, the company is constantly looking for innovative ways to reduce its impact on the environment and the communities in which it operates.
In Colorado, Anadarko has advanced its development on a tankless battery. Advancements in battery technology have allowed the company to reduce the number of tank batteries required to only one tank for most wells, whereas four-tank batteries were previously required. This reduction has drastically cut down on the company’s surface area use. In addition, facility design improvements have decreased the amount of trucks needed for liquid transfer. In some production areas, these improvements have reduced truck traffic by almost 75 percent.
For its Gulf of Mexico operations, Anadarko has begun to use garnet instead of sand in its blasting activities. Unlike sand, garnet can be recycled a minimum of five times, whereas sand must be disposed of after one use. Using garnet instead of sand also significantly reduces dust emissions. In its Wattenberg field operations, Anadarko has begun to use electric drilling rigs to reduce the light and noise of traditional drilling. In addition, the company has partnered with local utility companies to use innovative engineering techniques to connect to a high-voltage power line, saving it money on generator fuel and maintenance. Although they are just a small sample, these improvements illustrate Anadarko’s commitment to sustainability.
1201 Lake Robbins Drive
The Woodlands, Texas 77380