HOUSTON, March 29 /PRNewswire/ -- Anadarko Petroleum Corporation
(NYSE: APC) announced today that it was the apparent high bidder on 23 tracts
in the March 28 Gulf of Mexico Lease Sale 178.
The company submitted winning bids representing a total investment of
approximately $32 million. The 23 tracts cover 120,000 acres with seven
blocks located on the Outer Continental Shelf and the remaining 16 in deep
water.
"We are very pleased with these results," said Robert J. Allison, Jr.,
Chairman and Chief Executive Officer of Anadarko Petroleum. "Anadarko is
already a large producer in the Gulf of Mexico, and our success with this
lease sale adds to our already significant holdings -- particularly the sub-
salt play in deep water."
Anadarko currently holds a total of 335 leases in the Gulf, 58 are located
in its deep water program and 150 blocks are situated in its sub-salt program.
Houston-based Anadarko Petroleum Corporation is the world's largest
independent E&P company, with proved reserves of more than 2 billion barrels
of oil equivalent. Domestically, it has operations in Texas, Louisiana, the
Mid-Continent and Rocky Mountain regions, Alaska and in the shallow and deep
waters of the Gulf of Mexico. Anadarko is one of the most active drillers in
North America. Internationally Anadarko is active in Canada, Algeria,
Tunisia, West Africa, Guatemala, Venezuela, Georgia and the North Atlantic.
This news release contains forward-looking statements and projections made
in reliance of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Anadarko believes that these forward-looking statements
are based on current, reasonable and complete information and assumptions.
However, a number of factors could cause actual results to differ materially
from the projections, anticipated results or other expectations expressed in
this release. While Anadarko makes these forward-looking statements in good
faith, neither Anadarko nor its management can guarantee that the anticipated
future results will be achieved. Reference should be made to Anadarko's
Securities and Exchange Commission filings for additional important factors
that may affect actual results, including the section entitled "Additional
Factors Affecting Business" in the Management's Discussion and Analysis (MD&A)
included in the company's 2000 Annual Report on Form 10-K.
SOURCE Anadarko Petroleum Corporation
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http://www.anadarko.com
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800-758-5804, ext. 038950
CONTACT:
media, Teresa Wong, 281-873-1203, or Lee
Warren, 281-874-3321, or investors, Paul Taylor, 281-874-3471, or
David Larson, 281-874-3265, all of Anadarko Petroleum Corporation
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