Anadarko Issues $5.5 Billion in Senior Notes

Anadarko Petroleum Corporation (NYSE:APC) has completed the offering of $5.5 billion of new-issue senior notes, consisting of the following:

--$2.0 billion of senior floating-rate notes due 2009, priced to yield 0.40 percentage point over the three-month London interbank offered rate;

--$1.75 billion of senior fixed-rate notes due 2016, with a coupon of 5.95 percent; and

--$1.75 billion of senior fixed-rate notes due 2036, with a coupon of 6.45 percent.

Net proceeds from the offering will be used to repay borrowings under Anadarko's 364-day term loan agreement, which were used to finance the company's acquisitions of Kerr-McGee Corporation and Western Gas Resources, Inc. The bonds are expected to settle on Sept. 19, 2006.

Credit Suisse, UBS Investment Bank, Citigroup and Goldman, Sachs & Co. acted as joint book-running managers for the offering. The offering was made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from Credit Suisse, One Madison Avenue, Level 1B, New York, NY 10010, 212-325-2580; UBS Securities LLC, Attention: Fixed Income Syndicate, 677 Washington Blvd, Stamford, CT 06901, 888-722-9555 ext. 1088; Citigroup Global Markets Inc. at Brooklyn Army Terminal, 140 58th Street, 8th floor, Brooklyn, N.Y. 11220, phone: 718-765-6732, fax: 718-765-6734; or Goldman, Sachs & Co., Attn: Prospectus Dept., 85 Broad Street, New York, NY 10004, Fax: 212-902-9316 or email at An electronic copy of the prospectus and prospectus supplement is available from the Securities and Exchange Commission's website at

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.

Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world's health and welfare. As of year-end 2005, the company had 2.45 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. In August 2006, Anadarko acquired Kerr-McGee Corporation and Western Gas Resources, Inc. in separate transactions.


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