Anadarko Provides Parental Guarantee on Kerr-McGee Bonds
Anadarko Petroleum Corporation (NYSE:APC) has provided a parental guarantee on the indentures assumed in conjunction with its acquisition of Kerr-McGee Corporation on Aug. 10, 2006. This guarantee will apply to the Kerr-McGee 6.625% notes due 2007, 6.875% notes due 2011, 6.95% notes due 2024, 7.125% debentures due 2027, and 7.875% notes due 2031. For further information regarding the terms and conditions of this guarantee, interested persons should review the Current Report on Form 8-K to be filed by Anadarko in the near future.
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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