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Houston-based Anadarko Petroleum Corporation is one of the world's largest independent exploration and production companies with 991 million energy equivalent barrels of proved reserves. Once primarily involved in the search for natural gas, Anadarko has undergone a dramatic transformation over the last 14 years. In 1986, more than 90% of the Company's proved reserves were natural gas. Today, crude oil now accounts for 58% of total reserves, the result of major oil discoveries in Algeria, the Gulf of Mexico and Alaska. The Company's total reserves and production have tripled since 1986.
The Company's domestic operations are focused in Kansas, Oklahoma, Texas, the Gulf of Mexico and Alaska, with international projects underway in Algeria, the North Atlantic Margin and Tunisia. These are the core areas of Anadarko's operations.
Anadarko believes reserve replacement and finding costs are key to growth and profitability. Every year since 1981, the Company has more than replaced its annual production volumes with new reserves -- a record that is unmatched in the industry. What's more, Anadarko has done so at finding costs that are consistently below industry averages.
A proven four-part strategy of Exploration, Development, Acquisitions/Property Sales and Marketing is the guiding force behind Anadarko's operations. In carrying out this strategy, the Company maintains a clear focus on environmental, health and safety issues to ensure resource development with minimal risk.
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