Anadarko is among the largest independent oil and natural gas exploration and production companies in the world, with approximately 2.3 billion barrels of oil equivalent (BBOE) of proved reserves at year-end 2009.
Andarko, BP, and Transocean have each blamed the other for responsibility in the The Deepwater Horizon oil spill (also referred to as the BP oil spill, the Gulf of Mexico oil spill, the BP oil disaster or the Macondo blowout).
If investigations exonerate BP, those companies will be liable for billions of dollars. There are particular doubts over whether Anadarko could afford to pay its full share.
The company’s credit rating was cut to junk level in June.