Anadarko Petroleum Corporation

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Anadarko Petroleum Corporation (2010)





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.

See: Cliford Kraus. (2008). New York Times. "There’s Gas in Those Hills".

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).

See: Deepwater Horizon Committee Hears From Oil Industry Executives

BP’s partners in the Macondo well–Anadarko Petroleum and Mitsui–have so far refused to pay any costs for the spill, claiming that BP’s gross negligence means it is 100% liable.

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.