Anadarko announces First-Quarter 2013 Results

THE WOODLANDS, Texas -- Anadarko Petroleum Corporation (NYSE: APC) today announced first-quarter 2013 net income attributable to common stockholders of $460 million, or $0.91 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items decreased net income by approximately $87 million, or $0.17 per share (diluted), on an after-tax basis.(1) Cash flow from operating activities in the first quarter of 2013 was approximately $2.503 billion, and discretionary cash flow totaled $2.056 billion.(2)

First-Quarter 2013 Highlights

• Achieved record daily sales volumes of 793,000 barrels of oil equivalent (BOE)

• Monetized assets totaling more than $1.2 billion

• Initiated oil production at the El Merk project in Algeria

• Delivered outstanding deepwater success in the Gulf of Mexico's Shenandoah Basin

"The record first-quarter 2013 results reflect our commitment to accelerate value by increasing production in our core operating areas, selectively monetizing assets and delivering large-scale projects on budget," said Anadarko President and CEO Al Walker. "We achieved a 16-percent year-over-year increase in oil sales volumes, primarily driven by 25,000 barrels-per-day growth from our U.S. onshore assets, plus the benefit of an accelerated tanker lifting at Jubilee. In addition, we monetized more than $1.2 billion of assets, including the $860 million carried-interest agreement at Heidelberg, and achieved first oil at our El Merk development in Algeria. I'm also very proud of our very active global deepwater exploration program that continues to deliver industry-leading success and differentiating value."

For more detailed First Quarter results visit Anadarko.com.