s & p 500 component traded as nyse apc industry petroleum industry founded 1959 headquarters allison tower the woodlands texas u.s. key people r. a. walker chairman president & ceo robert g. gwin executive vice president & cfo 1 products petroleum natural gas and natural gas liquids production output 836 thousand barrels of oil equivalent 5 110 000 gj per day 1 revenue us 8.698 billion operating income us 8.809 billion 2015 1 net income us 6.812 million 2015 1 total assets us 46.414 billion 2015 1 total equity us 15.457 billion 2015 1 number of employees 5 800 2015 1 website anadarko.com allison tower the headquarters of anadarko petroleum company . anadarko petroleum corporation is an american petroleum and natural gas exploration and production company headquartered in the woodlands texas . 2 the company is headquartered in two skyscrapers in the woodlands texas the allison tower and the hackett tower both named after former ceos of the company . the buildings were completed in 2014 . 3 the company has been the subject of multiple environmental cases including the largest environmental contamination settlement in american history the 2014 settlement related to the former tronox subsidiary of kerr mcgee a company purchased by anadarko in 2006 . 4 4 contents 1 current operations 1.1 united states 1.2 international operations 2 history 3 environmental record 3.1 deepwater horizon oil spill involvement 3.1.1 settlement with bp 3.1.2 fine under the clean water act 3.2 tronox litigation and settlements 3.2.1 lawsuit from tronox shareholders 3.2.2 lawsuit from the environmental protection agency and department of justice 4 references 5 external links current operations edit in addition to exploration and production the company engages in the gathering processing and treating of natural gas and the transporting of natural gas crude oil and natural gas liquids . the company also participates in the hard minerals business through its ownership of non operated joint ventures and royalty arrangements . 1 as of december 31 2015 the company had approximately 2.06 billion barrels of oil equivalent 1.26 1010 gj of proved reserves 52 % of which were liquids and 48 % of which were natural gas . in the fourth quarter of 2015 the company produced 836 thousand barrels of oil equivalent 5 110 000 gj per day . 1 united states edit the company s operations in the united states accounted for 89 % of total sales volumes during 2015 and 90 % of total proved reserves at year end 2015 . 1 in the united states the company has major holdings in the rocky mountains wattenberg gas field approximately 5 000 vertical wells and 1 000 horizontal wells 1 laramie county wyoming denver julesburg basin more than 100 000 mineral interest acres 1 greater natural buttes utah approximately 2 900 wells 1 powder river basin over 325 000 acres of deep mineral rights 1 greater green river basin 1 southern and appalachia region delaware basin over 600 000 gross acres 1 eagle ford 346 000 gross acres and over 1 300 producing wells 1 eaglebine austin chalk 156 000 gross acres 1 east texas north louisiana 223 000 gross acres 1 marcellus shale 625 000 gross acres 1 gulf of mexico average working interest of 60 % in 279 blocks alaska north slope international operations edit the company s international operations accounted for 11 % of total sales volumes during 2015 and 10 % of total proved reserves at year end 2015 . 1 the company has holdings in algeria sahara desert blocks 404 and 208 1 ghana offshore in the west cape three points block and the deepwater tano block 1 mozambique offshore area 1 1 colombia 9 blocks totaling approximately 16 million gross acres 1 c te d ivoire 4 offshore blocks totaling approximately 1.0 million gross acres 1 new zealand 4 blocks totaling approximately 42 million gross acres 1 kenya 45 % working interest in 3 offshore deepwater blocks encompassing approximately 3.7 million gross acres 1 brazil approximately 300 000 gross acres in 2 offshore blocks 1 history edit anadarko was formed in 1959 as a subsidiary of panhandle eastern corporation pipe line company after the discovery of large amounts of natural gas in the anadarko basin which underlies the texas panhandle and oklahoma panhandle and southwest kansas . in 1986 panhandle eastern corporation distributed its interests in anadarko to its shareholders via a corporate spin off in 1986 . 5 in 1999 the company announced that it would purchase a 7.5 acre 30 000 m2 tract in the woodlands montgomery county texas from the woodlands land company and build an 800 000 square foot 74 000 m2 32 story headquarters building on the site . 6 in 2012 the company announced that it would construct another office tower adjacent to its headquarters . 7 the company announced that it will name its two office towers after former ceos . 8 in 2000 the company acquired union pacific resources in a 4.4 billion transaction . 9 10 in 2001 the company acquired berkeley petroleum corporation for c 1.2 billion plus the assumption of c 400 million in debt . 11 in 2003 the company announced that robert j. allison jr. was resigning as chief executive officer and would be replaced by james t. hackett previously the chief operating officer of devon energy . 12 in 2006 the company completed the acquisition of kerr mcgee for 16 billion in cash . 13 14 in 2006 the company also purchased western gas resources in a 5.3 billion cash transaction . 15 in 2007 the company sold assets in oklahoma and texas for 860 million . 16 in 2012 the company announced a major natural gas find offshore mozambique . 17 in 2015 the company made an offer to acquire apache corporation but the offer was rejected . 18 in 2016 the company sold its interest in the springfield oil and gas gathering system near the eagle ford shale for 750 million to western gas partners . 19 in march 2016 the company announced layoffs affecting 1 000 employees or 17 % of its staff . the layoffs were the result of weak commodity prices . 20 in 2016 the company cut its quarterly dividend from 27 cents per share to 5 cents per share . 21 environmental record edit deepwater horizon oil spill involvement edit main article deepwater horizon drilling rig explosion anadarko owned a 25 % non operating minority interest in the macondo prospect which was owned 65 % by and operated by bp and was affected by the deepwater horizon oil spill . 22 settlement with bp edit in early 2010 bp billed anadarko more than 272 million as a partial payment for its share of cleanup and response costs in the gulf according to a bill that was sent by bp and obtained by talking points memo . anadarko publicly suggested that it will not pay for costs associated with the oil disaster claiming in a statement that bp was guilty of gross negligence or willful misconduct . under the joint operating agreement anadarko was required to pay its 25 % share of costs related to any incident unless that incident was caused by its partner s gross negligence or willful misconduct . 23 in may 2011 moex offshore a subsidiary of mitsui and owner of a 10 % non operating ownership interest in the macondo prospect settled claims with bp for 1.07 billion . 24 in october 2011 anadarko settled all claims with bp for 4 billion . anadarko also transferred its 25 % stake in mississippi canyon block 252 macondo prospect to bp and was indemnified by bp for all costs related to the oil spill including those arising under the oil pollution act of 1990 . 25 26 fine under the clean water act edit in december 2015 u.s. district judge carl barbier ordered anadarko to pay a civil fine under the clean water act of 159.5 million or 50 per barrel of oil spilled as a result of the deepwater horizon drilling rig explosion . 22 the judge stated anadarko was not at fault for the spill but the company s 25 % ownership stake made it responsible . barbier wrote that the 159.5 million fine strikes the appropriate balance between anadarko s lack of culpability and the extreme seriousness of this spill . 22 the fine came after bp and anadarko had unsuccessfully appealed to the u.s. supreme court to reject judge carl barbier s finding of negligence in the deepwater horizon accident . 27 tronox litigation and settlements edit in april 2014 anadarko settled with the u.s. department of justice and the environmental protection agency to pay 5.15 billion to clean up environmental waste sites around the country . it was the largest environmental contamination settlement in american history . 28 the environmental contamination sites were inherited by anadarko after it purchased kerr mcgee in 2005 . as background kerr mcgee had spun off its tronox subsidiary to offload 70 years of environmental dumping of toxic waste across 22 states beginning in the 1920s . the environmental damages included polluting lake mead in nevada with rocket fuel leaving behind radioactive waste piles throughout the territory of the navajo nation and dumping carcinogenic creosote in communities throughout the east midwest and south at its wood treating facilities . 4 according to one report kerr mcgee rather than pay for the environmental mess it created decided to shift the liabilities between 2002 and 2006 into tronox . kerr mcgee meanwhile kept its valuable oil and gas assets . 4 anadarko then purchased the clean portion of kerr mcgee free of its legacy of environmental dumping . lawsuit from tronox shareholders edit in 2009 shareholders of tronox sued anadarko as successor to kerr mcgee for having misled investors about the large environmental and other debts tronox would inherit from kerr mcgee . 29 30 lawsuit from the environmental protection agency and department of justice edit the u.s. department of justice on behalf of the environmental protection agency sued anadarko for 25 billion . 31 in april 2014 the u.s. department of justice on behalf of the environmental protection agency reached a 5.15 billion settlement with anadarko in the largest environmental contamination settlement in american history . 28 4 references edit a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac anadarko petroleum corporation 2015 form 10 k annual report anadarko petroleum office locations anadarko towers symbolize business growth in the woodlands . chron . june 25 2013 . a b c d e eric tucker april 3 2014 . us reaches 5.15 billion environmental settlement . associated press . retrieved april 3 2014 . panhandle plans anadarko spinoff . new york times . august 21 1986 . anadarko to build new headquarters in the woodlands press release . prnewswire . february 9 1999 . anadarko building new office tower . houston business journal . january 19 2012 . deal of the week anadarko towers carry names of two past ceos . houston chronicle . june 22 2013 . anadarko to merge with union pacific resources group press release . prnewswire . april 4 2000 . anadarko to buy union pacific resources . new york times . april 4 2000 . anadarko completes berkley acquisition press release . business wire . march 19 2001 . anadarko names james t. hackett president and ceo press release . business wire . december 3 2003 . anadarko completes kerr mcgee acquisition ; combination creates leading positions in two of north america s most prolific producing regions ; portfolio to be optimized through asset sales press release . business wire . august 10 2006 . anadarko acquires kerr mcgee western gas resources in deals totaling about 20b . associated press . june 23 2006 . western gas resources inc. agrees to be acquired by anadarko