“The Best Little Oil House in Texas:” Fortune magazine features Anadarko

Petroleum News Alaska Staff

Anadarko Petroleum Corp. is featured in the latest edition of Fortune magazine. The article, titled “The Best Little Oil House in Texas,” notes the fact that in the last year with its purchases of Union Pacific Resources, Berkley, Petroleum and GulfStream, Anadarko has become the world’s largest independent oil and gas company.

In its April edition, the magazine ranked Anadarko Petroleum Corp. 22 on its annual list of the 100 fastest-growing companies. The Houston-based independent placed 314 on Fortune’s list of America’s 500 largest corporations.

“Wall Street has taken note,” Fortune writer Katrina Brooker said: “More analysts now cover Anadarko than GE.”

One secret to the company’s success, Brooker wrote, is that “it digs where others desert. … Anadarko is arguably the most aggressive, most experimental, and most daring oil and gas-exploration company in the world. Using cutting-edge technology and exploration techniques, the firm has built its reputation and its business hunting down oil and natural gas in places peers have either abandoned or avoided.”

Anadarko’s exploration and development projects in the Gulf of Mexico, Algeria, East Texas and Alaska’s Alpine field were listed as examples of the company’s adventuresome spirit.

Anadarko produces “570,000 barrels of oil and gas a day, rivaling both Unocal and Texaco,” Brooker wrote.

And the company “plans to boost production by more than 10 percent a year over the next three years,” she said.