Anadarko Announces Shenandoah Appraisal Well Encounters More Than 1,000 Net Feet of Oil Pay

Anadarko Announces Shenandoah Appraisal Well Encounters More Than 1,000 Net 
Feet of Oil Pay 
HOUSTON, TX -- (Marketwire) -- 03/19/13 --  Anadarko Petroleum
Corporation (NYSE: APC) today announced its Shenandoah-2 well in the
deepwater Gulf of Mexico encountered more than 1,000 net feet of oil
pay in multiple high-quality Lower Tertiary-aged reservoirs.  
"The successful Shenandoah-2 well marks one of Anadarko's largest oil
discoveries in the Gulf of Mexico, with more than 1,000 net feet of
oil pay and reservoir rock and fluid properties of much higher
quality than previously encountered by industry in Lower Tertiary
discoveries," said Bob Daniels, Anadarko Sr. Vice President Deepwater
and International Exploration. "With ownership in the successful
Shenandoah wells, the adjacent Yucatan prospect, and the very
encouraging results from the nearby Coronado well, Anadarko is
strategically positioned in the Shenandoah Basin, which has the
potential to become one of the most prolific new areas in the
deepwater Gulf of Mexico." 
The Shenandoah-2 well, located in Walker Ridge block 51, was drilled
to a total depth of 31,405 feet in approximately 5,800 feet of water,
more than 1 mile southwest and approximately 1,700 feet structurally
down-dip from the Shenandoah-1 discovery. Similar to the initial
Shenandoah discovery well, log and pressure data from the
Shenandoah-2 well indicate excellent-quality reservoir and fluid
properties. The well was drilled to test the down-dip extent of the
accumulation, and the targeted sands were full to base with no
oil-water contact. 
"We are incorporating the information obtained from Shenandoah-2 into
our planning and anticipate further appraisal drilling to advance
this potentially giant project," Daniels added. 
Anadarko is the operator of the Shenandoah-2 well and the previously
announced Shenandoah-1 discovery well, located in Walker Ridge block
52, with a 30-percent working interest. Other co-owners in Shenandoah
are ConocoPhillips (NYSE: COP) with a 30-percent working interest,
Cobalt International Energy L.P. (NYSE: CIE) with a 20-percent
working interest, Venari Resources LLC with a 10-percent working
interest and Marathon Oil Company (NYSE: MRO) with a 10-percent
working interest.  
dditionally, in the Shenandoah Basin, Anadarko has a 15-percent
working interest in both the Coronado well, located in Walker Ridge
block 98, and the Yucatan prospect, located in Walker Ridge block 95. 
A map of the Shenandoah Basin in the deepwater Gulf of Mexico will be
available under the "Media Center/Anadarko News" tab at 
Anadarko Petroleum Corporation's mission is to deliver a competitive
and sustainable rate of return to shareholders by exploring for,
acquiring and developing oil and natural gas resources vital to the
world's health and welfare. As of year-end 2012, the company had
approximately 2.56 billion barrels-equivalent of proved reserves,
making it one of the world's largest independent exploration and
production companies. For more information about Anadarko and APC
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This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Anadarko believes that its
expectations are based on reasonable assumptions. No assurance,
however, can be given that such expectations will prove to have been
correct. A number of factors could cause actual results to differ
materially from the projections, anticipated results or other
expectations expressed in this news release, including Anadarko's
ability to successfully drill, complete, test and produce the wells
and prospects identified in this news release. See "Risk Factors" in
the company's 2012 Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and other public filings and press releases. Anadarko
undertakes no obligation to publicly update or revise any
forward-looking statements.  
Attachment Available: 
Anadarko Contacts 
John Christiansen
Brian Cain
Christina Ramirez
John Colglazier
Brian Kuck
Bill Tedesco
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