Anadarko Announces Phobos Discovery in the Deepwater Gulf of Mexico

Anadarko Announces Phobos Discovery in the Deepwater Gulf of Mexico 
HOUSTON, TX -- (Marketwired) -- 04/25/13 --  Anadarko Petroleum
Corporation (NYSE: APC) today announced its Phobos-1 well in the
deepwater Gulf of Mexico encountered approximately 250 net feet of
high-quality oil pay in Lower Tertiary-aged reservoirs.  
"Our 2013 Gulf of Mexico exploration program is off to an outstanding
start, as Phobos marks our third significant deepwater success this
year," Anadarko Sr. Vice President International and Deepwater
Exploration Bob Daniels said. "Phobos is our first well in the
previously untested Sigsbee Escarpment area of the Gulf of Mexico and
successfully tested a significant four-way structure in the Lower
Tertiary. Phobos' close proximity to our Lucius project is expected
to further enhance the economics of this potential future
development." 
The Phobos discovery, located in Sigsbee Escarpment block 39, was
drilled to a total depth of 28,675 feet in approximately 8,500 feet
of water, approximately 11 miles south of Anadarko's Lucius
discovery, which is under development. Anadarko currently is
incorporating the data from the Phobos well to determine future
activities. 
Anadarko is the operator of the Phobos discovery with a 30-percent
working interest. Other co-owners in Phobos are Plains Exploration &
Production Company (NYSE: PXP) with a 50-percent working interest and
Exxon Mobil Corporation (NYSE: XOM) with a 20-percent working
interest. 
A map of the Phobos discovery in the deepwater Gulf of Mexico will be
available under the "Media Center/Anadarko News" tab at
www.anadarko.com. 
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
Flash Feed updates, please visit www.anadarko.com. 
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Sec
tion 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.  
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Anadarko Contacts 
Media:
John Christiansen
john.christiansen@anadarko.com
832.636.8736 
Brian Cain
brian.cain@anadarko.com
832.636.3404 
Christina Ramirez
christina.ramirez@anadarko.com
832.636.8687 
Investors:
John Colglazier
john.colglazier@anadarko.com
832.636.2306 
Brian Kuck
brian.kuck@anadarko.com
832.636.1397 
Bill Tedesco
william.tedesco@anadarko.com
832.636.3375