Anadarko Announces Wattenberg Property Exchange

Anadarko Announces Wattenberg Property Exchange 
Unlocking Value on Operated Liquids-Rich Acreage Position 
HOUSTON, TX -- (Marketwired) -- 10/21/13 --  Anadarko Petroleum
Corporation (NYSE: APC) today announced the closing of a property
exchange with Noble Energy, Inc. (NYSE: NBL) in the Wattenberg field
of northeastern Colorado, effective Jan. 1, 2013. 
"This Wattenberg trade unlocks significant additional value for both
Anadarko and Noble Energy by consolidating operated acreage
positions, which enables more efficient development planning and
infrastructure utilization," said Chuck Meloy, Anadarko Executive
Vice President, U.S. Onshore Exploration and Production. "The trade
is expected to achieve greater operating efficiencies, reduce costs
and local impacts, and further improve safety performance. This
exchange also demonstrates Anadarko's active portfolio management and
commitment to accelerating cash generation, as we anticipate
increasing activity on our core Wattenberg acreage, where we are
generating rates of return that exceed 100 percent." 
Under the terms of the trade, each party will exchange approximately
50,000 net acres. For Anadarko, this acreage exchange will enhance
its core development area, while retaining the benefits of its Land
Grant mineral ownership on approximately 21,000 acres of the lands to
be conveyed to Noble. The trade also will increase Anadarko's daily
production by approximately 8,000 barrels of oil equivalent based on
current production levels. The trade is subject to customary
post-closing adjustments.  
Maps illustrating the Wattenberg acreage positions of Anadarko and
Noble both pre- and post-closing are attached to this news release
and available on Anadarko's website 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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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 drill, develop, commercially operate, and accelerate the
drilling projects 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 
John Christiansen
Brian Cain
Christina Ramirez
John Colglazier
Bill Tedesco
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