Luncheon – March 2, 2007

Title: The U.S. Rockies: Growing Against the Trend

Speaker: Jim Kleckner, Vice President Operations, U.S. Rockies, Anadarko Petroleum Corporation

Date: March 2, 2007

Publication: The Outcrop, March 2007, p. 4

Anadarko Petroleum Corporation has a long history in the Rocky Mountains. The 2006 acquisitions of Kerr­McGee and Western Gas Resources further established Anadarko as one of the largest producers in this region.

The Rockies resource base affords us considerable opportunities to discover, develop and deliver energy for America. In fact, when comparing Lower 48 natural gas production by region, the Rocky Mountains is growing against the trend.

For Anadarko, our Rocky Mountain assets are key to value creation and achieving a better balanced, more predictable growth profile. Our Rockies daily net production was 205,000 barrels of oil equivalent in fourth quarter 2006. We also have more than 2 billion barrels of unbooked net resource potential within this region.

Our portfolio is rich with “unconventional” properties, including tight gas properties in Wattenberg, the Greater Natural Buttes and the Pinedale/Jonah fields; coalbed methane development in the Powder River Basin; and enhanced oil recovery in Salt Creek. The company owns fee mineral rights in the 8-million­-acre Land Grant that runs across southern Wyoming and into portions of Colorado and Utah. Additionally, Anadarko has gained significant midstream operations across the region.

This presentation will examine Anadarko’s strategy in the Rockies and how we’re positioning for future growth.