HOUSTON, Sept. 12, 2016 /PRNewswire/ -- Anadarko Petroleum
Corporation (NYSE: APC) today announced that it has priced a
registered underwritten public offering of 35,250,000 shares of its
common stock for total gross proceeds (before estimated fees and
expenses) of approximately $1,921
million. Anadarko has granted the underwriter a 30-day
option to purchase up to 5,287,500 additional shares of its common
stock. The offering is expected to settle and close on Sept. 16, 2016, subject to customary closing
conditions. The underwriter intends to offer the shares from time
to time for sale in one or more transactions on the New York Stock
Exchange, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time
of sale, at prices related to prevailing market prices or at
negotiated prices.
Net proceeds from the offering are expected to be used to fund
the previously announced acquisition of deepwater Gulf of Mexico assets from an unaffiliated
third party, and any remaining net proceeds will be used for
general corporate purposes. The offering is not conditioned on the
consummation of the acquisition. If the acquisition is not
consummated, Anadarko intends to use the net proceeds from the
offering for general corporate purposes.
J.P. Morgan Securities LLC is acting as the sole underwriter for
the offering. The offering will be made only by means of a
preliminary prospectus supplement and the accompanying base
prospectus. An investor may obtain free copies of both the
preliminary prospectus supplement and the accompanying base
prospectus by visiting EDGAR on the SEC's website at www.sec.gov.
Alternatively, Anadarko or the book-running manager will arrange to
send you the preliminary prospectus supplement and the accompanying
base prospectus if you request them by contacting J.P. Morgan
Securities LLC, via Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York
11717, by calling toll-free at (866) 803-9204, or by e-mail at
prospectus-eq_fi@jpmchase.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction. The offer is being made only through the preliminary
prospectus supplement and the accompanying base prospectus, which
is part of a shelf registration statement that became effective on
Aug. 12, 2016.
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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
2015, the company had approximately 2.06 billion barrels-equivalent
of proved reserves, making it one of the world's largest
independent exploration and production companies.
This news release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. 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
close on the offering and acquisition discussed in this news
release. See "Risk Factors" in the company's 2015 Annual Report on
Form 10-K and other public filings and press releases. Anadarko
undertakes no obligation to publicly update or revise any
forward-looking statements.
ANADARKO CONTACTS
MEDIA:
John
Christiansen, John.Christiansen@anadarko.com,
832.636.8736
Stephanie Moreland,
Stephanie.Moreland@anadarko.com, 832.636.2912
INVESTORS:
John
Colglazier, john.colglazier@anadarko.com, 832.636.2306
Robin Fielder,
robin.fielder@anadarko.com, 832.636.1462
Pete Zagrzecki,
pete.zagrzecki@anadarko.com, 832.636.7727
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SOURCE Anadarko Petroleum Corporation