Occupying the Allison Tower and the Hackett Tower in Woodlands, Texas, is the Anadarko Petroleum Corporation. This is a publicly held company on the New York Stock Exchange under the ticker symbol APC. The company was founded in 1959 as a subsidiary of Panhandle Eastern Corporation Pipe Line Company, which spun the company off to shareholders in 1986.
Throughout the last 20 years, a large majority of the company’s growth has come from two primary sources, the exploration and production of oil and natural gas reserves and through acquisition. Approximately 89% of its oil reserves and property reside in the United States, primarily in Rocky Mountains, Gulf of Mexico, Alaska North Slope and the Southern and Appalachia Regions. As of the end of 2015, the company estimated it was sitting on approximately 2.06 billion barrels of oil equivalent of proven reserves, 52% of which were oil liquids and the other 48% natural gas.
The other 11% of its operations can be found in countries like Algeria, Ghana, Kenya, Brazil, Colombia and New Zealand. From 2000 to 2006, the company went on a spending spree as it acquired the following industry competitors: Union Pacific Resources for $4.4 billion in cash, Berkeley Petroleum Corporation for C$1.2 billion in cash plus assumption of C$400 million in debt and Kerr McGee for $16 billion in cash.
The company’s 5,800 employees are led by R. A. Walker, Chairman, President, & CEO and Robert G. Gwin, Executive Vice President & CFO. For the fiscal year ended December 31, 2015, the company had revenues of US$ 8.698 billion, which led to an operating loss -US$8.809 billion and a net loss of -US$6.812 million. The losses incurred in large part because of the drastic fall in oil prices. The company also reported net assets of US$46.414 billion and Shareholders’ Equity of US$15.457 billion.