Anadarko Announces Leadership Changes

HOUSTON, Oct. 4, 2017 /PRNewswire/ -- Anadarko Petroleum Corporation (NYSE: APC) today announced a consolidation of its leadership structure. Since the beginning of 2015, Anadarko has sold nearly $7.5 billion of non-core assets in order to reposition and focus its business to deliver better returns and growth across commodity cycles. These management changes align with the evolution of the portfolio and strategic direction the company has taken.

Effective immediately, Danny Brown, formerly Executive Vice President (EVP), International and Deepwater Operations, has been named EVP, U.S. Onshore Operations, with responsibility for the company's upstream and midstream activity in Colorado, Texas, Utah and Wyoming. Mitch Ingram, formerly EVP, Global LNG, has been named EVP, International & Deepwater Operations and Project Management, overseeing Anadarko's development and production activities in Algeria, Ghana, the Gulf of Mexico and Mozambique. Ingram will also assume responsibility for the company's worldwide project-management and construction activities. In addition, the company announced Ernie Leyendecker, formerly EVP, International and Deepwater Exploration, has been named EVP, Exploration, with responsibility for the company's worldwide exploration efforts. U.S. onshore exploration is being combined with Leyendecker's prior duties, consolidating all of the company's exploration activities under his direction. Brad Holly, formerly EVP, U.S. Onshore Exploration and Production, is leaving the company to pursue other interests.

"By consolidating our leadership structure, we expect to achieve greater consistency and results across the organization with regard to operational execution, health, safety, and environmental performance, and project management," said Al Walker, Anadarko Chairman, President and CEO. "We have successfully narrowed the focus of our business and concentrated development activities in world-class material, scalable assets. Consistent with this approach, our executive management team needed to contract accordingly. Anadarko will continue to direct most of its investing toward our short- and intermediate-cash-cycling opportunities in the U.S. onshore and tieback opportunities in the Gulf of Mexico, while continuing to build longer-term value through our emerging LNG business and selective deepwater exploration. We expect the operating environment for our industry to remain volatile and, through our increasing use of technology to enhance safety and improve efficiencies to optimize our exceptional asset footprint, we are very well positioned to manage across cycles. Along with my congratulations to Danny, Mitch and Ernie, I want to express my appreciation to Brad for his 20 years of service and contributions to Anadarko. We wish him all the best as he moves forward in his career."

Brown began his career with the company in 1998. Prior to serving as EVP, International and Deepwater Operations, he held a variety of positions within Anadarko, including: Sr. Vice President, International and Deepwater Operations; Vice President, Operations for Anadarko's Southern and Appalachia Region; Vice President, Corporate Planning; General Manager of the Maverick Basin and the company's Freestone/Chalk area (U.S. onshore); Business Advisor for Planning and Reserves Administration in the Gulf of Mexico; and engineering roles in both the U.S. onshore and the Gulf of Mexico. He holds a Bachelor of Science in mechanical engineering from Texas A&M University and an MBA from Rice University, where he was a Jones Scholar Award recipient. Brown is a registered Professional Engineer in the state of Texas and serves on the Board of Advisors at the World Affairs Council.

Ingram has more than 30 years of experience in the oil and natural gas industry and joined Anadarko in 2015 as EVP, Global LNG. Prior to joining the company, Ingram worked with BG Group, where he served as a member of the company's Executive Committee in the role of Executive Vice President – Technical. He also held positions of increasing responsibilities with BG Group's LNG project in Queensland Australia, where he was the Managing Director of QGC. Prior to BG, Ingram was with Occidental Oil & Gas for 20 years, where he held several U.K. and international positions in project management, developments and operations. He holds a bachelor's degree in mechanical engineering from Robert Gordon University.

Leyendecker has more than 30 years of experience and joined the company in 2002. He most recently served as EVP, International and Deepwater Exploration. During his career, Leyendecker has held positions of increasing responsibility including: Sr. Vice President, International Exploration; Sr. Vice President, Gulf of Mexico Exploration; Vice President of Corporate Planning; and General Manager for Worldwide Exploration Engineering, Planning and International Negotiations. He holds a Bachelor of Science in petroleum engineering from Texas A&M University. He is a member of the Society of Petroleum Engineers, the Association of Petroleum Geologists and the Houston Geological Society.

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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 2016, the company had 1.72 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 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 successfully complete its previously announced share-repurchase program; to meet operating and production guidance; and to efficiently identify and deploy capital resources. See "Risk Factors" in the company's 2016 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.

Anadarko Contacts

MEDIA:
John Christiansen, [email protected], 832.636.8736
Stephanie Moreland, [email protected], 832.636.2912

INVESTORS:
Robin Fielder, [email protected], 832.636.1462
Andy Taylor, [email protected], 832.636.3089 
Pete Zagrzecki, [email protected], 832.636.7727

SOURCE Anadarko Petroleum Corporation

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