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ANADARKO ANNOUNCES SECOND QUARTER RESULTS

 ANADARKO ANNOUNCES SECOND QUARTER RESULTS
 HOUSTON, July 28 /PRNewswire/ -- Anadarko Petroleum Corporation


(NYSE: APC) today reported a net loss of $7.7 million (14 cents per share) for the second quarter of 1992 compared to a net loss of $101,000 in the second quarter of 1991. Anadarko's second quarter 1992 results include a $15 million (pretax) provision established for unsuccessful international exploration which reduced net income by about $10.0 million (18 cents per share). Revenues for the second quarter of 1992 were $69.6 million, a 4 percent increase over revenues of $67.0 million in the second quarter of 1991.
 For the first six months of 1992, Anadarko had a net loss of $3.5 million (six cents per share) and revenues of $153.0 million. This compares to net income of $12.9 million (23 cents per share) and revenues of $165.1 million for the same period of 1991.
 Anadarko's natural gas production during the second quarter of 1992 was 28.0 billion cubic feet (Bcf) or 308 million cubic feet per day (MMcf/d) compared to 29.7 Bcf or 326 MMcf/d in the second quarter of 1991. Natural gas prices improved during the second quarter after falling to record low levels in the first quarter of 1992. Anadarko's average U.S. gas price during the second quarter of 1992 was $1.46 per thousand cubic feet (Mcf), up 12 percent compared to $1.30 per Mcf in the second quarter of 1991. For the first six months of 1992, Anadarko produced 67.6 Bcf or 372 MMcf/d of gas at an average U.S. price of $1.41 per Mcf. This compares to 69.9 Bcf or 386 MMcf/d of gas at an average U.S. price of $1.45 per Mcf for the same period in 1991.
 Anadarko's crude oil production for the second quarter of 1992 was 1.1 million barrels at an average U.S. price of $18.87 per barrel. This compares to crude oil production of 1.1 million barrels at an average U.S. price of $18.77 per barrel during the same period of 1991. For the first six months of 1992, Anadarko's crude oil production totaled 2.2 million barrels at an average U.S. price of $17.96 per barrel compared to 2.3 million barrels at an average U.S. price of $19.60 per barrel for the same period in 1991.
 ANADARKO PETROLEUM CORPORATION
 Quarter Ended Year to Date
 June 30 June 30
 1992 1991 1992 1991
 Volumes and U.S. Prices
 Natural gas, billion
 cubic feet 28.0 29.7 67.6 69.9
 Price per thousand
 cubic feet $1.46 $1.30 $1.41 $1.45
 Crude oil and condensate,
 thousand barrels 1,112 1,131 2,183 2,326
 Price per barrel $18.87 $18.77 $17.96 $19.60
 Plant and pipeline
 condensate, thousand
 barrels 28 52 114 205
 Price per barrel $18.47 $18.24 $16.92 $19.04
 Natural gas liquids,
 thousand barrels 441 331 988 757
 Price per gallon $0.31 $0.32 $0.29 $0.36
 ANADARKO PETROLEUM CORPORATION
 Summary Financial Data
 (In millions)
 Quarter Ended Year to Date
 June 30 June 30
 1992 1991 1992 1991
 Revenues
 Gas sales $42.3 $41.0 $99.4 $104.5
 Oil and condensate sales 20.6 20.7 39.3 47.5
 Natural gas liquids and
 other 6.7 5.3 14.3 13.1
 Total 69.6 67.0 153.0 165.1
 Costs and Expenses
 Operating expenses 16.5 18.0 34.8 37.4
 Administrative and general 9.9 10.7 19.1 19.9
 Depreciation, depletion
 and amortization 26.5 27.2 60.9 62.5
 Other taxes 6.4 5.7 14.3 13.2
 Provision for impairment
 of international properties 15.0 - 15.0 -
 Total 74.3 61.6 144.1 133.0
 Operating Income (4.7) 5.4 8.9 32.1
 Other Income 0.1 1.3 0.4 1.6
 Gross Income (4.6) 6.7 9.3 33.7
 Interest Expense 6.7 6.9 14.0 14.2
 Income before Income Taxes (11.3) (0.2) (4.7) 19.5
 Income Taxes (3.6) (0.1) (1.2) 6.6
 Net Income ($7.7) ($0.1) ($3.5) $12.9
 Per Common Share
 Net income ($0.14) ($0.00) ($0.06) $0.23
 Dividends $0.075 $0.075 $0.15 $0.15
 Average Number of Shares
 Outstanding 55.3 55.0 55.2 55.0
 Capital Expenditures $53.3 $51.0 $83.1 $73.2
 NOTE: Anadarko Petroleum Corporation is one of the nation's largest independent natural gas and crude oil exploration and production companies. Anadarko's exploration, development and production activities are concentrated in North America's primary geologic basins onshore and offshore. Exploration efforts also are conducted in frontier areas of the United States and overseas. Anadarko has activities in 20 states and three Canadian provinces.
 -0- 7/28/92
 /CONTACT: A. Paul Taylor Jr. of Anadarko Petroleum Corporation, 713-875-1101/
 (APC) CO: Anadarko Petroleum Corporation ST: Texas IN: OIL SU: ERN


PS -- NY044 -- 4038 07/28/92 11:18 EDT
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