Anadarko Announces Highlights of 2009 Investor Conference.

* Added 1 Billion BOE of Net Risked Captured Resources

* Drilled Successful Delineation Well at K2

HOUSTON -- Anadarko Petroleum Corporation's (NYSE:APC) 2009 Investor Conference, being held today in The Woodlands, Texas, is highlighted by the company's announcement that it added more than 1 billion barrels of oil equivalent (BOE) of net risked captured resources since March of 2008.

"We are proud of the deep and diverse portfolio of assets we have assembled," Anadarko Chairman and CEO Jim Hackett said. "Since December of 2005, Anadarko's total net risked captured resources have more than doubled, from less than 5 billion BOE to more than 10 billion BOE today. Since March of last year, we've expanded our international net risked resources in West Africa and Brazil. Domestically, we've also added net risked resources in the deepwater Gulf of Mexico, as well as in our emerging shale-gas plays onshore. In addition, the company has successfully transitioned projects from exploration to development phases, expanded resources through infill drilling and downspacing, and monetized noncore assets through strategic divestitures."

One of the highlights of the Conference is the company's announcement of a successful delineation well at the K2 complex in the Green Canyon area of the deepwater Gulf of Mexico. The GC 606 #1 well, located in approximately 4,150 feet of water, encountered approximately 110 feet of net hydrocarbon pay in three Middle- and Lower-Miocene sands. Both the GC 606 #1 and the GC 562 #4 wells are expected to be completed and on production by the end of this year.

The GC 606 #1 well is another positive outcome in a string of successful deepwater drilling activities in 2009 that includes four significant discoveries at the Tweneboa (announced yesterday) and Mahogany Deep prospects offshore Ghana, and the Heidelberg and Shenandoah prospects in the Gulf of Mexico.

"We've built significant momentum during the last two years with differentiating exploration successes, industry-leading project-management skills and a capital-efficient foundation of producing assets onshore. We have also strengthened our balance sheet and liquidity, which has prepared us well to manage through this challenging financial environment, while positioning the company for the economy's inevitable rebound."

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 2008, the company had approximately 2.3 billion barrels-equivalent of proved reserves, making it one of the world's largest independent exploration and production companies. For more information about Anadarko, 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 and produce the wells identified in this news release. See "Risk Factors" in the company's 2008 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.

Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this news release, such as "net risked captured resources" and similar terms that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K for the year ended Dec. 31, 2008, File No. 001-08968, available from us at www.anadarko.com or by writing us at: Anadarko Petroleum Corporation, 1201 Lake Robbins Drive, The Woodlands, Texas 77380 Attn: Investor Relations. You can also obtain this form from the SEC by calling 1-800-SEC-0330.