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ANADARKO INCREASES 1993 CAPITAL SPENDING BUDGET

 HOUSTON, May 3 /PRNewswire/ -- Anadarko Petroleum Corporation (NYSE: APC) today announced that the company will increase its 1993 capital expenditures budget to $290 million from $255 million.
 The increase in spending will be used primarily for Anadarko's domestic exploration and development activity in the Mid-Continent and Gulf Coast regions, as well as in the Gulf of Mexico.
 "Anadarko's recent success in several exploration trends warrants increased spending for further exploration and development drilling," said Robert J. Allison Jr., Anadarko's chairman, president and chief executive officer. "Typically, Anadarko ties capital spending to cash flow, except for the acquisition of producing properties which the company may choose to finance. Current gas prices provide the financial incentive to further develop the company's asset base."
 Anadarko's 1992 capital spending was $360 million, including $206 million for producing property acquisitions.
 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- 5/3/93
 /CONTACT: A. Paul Taylor Jr. of Anadarko Petroleum Corporation, 713-875-1101/
 (APC)


CO: Anadarko Petroleum Corporation ST: Texas IN: OIL SU:

CK -- NY043 -- 3687 05/03/93 10:30 EDT
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Publication:PR Newswire
Date:May 3, 1993
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