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ANADARKO PARTICIPATES IN OFFSHORE LEASE SALE

 HOUSTON, March 25 /PRNewswire/ -- Anadarko Petroleum Corporation (NYSE: APC), bidding alone and with a partner, was the apparent high bidder on three offshore tracts at the OCS Lease Sale 142 held in New Orleans on March 23, 1993. Anadarko and partners bid $1,845,273 for the three blocks, of which $1,759,805 was net to Anadarko. All bids are subject to the approval of the Minerals Management Service which administered the sale.
 Anadarko and Phillips Petroleum Corporation submitted the apparent high bid for West Cameron South Addition Block 654. The total bid for the block was $256,438, of which $170,971 was net to Anadarko. Anadarko will hold a 66.67 percent working interest in the block and Phillips will hold the remaining 33.33 percent working interest.
 Anadarko was also the apparent high bidder on Vermilion South Addition Block 258 with a bid of $1,060,945 and on Grand Isle South Addition Block 116 with a bid of $527,890. Anadarko will hold a 100 percent working interest in both blocks.
 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- 3/25/93
 /CONTACT: A. Paul Taylor Jr. of Anadarko Petroleum Corporation, 713-875-1101/
 (APC)


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

SH -- NY026 -- 9462 03/25/93 09:54 EST
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Publication:PR Newswire
Date:Mar 25, 1993
Words:269
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