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ANADARKO REPORTS SIGNIFICANT INCREASE IN SECOND QUARTER RESULTS

 HOUSTON, July 26 /PRNewswire/ -- Anadarko Petroleum Corporation (NYSE: APC) today announced second quarter 1993 net income of $12.4 million (22 cents per share) compared to a loss of $7.7 million (14 cents per share) for the second quarter of 1992. Revenues for the second quarter of 1993 were up 62 percent to $112.5 million compared to $69.6 million in revenues for the same period of 1992.
 For the first six months of 1993, Anadarko had net income of $27.6 million (50 cents per share), excluding the cumulative effect of changes in accounting principles(A); stated after these changes, net income was $105.1 million ($1.88 per share). This compares to a net loss of $3.5 million (six cents per share) for the same period of 1992. Revenues for the first six months of 1993 were $241.8 million compared to revenues of $153 million for the first six months in 1992.
 The significant increase in 1993 revenues and net income was due primarily to higher oil and gas volumes and higher natural gas prices. Anadarko's natural gas production for the second quarter of 1993 was up 24 percent compared to the second quarter of 1992. Anadarko's average U.S. gas price during the second quarter of 1993 was up 40 percent compared to the same period of 1992. During the first six months of 1993, Anadarko's natural gas production was up 21 percent compared to the same period of 1992. Anadarko's average U.S. gas price for the first six months of 1993 was up 33 percent compared to the first six months of 1992.
 During the second quarter of 1993, Anadarko's crude oil and condensate production was up 67 percent compared to the same period of 1992. Anadarko's average U.S. crude oil price for the second quarter of 1993 was down 6 percent compared to the same period of 1992. For the first six months of 1993, Anadarko's crude oil and condensate production was up 67 percent compared to the same period of 1992. Anadarko's Average U.S. crude oil price was down 1 percent compared to the same period of 1992.
 (A)Changes in accounting principles resulted from implementation of Statement of Financial Accounting Standards (SFAS) No. 109, Accounting for Income Taxes and SFAS No. 106, Employers' Accounting for Post- Retirement Benefits Other Than Pensions. SFAS 109 increased 1993 income (net of taxes) by $87.1 million; SFAS 106 decreased 1993 income (net of taxes) by $9.7 million. The cumulative effect of these accounting changes is an increase of $77.4 million ($1.39 per share).
 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.
 ANADARKO PETROLEUM CORPORATION
 Volumes and U.S. Prices
 Quarter Ended Year to Date
 June 30 June 30
 1993 1992 1993 1992
 Natural gas, billion cubic feet 34.8 28.0 81.6 67.6
 Price per thousand cubic feet $2.05 $1.46 $1.88 $1.41
 Crude oil and condensate,
 thousand barrels 1,903 1,140 3,834 2,297
 Price per barrel $17.74 $18.86 $17.70 $17.90
 Natural gas liquids,
 thousand barrels 442 441 1,249 988
 Price per gallon $ 0.31 $ 0.31 $ 0.33 $ 0.29
 Summary Financial Data Quarter Ended Year to Date
 millions June 30 June 30
 1993 1992 1993 1992
 Revenues
 Gas sales $ 71.5 $ 42.3 $154.6 $ 99.4
 Oil and condensate 33.2 20.6 66.5 39.3
 Natural gas liquids
 sales and other 7.8 6.7 20.7 14.3
 Total 112.5 69.6 241.8 153.0
 Costs and Expenses
 Operating expenses 24.0 16.5 48.2 34.8
 Administrative and general 15.2 9.9 28.1 19.1
 Depreciation, depletion and
 amortization 37.9 26.5 83.5 60.9
 Other taxes 10.0 6.4 21.1 14.3
 Provisions for impairments of
 international properties --- 15.0 4.7 15.0
 Total 87.1 74.3 185.6 144.1
 Operating Income 25.4 (4.7) 56.2 8.9
 Other Income 2.0 0.1 2.2 0.4
 Gross Income 27.4 (4.6) 58.4 9.3
 Interest Expense 7.9 6.7 16.3 14.0
 Income before Income Taxes and
 Cumulative Effect of Changes in
 Accounting Principles 19.5 (11.3) 42.1 (4.7)
 Income Taxes 7.1 (3.6) 14.5 (1.2)
 Net income before Cumulative Effect
 of Changes in Accntg Principles 12.4 (7.7) 27.6 (3.5)
 Cumulative effect of Changes in
 accounting principles --- --- 77.4 ---
 Net Income $12.4 ($7.7) $105.1 ($3.5)
 Per Common Share
 Net income before cumulative effect
 of changes in accounting
 principles $0.22 ($0.14) $0.50 ($0.06)
 Cumulative effect of changes in
 accounting principles --- --- 1.39 ---
 Net income $0.22 ($0.14) $1.88 ($0.06)
 Dividends $0.075 $0.075 $0.15 $0.15
 Avg. Number of Shares Outstng. 56.3 55.3 55.8 55.2
 Capital Expenditures $70.3 $53.3 $110.0 $83.1
 -0- 7/26/93
 /CONTACT: A. Paul Taylor Jr. of Anadarko Petroleum Corporation, 713-875-1101/
 (APC)


CO: Anadarko Petroleum Company ST: Texas IN: OIL SU: ERN

MP -- NY082 -- 5799 07/26/93 15:03 EDT
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Date:Jul 26, 1993
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