2008 Atlantic Rim Annual Planning Meeting Rawlins, Wyoming - PowerPoint PPT Presentation

2008 Atlantic Rim Annual Planning Meeting Rawlins, Wyoming – – November 28, 2007 November 28, 2007 Rawlins, Wyoming

Forward Looking Statement This presentation contains forward - - looking statements within the meaning of Section 27A looking statements within the meaning of Section 27A This presentation contains forward of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Exchange Act of 1934. of the Securities Act of 1933 and Section 21E of the Securities Anadarko believes that its expectations are based on reasonable assumptions. No Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will pro ve to have been correct. A ve to have been correct. A assurance, however, can be given that such expectations will pro number of factors could cause actual results to differ materiall y from the projections, number of factors could cause actual results to differ materiall y from the projections, anticipated results or other expectations expressed in this pres entation. Anadarko cannot entation. Anadarko cannot anticipated results or other expectations expressed in this pres guarantee that it will successfully execute on its drilling and development plans, meet its development plans, meet its guarantee that it will successfully execute on its drilling and revised production guidance, meet its debt reduction goals, or s uccessfully create and revised production guidance, meet its debt reduction goals, or s uccessfully create and market an initial public offering of a midstream Master Limited Partnership. Partnership. See See “ “ Risk Risk market an initial public offering of a midstream Master Limited Factors” Factors ” in the company in the company ’ ’ s 2006 Annual Report on Form 10 s 2006 Annual Report on Form 10 - - K and other public filings and K and other public filings and press releases. Anadarko undertakes no obligation to publicly up date or revise any press releases. Anadarko undertakes no obligation to publicly up date or revise any forward - - looking statements. looking statements. forward Cautionary Note to U.S. Investors — — The United States Securities and Exchange The United States Securities and Exchange Cautionary Note to U.S. Investors Commission permits oil and gas companies, in their filings with the SEC, to disclose only Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual produc tion or conclusive tion or conclusive proved reserves that a company has demonstrated by actual produc formation tests to be economically and legally producible under existing economic and existing economic and formation tests to be economically and legally producible under operating conditions. We use certain terms in this presentation, such as operating conditions. We use certain terms in this presentation, such as “ “ net net unbooked unbooked , , captured resources ” ” , , “ “ net risked captured resources net risked captured resources ” ” or or “ “ unbooked unbooked resource potential resource potential ” ” , , captured resources that the SEC that the SEC ’ ’s s guidelines strictly prohibit us from including in filings with guidelines strictly prohibit us from including in filings with the SEC. the SEC. U.S. U.S. Investors are urged to consider closely the disclosure in our Fo rm 10 Investors are urged to consider closely the disclosure in our Fo rm 10- - K for the year ended K for the year ended December 31, 2006, File No. 001 - - 08968, available from us at 08968, available from us at www.anadarko.com www.anadarko.com or by or by December 31, 2006, File No. 001 writing us at: Anadarko Petroleum Corporation, 1201 Lake Robbins Drive, The Woodlands, writing us at: Anadarko Petroleum Corporation, 1201 Lake Robbins Drive, The Woodlands, Texas 77380 Attn: Investor Relations. You can also obtain this Investor Relations. You can also obtain this form from the SEC by form from the SEC by Texas 77380 Attn: calling 1 - - 800 800 - - SEC SEC - - 0330. 0330. calling 1

Introduction – Presentation Agenda In nt tr ro od du uc ct ti io on ns s I At tl la an nt ti ic c R Ri im m H Hi is st to or ry y A 20 00 07 7 S St ta at tu us s U Up pd da at te e a an nd d E En nd d o of f Y Ye ea ar r P Pl la an ns s 2 20 00 08 8 D De ev ve el lo op pm me en nt t P Pl la an ns s 2 20 00 09 9 F Fo or re ec ca as st t 2 20 00 07 7- -2 20 00 08 8 I In nf fr ra as st tr ru uc ct tu ur re e U Up pd da at te e a an nd d P Pl la an ns s 2 Mi id ds st tr re ea am m 2 20 00 08 8 c co on ns st tr ru uc ct ti io on n p pr ro oj je ec ct ts s M Mo on ni it to or ri in ng g, , M Mi it ti ig ga at ti io on n A Ac ct ti io on ns s a an nd d S St tu ud di ie es s M – Historic Trails – Historic Trails – Air Monitoring Air Monitoring – – Groundwater Monitoring – Groundwater Monitoring – P – Pe er rf fo or rm ma an nc ce e M Mo on ni it to or ri in ng g a an nd d G Go oa al ls s – S – Su ur rf fa ac ce e D Di is st tu ur rb ba an nc ce e a an nd d R Re ec cl la am ma at ti io on n

Atlantic Rim Recent History 20 00 04 4 2 – Doty Mountain – Doty Mountain – – Drill 24 well pilot Drill 24 well pilot – Red Rim – Red Rim – – Drill 16 well pilot Drill 16 well pilot 20 00 05 5 2 – Jolly Roger – Jolly Roger – – Drill 16 well pilot Drill 16 well pilot – Blue Sky – Blue Sky – – Drill 12 producers Drill 12 producers – Brown Cow – Brown Cow – – Drill 2 producers Drill 2 producers 20 00 06 6 2 – Doty Mountain – Doty Mountain – – D Dr ri il ll l 2 24 4 p pr ro od du uc ce er rs s a an nd d 2 2 i in nj je ec ct to or rs s – Brown Cow – Brown Cow – – Drill 11 producers Drill 11 producers 20 00 07 7 2 – Sun Dog – Sun Dog – – P Pl la an n t to o d dr ri il ll l 3 38 8 p pr ro od du uc ce er rs s a an nd d 3 3 i in nj je ec ct to or rs s ( (a ad dd d t to o ex xi is st ti in ng g 1 14 4 w we el ll ls s p pi il lo ot t d dr ri il ll le ed d i in n 2 20 00 02 2) ) e

2007 Status Update and 2008 Plans 20 00 07 7 S Su un n D Do og g D Dr ri il ll li in ng g 2 5 th th – Nov. 28 th th ) – H – Ha av ve e d dr ri il ll le ed d 1 18 8 o of f 4 41 1 w we el ll ls s t th hi is s y ye ea ar r ( (S Se ep pt t. . 1 15 – Nov. 28 ) – 3 – 3 r ri ig gs s w wo or rk ki in ng g + + 1 1 p pr re es se et t r ri ig g – B – Bu ui il lt t 8 82 2 p pa ad d l lo oc ca at ti io on ns s 20 00 08 8 P Pl la an ns s 2 – Drill 150 – Drill 150 - -1 17 75 5 d de ev ve el lo op pm me en nt t w we el ll ls s a an nd d 1 15 5- - 20 injection wells 20 injection wells PO OD D P Pr ri io or ri it ty y f fo or r 2 20 00 08 8 a ac ct ti iv vi it ty y ( (a al ll l b bu ut t D Do ot ty y D D P su ub bm mi it tt te ed d b by y y ye ea ar r e en nd d) ) s – D Do ot ty y M Mo ou un nt ta ai in n B B & & C C – – Sun Dog F – Sun Dog F – Doty Mountain D – Doty Mountain D – J – Ja ac ck k S Sp pa ar rr ro ow w ( (B Bl lu ue e S Sk ky y) )

2007 – 2008 Development Plan

POD Submittal Timeline PO OD Ds s f fo or r S Su ub bm mi it tt ta al l Su ub bm mi it tt ta al l D Da at te e An nt ti ic ci ip pa at te ed d D Dr ri il ll li in ng g P S A Do ot ty y M Mt tn n. . B B No ov ve em mb be er r 3 30 0, , 2 20 00 07 7 Su um mm me er r ­ ­ 2 20 00 08 8 D N S Do D ot ty y M Mt tn n. . C C De D ec ce em mb be er r 1 14 4, , 2 20 00 07 7 Su S um mm me er r – – 2 20 00 08 8 Su S un n D Do og g F F De D ec ce em mb be er r 3 31 1, , 2 20 00 07 7 Su S um mm me er r – – 2 20 00 08 8 ­ ­ 2 20 00 09 9 Do ot ty y M Mt tn n. . D D Ma ay y 1 1, , 2 20 00 08 8 Fa al ll l – – 2 20 00 08 8 D M F Bl B lu ue e S Sk ky y/ /J Ja ac ck k S Sp pa ar rr ro ow w De D ec ce em mb be er r 3 31 1, , 2 20 00 07 7 Fa F al ll l 2 20 00 08 8 – – 2 20 00 09 9 Do D ot ty y M Mo ou un nt ta ai in n A A Ju J ul ly y, , 2 20 00 08 8 20 2 00 09 9

2009 Development Plans Dr ri il ll li in ng g – – A An nt ti ic ci ip pa at te e d dr ri il ll li in ng g 1 15 50 0- -2 20 00 0 w we el ll ls s D Co on nt ti in nu ue e t to o f fo oc cu us s d de ev ve el lo op pm me en nt t o of f S Su un n D Do og g, , D Do ot ty y C Mo ou un nt ta ai in n, , a an nd d J Ja ac ck k S Sp pa ar rr ro ow w F Fe ed de er ra al l U Un ni it ts s M Li im mi it te ed d d dr ri il ll li in ng g r re eq qu ui ir re ed d i in n o ot th he er r u un ni it ts s t to o m me ee et t U Un ni it t L ob bl li ig ga at ti io on ns s o