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Anadarko External Audit

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Anadarko Petroleum Corporation
Strategic Analysis

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I. Introduction A) History

Anadarko Petroleum Corporation is an American based organization, which is recorded as the world largest natural gas and oil exploration and Production Company. The industry was formed in 1959 as a pipeline company and continued to flourish in business until it became an oil production company in 1986. It continuously followed the trend of success up to date. It operates in southern United States, Rocky Mountains region, and Appalachian basin. Further, it is a premier deepwater producer in Mexico, and production in Algeria, Ghana, Alaska, West Africa and some parts of east Africa. According to the 2012 financial report, Anadarko delivered sales of 268 million BOE, which was an increase of 8% from 2011. By the end of 2012, the company had a reserve of 2.56 billion barrels of oil. The company is committed to safe production energy in a way that protects the environment, public health and the communities (Anadarko Petroleum Corporation, 2013). Anadarko was created in 1959 as a wholly owned subsidiary of Panhandle Eastern Pipe Line Company after the discovery of large amounts of natural gas in the Anadarko Basin, thus the company's name. Anadarko spun off from Panhandle Eastern as an independent corporation in 1986 and now has activities in more than a dozen countries. Anadarko’s NAICS code is 211111 and SIC code is 131101. Their stock symbol is APC and their stock price as of October 28th, 2013 is $96.58 per share.

B) Current organizational challenges and strategies

Anadarko operates in a dynamic and highly competitive market. Unlike in the past where it was able to differentiate itself from emerging risks, the company today faces challenges from other emerging

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