ANADARKO Poised to be a Player.

• Author: GUDDE, LEVI

Things are changing in Alaska's oil patch. And as change occurs, it offers increased opportunities for independent oil companies to get involved in the exploration, development and production of Alaska oil. In fact, one of the world's largest and most successful independent oil companies is already here, and is involved to the tune of more than $200 million.

The people at Anadarko Petroleum Corp. think there is a lot of oil yet to be discovered in Alaska's North Slope represents one of the two best remaining exploration frontiers in the U.S., in regards to discovering giant new oil fields.

Last year, Anadarko put up $16 million to participate in a federal lease sale for the right to explore for oil in the National Petroleum Reserve-Alaska west of Prudhoe Bay. Together, with partner Arco Alaska Inc. (and some on its own), they were high bidders on 99 blocks of land encompassing about 628,405 acres.

"Our participation in the NPR-A lease sale, along with our continuing involvement in the Alpine project, reflects Anadarko's strong commitment to Alaska as one of our core areas," says John N. Seitz, president and COO of Anadarko. "We've been gathering information on Alaska since the 1980s, and have aggressively expanded our oil and gas interest in the state since the early 1990s. We consider Alaska to be among the most attractive areas in the world to add significant reserves."

Impressive Credentials

Anadarko's credentials for voicing such optimism are impressive. In the company's 40-year history, it has come to be known as one of the most successful, independent finders and producers of both oil and natural gas in the world.

From its beginnings on the wind-swept prairies of Southwest Kansas in 1959, Anadarko has been an aggressive, can-do outfit. The new company soon expanded into both Oklahoma and Texas, and in 1965 it acquired the assets of Ambassador Oil for $12 million. That acquisition included the exploration and development rights to 600,000 acres in 19 states and Canada.

Anadarko continued to grow during the 1970s when it joined five other companies in acquiring the drilling rights to nine blocks in the Gulf of Mexico. During that same time, the company also beefed up its domestic and foreign exploration staff, and began applying new thinking and new technology to the finding of oil and gas. In 1978, Anadarko sur-passed $100 million in gross revenues for the first time in its history, primarily from oil and gas production.

Anadarko Drills Deep

The 1980s were also busy years for Anadarko as it continued exploration in the Gulf of...