UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended December 31, 1995
Commission File No. 1-8968
ANADARKO PETROLEUM CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 76-0146568
(State of incorporation) (I.R.S. Employer
Identification No.)
17001 Northchase Drive, Houston, Texas 77060
(Address of executive offices) (Zip Code)
Registrant's telephone number: (713) 875-1101
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange
Title of each class on which registered
Common Stock, $0.10 par value The New York Stock Exchange, Inc.
Preferred Stock Purchase Rights The New York Stock Exchange, Inc.
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days. Yes x No .
Indicate by check mark if the disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. x .
The aggregate market value of the voting stock held by non-affiliates of
the registrant computed using the average of the high and low sales prices
at which the stock sold on January 31, 1996 was $2,937,125,000.
The number of shares outstanding of each of the registrant's classes of
common stock as of January 31, 1996 is shown below:
Number of Shares
Title of Class Outstanding
Common Stock, $0.10 par value ................ 59,037,692<PAGE>
Part of
Form 10-K Documents Incorporated by Reference
Part I Portions of the Anadarko Petroleum Corporation 1995 Annual
Report to Stockholders.
Part III Portions of the Proxy Statement, dated March 18, 1996,
for the Annual Meeting of Stockholders of Anadarko
Petroleum Corporation to be held April 25, 1996.
<PAGE>
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.
ANADARKO PETROLEUM CORPORATION
(Registrant)
June 26, 1996 [MICHAEL E. ROSE]
Michael E. Rose - Senior Vice President,
Finance and Chief Financial Officer
<PAGE>
<PAGE>
==============================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT
Pursuant to Section 15(d) of the Securities Exchange Act of 1934
For the Fiscal Year Ended December 31, 1995
Commission File No. 1-8968
ANADARKO EMPLOYEE SAVINGS PLAN
(Full title of the plan)
ANADARKO PETROLEUM CORPORATION
(Name of issuer of the securities held pursuant to the plan)
17001 Northchase Drive
Houston, Texas 77060
(Address, including zip code, of executive offices)
(713) 875-1101
(Telephone number)
==============================================================================
<PAGE>
<PAGE>
ANADARKO EMPLOYEE SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS AND SCHEDULES
FINANCIAL STATEMENTS
Page
Statement of Net Assets Available for Benefits
(with Fund Information), December 31, 1995 1
Statement of Net Assets Available for Benefits
(with Fund Information), December 31, 1994 2
Statement of Changes in Net Assets Available for Benefits
(with Fund Information), Year Ended December 31, 1995 3
Statement of Changes in Net Assets Available for Benefits
(with Fund Information), Year Ended December 31, 1994 5
Notes to Financial Statements 7
Independent Auditors' Report 13
SCHEDULES
Schedule I - Item 27a - Schedule of Assets Held for
Investment Purposes, December 31, 1995 S-1
Schedule IV -Item 27d - Schedule of Reportable Transactions,
Year Ended December 31, 1995 S-2
All other schedules are omitted because they are not applicable, not
required or the information is included in the Financial Statements or Notes
thereto.
<PAGE>
<PAGE>
<TABLE>
ANADARKO EMPLOYEE SAVINGS PLAN
Statement of Net Assets Available for Benefits
(with Fund Information)
December 31, 1995
<CAPTION>
Company PanEnergy Growth Equity Balanced Money
ASSETS Total Stock Fund Stock Fund Fund Fund Market Fund
<S> <C> <C> <C> <C> <C> <C>
Investments, at fair value:
Anadarko Petroleum Corporation -
1,020,689 shares of common stock
(cost $35,898,579) $55,244,793 $55,244,793 $ --- $ --- $ --- $ ---
PanEnergy Corp -
94,827 shares of common stock
(cost $1,850,315) 2,643,303 --- 2,643,303 --- --- ---
Twentieth Century Growth Mutual Fund -
280,594 units (cost $6,168,549) 5,440,712 --- --- 5,440,712 --- ---
George Putnam Mutual Fund -
368,153 units (cost $5,244,957) 5,706,374 --- --- --- 5,706,374 ---
Money market investments 11,335,366 585,855 60,941 273 352 10,687,945
Employee loans receivable 3,353,721 3,353,721 --- --- --- ---
83,724,269 59,184,369 2,704,244 5,440,985 5,706,726 10,687,945
Accrued interest and dividends
receivable 114,999 70,804 289 1 --- 43,905
Employee contribution receivable 611,887 355,872 --- 106,153 73,752 76,110
Employer receivable 1,499 1,301 198 --- --- ---
Other assets 180,838 122,634 --- 3,264 3,202 51,738
Total Assets 84,633,492 59,734,980 2,704,731 5,550,403 5,783,680 10,859,698
Liabilities 127,997 --- --- 127,997 --- ---
Net assets available for benefits $84,505,495 $59,734,980 $2,704,731 $5,422,406 $5,783,680 $10,859,698
</TABLE>
See accompanying notes to financial statements.
-1-
<PAGE>
<PAGE>
<TABLE>
ANADARKO EMPLOYEE SAVINGS PLAN
Statement of Net Assets Available for Benefits
(with Fund Information)
December 31, 1994
<CAPTION>
Company PanEnergy Growth Equity Balanced Money
ASSETS Total Stock Fund Stock Fund Fund Fund Market Fund
<S> <C> <C> <C> <C> <C> <C>
Investments, at fair value:
Anadarko Petroleum Corporation -
985,320 shares of common stock
(cost $32,915,726) $37,934,821 $37,934,821 $ --- $ --- $ --- $ ---
PanEnergy Corp -
118,982 shares of common stock
(cost $2,298,011) 2,349,895 --- 2,349,895 --- --- ---
Twentieth Century Growth Mutual Fund -
191,560 units (cost $4,288,720) 3,589,842 --- --- 3,589,842 --- ---
George Putnam Mutual Fund -
269,782 units (cost $3,719,336) 3,482,899 --- --- --- 3,482,899 ---
Money market investments 7,894,344 1,680,448 49,272 157 330 6,164,137
Employee loans receivable 3,064,098 3,064,098 --- --- --- ---
58,315,899 42,679,367 2,399,167 3,589,999 3,483,229 6,164,137
Accrued interest and dividends
receivable 96,860 67,117 237 81 --- 29,425
Employee contribution receivable 648,649 371,374 --- 117,305 80,474 79,496
Employer receivable 1,496 1,298 198 --- --- ---
Other assets 257,234 245,809 --- 2,889 2,406 6,130
Total Assets 59,320,138 43,364,965 2,399,602 3,710,274 3,566,109 6,279,188
Liabilities 230,108 --- --- 63,991 --- 166,117
Net assets avaliable for benefits $59,090,030 $43,364,965 $2,399,602 $3,646,283 $3,566,109 $6,113,071
See accompanying notes to financial statements.
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</TABLE>
<PAGE>
<PAGE>
<TABLE>
ANADARKO EMPLOYEE SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits
(with Fund Information)
For the Year Ended December 31, 1995
<CAPTION>
Company PanEnergy Growth Equity Balanced Money
Total Stock Fund Stock Fund Fund Fund Market Fund
<S> <C> <C> <C> <C> <C> <C>
Investment income:
Dividends on Anadarko Petroleum
Corporation common stock $ 311,968 $ 311,968 $ --- $ --- $ --- $ ---
Dividends on PanEnergy
Corp common stock 91,397 --- 91,397 --- --- ---
Dividends on Twentieth Century
Growth units 740,484 --- --- 740,484 --- ---
Dividends on George Putnam units 350,464 --- --- --- 350,464 ---
Interest earned 494,423 64,618 2,894 37 22 426,852
Interest income on participant loans 233,095 233,095 --- --- --- ---
Other income 38,931 --- 38,931 --- --- ---
Total investment income 2,260,762 609,681 133,222 740,521 350,486 426,852
Investment expenses:
Administrative expenses
(fees and commissions) 17,614 16,838 776 --- --- ---
Net investment income 2,243,148 592,843 132,446 740,521 350,486 426,852
Realized gain on investments 1,425,993 1,206,795 40,986 98,549 79,663 ---
Unrealized appreciation (depreciation)
of investments $16,262,540 $15,001,656 $751,791 $(133,906) $642,999 $ ---
(Continued)
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</TABLE>
<PAGE>
<PAGE>
<TABLE>
ANADARKO EMPLOYEE SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits (Continued)
(with Fund Information)
For the Year Ended December 31, 1995
<CAPTION>
Company PanEnergy Growth Equity Balanced Money
Total Stock Fund Stock Fund Fund Fund Market Fund
<S> <C> <C> <C> <C> <C> <C>
Contributions:
Employee $ 5,220,919 $ 3,019,615 $ --- $ 847,603 $ 679,038 $ 674,663
Employer
Cash 364 364 --- --- --- ---
Anadarko Petroleum
Corporation common
stock (82,573 shares) 3,539,722 3,539,722 --- --- --- ---
8,761,005 6,559,701 --- 847,603 679,038 674,663
Interfund transfers --- (5,089,857) (258,636) 412,244 809,861 4,126,388
Additional contributions
resulting from forfeitures 70,145 70,145 --- --- --- ---
Total contributions 8,831,150 1,539,989 (258,636) 1,259,847 1,488,899 4,801,051
Withdrawals:
Distributions to participants 3,277,221 1,901,123 361,458 188,888 344,476 481,276
Forfeitures 70,145 70,145 --- --- --- ---
Total withdrawals 3,347,366 1,971,268 361,458 188,888 344,476 481,276
Increase in net assets
during the year 25,415,465 16,370,015 305,129 1,776,123 2,217,571 4,746,627
Net assets at beginning of year 59,090,030 43,364,965 2,399,602 3,646,283 3,566,109 6,113,071
Net assets at end of year $84,505,495 $59,734,980 $2,704,731 $5,422,406 $5,783,680 $10,859,698
See accompanying notes to financial statements.
-4-
</TABLE>
<PAGE>
<TABLE>
ANADARKO EMPLOYEE SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits
(with Fund Information)
For the Year Ended December 31, 1994
<CAPTION>
Company PanEnergy Growth Equity Balanced Money
Total Stock Fund Stock Fund Fund Fund Market Fund
<S> <C> <C> <C> <C> <C> <C>
Investment income:
Dividends on Anadarko Petroleum
Corporation common stock $ 263,585 $ 263,585 $ --- $ --- $ --- $ ---
Dividends on PanEnergy
Corp common stock 111,709 --- 111,709 --- --- ---
Dividends on Twentieth Century
Growth units 544,736 --- --- 544,736 --- ---
Dividends on George Putnam units 225,335 --- --- --- 225,335 ---
Interest earned 371,013 64,196 1,933 88 14 304,782
Interest income on participant loans 186,414 186,414 --- --- --- ---
Total investment income 1,702,792 514,195 113,642 544,824 225,349 304,782
Investment expenses:
Administrative expenses
(fees and commissions) 19,488 17,910 1,578 --- --- ---
Net investment income 1,683,304 496,285 112,064 544,824 225,349 304,782
Realized loss on investments (202,475) (4,254) (86,396) (48,793) (63,032) ---
Unrealized depreciation
of investments $(8,165,596) $(6,922,403) $(466,350) $(578,557) $(198,286) $ ---
(Continued)
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</TABLE>
<PAGE>
<PAGE>
<TABLE>
ANADARKO EMPLOYEE SAVINGS PLAN
Statement of Changes in Net Assets Available for Benefits (Continued)
(with Fund Information)
For the Year Ended December 31, 1994
<CAPTION>
Company PanEnergy Growth Equity Balanced Money
Total Stock Fund Stock Fund Fund Fund Market Fund
<S> <C> <C> <C> <C> <C> <C>
Contributions:
Employee $ 6,118,728 $ 3,287,320 $ --- $1,049,058 $ 829,874 $ 952,476
Employer
Cash 1,454 1,454 --- --- --- ---
Anadarko Petroleum
Corporation common
stock (71,608 shares) 3,304,795 3,304,795 --- --- --- ---
9,424,977 6,593,569 --- 1,049,058 829,874 952,476
Interfund transfers --- 4,547,398 (529,102) (850,200) (883,003) (2,285,093)
Additional contributions
resulting from forfeitures 25,361 25,361 --- --- --- ---
Total contributions 9,450,338 11,166,328 (529,102) 198,858 (53,129) (1,332,617)
Withdrawals:
Distributions to participants 3,252,372 1,704,195 218,114 67,638 275,783 986,642
Forfeitures 25,361 25,361 --- --- --- ---
Total withdrawals 3,277,733 1,729,556 218,114 67,638 275,783 986,642
Increase (decrease) in net
assets during the year (512,162) 3,006,400 (1,187,898) 48,694 (364,881) (2,014,477)
Net assets at beginning of year 59,602,192 40,358,565 3,587,500 3,597,589 3,930,990 8,127,548
Net assets at end of year $59,090,030 $43,364,965 $2,399,602 $3,646,283 $3,566,109 $6,113,071
See accompanying notes to financial statements.
-6-
</TABLE>
<PAGE>
ANADARKO EMPLOYEE SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
For the Years Ended December 31, 1994 and 1995
1. Summary of Significant Accounting Policies
Basis of Presentation The accounts of the Anadarko Employee Savings Plan
(Plan) are maintained on an accrual basis.
Expenses All trustee fees, brokerage fees and other expenses incident to the
administration of the Plan may be paid by Anadarko Petroleum Corporation
(Anadarko, the Company or the Employer) and, if not paid by the Company, shall
be paid by the Plan. In 1994 and 1995, the Company elected to pay the trustee
fees for the Plan and presently intends to continue to do so although the
Company can, at its discretion, discontinue this practice.
Investments On each valuation date, as defined, securities held by the Plan
are valued at fair value and the increase or decrease in the value of
securities held, plus any net income or loss of the Plan, is allocated to the
participants' accounts. Fair value is based on the closing market price of the
securities at December 31. Security transactions are recorded on a trade-date
basis.
For 1994 and 1995, realized gains and losses were based on the difference
between market values of the withdrawn securities at the trade date and the
market value at January 1, 1994 and 1995, respectively. If no shares existed
at the beginning of the period, realized gains and losses reported on
withdrawals of securities were based on the difference between market values of
the withdrawn securities at the trade date and the average cost to the Plan.
Employee loans receivable are valued at amortized cost, which approximates fair
value.
2. Description of the Plan
The Plan was adopted by the Company's Board of Directors and approved by its
sole stockholder on August 27, 1986. The Plan has been subsequently restated
and amended. Effective January 1, 1994, the Plan was amended and restated for
administrative changes. The financial statements and accompanying notes relate
to the Plan as in effect on December 31, 1995.
-7-
<PAGE>
<PAGE>
ANADARKO EMPLOYEE SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
The purpose of the Plan is to encourage and assist employees in accumulating
retirement savings, to provide a means for employees to have an ownership
interest in common stock of the Company (Company Stock) and to encourage
employees to remain in the employ of the Company, its subsidiaries and
affiliates. The Plan has been adopted exclusively to provide benefits for
employees participating in the Plan (Members) and their beneficiaries, and no
part of the corpus or income of the trust fund (Trust) established pursuant to
the Plan to hold contributions of Members and the Company may be used for any
purpose other than to provide such benefits and defray reasonable expenses of
administering the Plan.
The Plan is a defined contribution plan that is qualified under Section 401 of
the Internal Revenue Code of 1986, as amended (Code). See Note 4. All regular
employees of the Company are eligible to participate in the Plan upon employ-
ment. Participation is voluntary. Directors and officers who are also
employees of the Company may participate on the same basis as all other
employees. Members may contribute to the Plan up to 12% of their compensa-
tion, which includes base salary or wages, as well as overtime and incentive
bonuses (excluding override payments, front-end bonuses and other special
payments). The Company will match 100% of a Member's contributions up to a
maximum of 6% of such Member's compensation. Subject to provisions of the Plan
and applicable provisions of the Code and Treasury Regulations, an Eligible
Employee may make a Qualified Rollover Contribution to the Plan.
Contributions by a Member are always the Member's property and not subject to
vesting. A Member has a 100% vested right to Employer matching contributions
after three years of service or upon death, retirement, disability or a change
in control of the Company. Subject to certain restrictions, Members may elect
to have amounts distributed from the Plan to them prior to termination of
employment through withdrawals or loans from the Plan. Contributions to the
Plan are subject to certain limitations under the Code. Generally, employee
contributions are withheld on the 25th of the month and sent to the Trustee by
the first of the following month.
The Employer contribution account of an employee who terminates employment prior
to the time that he or she is vested will be forfeited by the employee. For
1994 and 1995, employee forfeitures were $25,361 and $70,145, respectively.
Forfeitures do not affect total equity of the Plan but merely reduce future
Employer contributions.
3.Investment Programs
Employer Contributions The Employer contribution accounts of Members will
be invested in Company Stock.
Investment Options for Tax-Deferred, After-Tax and Rollover Contributions
Each Member may designate the manner in which the amounts allocated to their
tax-deferred savings account, their after-tax savings account and their
rollover account shall be invested. The following is a listing of options:
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<PAGE>
<PAGE>
ANADARKO EMPLOYEE SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
Option 1 In shares of Company Stock. Amounts invested under Option 1 shall
be invested along with Employer matching contributions as one fund
referred to as the Company Stock Fund.
Option 2 In such general fixed income and equity investments (other than
Company Stock unless purchased indirectly via a mutual fund
investment) as the Trustee may determine. Such investments may be
made as direct investments of the Trust or may be investments in
mutual funds which have investment guidelines and criteria which
are consistent with this Option 2. Amounts invested under Option 2
shall be invested as one fund referred to as the Balanced Fund.
Option 3 In such general equity investments (other than Company Stock unless
purchased indirectly via a mutual fund investment) as the Trustee
may determine. Such investments may be made as direct investments
of the Trust or may be investments in mutual funds which have
investment guidelines and criteria which are consistent with this
Option 3. Amounts invested under Option 3 shall be invested as one
fund referred to as the Growth Equity Fund.
Option 4 In such money market investments as the Trustee may determine.
Such investments may be made as direct investments of the Trust
or may be investments in mutual funds which have investment
guidelines and criteria which are consistent with this Option 4.
Amounts invested under Option 4 shall be invested as one fund
referred to as the Money Market Fund.
A Member may designate one of such options for all of the contributions to
their tax-deferred savings account, their after-tax savings account and their
rollover account or a Member may designate a percentage in 10% increments of
such contributions to be invested pursuant to each option. Invested funds of
Members, including Employer contributions, can be transferred between funds at
the election of the Member, subject to certain restrictions as defined in the
Plan. The amount of such transfers are reported as interfund transfers in the
Statement of Changes in Net Assets Available for Benefits (with Fund
Information).
As of December 31, 1995, a total of 501 members were investing their contribu-
tions in the Company Stock Fund, 69 Members were investing their contributions
in the Money Market Fund, 38 Members were investing their contributions in the
Growth Equity Fund, 21 Members were investing their contributions in the
Balanced Fund and 448 Members were investing their contributions in a combina-
tion of funds.
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<PAGE>
<PAGE>
ANADARKO EMPLOYEE SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
A separate stock fund (PanEnergy Stock Fund) was established to maintain the
PanEnergy Corp (formerly Panhandle Eastern Corporation) (PanEnergy) common
stock received under the Plan from the PanEnergy Corp and Participating
Affiliates Employees' Stock Purchase and Savings Plan in 1987. Contributions or
transfers of previously invested funds to the PanEnergy Stock Fund are not
permitted. Members are allowed to transfer funds from the PanEnergy Stock Fund
to any of the other funds. Dividends from PanEnergy common stock are reinvested
in PanEnergy common stock.
In December 1995, the PanEnergy Stock Fund received $38,931 from settlement of a
lawsuit that was filed against PanEnergy. The lawsuit was filed on behalf of
participants due to alleged violations of federal securities laws including
misrepresentations and non-disclosures to the public with regard to material
facts relating to the financial condition of PanEnergy. The plaintiffs claimed
that the effect of these actions caused stockholders to purchase PanEnergy
common stock at artificially inflated prices from June 1990 through January
1991. The lawsuit was settled out of court and the Plan, as a participant in
the PanEnergy dividend reinvestment program received its share of the settlement
proceeds. The settlement was allocated to individuals based on the number of
shares of PanEnergy common stock in their account as of December 31, 1990.
4. Federal Income Taxes
The Company has received a favorable determination letter from the Internal
Revenue Service that (i) the Plan as restated effective January 1, 1989 met the
requirements of section 401(a) of the Code and the Trust established thereunder
is exempt from federal income tax under section 501(a) of the Code and (ii) the
provisions of the Plan as restated effective January 1, 1989 regarding tax-
deferred contributions constituted a qualified cash or deferred arrangement
within the meaning of section 401(k) of the Code. The Plan was restated and
amended, effective January 1, 1994, for administrative changes. The Company
has received a favorable determination letter from the Internal Revenue
Service that the Plan, as restated and amended effective January 1, 1994,
meets such requirements.
The Company is entitled to deduct for federal income tax purposes the amount
of tax-deferred contributions and Employer matching contributions made to
the Plan. In general, neither such contributions to the Plan nor the income
of the Trust earned thereon and earned on Members' after-tax contributions
to the Plan will be taxable to Members as income prior to the time such Members
receive a distribution from the Plan. A Member's after-tax contributions to
the Plan are not deductible from their taxable income. A Member's tax-
deferred contributions are excluded from their taxable income for the year
contributions are made, except for any amounts which exceed limitations
under the Code.
-10-
<PAGE>
<PAGE>
ANADARKO EMPLOYEE SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
Certain tax consequences apply upon withdrawal and distribution of amounts in a
Member's accounts, therefore a Member should seek tax advice prior to
requesting a withdrawal or distribution.
5. Realized Gain (Loss) on Investments
The realized gain (loss) on investments for the years ended December 31, 1994
and 1995 were computed as follows:
<TABLE>
<S> <C> <C> <C> <C> <C>
Company PanEnergy Growth Equity Balanced
Total Stock Fund Stock Fund Fund Fund
1994
Total proceeds $5,934,702 $2,018,972 $678,758 $1,477,679 $1,759,293
Total costs 6,137,177 2,023,226 765,154 1,526,472 1,822,325
Net realized
loss (202,475) (4,254) (86,396) (48,793) (63,032)
1995
Total proceeds 9,627,164 7,587,169 589,542 637,832 812,621
Total costs 8,201,171 6,380,374 548,556 539,283 732,958
Net realized
gain $1,425,993 $1,206,795 $ 40,986 $ 98,549 $ 79,663
</TABLE>
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<PAGE>
ANADARKO EMPLOYEE SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS (Continued)
<TABLE>
<CAPTION>
6. Unrealized Appreciation (Depreciation) of Investments
A reconciliation of unrealized appreciation (depreciation) of investments at
the beginning and end of 1994 and 1995 and the changes therein are as follows:
<S> <C> <C> <C> <C> <C>
Company PanEnergy Growth Equity Balanced
Total Stock Fund Stock Fund Fund Fund
Appreciation (depreciation)
at January 1, 1994 $13,223,617 $12,781,438 $ 660,979 $(174,047) $(44,753)
Sales and purchases
during 1994 (922,357) (839,940) (142,745) 53,726 6,602
Depreciation of securities
during 1994 (8,165,596) (6,922,403) (466,350) (578,557) (198,286)
Appreciation (depreciation)
at December 31, 1994 4,135,664 5,019,095 51,884 (698,878) (236,437)
Sales and purchases
during 1995 (525,422) (674,537) (10,687) 104,947 54,855
Appreciation (depreciation)
of securities during 1995 16,262,540 15,001,656 751,791 (133,906) 642,999
Appreciation (depreciation)
at December 31, 1995 $19,872,782 $19,346,214 $ 792,988 $(727,837) $461,417
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</TABLE>
<PAGE>
<PAGE>
INDEPENDENT AUDITORS' REPORT
The Administrative Committee
Anadarko Employee Savings Plan:
We have audited the accompanying statements of net assets available for
benefits (with fund information) and the related supplemental schedules, of the
Anadarko Employee Savings Plan (the Plan), as of December 31, 1995 and 1994
and the related statements of changes in net assets available for benefits
(with fund information), for each of the years in the two-year period ended
December 31, 1995. These financial statements are the responsibility of the
Plan's management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits (with fund
information) of the Plan as of December 31, 1995 and 1994 and the changes in
net assets available for benefits (with fund information) for each of the
years in the two-year period ended December 31, 1995, in conformity with
generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets
held for investment purposes and reportable transactions are presented for the
purpose of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974 as amended. The
supplemental schedules have been subjected to the auditing procedures applied
in the audits of the basic financial statements and, in our opinion, are
fairly stated in all material respects in relation to the basic financial
statements taken as a whole.
[KPMG Peat Marwick LLP]
Houston, Texas
June 26, 1996
-13-
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Schedule I
ANADARKO EMPLOYEE SAVINGS PLAN
Item 27a - Schedule of Assets Held for Investment Purposes
December 31, 1995
Shares/Par Fair
Description Value Cost Value
Common Stock:
Anadarko Petroleum Corporation* 1,020,689 $35,898,579 $55,244,793
PanEnergy Corp 94,827 1,850,315 2,643,303
37,748,894 57,888,096
Mutual Funds:
Twentieth Century Growth 280,594 6,168,549 5,440,712
Putnam George A 368,153 5,244,957 5,706,374
11,413,506 11,147,086
Money Market - Nations Prime Fund 11,335,366 11,335,366 11,335,366
Participant Loans
(6% to 10% interest rates) --- 3,353,721 3,353,721
$63,851,487 $83,724,269
*Party-in-interest
S-1
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Schedue IV
<TABLE>
ANADARKO EMPLOYEE SAVINGS PLAN
Item 27d - Schedule of Reportable Transactions
For the Year Ended December 31, 1995
<CAPTION>
Number of Price/ Expenses Historical Revalued Realized
Description Transactions Proceeds Incurred Cost Cost Gain/Loss
<S> <C> <C> <C> <C> <C> <C>
Purchases:
Common Stock
Anadarko Petroleum
Corporation* 29 $ 5,146,547 $7,946 $ --- $ --- $ ---
Money Market - Nations Prime
Fund 167 $15,188,225 $ --- $ --- $ --- $ ---
Sales:
Common Stock
Anadarko Petroleum
Corporation* 20 $ 6,382,816 $8,892 $ 4,518,322 $ 5,023,583 $1,359,233
Money Market - Nations Prime
Fund 144 $11,747,238 $ --- $11,747,238 $11,747,238 $ ---
"Reportable transactions" represent a single or series of related transactions
that exceeds 5% of the fair market value of Plan assets at the beginning of
the year.
*Party-in-interest
</TABLE>
S-2
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Exhibit
INDEPENDENT AUDITORS' CONSENT
The Administrative Committee
Anadarko Employee Savings Plan:
We consent to incorporation by reference in the Registration Statement (File
No. 33-8643) on Form S-8 and S-3 of Anadarko Petroleum Corporation of our
report dated June 26, 1996, relating to the statements of net assets
available for benefits (with fund information) including the related
supplemental schedules, of the Anadarko Employee Savings Plan as of
December 31, 1995 and 1994 and the related statements of changes in net
assets available for benefits (with fund information), for each of the years
in the two-year period ended December 31, 1995, which report appears in the
December 31, 1995 Annual Report on Form 11-K of the Anadarko Employee Savings
Plan.
[KPMG Peat Marwick LLP]
Houston, Texas
June 26, 1996
