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Exhibit 99.4
[Letterhead of Goldman, Sachs & Co.]
CONSENT OF GOLDMAN, SACHS & CO.
May 30, 2000
Board of Directors
Union Pacific Resources Group Inc.
777 Main Street
Fort Worth, Texas 76102
Re: Registration Statement on Form S-4 of Anadarko Petroleum Corporation
Ladies and Gentlemen:
Reference is made to our opinion letter dated April 2, 2000 with respect to the
fairness from a financial point of view to the holders of the outstanding shares
of Common Stock, no par value, of Union Pacific Resources Group Inc. ("UPR") of
the Exchange Ratio (as defined in our opinion letter) pursuant to the Agreement
and Plan of Merger, dated as of April 2, 2000, between Anadarko Petroleum
Corporation and UPR.
The foregoing opinion letter is provided for the information and assistance of
the Board of Directors of UPR in connection with its consideration of the
transaction contemplated therein and is not to be used, circulated, quoted or
otherwise referred to for any other purpose, nor is it to be filed with,
included in or referred to in whole or in part in any registration statement,
proxy statement or any other document, except in accordance with our prior
written consent. We understand that UPR has determined to include our opinion in
the above-referenced Registration Statement.
In that regard, we hereby consent to the reference to the opinion of our Firm
under the captions "Summary -- Opinions of Union Pacific Resources' Financial
Advisor", "The Merger -- Background of the Merger" and "The Merger -- Opinion of
Union Pacific Resources' Financial Advisor" and to the inclusion of the
foregoing opinion in the Joint Proxy Statement-Prospectus included in the
above-mentioned Registration Statement. In giving such consent, we do not
thereby admit that we come within the category of persons whose consent is
required under Section 7 of the Securities Act of 1933 or the rules and
regulations of the Securities and Exchange Commission thereunder.
Very truly yours,
/s/ Goldman, Sachs & Co.
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(GOLDMAN, SACHS & CO.)
