Exhibit 99

NEWS

ANADARKO ANNOUNCES 2011 FOURTH-QUARTER

AND FULL-YEAR RESULTS

HOUSTON, Feb. 6, 2012 – Anadarko Petroleum Corporation (NYSE: APC) today announced 2011 fourth-quarter results, reporting a net loss attributable to common stockholders of $358 million, or $.72 per share (diluted). These results include certain items typically excluded by the investment community in published estimates. In total, these items decreased net income by approximately $781 million, or $1.57 per share (diluted) on an after-tax basis.⁽¹⁾ Cash flow from operating activities in the fourth quarter of 2011 includes a $4 billion payment to settle the BP dispute. This resulted in negative cash flow from operating activities for the fourth quarter of $2.087 billion. Discretionary cash flow for the quarter totaled $1.752 billion. ⁽²⁾

For the year ended Dec. 31, 2011, Anadarko reported a net loss from continuing operations attributable to common stockholders of $2.649 billion, or $5.32 per share (diluted), and full-year 2011 cash flow from operating activities was $2.505 billion, both of which were impacted by the BP settlement and payment. Discretionary cash flow totaled $7.178 billion.

2011 OPERATIONAL HIGHLIGHTS

“During 2011, we continued to demonstrate the power of Anadarko’s capital-efficient portfolio by achieving sales volumes at the high end of guidance with capital spending at the low end of the guidance range. We also generated significant discretionary cash flow and delivered record

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sales volumes, strong reserve additions at very competitive costs, and a leading deepwater exploration and appraisal drilling success rate,” said Anadarko Chairman and CEO Jim Hackett. “By continuing to focus capital investments on our liquids-rich opportunities, we achieved 10-percent year-over-year growth in liquids sales volumes, highlighted by production records in the Eagleford Shale, Wattenberg field, Greater Natural Buttes area, Bone Spring and certain other U.S. onshore resource plays. We successfully unitized and sanctioned the Lucius project in the Gulf of Mexico, with anticipated first oil in 2014. Also in the Gulf, we’ve continued to advance the Caesar/Tonga development toward first oil, which is expected by mid-year 2012. Internationally, the El Merk project in Algeria is about 88-percent complete, with significant oil volumes expected near year end, and we continue to de-risk and advance growth opportunities offshore Mozambique and Ghana. The depth and performance of our portfolio continues to keep us on the path toward meeting our strategic objectives.”

2011 SALES VOLUMES AND PROVED RESERVES

Anadarko’s full-year 2011 sales volumes of natural gas, crude oil and natural gas liquids (NGLs) totaled a record 248 million BOE, or 680,000 BOE per day, which was an increase of 6 percent over full-year 2010 sales volumes of 235 million BOE. Fourth-quarter 2011 sales volumes of natural gas, crude oil and NGLs totaled 63 million BOE, or 683,000 BOE per day, a 12-percent increase over the fourth quarter of 2010.

Anadarko added 392 million BOE of proved reserves in 2011 and incurred costs of approximately $5.561 billion associated with its oil and natural gas exploration and development activities.⁽²⁾ The company estimates its proved reserves at year-end 2011 totaled 2.54 billion BOE, with approximately 71 percent of its reserves in the proved developed category and approximately 29 percent categorized as proved undeveloped. At year-end 2011, Anadarko’s proved reserves were comprised of approximately 55 percent natural gas and 45 percent liquids.

2011 U.S. ONSHORE HIGHLIGHTS

Anadarko’s U.S. onshore operating areas generated an overall year-over-year increase in sales volumes of more than 11 percent, highlighted by growth of nearly 200 percent in its shale plays and record volumes in the higher-margin, liquids-rich Wattenberg, Greater Natural Buttes and Bone Spring areas. At year-end 2011, Anadarko’s shale plays accounted for more than 10 percent of the company’s total sales volumes, compared to less than 1 percent at the beginning of 2010, and represented approximately 5 percent of the company’s total proved reserves.

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In November 2011, Anadarko updated the resource potential of its horizontal Niobrara and Codell opportunities in the liquids-rich Wattenberg field of northeastern Colorado. Based upon the results of this horizontal drilling program, the company announced a net resource potential within the Wattenberg field of 500 million to 1.5 billion BOE, with significant additional potential outside the field boundaries. Anadarko is currently operating five horizontal rigs in the Wattenberg field and two additional horizontal rigs that are evaluating liquids-rich opportunities in Wyoming’s Powder River Basin. To enhance the strategic alignment of its upstream and midstream assets in Colorado, Anadarko acquired the Wattenberg Plant in March 2011. This acquisition, combined with Western Gas Partners, LP’s (WES) acquisition of the Platte Valley Plant and WES’s ownership of the Fort Lupton Plant, along with other midstream assets, is enabling continued growth and value-enhancing opportunities within the Wattenberg field and greater DJ Basin.

Anadarko accelerated production growth in the liquids-rich Eagleford Shale during 2011, exiting the year with gross volumes of approximately 77,000 BOE per day in the play, with a liquids yield of more than 65 percent. The growth in this highly economic field was aided by the company’s entry into a $1.6 billion joint venture and major expansions in midstream infrastructure, and strategic service agreements.

2011 EXPLORATION HIGHLIGHTS

In 2011, Anadarko’s deepwater exploration and appraisal programs delivered an extraordinary success rate of 80 percent, with discoveries offshore Mozambique, offshore Ghana and in the Gulf of Mexico.

Through additional drilling offshore Mozambique, Anadarko and its partners’ exploration efforts more than tripled the original estimate of recoverable natural gas resources to a range of 15 to 30-plus Tcf, making this area one of the world’s most important natural gas discoveries over the last 10 years. To date, the partnership has announced a total of seven successful wells in the discovery complex located in the Offshore Area 1 of the Rovuma Basin. To commercialize the discovery area, the partnership continues to advance the development of a liquefaction facility initially designed for two, 5-million-tonne-per-annum trains.

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In the Deepwater Tano Block offshore Ghana, Anadarko and its partners continued to advance the Tweneboa, Enyenra and Ntomme (TEN) complex toward a plan of development with four successful delineation wells during the year. On the adjacent West Cape Three Points Block, the partners announced three discoveries and one successful appraisal well during the year. With additional appraisal success, these discoveries have the potential to anchor new development projects on the block.

The company has resumed an active deepwater exploration and appraisal program in the Gulf of Mexico and made its first post-moratorium discovery at the Cheyenne East prospect. The well is being tied back to the Independence Hub facility, with production expected during the first quarter of 2012. In addition, Anadarko recently received the necessary permits to drill its Spartacus prospect, located near the company’s sanctioned Lucius development.

2011 FINANCIAL HIGHLIGHTS

“We generated strong discretionary cash flow of almost $7.2 billion in 2011, primarily driven by the growth of higher-margin liquids volumes,” said Hackett. “This growth resulted in the generation of $625 million in free cash flow⁽²⁾⁽³⁾ during the year, even taking into account the $880 million associated with strategic acquisitions of two natural gas processing plants. We believe the depth and quality of Anadarko’s diverse portfolio will continue to provide for significant future cash generation, as well as the flexibility to prudently allocate capital during this period of low natural gas prices.

“In addition, we reached a settlement with BP over the 2010 Deepwater Horizon event, removing significant uncertainties for our stakeholders and returning investor and management focus to the value-creation opportunities in our portfolio. We look forward to updating our stakeholders regarding our capital program for 2012 and plans for value-based growth at our upcoming Investor Conference scheduled for March 13 in The Woodlands,” added Hackett.

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During the quarter, Anadarko remitted approximately $4 billion to BP as part of its settlement agreement and received insurance proceeds of approximately $138 million associated with the Deepwater Horizon events. Also included in the items affecting comparability as described on page 7 of this release, the company recorded a non-cash price-related impairment of approximately $1.5 billion with no associated impact on proved reserves, and a non-cash charge of $250 million relating to the Tronox Adversary Proceeding.

OPERATIONS REPORT

For more details on Anadarko’s 2011 operations, please refer to the comprehensive report on fourth-quarter 2011 activity. The report is available at www.anadarko.com on the Investor Relations page.

CONFERENCE CALL TOMORROW AT 8 A.M. CST, 9 A.M. EST

Anadarko will host a conference call on Tuesday, February 7, at 8 a.m. Central Standard Time (9 a.m. Eastern Standard Time) to discuss fourth-quarter and year-end results. The dial-in number is 888.679.8035 in the United States or 617.213.4848 for international calls. The confirmation number is 64650969. For complete instructions on how to participate in the conference call, or to listen to the live audio webcast and slide presentation, please visit www.anadarko.com. A replay of the call will also be available on the Web site for approximately 30 days following the conference call.

FINANCIAL DATA

Seven pages of summary financial data follow, including proved reserves, costs incurred and the company’s current hedge positions.

Anadarko Petroleum Corporation’s mission is to deliver a competitive and sustainable rate of return to shareholders by exploring for, acquiring and developing oil and natural gas resources vital to the world’s health and welfare. As of year-end 2011, the company had 2.54 billion barrels-equivalent of proved reserves, making it one of the world’s largest independent exploration and production companies. For more information about Anadarko, please visit www.anadarko.com.

⁽¹⁾ See the accompanying table for details of certain items affecting comparability.

⁽²⁾ See the accompanying table for a reconciliation of GAAP to non-GAAP financial measures and a statement indicating why management believes the non-GAAP measures provide useful information for investors.

⁽³⁾ Free cash flow includes a $321 million current tax benefit associated with the Deepwater Horizon settlement.

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This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that such expectations will prove to have been correct. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this news release, including Anadarko’s ability to finalize year-end reserves, drill, develop and commercially operate the drilling prospects identified in this news release, successfully plan, build and operate an LNG project, and successfully defend itself against remaining claims relating to the Deepwater Horizon event (including, but not limited to fines, penalties and punitive damages). See “Risk Factors” in the company’s 2010 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Anadarko undertakes no obligation to publicly update or revise any forward-looking statements.

Cautionary Note to U.S. Investors: Effective Jan. 1, 2010, the United States Securities and Exchange Commission (“SEC”) permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC’s definitions for such terms. Anadarko uses certain terms in this news release, such as “resource potential,” “net resource potential,” “recoverable resource estimate,” “recoverable natural gas resources,” and similar terms that the SEC’s guidelines strictly prohibit Anadarko from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in Anadarko’s Form 10-K for the year ended Dec. 31, 2010, File No. 001-08968, available from Anadarko at www.anadarko.com or by writing Anadarko at: Anadarko Petroleum Corporation, 1201 Lake Robbins Drive, The Woodlands, Texas 77380, Attn: Investor Relations. This form may also be obtained by contacting the SEC at 1-800-SEC-0330.

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ANADARKO CONTACTS

MEDIA:

John Christiansen, john.christiansen@anadarko.com, 832.636.8736

Brian Cain, brian.cain@anadarko.com, 832.636.3404

INVESTORS:

John Colglazier, john.colglazier@anadarko.com, 832.636.2306

Clay Gaspar, clay.gaspar@andarko.com, 832.636.2541

Wayne Rodrigs, wayne.rodrigs@anadarko.com, 832.636.2305

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Anadarko Petroleum Corporation

Certain Items Affecting Comparability

Reconciliation of GAAP to Non-GAAP Measures

Below are reconciliations of cash provided by operating activities (GAAP) to discretionary cash flow from operations and free cash flow (non-GAAP), and net income (loss) attributable to common stockholders (GAAP) to adjusted net income (loss) (non-GAAP) as required under Regulation G of the Securities Exchange Act of 1934. Management uses discretionary cash flow from operations and free cash flow to demonstrate the Company’s ability to internally fund capital expenditures and to service or incur additional debt. It is useful in comparisons of oil and gas exploration and production companies because it excludes fluctuations in assets and liabilities. Management uses adjusted net income (loss) to evaluate the Company’s operational trends and performance.

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Anadarko Petroleum Corporation

Reconciliation of GAAP to Non-GAAP Measures

Presented below are reconciliations of costs incurred (GAAP) to oil and gas exploration and development costs (non-GAAP) and total debt (GAAP) to net debt (non-GAAP). Management believes oil and gas exploration and development costs is a more accurate reflection of the expenditures incurred during the current year, excluding certain obligations to be paid in future periods. Management uses net debt as a measure of the Company’s outstanding debt obligations that would not be readily satisfied by its cash and cash equivalents on hand.

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Anadarko Petroleum Corporation

(Unaudited)

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Anadarko Petroleum Corporation

(Unaudited)

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