Exhibit 99

NEWS

ANADARKO ANNOUNCES THIRD-QUARTER RESULTS

INCREASES FULL-YEAR SALES-VOLUMES GUIDANCE

HOUSTON, Oct. 29, 2012 – Anadarko Petroleum Corporation (NYSE: APC) today announced third-quarter 2012 income attributable to common stockholders of $121 million, or $0.24 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 $301 million, or $0.60 per share (diluted), on an after-tax basis.⁽¹⁾ Cash flow from operating activities in the third quarter of 2012 was approximately $2.229 billion, and discretionary cash flow totaled $1.794 billion.⁽²⁾

THIRD-QUARTER 2012 HIGHLIGHTS

“Anadarko is delivering another year of strong operational results and continued cost reductions, and with this momentum, we are pleased to increase our full-year sales-volumes guidance to a new range of 265 to 267 million BOE with no corresponding increase in capital spending,” Anadarko President and CEO Al Walker said. “During the quarter, we delivered record liquids volumes of 322,000 barrels per day and safely reduced controllable costs on a per-unit basis in every category relative to the third quarter of last year. The significant cash generation year-to-date also enabled us to strengthen the balance sheet by reducing borrowings under our revolving credit facility by $1.5 billion, while maintaining approximately $2.5 billion of cash on hand at the end of the third quarter.”

Anadarko reported total sales volumes of 68 million BOE, or 739,000 BOE per day, during the third quarter. Approximately 1 million BOE of production in the Gulf of Mexico was shut in during the quarter as a result of weather-related downtime. The company achieved record liquids sales volumes

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during the quarter with oil volumes averaging 234,000 barrels per day and natural gas liquids averaging 88,000 barrels per day, equating to a 41,000-barrel-per-day increase in total liquids over the third quarter of 2011. Natural gas volumes averaged approximately 2.5 billion cubic feet per day.

During the quarter, Anadarko continued to ramp up activity in its Wattenberg HZ program in northeast Colorado and in the Eagleford Shale in south Texas, with these fields combining for an increase of more than 800,000 barrels of liquids sales volumes over the second quarter of this year. The Wattenberg HZ program continued to deliver rates of return exceeding 100 percent and, due to the exceptional well performance in both the Niobrara and Codell formations coupled with identified down-spacing opportunities and longer laterals, the company increased the lower end of its estimated resource range by 500 million BOE to a new range of 1.0 billion to 1.5 billion BOE.

Anadarko completed its four-well, initial appraisal program in the Golfinho/Atum complex offshore Mozambique. All four appraisal wells were successful, resulting in the partnership increasing the field’s estimated recoverable natural gas resources to a new range of 15 to 35 trillion cubic feet. In addition, the partnership completed its well-testing program in the Prosperidade complex with multiple tests at Lagosta-2. Each of three zones flowed at facility-constrained rates of around 100 million cubic feet per day (MMcf/d). Anadarko currently has two contracted drillships operating offshore Mozambique, with one conducting flow testing in the Golfinho/Atum complex and the other drilling the Pérola Negra (Black Pearl) prospect near the southern end of the Offshore Area 1 Block.

“As a result of the exceptional drilling and testing results in Mozambique to date, we have identified the resources capable of supplying in excess of 50 million tonnes per annum of LNG (liquefied natural gas). In the coming weeks we expect to announce our FEED (Front-End Engineering and Design) contractors for both onshore processing and offshore gathering, which will focus on the foundation development of two trains,” said Walker. “We look forward to continuing to work with the government of Mozambique and our partners to advance one of the world’s most significant natural gas discoveries in the last 20 years, and one that is capable of enabling Mozambique to become one of the world’s largest exporters of LNG in future years.”

OPERATIONS REPORT

For more details on Anadarko’s operations and exploration program, please refer to the comprehensive report on third-quarter 2012 activity. The report is available at www.anadarko.com on the Investor Relations page.

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CONFERENCE CALL TOMORROW AT 9 A.M. CDT, 10 A.M. EDT

Anadarko will host a conference call on Tuesday, October 30 at 9 a.m. Central Daylight Time (10 a.m. Eastern Daylight Time) to discuss third-quarter results, current operations and the company’s outlook for the remainder of 2012. The dial-in number is 855.812.0464 in the United States, or 970.300.2271 internationally. The confirmation number is 37608290. 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 be available on the website for approximately 30 days following the conference call.

FINANCIAL DATA

Eight pages of summary financial data follow, including current hedge positions and updated financial and production guidance.

⁽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 financial measures provide useful information for investors.

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 approximately 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 and APC Flash Feed updates, please visit www.anadarko.com.

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 drill, develop and commercially operate the drilling prospects identified in this news release, to meet financial and operating guidance, and to successfully plan, build and operate an LNG project. See “Risk Factors” in the company’s 2011 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 “estimated resource range,” “estimated 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, 2011, File No. 001-08968, available from Anadarko at www.anadarko.com or by writing Anadarko at:

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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

Christina Ramirez, christina.ramirez@anadarko.com, 832.636.8687

INVESTORS:

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

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 (non-GAAP), free cash flow (non-GAAP), and adjusted free cash flow (non-GAAP), as well as 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 because it is useful in comparisons of oil and gas exploration and production companies as it excludes fluctuations in assets and liabilities. Management uses free cash flow and adjusted free cash flow to demonstrate the Company’s ability to internally fund capital expenditures and to service or incur additional debt. 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 is a reconciliation of total debt (GAAP) to net debt (non-GAAP). 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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Anadarko Petroleum Corporation

(Unaudited)