Noncontrolling Interests

12 Months Ended

Dec. 31, 2015

Noncontrolling Interest Items [Abstract]

Noncontrolling Interests

20. Noncontrolling Interests

WGP, a publicly traded consolidated subsidiary, is a limited partnership that owns interests in WES. In 2015, Anadarko sold 2.3 million WGP common units to the public and raised net proceeds of $130 million and in 2014 sold approximately 6 million WGP common units to the public and raised net proceeds of $335 million. In June 2015, Anadarko issued 9.2 million TEUs, which include an equity component that may be settled in WGP common units. For additional disclosure of the TEU effect on noncontrolling interests, see Note 10—Tangible Equity Units. At December 31, 2015, Anadarko’s ownership interest in WGP consisted of an 87.3% limited partner interest and the entire non-economic general partner interest. The remaining 12.7% limited partner interest in WGP was owned by the public.

WES, a publicly traded consolidated subsidiary, is a limited partnership that acquires, owns, develops, and operates midstream assets. WES issued approximately 874 thousand common units to the public and raised net proceeds of $57 million in 2015, issued approximately 10 million common units to the public and raised net proceeds of $691 million in 2014, and issued approximately 12 million common units to the public and raised net proceeds of $725 million in 2013. In addition, WES issued 11 million Class C units to Anadarko in 2014 to partially fund the DBM acquisition. These units will receive quarterly distributions in the form of additional Class C units until the end of 2017, unless WES elects to convert the units to common units earlier or Anadarko elects to extend the conversion date. During 2015, WES distributed 498 thousand Class C units to Anadarko. At December 31, 2015, WGP’s ownership interest in WES consisted of a 34.6% limited partner interest, the entire 1.8% general partner interest, and all of the WES incentive distribution rights. At December 31, 2015, Anadarko also owned an 8.5% limited partner interest in WES through other subsidiaries’ ownership of common and Class C units. The remaining 55.1% limited partner interest in WES was owned by the public.