<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema"><Version>2.2.0.25</Version><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><ReportLongName>1310 - Disclosure - Summary of Significant Accounting Policies (Policies)</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption /><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>1/1/2010 - 12/31/2010
USD ($) / shares

USD ($)

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The Company also engages in the gathering, processing&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;and treating of natural gas, and transporting natural gas, crude oil and NGLs. The Company also participates in the hard minerals business through its ownership of non-operated joint ventures and royalty arrangements. 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presentation.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Basis of Presentation&amp;#160;&amp;#160;&amp;#160;The Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Disclosure related to the basis of presentation of financial statements and use of estimates.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Basis of Presentation</Label></Row><Row><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>apc_UseOfEstimatesPolicyTextBlock</ElementName><ElementPrefix>apc</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Provides an entity's explanation that the preparation of financial statements in conformity with generally accepted...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; 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Management &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;evaluates its estimates and related assumptions regularly&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, including those related to the value of properties and equipment, proved reserves, goodwill, intangible assets, asset retirement obligations, litigation reserves, environmental liabilities, pension assets and liabilities and costs, income taxes, and fair values. Changes in facts and circumstances or additional information may result in revised estimates and actual results may di&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ffer from these estimates.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Use of Estimates&amp;#160;&amp;#160;&amp;#160;In preparing financial statements in accordance with accounting principles generally accepted in the United States,</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Provides an entity's explanation that the preparation of financial statements in conformity with generally accepted accounting principles requires the use of management estimates. Estimates used in the determination of carrying amounts of assets or liabilities, or in disclosure of gain or loss contingencies should be disclosed if known information available prior to issuance of the financial statements indicates that both of these criteria are met: (1) It is at least reasonably possible that the estimate of the effect on the financial statements of a condition, situation, or set of circumstances that existed at the date of the financial statements will change in the near term (less than one year from the date of issuance) due to one or more future confirming events, and (2) The effect of the change would be material to the financial statements. The disclosure should indicate the nature of the uncertainty and include an indication that it is at least reasonably possible that a change in the estimate will occur in the near term. Disclosure of the factors that cause the estimate to be sensitive to change also is encouraged. Entities also may identify those areas that are subject to significant estimates.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Use of Estimates</Label></Row><Row><Id>8</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>apc_FairValuePolicyTextBlock</ElementName><ElementPrefix>apc</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Describes an entity's accounting policy for determining the fair value of its assets and liabilities.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Fair Value&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Fair value is defined as the price that would be received to sell an asset or &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;the &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;price paid to transfer a liability in an orderly transaction between market participants at the measurement date. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;I&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;nputs used in determining fair value &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;are characterized &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;according to a hierarchy that prioritizes those inputs based on the degree to which they are observable. The three &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;input &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;levels of the fair-value hierarchy are as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&amp;#160;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:24px;"&gt;Level 1&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;I&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;nputs represent quoted prices in active markets for identical asset&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s or liabilities (for example,&lt;br/&gt;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;exchange-traded commodity derivatives).&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&amp;#160;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:24px;"&gt;Level 2&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;I&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;nputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly (for example, quoted market prices for similar assets or liabilities in active markets or quoted market prices for identical assets or liabilities in markets not considered to be active, inputs other than quoted prices that are observable for the asset or liability, or market-corroborated inputs).&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&amp;#160;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:24px;"&gt;Level 3&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;I&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;nputs that are not observable from objective sources, such as the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s internally developed assumptions used in pricing an asset or liability (for example, an estimate of future cash flows used in the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s internally developed present value of future cash flows model that underlies the fair-value measurement).&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top: 0pt; margin-bottom: 0pt;'&gt;&lt;/p&gt;&lt;p style='margin-top:12pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;In determining fair value, the Company utilizes observable market data when available, or models that incorporate observable market data. In addition to market information, the Company incorporates transaction-specific details that, in management&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s judgment, market participants would take into account in measuring fair value. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;In arriving at fair-value estimates, the Company utilizes the most observable inputs available for the valuation technique employed. If a fair-value measurement reflects inputs at multiple levels within the hierarchy, the fair-value measurement is characterized based on the lowest level of input that is significant to the fair-value measurement. 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fair value. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The fair value of debt is the estimated amount the Company would have to pay to repurchase its debt, including any premium or discount attributable to the difference between the stated interest rate and market rate of interest at &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;each&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; balance sheet date. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Debt fair &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;values, as disclosed in Note 11&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;are based on quoted market prices &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;for identical instruments, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;if&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; 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Crude oil and condensate are sold &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;primarily &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;to marketers, gatherers and refiners. NGLs are sold &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;primarily &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;to direct end-users, refiners and marketers. The majority of the Company's receivables are paid within two months following the month of purchase.&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;In 2010, 2009 and 2008, there were no sales to individual customers that exceeded 10% of the Company's total sales revenues.&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The Company recognizes sales revenues for &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;natural &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;gas, oil and condensate, and NGLs based on the amount of each product sold to purchasers when delivery to the purchaser has occurred and title has transferred. This occurs when product has been delivered to a pipeline or a tanker lifting has occurred. The Company follows the sales method of accounting for natural-gas production imbalances. If the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s sales volumes for a well exceed the estimated remaining recoverable reserves of the well, a liability is recognized. No receivables are recorded for those wells on which the Company has taken less than its proportionate share of production. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The Company enters into buy/sell arrangements for a portion of its crude-oil production. Under these arrangements, barrels are sold at prevailing market prices at a location, and in an additional transaction entered into in contemplation of the sale transaction with the same third party, barrels are re-purchased at a different location at the market prices prevailing at that location. The barrels are then sold at prevailing market prices at the re-purchase location. These arrangements are often required by private transporters. In these transactions, the re-purchase price is more than the original sales price with the difference representing a transportation fee. Other buy/sell arrangements are entered in order to shift the ultimate sales point of the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s production to a more liquid location, thereby avoiding potential marketing fees and other market-price reductions. In these transactions, the sales price in the field and the re-purchase price are each at prevailing market prices at the respective locations. Anadarko uses these buy/sell arrangements in its marketing and trading activities and, as such, reports these transactions in the &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Consolidated Statements of Income &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;on a net basis. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Anadarko &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;provides gathering, processing,&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;treating and transportation services pursuant to a variety of contracts. Under these arrangements, the Company receives fees, or retains a percentage of products or a percentage of the proceeds from the sale of products and recognizes revenue at the time the services are performed or product is sold. These revenues are included in gathering, processing and marketing sales.&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top: 0pt; margin-bottom: 0pt;'&gt;&lt;/p&gt;&lt;p style='margin-top:12pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Marketing margins related to the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s production are included in &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;natural-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;gas sales, oil and condensate sales&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;,&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; and NGLs sales. Marketing margins related to sales of commodities purchased from third parties, as well as realized and unrealized gains and losses on such marketing activities, are included in gathering, processing and marketing sales.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Revenues&amp;#160;&amp;#160;&amp;#160;The Company's natural gas is sold primarily to interstate and intrastate natural-gas pipelines, direct end-users, industrial users,</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction should be disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 13
 -Section B
 -Paragraph Question 1

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 22
 -Paragraph 8, 12, 13

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Revenues</Label></Row><Row><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_CashAndCashEquivalentsPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Cash Equivalents&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;The Company considers all highly liquid investments &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;with a maturity of three months or less when purchased&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; to be cash equivalents.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Cash Equivalents&amp;#160;&amp;#160;&amp;#160;The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>A description of a company's cash and cash equivalents accounting policy.  An entity shall disclose its policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Cash includes currency on hand as well as demand deposits with banks or financial institutions.  It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty.  In addition, cash equivalents include short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.  Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment.  For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents.  However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months.  For a bank, may include explanation and amount of requirement to maintain reserves against deposits.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Financial Reporting Release (FRR)
 -Number 203
 -Paragraph 02-03

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 1
 -Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 7, 8, 9, 10

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Technical Practice Aid (TPA)
 -Number 2110
 -Paragraph 6

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Cash Equivalents</Label></Row><Row><Id>11</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ReceivablesPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Allowance for &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;"&gt;Uncollectible Accounts&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The Company conducts credit analyses of customers prior to making any sales to new customers or increasing credit for existing customers. Based &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;on&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; these analyses, the Company may require a standby letter of credit or a financial guarantee. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The Company charges uncollectible accounts receivable against the allowance for uncollectible accounts when it determines collection will no longer be pursued. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;At&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; December 31, 2010 and 2009, accounts receivable are shown net of allowance for uncollectible accounts of $&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;9&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;million and $&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;11&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;million, respectively.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Allowance for Uncollectible Accounts&amp;#160;&amp;#160;&amp;#160;The Company conducts credit analyses of customers prior to making any sales to new customers or</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 3-5
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 114
 -Paragraph 20
 -Subparagraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 92-5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 01-6
 -Paragraph 13

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Allowance for Accounts Receivable</Label></Row><Row><Id>12</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_InventoryPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Inventories&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Commodity inventories are stated at the lower of average cost or market.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Inventories&amp;#160;&amp;#160;&amp;#160;Commodity inventories are stated at the lower of average cost or market.</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policies covering its major classes of inventories, bases of stating inventories (for example lower of cost or market), methods by which amounts are added and removed from inventory classes (for example FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this description includes the nature of the cost elements included in inventory.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Financial Reporting Release (FRR)
 -Number 206
 -Chapter 2
 -Paragraph b
 -Subparagraph i, ii

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 43
 -Chapter 4
 -Paragraph 3, 5-10, 15, 16, 17

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 6
 -Subparagraph a
 -Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 43
 -Chapter 3
 -Section A
 -Paragraph 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 81-1
 -Paragraph 69-75

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Inventories</Label></Row><Row><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Properties and Equipment&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Properties and equipment are stated at cost less accumulated depreciation, depletion and amortization &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;expense &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;(DD&amp;amp;A). Costs of improvements that appreciably improve the efficiency or productive capacity of existing properties or extend their lives are capitalized. Maintenance and repairs are expensed as incurred. Upon retirement or sale, the cost of properties and equipment, net of the related accumulated DD&amp;amp;A, is removed and, if appropriate, gain or loss is recognized in gains (losses) on divestitures and other, net. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&amp;#160;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;font-style:italic;margin-left:0px;"&gt;Oil and Gas Properties&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;The Company applies the successful efforts method of accounting for oil and gas properties. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;E&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;xploration costs such as exploratory geological and geophysical costs, delay rentals and exploration overhead are charged against earnings as incurred. Acquisition costs and costs of drilling exploratory wells are capitalized pending determination of whether proved reserves can be attributed to the area as a result of drilling the well. If management determines that commercial quantities of hydrocarbons have not been discovered, capitalized costs associated with exploratory wells are charged to exploration expense. Acquisition costs of unproved &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;properties&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; are assessed for impairment during the holding period and transferred to proved oil and gas properties to the extent &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;the costs are &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;associated with successful exploration activities. Significant undeveloped leases are assessed individually for impairment, based on the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s current exploration plans, and a valuation allowance is provided if impairment is indicated. Unproved oil and gas properties with individually insignificant lease acquisition costs are amortized on a group basis (thereby establishing a valuation allowance) over the average terms of the leases, at rates that provide for full amortization of unsuccessful leases upon lease expiration or abandonment. Costs of expired or abandoned leases are charged against the valuation allowance, while costs of productive leases are transferred to proved oil and gas properties. Costs of maintaining and retaining &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;unproved properties&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, as well as amortization of individually insignificant leases and impairment of unsuccessful leases, are included in exploration expense. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&amp;#160;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;font-style:italic;margin-left:0px;"&gt;Capitalized Interest&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;Interest is capitalized as part of the historical cost of developing and constructing assets for significant projects. Significant oil and gas investments in unproved properties, significant exploration and development projects for which DD&amp;amp;A is not currently recognized, and exploration or development activities that are in progress qualify for interest capitalization. Interest is capitalized until the asset is ready for service. Capitalized interest is determined by multiplying the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s weighted-average borrowing cost on debt by the average amount of qualifying costs incurred. Once an asset subject to interest capitalization is completed and placed in service, the associated capitalized interest is expensed through depreciation or impairment, along with other capitalized costs related to that asset.&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top: 0pt; margin-bottom: 0pt;'&gt;&lt;/p&gt;&lt;p style='margin-top:12pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;font-style:italic;margin-left:0px;"&gt;Asset Retirement Obligations&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;A&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;sset retirement obligation&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; (ARO&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;)&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; associated with the retirement of tangible long-lived asset&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;are&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; recognized as liabilit&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ies&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; with an increase to the carrying amounts of the related long-lived assets&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; in the period incurred. The cost of the tangible asset, including the asset retirement cost, is depreciated over the useful life of the asset. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ARO&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;are&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligation&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; discounted at the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s credit-adjusted risk-free interest rate. Accretion expense is recognized over time as the discounted liabilit&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ies&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;are&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; accreted to &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;their&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; expected settlement value. If estimated future cost&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; of &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ARO&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; change, an adjustment is recorded to both the asset retirement obligation and the long-lived asset. Revisions to estimated &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;AROs&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&amp;#160;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;font-style:italic;margin-left:0px;"&gt;Impairments&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;Properties and equipment, net of salvage value, are reviewed for impairment at the lowest level for which identifiable cash flows are independent of cash flows from other assets&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, and&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; when facts and circumstances indicate that net book values may not be recoverable. In performing this review, an undiscounted cash flow test is performed on the impairment unit. If the sum of the undiscounted estimated future net cash flows is less than the net book value of the property, an impairment loss is recognized for the excess, if any, of the property&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s net book value over its estimated fair value. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&amp;#160;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;font-style:italic;margin-left:0px;"&gt;Depreciation, Depletion and Amortization&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;Costs of drilling and equipping successful wells, costs to construct or acquire facilities other than offshore platforms and associated asset retirement costs are depreciated using the unit-of-production &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;(UOP) &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;method based on total estimated proved developed oil and gas reserves. Costs of acquiring proved properties, including leasehold acquisition costs transferred from unproved &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;properties&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; and costs to construct or acquire offshore platforms and associated asset retirement costs, are depleted using the &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;UOP&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; method based on total estimated proved developed and undeveloped reserves. Mineral properties are &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;also &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;depleted using the &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;UOP&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; method. All other properties are stated at historical acquisition cost, net of impairment&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, and depreciated using the straight-line method over the useful lives of the assets, which range from &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;3&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; to &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;15&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; years for furniture and equipment, up to &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;40&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; years for buildings, and up to &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;47&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; years for gathering facilities.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Properties and Equipment&amp;#160;&amp;#160;&amp;#160;Properties and equipment are stated at cost less accumulated depreciation, depletion and amortization expense</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 43
 -Chapter 9
 -Section C
 -Paragraph 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 144
 -Paragraph 7

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 22
 -Paragraph 12, 13

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 34
 -Paragraph 8, 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 13
 -Subparagraph a
 -Article 5

Reference 6: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 5
 -Subparagraph d

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Properties and Equipment</Label></Row><Row><Id>14</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Goodwill and Other Intangible Assets&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The Company tests goodwill for impairment annually, or more often as facts and circumstances warrant. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;During 2009, the Company changed its annual goodwill impairment testing date from January 1 to October 1&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, to ensure the completion of the annual goodwill impairment test prior to the end of the annual reporting period, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;and to&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; align impairment testing procedures with year-end financial reporting. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Changes in goodwill may result from, among other things, impairments, future acquisitions or future divestitures. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;See Note&amp;#160;6.&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Other intangible assets represent contractual rights obtained in connection with a business combination that had favorable contractual terms relative to market &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;at&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; the acquisition date. Other intangible assets are amortized over their estimated useful lives and are reviewed for impairment whenever impairment indicators are present. See Note&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;6&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Goodwill and Other Intangible Assets&amp;#160;&amp;#160;&amp;#160;The Company tests goodwill for impairment annually, or more often as facts and circumstances warrant.</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 144
 -Paragraph 7-18, 22

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 4, 11-23, 26, 34

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Goodwill and Other Intangible Assets</Label></Row><Row><Id>15</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_DerivativesPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Derivative Instruments&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Anadarko &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;uses&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; derivative instruments &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;to manage its exposure to cash-flow variability resulting from commodity price and interest-rate risk. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;All derivatives that do not satisfy the normal purchases and sales exception criteria are carried on the balance sheet at fair value and are included in other current assets, other assets, accrued expenses or other long-term liabilities, depending on the derivative position and the expected timing of settlement. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Where&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;the Company has the contractual right and intends to net settle, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;derivative assets and liabilities&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; are reported&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; on a net basis.&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top: 0pt; margin-bottom: 0pt;'&gt;&lt;/p&gt;&lt;p style='margin-top:12pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Rea&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;lized and unrealized gains and losses on derivative instruments are recognized on a current basis. Net derivative losses attributable to derivatives previously subject to hedge accounting reside in accumulated other comprehensive income and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;will be&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; reclassified to earnings in future periods as the economic transactions to which the derivatives relate affect earnings. 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Disclosure may include: (1) Each method used to account for derivative financial instruments and derivative commodity instruments ("derivatives"); (2) the types of derivatives accounted for under each method; (3) the criteria required to be met for each accounting method used, including a discussion of the criteria required to be met for hedge or deferral accounting and accrual or settlement accounting (for example: whether and how risk reduction, correlation, designation, and effectiveness tests are applied); (4) the accounting method used if the criteria specified for hedge accounting are not met; (5) the method used to account for termination of derivatives designated as hedges or derivatives used to affect directly or indirectly the terms, fair values, or cash flows of a designated item; (6) the method used to account for derivatives when the designated item matures, is sold, is extinguished, or is terminated. In addition, the method used to account for derivatives designated to an anticipated transaction, when the anticipated transaction is no longer likely to occur; and (7) where and when derivatives, and their related gains (losses) are reported in the statement of financial position, cash flows, and results of operations and (8) an accounting policy decision to offset fair value amounts with counterparties. An entity should also consider describing its embedded derivatives, and the method(s) used to determine the fair values of derivatives and any significant assumptions used in such valuations.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 133
 -Paragraph 44

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 08
 -Paragraph n
 -Article 4

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 39
 -Paragraph 10

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Derivative Instruments</Label></Row><Row><Id>16</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>apc_AccountsPayablePolicyTextBlock</ElementName><ElementPrefix>apc</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Describes the entity's accounting policies for accounts payable.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; 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are liabilities of $&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;259&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;million and $&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;252&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;million, respectively, representing the amount by which checks issued, but not presented to the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s banks for collection, exceed balances in applicable bank accounts, and changes in these liabilities are reflected in cash flows from financing activities.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Accounts Payable&amp;#160;&amp;#160;&amp;#160;Included in accounts payable at December 31, 2010 and 2009, are liabilities of $259&amp;#160;million and $252&amp;#160;million,</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes the entity's accounting policies for accounts payable.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Accounts Payable</Label></Row><Row><Id>17</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_LegalCostsPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; 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Except for legal contingencies acquired in a business combination, which are recorded at fair value, the Company accrues losses associated with legal claims when such losses are probable and reasonably estimable. Estimates are adjusted as additional information becomes available or circumstances change. Legal defense costs associated with loss contingencies are expensed in the period incurred. See Note &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;2&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; and Note &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;15&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Legal Contingencies&amp;#160;&amp;#160;&amp;#160;The Company is subject to legal proceedings, claims and liabilities that arise in the ordinary course of its business.</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for legal costs incurred to protect or defend the entity's assets and rights, or to obtain assets, including monetary damages, or to obtain rights.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 22
 -Paragraph 8

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Legal Contingencies</Label></Row><Row><Id>18</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>apc_EnvironmentalContingenciesTextBlock</ElementName><ElementPrefix>apc</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Describes the accounting policy for (1) legal obligations associated with the disposal or removal of a long-lived asset from...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Environmental Contingencies&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Except for environmental contingencies acquired in a business combination, which are recorded at fair value, the Company accrues losses associated with environmental obligations when such losses are probable and can be reasonably estimated. 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This accounting policy may address (1) whether the related remediation costs are expensed or capitalized, (2) whether the obligation is measured on a discounted basis, (3) the event, situation, or set of circumstances that generally triggers recognition of loss contingencies arising from the entity's environmental remediation-related obligations, and (4) the timing of recognition of any recoveries.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Environmental Contingencies</Label></Row><Row><Id>19</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>apc_PensionPlansOtherPostretirementBenefitsAndEmployeeSavingsPlansPolicyTextBlock</ElementName><ElementPrefix>apc</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Describes an entity's accounting policy for its pension plans, other postretirement benefits and employee savings plans. This...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Pension Plans, Other Postretirement Benefits and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;"&gt;Defined-Contribution&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;"&gt; Plans&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;The Company measures pension plan assets at fair value. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Defined-benefit plan obligations and costs&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; are actuarially &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;determined&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, incorporating the use of various assumptions. 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See Note &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;20&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Pension Plans, Other Postretirement Benefits and Defined-Contribution Plans&amp;#160;&amp;#160;&amp;#160;The Company measures pension plan assets at fair value.</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for its pension plans, other postretirement benefits and employee savings plans. This disclosure may address (1) the types of plans sponsored by the entity, and the benefits provided by each plan (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Pension Plans, Other Postretirement Benefits and Defined-Contribution Plans</Label></Row><Row><Id>20</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>apc_NoncontrollingInterestPolicyTextBlock</ElementName><ElementPrefix>apc</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Describes the entity's accounting policies for noncontrolling interests.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Noncontrolling Interests&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;Noncontrolling interests represent third-party ownership in the net assets of the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s consolidated subsidiaries and are presented as a component of equity. Changes in Anadarko&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s ownership interests in subsidiaries that do not result in deconsolidation are recognized in equity. See Note &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;7&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Noncontrolling Interests&amp;#160;&amp;#160;&amp;#160;Noncontrolling interests represent third-party ownership in the net assets of the Company's consolidated subsidiaries</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes the entity's accounting policies for noncontrolling interests.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Noncontrolling Interests</Label></Row><Row><Id>21</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncomeTaxPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Income Taxes&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;The Company files various &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;United States&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; federal, state and foreign income tax returns. Deferred federal, state and foreign income taxes are provided on temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. The Company recognizes a tax benefit from an uncertain &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;tax &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;position when it is more likely than not that the position will be sustained upon examination, based on the technical merits of the position&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;. The&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; tax benefit &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;recorded is equal to the largest amount &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;that is greater than 50% likely &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;to be&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; realized &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;through final&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; settlement with a taxing authority. See Note &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;17&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Income Taxes&amp;#160;&amp;#160;&amp;#160;The Company files various United States federal, state and foreign income tax returns. Deferred federal, state and foreign income</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 4
 -Paragraph 11

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 48
 -Paragraph 20

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 6-34, 43, 47, 49

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Income Taxes</Label></Row><Row><Id>22</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>apc_ShareBasedCompensationPolicyTextBlock</ElementName><ElementPrefix>apc</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>This element describes an entity's accounting policy for stock option and stock incentive plans. This disclosure may include...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Share&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;"&gt;-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;"&gt;B&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;"&gt;ased Compensation&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;The Company accounts for &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;share-based&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; compensation at fair value. The Company grants &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;equity-classified &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;awards including stock options&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; and&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; non-vested equity shares (restricted stock awards and units)&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;. The Company also grants equity-classified and liability-classified&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; awards&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;based on a comparison of the Company's total shareholder return (TSR) to the TSR of a predetermined group of peer companies &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;(performance units&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;).&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top: 0pt; margin-bottom: 0pt;'&gt;&lt;/p&gt;&lt;p style='margin-top:12pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The fair value of stock option awards is determined &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;on the date of grant &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;using the Black-Scholes option-pricing model. Restricted stock awards and units are valued using the market price of Anadarko common stock on the grant date. For &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;equity- and liability-classified performance units&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;fair value is &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;determined&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; using a &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Monte Carlo&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; simulation.&lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The Company records compensation cost, net of estimated forfeitures, for &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;share-based&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; compensation awards over the requisite service period. As each award &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;of stock options or non-vested equity shares &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;vests, an adjustment is made to compensation cost for any difference between the estimated forfeitures and the actual forfeitures related to the vested awards. For &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;share-based&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;awards that contain service conditions, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;c&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ompensation cost is recorded using the straight-line method. If the requisite service period is satisfied, compensation cost is not adjusted. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;For liability-classified performance units, expense is recognized only for those awards that ultimately vest using the market price of Anadarko common stock on the date the awards are earned.&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; See Note &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;13&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Share-Based Compensation&amp;#160;&amp;#160;&amp;#160;The Company accounts for share-based compensation at fair value. The Company grants equity-classified awards</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>This element describes an entity's accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Share-Based Compensation</Label></Row><Row><Id>23</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_DiscontinuedOperationsPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Discontinued Operations&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;In November 2006, Anadarko sold its wholly owned subsidiary, Anadarko Canada Corporation. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;results of the &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s Canadian operations have been classified as discontinued operations &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;in the Consolidated Statements of Income and Consolidated Statements of Cash Flows &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;for 2008&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; and&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; primarily relate to adjustments to an indemnity obligation provided by the Company to the purchaser, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;as well as&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; expenses associated with finalizing exit activities&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;. Unless otherwise indicated, information presented in the &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;N&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;otes to &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Consolidated&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;F&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;inancial &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;S&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;tatements relates only to Anadarko&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s continuing operations&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; See Note 15.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Discontinued Operations&amp;#160;&amp;#160;&amp;#160;In November 2006, Anadarko sold its wholly owned subsidiary, Anadarko Canada Corporation. The results of the Company's</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for any discontinued operations. The results of operations of a component of an entity that either has been disposed of or is classified as held for sale shall be reported in discontinued operations if both: (a) the operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction and (b) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. If the entity elects to allocate interest expense to a discontinued operation, it should disclose its accounting policy for this election and describe its method of allocation.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 03-13
 -Paragraph 17

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 87-24

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 144
 -Paragraph 41, 42, 43, 44

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Discontinued Operations</Label></Row><Row><Id>24</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_EarningsPerSharePolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Earnings Per Share&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;The Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s basic earnings per share (EPS) amounts have been computed based on the average number of shares of common stock outstanding for the period and include the effect of any participating securities as appropriate. Diluted EPS includes the effect of the Company&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;'&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s outstanding stock options, restricted stock awards, restricted stock units and performance-based stock awards if the inclusion of these items is dilutive. See Note&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;12&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Earnings Per Share&amp;#160;&amp;#160;&amp;#160;The Company's basic earnings per share (EPS) amounts have been computed based on the average number of shares of common</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Discloses the methodology and assumptions used to compute basic and diluted earnings (loss) per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 40
 -Subparagraph a

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 6, 8-16, 60

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Earnings Per Share</Label></Row><Row><Id>25</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;margin-left:0px;"&gt;Changes in Accounting Principles&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The Company adopted a new fair-value&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;measurement standard &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;on&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; January&amp;#160;1,&amp;#160;2008. The standard defines fair value, establishes a framework for measuring fair value under existing accounting pronouncements that require fair-value measurements and expands fair-value&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;measurement disclosures. The Company elected to implement the standard with the one-year deferral permitted for non&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;financial assets and non&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;financial liabilities, except those non&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;financial items recognized or disclosed at fair value on a recurring basis (at least annually). The deferral period ended on January 1, 2009&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;the Company &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;began applying&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; the fair-value framework to non&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;financial assets and non&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;financial liabi&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;lities initially measured at fair value, such as assets and liabilities acquired in a business combination, impaired long-lived assets (asset groups), intangible assets and goodwill, asset retirement obligations&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;exit or disposal costs&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, and certain &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;capital lease &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;assets&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Effective January 1, 2010&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;, the Company a&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;dopted revised oil and gas reserve estimation &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;standards. Th&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;is standard&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; allow&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; the use of reliable technology in determining estimates of proved reserve quantities and require&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; the use of a 12-month first-day-of-the-month average price to estimate proved reserves. Adoption of th&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;is&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;standard&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; did not have a material impact on depreciation, depletion and amortization expense.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Changes in Accounting Principles&amp;#160;&amp;#160;&amp;#160;The Company adopted a new fair-value measurement standard on January&amp;#160;1,&amp;#160;2008. The standard defines</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Represents disclosure of any changes in an accounting principle, including a change from one generally accepted accounting principle to another generally accepted accounting principle when there are two or more generally accepted accounting principles that apply or when the accounting principle formerly used is no longer generally accepted. Also disclose any change in the method of applying an accounting principle, or any change in an accounting principle required by a new pronouncement in the unusual instance that a new pronouncement does not include specific transition provisions.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 154
 -Paragraph 2, 17, 18

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 28
 -Paragraph 23, 24

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 01
 -Paragraph b
 -Subparagraph 6
 -Article 10

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The Company currently uses a yield&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;curve analysis to support the discount-rate assumption for the plans. 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The present value&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; of future plan benefits determined in this manner is then used to estimate a single plan-specific&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt; discount rate &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;that equates such present value with the corresponding future undiscounted cash flows. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Application of this method resulted in a weighted-average discount-rate assumption (weighted by the plan-level benefit obligation) at December 31, 2010, of 4.75% for pension plans and 5.25% for other postretirement plans&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The discount-rate assumption used by the Company represents an estimate of the interest rate at which the pension and</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Description and explanation of the assumptions (including assumed discount rates, rates of compensation increase, and expected long-term rates of return on plan assets) used to calculate the benefit obligation and the assumptions used to calculate net periodic benefit cost. May also include other assumptions such as market-related value, average remaining service period, and average remaining life expectancy.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Defined Benefit Plan Weighted Average Assumptions Used in Calculations</Label></Row><Row><Id>27</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>apc_DefinedBenefitPlanInvestmentPoliciesTextBlock</ElementName><ElementPrefix>apc</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Defined benefit plan investment policies disclosure.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;font-weight:bold;font-style:italic;margin-left:0px;"&gt;Investment Policies and Strategies&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;&amp;#160;&amp;#160;&amp;#160;The Company has adopted a balanced, diversified investment strategy, with the intent of maximizing returns without exposure to undue risk. Investments are typically made through investment managers across several investment categories (&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;d&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;omestic &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;l&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;arge and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;s&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;mall &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;c&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ap, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;i&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;nternational, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;d&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;omestic &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;f&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ixed &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;i&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;ncome, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;r&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;eal &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;e&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;state, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;h&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;edge &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;f&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;unds and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;p&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;rivate &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;e&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;quity), with selective exposure to Growth/Value investment styles. Performance for each investment is measured relative to the appropriate index benchmark for its category. Target asset-allocation percentages by major category are &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;45&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;%-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;55&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;% equity securities, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;20&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;%-&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;30&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;% fixed income and up to &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;25&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;% in a combination of other investments such as real estate, hedge funds and private equity. Investment managers have full discretion as to investment decisions regarding all funds under their management to the extent permitted within investment guidelines. &lt;/font&gt;&lt;/p&gt;&lt;p style='margin-top:0pt; margin-bottom:0pt'&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;margin-left:0px;"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;Although investment managers may, at their discretion and within investment guidelines, invest in Anadarko securities, t&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;here are no &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;material &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;direct investments in Anadarko securities included in plan assets&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;. There may be, &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;however, indirect investments in Anadarko securities through the plans' mutual fund investments. &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;The expected long-term rate of return on plan assets assumption was determined using the year-end 2010 pension investment balances by asset class and expected long-term asset allocation. The expected return for each asset class reflects capital-market projections formulated using a forward-looking building-block approach, while also taking into account historical return trends and current market conditions. Equity returns generally reflect long-term expectations of real earnings growth, dividend yield, and inflation. Returns on fixed-income securities are generally developed based on expected inflation, real bond yield, and risk spread (as appropriate), adjusted for the expected effect &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;that &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;changing yields &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;have &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;on the rate return. Other asset class returns are derived from their relationship to the equity and fixed income markets&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:10.5pt;"&gt;.&lt;/font&gt;&lt;/p&gt;</NonNumbericText><NonNumericTextHeader>Investment Policies and Strategies&amp;#160;&amp;#160;&amp;#160;The Company has adopted a balanced, diversified investment strategy, with the intent of maximizing returns</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Defined benefit plan investment policies disclosure.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Defined Benefit Plan Investment Policies</Label></Row></Rows><Footnotes /><NumberOfCols>1</NumberOfCols><NumberOfRows>23</NumberOfRows><ReportName>Summary of Significant Accounting Policies (Policies)</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>false</HasCustomUnits><SharesShouldBeRounded>true</SharesShouldBeRounded></InstanceReport>
