4. Anadarko Petroleum ( APC) is a U.S. incorporated oil and natural gas exploration and production company. During the first three months of 2011, sales volumes stood at 62 million barrels of oil equivalent, averaging approximately 2.4 billion cubic feet of natural gas per day. On the higher sales volumes, Anadarko's CEO, Jim Hackett, said, "This record performance was highlighted by the rapid growth of first lifting from the Jubilee field offshore Ghana. Our deepwater exploration program also achieved excellent results in the quarter with three discoveries and three successful offshore appraisal wells. Early in the second quarter, we closed the previously announced $1.6 billion joint venture with Korea National Oil Corporation, validating the tremendous embedded value of this resource." Anadarko ended the first quarter of 2011 with approximately $3.5 billion cash on hand. Higher cash in books gives Andarko sufficient leverage to increase its capex and provide for acquisitions. The company announced six successful offshore discoveries or appraisal wells during the quarter, and the $576 million acquisition of Wattenberg Processing Plant. The company has managed to rationalize lease operating expense per unit by 13% as well, compared to the Dec. quarter. The stock is trading at 18 times its estimated 2012 earnings and has an upside of 24%. About 59% analysts covering the stock rate it a buy.