Anadarko CEO Sees Significant Cuts to 2015 Capex

Anadarko Petroleum Corp's capital expenditures in 2015 will be significantly lower than last year because of the recent collapse in crude oil prices, the exploration and production company's CEO told investors on a conference call on Tuesday.

"We see ourselves in a period here of trying to build value, maintain flexibility and not grow in a low commodity price environment that we see as less than attractive," Chief Executive Al Walker said.

Anadarko will release its capital plan and outlook on March 3. In 2014, Anadarko spent about $9.3 billion, according to its fourth-quarter earnings report.

Reporting by Anna Driver in Houston