Search results for: McMoRan

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  • 28 January 2016
    Exploration & Production

    Freeport-McMoRan’s oil and gas division, FM O&G, has decided to idle three drillships in the Gulf of Mexico in order to cut costs.  Freeport-McMoRan announced in December it would be reducing its rig utilization from three deepwater Gulf of Mexico drillships to one drillship. As the company continues to manage oil and gas costs and capital […]

  • 6 October 2015
    Business & Finance

    Freeport-McMoRan Inc. has reduced the size of its Board from sixteen to nine members and is undertaking a review of strategic alternatives for its oil and gas business. According to Freeport-McMoRan, its reconstituted nine-membered Board is comprised of seven independent and two executive directors. The independent directors are: Gerald J. Ford (Lead Independent Director), Robert A. […]

  • 6 April 2016
    Business & Finance

    US-based mining company Freeport-McMoRan has restructured its subsidiary Freeport-McMoRan Oil & Gas (FM O&G) with the aim of reducing costs and aligning with debt reduction initiatives of FCX’s global business.  FM O&G is being restructured as an operating division of FCX and, as a result of this restructuring, the FM O&G executive management team is leaving the company. […]

  • 28 March 2012
    Business & Finance

    McMoRan Exploration Co. announced yesterday continuing progress to flow test the Davy Jones No. 1 well on South Marsh Island Block 230. As previously reported, McMoRan saw positive pressure response from the Wilcox “D” sand which was perforated on March 24, 2012. On March 26, 2012, McMoRan attempted to perforate the Wilcox “C” sand. As […]

  • 28 June 2012
    Business & Finance

    McMoRan Exploration Co. announced the results of its participation in the Central Gulf of Mexico Lease Sale 216/222 held last week by the Bureau of Ocean Energy Management (BOEM) in New Orleans, Louisiana. McMoRan was the apparent high bidder on a total of 14 lease blocks on the outer Continental Shelf of the Gulf of […]

  • 16 November 2011
    Business & Finance, Project & Tenders

    McMoRan Exploration Co., a shallow water Gulf of Mexico exploration company, reported yesterday that its Lafitte ultra-deep prospect, which is located on Eugene Island Block 223 in approximately 140 feet of water, has encountered additional hydrocarbons. The well has been  drilled to a true vertical depth of 29,756 feet and has been logged with wireline […]

  • 29 June 2011
    Business & Finance, Project & Tenders

    McMoRan Exploration Co. today updated its exploration and development activities and also provided an update on its cumulative findings to date from its shallow water, ultra-deep exploration and development activities on the Gulf of Mexico (GOM) Shelf. McMoRan has actively pursued large ultra-deep targets located in the shallow waters of the GOM below the salt […]

  • 7 September 2011
    Business & Finance, Project & Tenders

    McMoRan Exploration Co. today announced results from interim logging operations at the Lafitte ultra-deep exploration well located on Eugene Island Block 223 in 140 feet of water. The Lafitte well commenced drilling on October 3, 2010 and has been drilled to 27,038 feet. Wireline logs indicate several Lower Miocene sands below 24,300 feet that appear […]

  • 3 December 2012

    McMoRan Exploration Co. provided an update on the Davy Jones No. 1 operations currently in progress on South Marsh Island Block 230. As previously reported, the well was opened for testing in November 2012. Completion fluids were recovered from the well but flow was believed to be restricted by residual barite in the perforations (i.e. […]

  • 29 March 2011
    Business & Finance

      McMoRan Exploration Co. updated its shallow water Gulf of Mexico (GOM) exploration and development activities, including updates on its three inprogress ultra-deep exploration wells, the Laphroaig #2, Hurricane Deep and Boudin deep gas wells, and other development and production activities. Shallow Water, Ultra-Deep Exploration Activities The Davy Jones offset appraisal well (Davy Jones #2) […]

  • 28 December 2012

      McMoRan has announced that operations to achieve commercial production at Davy Jones No. 1 on South Marsh Island Block 230, in the shallow waters of the Gulf of Mexico (GOM) Shelf, are ongoing. Recent operations designed to unblock the perforations using a propellant stimulation gun had limited success and McMoRan is initiating operations to […]

  • 2 January 2011
    Business & Finance

    Plains Exploration & Production Company) announces it has completed the divestment of its Gulf of Mexico shallow water shelf properties to McMoRan Exploration Co. . The transaction was approved by McMoRan shareholders at a special meeting of the stockholders held today. At closing and after preliminary closing adjustments, PXP received approximately $86 million in cash, […]

  • 20 September 2010

    McMoRan Exploration Co.  announced  an agreement to acquire Plains Exploration & Production Company’s  shallow water Gulf of Mexico (GOM) shelf assets for a combination of stock and cash. Under the terms of the transaction, McMoRan will issue 51 million shares of McMoRan common stock and $75 million in cash to acquire all of PXP’s interests […]

  • 31 July 2012
    Business & Finance

    McMoRan Exploration Co. yesterday provided an update on the Davy Jones No. 1 workover currently in progress on South Marsh Island Block 230. As previously reported McMoRan successfully perforated 165 feet of Wilcox sands and on July 13 commenced operations to run production tubing. Prior to removing the blow out preventer and installing the production […]

  • 23 June 2016
    Exploration & Production

    Offshore driller Noble Corporation has now received the full settlement value of $540 million from Freeport-McMoRan regarding previously announced settlement and termination of drilling contract for two drilling rigs. Noble received $540 million in cash through the receipt of Freeport shares, which were immediately resold by Noble under a previously disclosed distribution agreement. With the […]

  • 3 December 2010
    Business & Finance, Project & Tenders

    McMoRan Exploration Co.  updated its shallow water Gulf of Mexico exploration and development activities, including in-progress drilling at three ultra-deep prospects and two deep gas prospects and other activities. Shallow Water, Ultra-deep Exploration Activities The Blackbeard East ultra-deep exploration well commenced drilling on March 8, 2010 and is currently drilling below 29,000 feet. The well […]

  • 24 February 2014
    Equipment

    The Bureau of Safety and Environmental Enforcement (BSEE) completed an unannounced oil spill response exercise involving Freeport McMoRan Oil & Gas. The exercise occurred in BSEE’s Gulf of Mexico Region and included the deployment of response equipment under contract to Freeport-McMoRan. The purpose of BSEE’s spill exercises is to determine if an operator can effectively […]

  • 24 May 2016
    Exploration & Production

    Following an early termination of contracts for two Noble Corporation’s drillship, oil company Freeport-McMoRan Oil & Gas has decided to cancel another drillship deal, this time with the offshore drilling contractor Rowan Companies.  Rowan Companies on Monday announced an agreement with its customer, Freeport-McMoRan Oil & Gas (FMOG), and FMOG’s parent company, Freeport-McMoRan, in connection with […]

  • 23 October 2007

    McMoRan Exploration Co. announced today a successful production test at the Flatrock discovery (location ‘A’), located on OCS 310 at South Marsh Island Block 212 in approximately 10 feet of water. The production test, which was performed in the Operc section, indicated a gross flow rate of approximately 71 million cubic feet of natural gas […]

  • 9 April 2012
    Business & Finance

    McMoRan Exploration Co. today provided an update on flow testing activities at the Davy Jones No. 1 well on South Marsh Island Block 230. Technical completion has been achieved successfully and work is ongoing to establish commercial production from the well.  The perforation of the Wilcox “D” sand resulted in positive pressure build-up in the […]

  • 27 March 2014
    Business & Finance, Equipment, Project & Tenders

    Cameron has received an order from Freeport-McMoRan Oil & Gas to supply a 25,000 psi blowout preventer stack and 25,000 psi manifold. Cameron delivered the industry’s first and only 13-5/8″ 25,000 psi blowout preventer to Freeport-McMoRan in 2011. After successful and extensive use in the Gulf of Mexico, Freeport-McMoRan has decided to place this second […]

  • 24 February 2014
    Operations & Maintenance

    The Bureau of Safety and Environmental Enforcement (BSEE) completed an unannounced oil spill response exercise involving Freeport McMoRan Oil & Gas. The exercise occurred in BSEE’s Gulf of Mexico Region and included the deployment of response equipment under contract to Freeport-McMoRan. The purpose of BSEE’s spill exercises is to determine if an operator can effectively […]