McMoRan engage in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area. Our exploration strategy is focused on the “deep gas play,” drilling to depths of 15,000 to 25,000 feet in the shallow waters of the Gulf of Mexico and Gulf Coast area to target large structures in the Deep Miocene, and on the “ultra-deep gas play” below 25,000 feet. We have one of the largest acreage positions in the shallow waters of these areas, which are our regions of focus.
17/04/12McMoRan Exploration posts Q1 profit, revenues fall
19/07/11McMoRan widens Q2 losses
20/09/10Plains Exploration sells shallow water Gulf of Mexico assets to McMoRan for $818m in cash and stocks
19/01/10McMoRan Exploration reports 271.9 bcfe year end gas reserves, hits major didscovery at Davy Jones
Recent Sector News
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Tethys Petroleum (LON:TPL) (TSE:TPL) is launching a review of its business to address concerns of its major shareholders. It is to be a comprehensive review of the company’s costs, efficiencies, strategy and corporate governance, Tethys said.
WesternZagros (CVE:WZR) has been upgraded to an outperform rating from sector perform by RBC Capital Markets, with analyst Al Stanton saying the company's recent refinancing has bought management time to de-risk its two main discoveries in Iraq while political and security issues hopefully die down.
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