Company Report
Freeport-McMoRan oil and gas exploration summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
In September 2016, Freeport-McMoRan Oil & Gas announced the sale of its Gulf of Mexico assets to Anadarko Petroleum Corp, including some 91 exploration leases. The move suggests that FCX has the intention to exit the oil and gas business to focus on other natural resources through its metals and mining business. The companies efforts to become a major oil and gas producer were stymied by the price collapse. Freeport-McMoRan acquired its portfolio of oil and gas assets through its US$19.6 billion acquisitions of Plains Exploration & Production and McMoRan Exploration in 2013. Following these two acquisitions, the company held assets in California, Texas, Louisiana, in the Gulf of Mexico and offshore Morocco.
Table of contents
- Executive summary
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Strategy
- Upstream strategy
- Exploration outlook
- Evolution of exploration strategy
- Investment and costs
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Exploration
- Well data
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Reserves and resources
- Resource additions for conventional new field discoveries are tabulated below. Freeport-McMoRan has not added any organic unconventional plays during the decade.
- Production
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Valuation
- Deepwater Gulf of Mexico
- Onshore Inboard Lower Tertiary gas play
- Morocco
Tables and charts
This report includes the following images and tables:
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Basins drilled and major discoveries 2006-2015Ten year performance summaryExploration & appraisal spend and reinvestment
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Exploration & appraisal spend by water depthExploration & appraisal spend by basin maturityDiscovery costs by water depthProduction: Image 1Full-cycle economicsSWOT gridNet active exploration acreage by water depthNet active exploration acreage by countryGross conventional exploration & appraisal wells by basin and sector
- 11 more item(s)...
What's included
This report contains:
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