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.