McMoRan Exploration Company Description
It's oil and gas, not sulfur, that has the sweet smell of money for McMoRan Exploration. The company sold its sulfur operations in 2002, citing low sulfur prices, in order to focus on the exploration and production of oil and natural gas. Operating in the Gulf of Mexico and on the Gulf Coast, McMoRan Exploration has proved reserves of about 245.6 billion cu. ft. of natural gas and 19.7 million barrels of oil and condensate. The company owns or has stakes in 600 oil and gas leases in the Gulf of Mexico and onshore Louisiana and Texas covering about 1.5 million gross acres. McMoRan Exploration is also seeking to transform its Main Pass sulfur facilities into a liquefied natural gas terminal.
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The Company Description provides a historical perspective of McMoRan Exploration's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of McMoRan Exploration's evolution in the marketplace.
