(Bloomberg) -- McMoRan Exploration Co. agreed to buy
oil and natural-gas properties in shallow waters of the Gulf of
Mexico from Newfield Exploration Co. for $1.1 billion in cash,
extending its operations in the region.
The properties include 125 fields on 146 offshore blocks
with current daily oil and gas production equivalent to about 270
million cubic feet of gas, New Orleans-based McMoRan said in a
statement today. Natural gas accounts for 70 percent of the
output, the company said.
Read more at Bloomberg Energy News
oil and natural-gas properties in shallow waters of the Gulf of
Mexico from Newfield Exploration Co. for $1.1 billion in cash,
extending its operations in the region.
The properties include 125 fields on 146 offshore blocks
with current daily oil and gas production equivalent to about 270
million cubic feet of gas, New Orleans-based McMoRan said in a
statement today. Natural gas accounts for 70 percent of the
output, the company said.
Read more at Bloomberg Energy News
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