McMoRan Exploration Co. Updates Gulf of Mexico Exploration and Development Activities

McMoRan Exploration Co. updated its Gulf of Mexico exploration and development activities, including drilling progress at the Flatrock No. 5 development well, the Flatrock No. 6 delineation well and Tom Sauk exploratory well, results from the Northeast Belle Isle exploratory well and current production rates. McMoRan also announced that the rigs are on location at the high-impact Gladstone East and... 

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McMoRan Exploration Co. Announces Successful Production Test at Flatrock No. 4 and Plans to Pursue Completion at South Timbalier Block 168

McMoRan announced a successful production test at Flatrock No. 4 (location “C”). The production test, which was performed in the primary Rob-L section, indicated a gross flow rate of approximately 109 million cubic feet of natural gas per day (MMcf/d), 2,500 barrels per day of condensate and zero barrels of water, approximately 124 MMcfe/d (23 MMcfe/d net to McMoRan), on a 50/64th choke with flowing... 

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EPL Discusses Impact of Hurricane Gustav

Energy Partners, Ltd. provided an operational update regarding the impact of Hurricane Gustav on its production operations, including its preliminary damage assessment. The Company also commented on its preparations for Hurricane Ike. EPL safely evacuated all offshore personnel and shut in all production prior to the arrival of Hurricane Gustav. The Company has completed an initial assessment of damage... 

ExxonMobil Donates $1.5 Million to Gustav Disaster Relief in Louisiana

Exxon Mobil Corporation announced today a donation of $1.5 million for disaster relief assistance in Louisiana resulting from Hurricane Gustav. “The physical damage from Gustav’s hurricane force winds has been devastating, particularly in south Louisiana,” said Rex W. Tillerson, chairman and chief executive officer. “Hundreds of thousands of people will be without power for several more weeks... 

Swift Energy Reports on Current Impact from Hurricane Gustav

Swift Energy Company reported that an initial airplane fly-over of our coastal Louisiana properties is currently being coordinated to assess the impact of Hurricane Gustav. As previously announced on Thursday, Swift Energy began implementing standard shut-down procedures in its coastal Louisiana properties due to weather risks from then approaching Tropical Storm Gustav. With the subsequent strengthening... 

Freeport Mine Workers Gather for Rally; Copper Gains

Workers at Freeport-McMoRan Copper & Gold Inc.’s Grasberg mine in Indonesia rallied to demand higher pay in a protest that may to curb output at the world’s second-largest copper mine. The price of the metal gained. Protesters are moving to Timika, the regency’s capital, said Frans Pigome, the head of Tongoi Papua, which represents native Papuans. Timika is about 60 miles (96... 

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Top seeds Drilling, Bachmann in 65s Clay Court final

Second-seeded Fred Drilling of Bonita Springs, Fla., played nearly flawless tennis in defeating fourth-seeded Allan Carter of Boca Raton, Fla., to reach the final at the USTA National Men’s 65s Clay Court Championships at the New Orleans Lawn Tennis Club. Drilling won 6-1, 6-1, using a powerful forehand to keep Carter on the defensive. Drilling dominated the points by keeping his shots deep and... 

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Shareholders approve mesh of copper rivals

Freeport-McMoRan Copper & Gold Inc.’s $25.9 billion cash-and-stock acquisition of Phelps Dodge Corp. was approved today, a deal that would create the world’s largest publicly traded copper company. In separate votes by shareholders of New Orleans-based Freeport and Phoenix-based Phelps Dodge, the buyout was approved by about 98 percent of the votes cast, the companies said in a joint... 

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Gulf drilling funds may go to other projects

The Gulf Coast oil drilling expansion President Bush signed into law last year contained a strong environmental sweetener that helped push it through Congress. Four lucky states – Louisiana, Alabama, Mississippi and Texas – were slated to get billions in potential royalties, and lawmakers said the money would help reverse damage from offshore industry, paying for projects such as wetlands... 

Freeport McMoran Shares Dip on Weaker-Than-Expected 4Q, Phelps Shares Follow Slide

A weaker-than-expected quarterly earnings report from Freeport McMoran Copper & Gold Inc. sent the miner’s shares lower on Tuesday, as results fell far short of Wall Street’s forecast. New Orleans-based Freeport — which is buying rival copper miner Phelps Dodge Corp. for $25.9 billion — reported declining production at its core Indonesian mining operations hurt earnings...