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Freeport-McMoran Cuts 2016 Spending; Haynesville, Gulf of Mexico
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Freeport-McMoRan Inc. announced additional actions in response to market conditions, including further revisions to its oil and gas capital spending plans, additional curtailments in copper and molybdenum production and the suspension of its common stock dividend.
As previously reported on August 5, 2015, Freeport-McMoRan Oil & Gas (FM O&G) is deferring investments in several long-term projects in response to oil and gas market conditions.
Operating Areas/Oil & Gas Quick Summary 2016 Capital Budet (Guidance)(Original) : $2.0 Billion (2016 & 2017) 2016 Capital Budget (Guidance) (New) (2016) : $1.8 Billion 2016 Capital Budget (Guidance) (New) (2017) : $1.2 Billion Drilling Activity Deep Water GOM : 1 Drillship Production Q3-3015 Production : 150 Mboe/d 2016 Forecast/Guidance…- ✓ Full news archive — U.S., Canada & international coverage
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