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Freeport to Place 4 Wells on Production in 2016
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Freeport-McMoRan Inc. has announced first quarter 2016 results.
Consolidated sales totaled 12.1 million barrels of oil equivalents (MMBOE) for first-quarter 2016, compared with 12.5 MMBOE for first-quarter 2015. Capital expenditures totaled $982 million for first-quarter 2016, consisting of $459 million for mining operations (including $350 million for major projects) and $523 million for oil and gas operations. Capital expenditures are expected to approximate $3.3 billion for the year 2016, consisting of $1.8 billion for mining operations (including $1.4 billion for major projects) and $1.5 billion for oil and gas operations. At March 31, 2016, consolidated debt totaled $20.8 billion and consolidated cash totaled $331 million. At March 31, 2016, FCX had $3.0 billion available under its…- ✓ Full news archive — U.S., Canada & international coverage
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