One-Page Deal Sheet
McMoRan Exploration Co. Purchases Newfield Exploration Co. Gulf of Mexico Property
Mcmoran Exploration Co. Newfield Exploration Co.
Announced Date
March 01,2008
Effective Date
July 01,2007
Close Date
August 06,2007
Transaction Type
Property
Enterprise Value (EV)($MM)
1100
Asset/Basin:
{"Gulf of Mexico Shelf"}
Location
Country
United States
State
Texas
Transaction Details: Subscribe to see
McMoRan Exploration Co. today announced it has agreed to purchase the Gulf of Mexico shelf oil and gas properties of Newfield Exploration Company along with exploration rights for cash consideration of $1.1 billion.
The acquisition provides McMoRan a diversified portfolio of oil and gas properties with significant production and cash flow generating capacity and an expanded exploration acreage position to pursue both shallow and deep gas opportunities on the shelf of the Gulf of Mexico.
The properties include 125 fields on 146 offshore blocks currently producing approximately 270 million…
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