3rd Quarter 2011 C f Conference C Call ll James R. R Moffett Richard C. C Adkerson Co-Chairman of the Board, Co-Chairman of the Board President & CEO October 17, 2011 www.mcmoran.com
3Q11 Highlights Davy Jones No. 1 Completion Activities On Track for YE 2011 Flow Test Advanced Industry Leading Deep Drilling on GOM Shelf - Blackbeard East By-pass Well in Progress - Lafitte Interim Results Indicated Miocene…
3Q11 Summary McMoRan 3Q11 Sales Stats Volumes Realization Natural Gas 11.4 Bcf 4.38/Mcf Production Rate of 187 MMcfe/d Exceeded July 2011 Oil 0.7 MM Bbls 100.94/Bbl Estimate of 180 MMcfe/d Plant Products 1 8 Bcfe 1.8 9 39/Mcfe…
Davy Jones Major Ultra-Deep Discovery 2011 Drilling Results Expand Resource Potential Located in 20 Feet of Water What Have We Learned 2 Wells Confirmed Presence of Wilcox Age Sands on Shelf & Structural Continuity Confirmed…
Davy Jones Field Development McMoRan Has Advanced the Technology, Equipment and Processes Needed to Develop This Field No. 1 Well Completion/Flow Test DJ 1 Wellhead Expected by YE 2011 No. 2 Well Completion/Flow Test E Expected…
Well Status Report Davy Jones Field WI: 63.4%; 63 4%; NRI: 50.2% 50 2% 2 Successful Sub-salt Wells 1 Well Flow Test by YE 2011 2 Well Flow Test in 2nd Half 2012 Boudin WI: 53.5%; NRI: 42.4% Current Depth: 23,800 PTD:…
Ultra-Deep Prospects/Potential Unrisked Potential for Ultra-Deep Focus Area: 30+ Tcfe Gross, 14+ Tcfe Net* Gross Unrisked Potential Could Exceed 100 Tcfe MMR Wilcox/Cretaceous Play JOHN PAUL JONES ENGLAND BLACKBEARD WEST DAVY…
2011 Outlook Summary 2011 Production Estimate* - Annual Average 187 MMcfe/d - 4Q11e 170 MMcfe/d 2011 Capital Expenditures Estimate 500-550 MM - 300-350 MM in Exploration - 200 MM in Development - Spending to Continue to be…
Cash Flow Sensitivities 2011e EBITDAX (1) ( in millions) EBITDAX Estimate Sensitivities Impact to Remaining 3 months +/- 1/MMbtu Gas Price 13 +/- 5/bbl Oil Price 4 +/- 10% Production Volume 11 310 327 293 -1/MMbtu 1/MMbt…
Reference Slides www.mcmoran.com
Blackbeard East Cross Section
Other Ultra-Deep Prospects with Simila Characteristics Similar Cha acte istics to Blackbeard Blackbea d Velocity y Anomalyy Seen at Blackbeard East May be Visible at Other Nearby Prospects West East Velocity Anomalies Below…
Lafitte Cross Section 14
Boudin Cross Section 15
3Q11 Average Production Rates For Top Fields (MMcfe/d) LA State Lease 18090 Breton Sound 33 Long Point Gross: 20; Net: 6 West Cameron 96 Laphroaig Gross: 26; Net: 7 Gross: 12; Net: 3 Gross: 55; Net: 16 South Marsh Island…
Reconciliation of Non GAAP Measure Non-GAAP EBITDAX is a financial measure commonly used in the oil and natural gas industry but is not a recognized accounting term under accounting principles generally accepted in the United States of…
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