CEO Energy-Power Conference September 2014 www.fcx.com
Freeport-McMoRan Oil & Gas Key Strengths & Highlights High-Quality U.S. Based Oil & Gas Assets Strong Margins & Cash Flows - Over 90% of Revenues From Oil & Liquids Growing Production Profile Through Expansion Using Strategic…
Oil & Gas Operating Portfolio Madden California San Joaquin Valley Haynesville Arroyo Grande Santa Maria Basin Los Angeles Basin Gulf of Mexico California Haynesville/Madden Gulf of Mexico 2,000+ future locations…
Strong Execution Trailing 12-month Results Strong Operating/Financial Performance in Brent and HLS Pricing per Bbl 12-month Period Ended June 30, 2014 150 TTM EBITDA of 3.6 bn 125 100 Benefitting from Strong Brent & HLS Crude…
Portfolio Optimization 2Q 2014 Transactions Resource Potential Comparison (MMBOE) Sold Eagle Ford Shale Interests to Encana for 3.1 bn Acquired 0.9 bn Deepwater GOM 650 Interests, Including: - Lucius Oil Development (5.1% WI) -…
Production Profile (MBOE/D) 350 300 DW GOM Heidelberg Exploration 250 Lucius 200 Horn Mountain Deepwater Holstein 150 GOM Marlin 100 California 50 Haynesville Gas Assets Madden Inboard Lower Tertiary 0 2014 2015 2016…
Strategic Position in Deepwater Gulf of Mexico Major Exploration/ Operating/ Development Exploitation Producing Assets Projects Opportunities Significant Current Oil Financially Attractive Strategic Acreage Near Production…
Deepwater GOM Infrastructure with Excess Capacity 1H 2014 Production of 61 MBOE/d from DW GOM Holstein Marlin Horn Mountain Capacity 12% Utilization Capacity 40% Utilization Capacity 12% Utilization 113,500 BOPD 60,000 BOPD…
Deepwater Gulf of Mexico Focus Areas Louisiana Texas Marlin Dorado Viosca Knoll Horn Mountain Mississippi Canyon Area Green Canyon Area Holstein East Breaks Garden Banks Holstein Deep Holstein Atwater Valley…
Deepwater Gulf of Mexico Green Canyon Asset Area Texas GreenLouisiana Canyon Current Activities Asset Area Green Canyon Marlin 1st Holstein ST Well Commenced Production June 2014 at 3,600 MBOE/d Dorado Viosca Knoll Holstein…
Holstein Deep Development Miocene Type Log FM O&G Operated with GC 643 100% WI OCS-G 16772 1 & 1ST2 2 Successful Wells Drilled on Structure in 2006/2009 Reacquired Acreage in 2013 Lease Sale Delineation Drilling Currently in…
Copper Exploration Subsea Tieback Example FM O&G Operated with 100% WI Drilling of Initial Exploration Well in Holstein Field Progress; Follow-up Well to Spud in 4Q 2014 Net Resource Potential: 70 MMBOE Pliocene/Miocene…
Heidelberg Deepwater GOM Development Project First Production Expected in 2016 6-Well Initial Development Program 200-400 MMBOE Gross Resource Potential Heidelberg Spar Processing Capacity: 80,000 BOPD FM O&G 12.5% WI Water…
Deepwater Gulf of Mexico Mississippi Canyon Asset Area Texas Marlin Louisiana Planned Activities Marlin Dorado Marlin Viosca Knoll King Dorado Dorado Development Drilling to Commence in Late Viosca Knoll Mississippi Horn…
Dorado Development Marlin FM O&G Operated with Facility 100% WI Cumulative Dorado Production 34 MMBOE Net Resource Potential of 15 MMBOE from Planned Three Well Infill Program *1 SS7 SS4 Infill Program Will Target Undrained…
King M66/63 Development King Field Composite Type Log FM O&G Operated with 100% WI M66/63 Net Resource Potential of 142 MMBOE for Updip Attic, Infill and Deeper M66 ST Pool Test Locations M63 2 Based on 4D Seismic High…
Kilo/Oscar/Quebec/Victory(KOQV) Development FM O&G Operated with 100% WI Cumulative Field Production 120 MMBOE Net Resource Potential of 22 MMBOE from Planned Lion Infill Program Sable Kilo/Oscar Infill Program Will Target…
Deepwater Gulf of Mexico Keathley Canyon Asset Area Current Activities at Lucius Louisiana Texas Keathley Canyon Asset Area Marlin Dorado All Major Construction and Installation Projects have been Completed Viosca Knoll…
Lucius Deepwater GOM Development Project First Production Expected in 4Q 2014 300+ MMBOE Gross Resource Potential Processing Capacity 80,000 BOPD Lucius 450,000 MCFD FM O&G 25.1% WI Water Depth: 7,200 Located 300 Miles…
Lucius Development Thick Pliocene oil column Lucius 1 Lucius 6 Lucius 3 Lucius 2 Lucius 4 Lucius 5 23
Inboard Lower Tertiary/Cretaceous & Other Natural Gas Assets Industry Leader in Emerging New ILT Trend Cretaceous Near-term Natural Gas Project Inventory Tuscaloosa Trend Cumulative Production 3.1 TCF, 121 mmbc Tuscaloosa…
Highlander Discovery Onshore South LA Cretaceous Tuscaloosa Favorable Reservoir Characteristics Highlander Judge Digby Field Discovery Type Log Tusc 1 Tusc 2 Proposed Location 4Q 2014 Spud Tusc 3 Cretaceous Tuscaloosa…
International Exploration - Morocco Miocene and Cretaceous Play Net Resource Potential of 3.3 Billion BOE Chevron Chariot FM O&G Morocco Mazagan Permit Area Kosmos, BP Kosmos, BP Agadir Chevron Kosmos, BP Genel Cairn…
Freeport-McMoRan Oil & Gas Focus on Value Creation High Value Production + High Impact Development Projects Directed Around Producing Assets + Emerging Exploration From Inboard Lower Tertiary/Cretaceous, International and…
Addendum
Reconciliation of Cash Margin (Non-GAAP) to Gross Profit (GAAP) The following table reconciles cash margin, a non-GAAP measure, to gross profit (GAAP) for the trailing twelve months ended June 30, 2014. Management believes this…
Reconciliation of Cash Margin (Non-GAAP) to Gross Profit (GAAP) The following table reconciles cash margin, a non-GAAP measure, to gross profit (GAAP) for the six months ended June 30, 2014. Management believes this presentation may be…
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