Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/freeport-mcmoran-significantly-reduces-oil-and-gas.shtmlFreeport-McMoRan significantly reduces oil and gas capital budget
Freeport-McMoRan Inc. provided an update on its progress in reducing costs and capital spending. In response to current oil and gas market conditions, Freeport-McMoRan Oil
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Freeport-McMoRan Inc. provided an update on its progress in reducing costs and capital spending.
In response to current oil and gas market conditions, Freeport-McMoRan Oil and Gas (FM O&G) is deferring investments in several long-term projects.
In addition, FM O&G has revised its estimate of the start-up of initial production from its recent drilling success in the Horn Mountain area to 2016 from the previously estimated start-up in 2017. This revised operating plan will allow FM O&G to continue to grow production and enhance cash flow in a weak oil and gas price environment.
