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- Company News: Freeport-McMoRan (FCX) is selling its deep-water assets in the Gulf of Mexico for $ 2 billion.
Company News: Freeport-McMoRan (FCX) is selling its deep-water assets in the Gulf of Mexico for $ 2 billion.
Freeport-McMoRan reported that its oil and gas subsidiary is selling deep-water assets in the Gulf of Mexico to Anadarko Petroleum for $ 2 billion.
At the end of the 12-month period ending June 30, 2016, these assets provided an average of 73 thousand barrels of oil per day. During this period, revenues reached $ 1.0 billion., Operating costs (before deducting administrative expenses) amounted to $ 0.3 billion., While capital expenditures totaled $ 1.6 billion. Freeport-McMoRan does not expect that the transaction will bring significant damages or losses.
FCX shares fell in premarket trading to $ 10.78 (-2.71%).
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