OTHERIn 2010, McMoRan farmed out its 70.0 percent working interest in a portion of West Cameron Block 73 to a third party operator and retained a 5 percent of 8/8 ths overriding royalty interest (ORRI). Recently, the operator encountered positive drilling results and is evaluating completion opportunities to develop the approximate 400 net feet of pay identified in seven sands between 14,500 feet and nearly 18,000 feet. In addition to benefiting from the 5 percent ORRI, production from the well will be processed through McMoRan’s existing West Cameron Block 73 “A” platform under which McMoRan will collect processing fees. Additionally, following these positive exploratory results McMoRan is considering additional drilling opportunities on the West Cameron Block 73 structure. MMR holds a 70 percent working interest in various depths across the entire 5,000 acre block including deep rights.
McMoRan Exploration Co. Reports Third-Quarter/Nine-Month 2012 Results
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