ASSET SALESAs previously reported in October and November 2012, McMoRan completed the sale of two traditional GOM shelf oil and gas property packages. The combined net cash proceeds from the two transactions (after closing adjustments) totaled $55.9 million and reclamation obligations assumed by the buyers totaled $45.6 million. McMoRan’s fourth-quarter 2012 results included net gains totaling approximately $39.7 million in the connection with these transactions.
McMoRan Exploration Co. Reports Fourth-Quarter/Twelve-Month 2012 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.