McMoRan: Onshore La. discovery holds large amount of reserves

02/20/2013 | Platts

An ultra-deep onshore discovery in Louisiana made by McMoran Exploration and other firms holds about 546.7 billion cubic feet equivalent of proved, probable and possible oil and natural gas reserves, the company said. "These are the first of what we hope will be sizeable reserves from the sub-salt, ultra-deep trend onshore and in the shallow waters of the Gulf of Mexico," said James Moffett, co-chairman, president and CEO of McMoran.

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