EXPLORATION

Freeport strikes more deepwater GOM oil

FREEPORT-McMoRan's deepwater drilling in the Gulf of Mexico's 100%-owned Horn Mountain Deep well has returned a positive result, bringing Freeport's new Gulf productive capacity to more than 100,000 barrels of oil per day by the end of 2017.

Haydn Black

That's almost enough to meet the demands of half its existing capacity, but the new production comes at a time of low oil prices, US crude storage capacity at record levels, and competition from onshore...

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