Mcmoran Exploration Co : On Reflection – Davy Jones Letter to Shareholders
03/07/2012| 01:43pm US/Eastern
Recommend:
March 7, 2012 (pre flow test)
To the Shareholders of McMoRan Exploration Co.:
Everywhere I go people want to know about Davy Jones - people
I know
casually or even people I have never met before. Everyone
asks, "How is Davy Jones?" I am happy to report to you today
that the flow test is imminent. It has been two years of
anticipation, so I thought I would share my thoughts with
you.
The Gulf of Mexico shallow water, ultra-deep, sub-salt play
has been quite a voyage, beginning with the challenge of
whether McMoRan could drill deeper than anyone had drilled
before with our Blackbeard West prospect. The challenge to
drill deeper was a major undertaking and, as usual, our
shareholders and major investors made it possible for us to
raise the kind of capital for McMoRan, an independent, to
take on the ultra-deep, sub-salt play along with our
partners, Plains Exploration & Production Company, Energy
XXI, JX Nippon Oil Exploration and Moncrief Offshore.
This exploration play benefited from the guidance and review
by both the Bureau of Ocean Energy Management and Bureau of
Safety and Environmental Enforcement. We thank them for their
efforts and assistance throughout this endeavor.
The challenge of drilling deeper included learning not only
how to drill a well in temperatures in excess of
400
Recommend :
