McMoRan, Halliburton Form Alliance to Develop GOM Blocks

Monday, March 27, 2000
McMoRan Exploration Co. and Halliburton Company have announced the formation of a strategic alliance to conduct operations for McMoRan's recently announced major new oil and gas exploration and development program in the Gulf of Mexico. McMoRan has recently acquired 160 blocks covering approximately 750,000 gross acres in the Gulf of Mexico with exploratory rights and the foundation for an aggressive exploration and development program. Chase Securities Inc. assisted McMoRan in forming this alliance, and will arrange a $50 million bank facility for McMoRan's use in funding the exploration program. Additionally, Halliburton will have the opportunity to participate in McMoRan's development opportunities in this program by providing a portion of the development financing. The alliance agreement, which is subject to certain conditions, extends through June 30, 2003.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

BigLift Shipping Expands Heavy Lift Fleet

BigLift Shipping said it has ordered a third Happy S-type vessel. The new build vessel, to be named Happy Sun, will be identical to BigLift’s Happy Star and will

Austal Delivers Seventh EPF7 to US Navy

Austal Limited (Austal) informed that the U.S. Navy has accepted delivery of USNS Carson City (EPF 7) from Austal USA, during a ceremony held aboard the ship at Austal USA’s shipyard in Mobile,

Wärtsilä to Power Two Indian Dredgers

Wärtsilä has won an order for two new 8000m3 trailing suction hopper dredgers being built for the Adani group, India's largest private multi-port operator. The

Offshore

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

Subsea 7 Announces PLSV Swap off Brazil

Subsea 7 S.A. said it has reached an agreement with Petrobras to substitute a pipelay support vessel (PLSV) working off Brazil.   The agreement will see the Subsea-7-owned

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0751 sec (13 req/sec)