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Report: McClendon weighing bid for Freeport McMoRan’s California assets

Oct. 08, 2014 6:34 PM ETFreeport-McMoRan Inc. (FCX) StockFCXBy: Carl Surran, SA News Editor4 Comments
  • Aubrey McClendon, the former Chesapeake Energy CEO who is now running American Energy Partners, is exploring a purchase of Freeport McMoRan’s (NYSE:FCX) California oil and gas operations for up to $5B, Bloomberg reports.
  • A deal would be the largest acquisition yet for American Energy, which has raised $13B since it was started last April.
  • FCX’s onshore operations in California include 16K net acres in the San Joaquin Basin and control of the Arroyo Grande Field, an oil-producing property in San Luis Obispo County.

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