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McMoRan Exploration (MMR -5.1%) swoons after its bigger-than-expected Q3 loss, hurt by a jump in...

McMoRan Exploration (MMR -5.1%) swoons after its bigger-than-expected Q3 loss, hurt by a jump in exploration costs and a production drop from Hurricane Isaac. Production fell 28% to 134MMcfe/day vs. 135 expected. Operations to clear the well bore at the Davy Jones No. 1 well were pushed back again; flow tests have been delayed for more than a year due to technical problems.
Comments (2)
  • ForeSight
    , contributor
    Comments (20) | Send Message
     
    This headline is misleading, the conference call was positive, and although yes DJ1 has been delayed for production for a year and counting. The test results should be (fingers crossed) concluded by Thanksgiving! The are re-setting the production tubing, and then removing Blow out preventer, install production tree, and.....Then Flow Test!!!!!!!!!!!!!
    19 Oct 2012, 01:13 PM Reply Like
  • callaholic
    , contributor
    Comment (1) | Send Message
     
    don't know whether to let it get called away or roll it out and up.decisions,decisions.
    15 Nov 2012, 04:52 PM Reply Like
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