Evercore Investment Banking Pitch Book
McMoRan Situation Analysis
Asset Overview
Asset Overview
MMR's assets are composed of conventional Gulf
Coast onshore and Gulf of Mexico Shelf assets
(the "Conventional Assets") and its Ultra-Deep
shelf play (the "Ultra-Deep Assets")
MMR's Conventional Assets comprise all current
reserves and production
■ Proved Reserves: 208.5 Bcfe (10/1/12)
3P Reserves: 348.6 Befe (10/1/12)
2012 Q3 Production: 133.8 MMcfed
MMR's Ultra-Deep Assets consist of sub-salt
discoveries and prospects located in the Gulf of
Mexico Shelf below 25,000 feet
Unrisked Resource Potential: 123.2 Tefe
gross (57.3 Tefe net)
Risked Resource Potential: 36.7 Tefe gross
(17.3 Tefe net)
Ultra-Deep Discoveries (Pay Counts)
■ Davy Jones No. 1: 200' Wilcox
Davy Jones No. 2: 120' Wilcox Sands; 192'
Tuscaloosa Sands & Lower Cretaceous Carbonate
Blackbeard West No. 1: 168' Miocene; 52'
Oligocene Sand
Blackbeard East: 178' Miocene First Frio Sand;
300' Sparta Carbonate
Lafitte: 171' Miocene; 40' in Frio; 65' U. Eocene;
300' Sparta Carbonate
EVERCORE PARTNERS
Lincham Creek
Davy Jones Field
☐ #1: Workover in progress to flow test
Wilcox Sands
Onshore Cameron Parish,
LA
Large Area of Potential
Closure
Drilling Below 20,900 ft;
PTD 29,000 ft
#2: Expect to commence completion
following review of results from #1 well
■ Chevron Wl: 50% (Operator)
MMR WI: 36%
Ultra-Deep
Risked
Resource
Potential
98.0%
Areas of Operation
Lafitte
55 miles
away
Resource Base (17.6 Tcfe)
Expect to submit development plans
with RSEE in 3Q 2012
Proved, 1.2%
Probable, 0.4%
Possible, 0.4%
Reserves
PDP
PDBP
PDSI
PUD
Total Proved
Probable
Total 2P
Possible
Total 3P
Highlander
Confidential
Onshore south Louisiana
68,000+ gross acre area
Expected to spud in 2H12
PTD: 30,000 ft
Targeting Eocene, Paleocene and
Cretaceous Objectives
MMR WI: 72%
Blackbeard West #2
WI: 69.4%
☐NRI: 53.1%
■ Drilling below 21,400 feet; PTD: 24,500 ft
Blackbeard East
Submitting initial development plans
with BSEE
■ Plan to complete/test Upper Miocene
Sands during 2013 with conventional
equipment
Continue to evaluate development of
deeper zones
Reserve Base (3P 348.6 Bcfe)
0
977
11,067
2,652
13,719
1,430
15,148
OXI NGL Gas Equiv. PV-10
(Mb) (M) (MM) (MMife) (SMM)
3,518
6,572
$95.1
$482.2
534 25,657 49,969
1,734 70,788 120,623
5
6
658 28,095 37,906
2,927 124,545 208,504
935 47,485 69,006
3,861 172,030 277,510
1,362 54,316 71,065 $189.4
5,223 226,346 348,575 $1,024.1
MoMoRan
($3.8)
$58.9
$632.4
$302.3
8834.7View entire presentation