Freeport says the mergers will create a "premier U.S. based natural resources company." They said Plains major assets include"its established strong oil production facilities in California, a growing production profile in the onshore Eagle Ford trend in Texas, significant production facilities and growth potential in the Deepwater Gulf of Mexico and large onshore resources in the Haynesville natural gas trend in Louisiana."
They said McMoRan Exploration "is an industry leader in the emerging shallow water ultra-deep gas trend with sizeable potential, located offshore in the shallow waters of the Gulf of Mexico and onshore in South Louisiana."
Freeport ran a webcast today about the merger and is making it available for replay at www.fcx.com
through Friday, January 4, 2013.