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News For FCX From The Last 14 Days
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September 30, 2015
12:39 EDTFCXIcahn says 'right to expect' he'll get involved in Freeport McMoRan
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12:38 EDTFCXIcahn says 'have to have certain temperament' to buy stock like Freeport McMoRan
Icahn says too much copper is being produced now, depressing its price, but repeats his call that copper will turn in the future. Carl Icahn is speaking on CNBC.
September 29, 2015
06:50 EDTFCXFreeport-McMoRan volatility at upper end of 52-week range
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06:19 EDTFCXIcahn a little longer than short the market, CNBC reports
Carl Icahn is positioned as a "little longer than short" the market, CNBC's Scott Wapner reports following the release of the billionaire's "Danger Ahead" movie. Icahn is keeping as is his long position in Apple (AAPL), Wapner added. The famed investor owns Freeport McMoRan (FCX) as a play on copper prices recovering over the long term, the reported noted after speaking with Icahn on the phone. Icahn last night raised his stake in Cheniere Energy (LNG).
September 28, 2015
11:51 EDTFCXStocks with call strike movement; TWTR FCX
Twitter (TWTR) December 29 call option implied volatility increased 4% to 59, Freeport McMoRan (FCX) January 10 call option implied volatility increased 7% to 74 according to iVolatility.
08:01 EDTFCXFreeport McMoRan announces drilling results at Horn Mountain Deep project
Freeport-McMoRan Inc. reports drilling results from the Freeport-McMoRan Oil & Gas 100-percent-owned Horn Mountain Deep well in the Deepwater Gulf of Mexico. Initial production from this well, which will be tied back to existing facilities, is expected in first half 2017. This well, combined with two follow on development wells at Horn Mountain Deep, may be capable of producing an aggregate of 30,000 barrels of oil equivalents per day. During September 2015, the Horn Mountain Deep well was drilled to a total depth of approximately 16,925 feet. Logging while drilling logs indicated that the well encountered a total of approximately 142 net feet of Middle Miocene oil pay with excellent reservoir characteristics. In addition, these results indicate the presence of sand sections deeper than known pay sections in the field. The 100-percent-owned Horn Mountain production facilities in FM O&G's Mississippi Canyon area are capable of processing 75 MBbls of oil per day. The positive results at Horn Mountain Deep and our geophysical data support the existence of prolific Middle Miocene reservoir potential for several additional opportunities in the area, including the 100-percent-owned Sugar, Rose, Fiesta, Platinum and Peach prospects. FM O&G controls rights to over 55,000 acres associated with these prospects. Since commencing development activities in 2014 at its three 100-percent-owned production platforms in the Deepwater GOM, FM O&G has drilled 12 wells, all with positive results. Three of these wells have been brought on production, and FM O&G plans to complete and place the remaining additional wells on production in late 2015, 2016 and 2017. The success at Horn Mountain Deep follows the positive drilling results announced in July 2015 from three wells drilled in the Horn Mountain area, including the Quebec/Victory, Kilo/Oscar and Horn Mountain Updip tieback prospects. In aggregate, these wells may be capable of producing over 27,000 BOE/d, with initial production expected in mid-year 2016. Also during the third quarter of 2015, FM O&G drilled its second successful development well at its 100-percent-owned King field, located in Mississippi Canyon south of the 100-percent-owned Marlin facility in 5,200 feet of water. A third development well is in progress. In aggregate, these wells may be capable of producing 20,000 BOE/d, with initial production expected to commence in the fourth quarter of 2015. FM O&G's Marlin production facilities in the Mississippi Canyon focus area are capable of processing 60 MBbls of oil per day.
06:25 EDTFCXFreeport McMoRan volatility elevated on wide price movement
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