McMoRan Exploration Co (NYSE:MMR) has declared its quarterly cash dividends which are payable on February 15, 2010 to holders of record on February 1, 2010. The dividends are $1.6875 per share of the company’s 6 ¾% of Mandatory Convertible Preferred Stock (NYSE:MMRprM), or $20 per share of the company’s 8% Convertible Perpetual Preferred Stock. More information may be obtained online at http://www.mcmoran.com/, or by contact David Joint (McMoRan Exploration Co Financial Contact) at 504.582.4203. The company’s media contact, William Collier may also be reached at 504.582.1750.
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McMoRan Exploration Co. (McMoRan) is engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area. The Company’s oil and gas operations are conducted through McMoRan Oil & Gas LLC (MOXY), its principal operating subsidiary. The Company’s estimated proved oil and natural gas reserves at December 31, 2008, totaled 344.8 billion cubic feet equivalent (Bcfe), of which 70% represented natural gas reserves. Average daily production from the Company’s properties, net to its interests, approximated 245 million cubic feet equivalent per day (MMcfe/d) in 2008.
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