Chevron
operates
the
Cameron
Parish,
south
Louisiana
play
on
a
50%
working
interest
with
partners
McMoRan
(36%),
Energy
XXI
(9.0%)
and
Tex
Moncrief
Junior
(5.0%).
McMoRan
said
that
independent
reserve
engineers
it
hired
for
its
own
use
only
had
estimated
proved,
probable
and
possible
oil
and
gas
reserves
of
546.7
billion
cubic
feet
gross.
141.7
billion
cubic
feet
of
equivalent
is
net
to
McMoRan,
of
which
12.9
billion
cubic
feet
of
equivalent
is
net
proved
reserves.
Chief
executive
James
Moffett
said
the
resources
were
“the
first
of
what
we
hope
will
be
sizeable
reserves
from
the
sub-salt,
ultra
deep
trend
onshore…
