McMoRan Exploration - since being acquired by mining giant Freeport in a deal closed in June - has spent at least $1 billion trying to produce from its flagship Davy Jones ultra-deep natural gas complex in the shallow waters of the US Gulf, a trend the company once heralded as a major new play for the region.
New parent Freeport has apparently backed off on further completion attempts at the troublesome deep gas Davy Jones-1 wildcat, instead turning its attention in 2014 to three long-term production tests including Davy Jones-2, an appraisal well in South Marsh Island Block 234.
Freeport
