Privately held US player Cox Oil has purchased a package of shallow-water offshore assets from Freeport McMoRan, bringing a fresh focus to shallow-water assets known for deep gas potential.
Cox will take over Freeport's share in the Flatrock and Hurricane areas of the OCS-310 Tiger Shoal lease, part of the diversified miner's move to shed its large oil and gas portfolio to focus on its mining interests.
