McMoRan subsidiary Freeport-McMoRan Sulphur (FSC) will retain the right to mine and produce sulphur from the lease, but agreed not to interfere with non-sulphur operations undertaken by Trinity.
Trinity and Schlumberger plan to establish a commercial brine production and non-hazardous oilfield waste storage business at Main Pass 299.
While brine production has commenced, the duo awaits MMS approval to store waste. The sale is subject to the signing of a definitive agreement, board of directors and certain other approvals.
FSC
