Freeport-McMoRan Inc. (NYSE: FCX) today announced that its wholly-owned
subsidiary, Freeport-McMoRan Oil & Gas Inc. (FM O&G), filed a
registration statement on Form S-1 (the Registration Statement) with the
U.S. Securities and Exchange Commission (SEC) related to its potential
initial public offering (IPO) of Class A common stock representing a
minority interest in FM O&G. FM O&G intends to apply to list the common
stock on the New York Stock Exchange under the ticker “FMOG.”
The Registration Statement relating to these securities has been filed
with the SEC but has not yet become effective. These securities may not
be sold nor may offers to buy be accepted prior to the time the
Registration Statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Barclays will act as book-runner for the proposed IPO. When available,
copies of the preliminary prospectus relating to the proposed IPO may be
obtained from Barclays, attention:
Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155
Long Island Avenue
Edgewood, NY 11717
Barclaysprospectus@broadridge.com
(888)
603-5847
When available, to obtain a copy of the preliminary prospectus free of
charge, visit the SEC’s website and search under “Freeport-McMoRan Oil &
Gas Inc.”
About Freeport-McMoRan Inc.
FCX is a premier U.S.-based natural resources company with an
industry-leading global portfolio of mineral assets, significant oil and
gas resources and a growing production profile. FCX is the world's
largest publicly traded copper producer.
About Freeport-McMoRan Oil & Gas
FM O&G is an upstream oil and gas energy company primarily engaged in
acquiring, exploring for, developing and producing oil and gas
properties. FM O&G's portfolio includes significant U.S. oil and natural
gas assets in the Deepwater GOM, onshore and offshore California and in
the Haynesville natural gas shale, and an industry-leading position in
the emerging Inboard Lower Tertiary/Cretaceous natural gas trend onshore
in South Louisiana.
Cautionary Statement Regarding Forward-Looking Statements: This
press release contains forward-looking statements, which are all
statements other than historical facts, such as statements regarding a
potential initial public offering of a minority ownership stake in FM
O&G. Such risks and uncertainties include, among other things, the
possibility that the initial public offering will not be consummated
within the anticipated time period, or at all, as the result of
regulatory, market or other factors. FCX and FM O&G caution readers that
forward-looking statements are not guarantees of future performance and
actual results may differ materially from those anticipated, projected
or assumed in the forward-looking statements. Important factors that can
cause FCX ‘s and FM O&G’s actual results to differ materially from those
anticipated in the forward-looking statements include commodity prices,
production rates, industry risks, regulatory changes, drilling results,
weather- and climate-related risks and other factors described in more
detail under the heading “Risk Factors” in the Registration Statement on
Form S-1 filed by FM O&G with the SEC and in FCX's Annual Report on Form
10-K for the year ended December 31, 2014, filed by FCX with the SEC as
updated by FCX’s subsequent filings with the SEC.
Investors are cautioned that many of the assumptions upon which FCX’s
and FM O&G’s forward-looking statements are likely to change after the
forward-looking statements are made, including for example commodity
prices, which FCX and FM O&G cannot control, and production volumes and
costs, some aspects of which FCX and FM O&G may or may not be able to
control. Further, FCX and FM O&G may make changes to its business plans
that could affect its results. FCX and FM O&G caution investors that
they do not intend to update forward-looking statements more frequently
than quarterly notwithstanding any changes in FCX’s or FM O&G's
assumptions, changes in business plans, actual experience or other
changes, and neither FCX nor FM O&G undertakes any obligation to update
any forward-looking statements.
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