December 16, 2017 11:44 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Freeport-McMoRan Oil & Gas Inc.

Company Overview

Freeport-McMoRan Oil & Gas Inc. acquires, explores, develops, and produces oil and gas in the United States. It owns oil and gas properties with principal operations in onshore California, offshore California, the Gulf of Mexico, the Gulf Coast region, and the Rocky Mountains. The company was founded in 2002 and is headquartered in Houston, Texas. Freeport-McMoRan Oil & Gas Inc. operates as a subsidiary of Freeport-Mcmoran Oil & Gas LLC.

700 Milam Street

Suite 3100

Houston, TX 77002

United States

Founded in 2002

Phone:

713-579-6000

Fax:

713-579-6611

Key Executives for Freeport-McMoRan Oil & Gas Inc.

Executive Vice President of Operations
Vice President of Environmental, Health, Safety and Government Affairs
Compensation as of Fiscal Year 2017.

Freeport-McMoRan Oil & Gas Inc. Key Developments

Freeport-McMoRan Oil & Gas Discloses Another Round of Divestiture-Related Job Cuts

Freeport-McMoRan Inc. has disclosed another round of job cuts. Freeport-McMoRan Oil & Gas recently notified the Texas Workforce Commission that it plans to cut another 25 jobs in Houston during the two-week period beginning June 30. The majority of the affected employees were expected to be placed on a paid leave of absence beginning May 1. The employees affected by the latest round of cuts are at 700 Milam St., suite 3100, in downtown Houston. Previously, FM Oil & Gas disclosed it would cut 36 jobs between March 31 and April 13, 20 jobs between April 30 and May 13 and 24 jobs between June 5 and June 19 due to the divestitures. Those divestiture-related cuts came after previous workforce reductions the company made last year. As with the previous rounds of job cuts, employees affected by the June 30 cuts do not have bumping rights and are not represented by a union. Freeport-McMoRan plans to offer the affected employees severance benefits and transition programs, including outplacement services.

Freeport-McMoRan Oil & Gas Plans to Cut Another 24 Jobs in Houston

Freeport-McMoRan Oil & Gas notified the Texas Workforce Commission that it plans to cut another 24 jobs in Houston during the two-week period beginning June 5. This is the company's third Worker Adjustment and Retraining Notification Act letter to cite its recent divestiture as the cause of the Houston job cuts. The employees affected by the latest round of cuts are at 700 Milam St., suite 3100, in downtown Houston.

Anadarko Petroleum Corp. and Freeport-McMoRan Inc. Announce to Cut Jobs

Anadarko Petroleum Corp. and Freeport-McMoRan Inc. are cutting jobs tied to recent or upcoming asset sales. The companies disclosed the cuts in separate Worker Adjustment and Retraining Notification Act letters that the Texas Workforce Commission received last week and released Feb. 13. Anadarko plans to cut 85 jobs in Carrizo Springs, Texas. Those cuts are associated with the planned sale of all exploration and production assets managed out of the company's office at 4674 U.S. Highway 277. The job cuts currently are scheduled to occur between April 10 and April 23, but they might not occur if the asset sale does not go through. Affected employees do not have union representation or bumping rights, meaning workers with more seniority cannot take jobs from those with less seniority. However, affected employees may be eligible for Anadarko's severance package, which includes an outplacement-assistance program. Meanwhile, Freeport-McMoRan Oil & Gas will cut another 36 jobs in the Houston area between March 31 and April 13. The affected employees work at 700 Milam St., suite 3100, and 717 Texas St., suite 2100, in downtown Houston. They do not have bumping rights and are not represented by a union. Freeport-McMoRan plans to offer the affected employees severance benefits and transition programs, including outplacement services.

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