FCX And EXXI Go Quiet On The Shallow Water Ultra Deep

#Energy Now that McMoRan Exploration is part of Freeport McMoRan, FCX and its junior partner Energy XXI have gone relatively silent on the developments in the Shallow Water Ultra Deep play in the Gulf of Mexico. Freeport spoke with analysts on 10/22 and Energy XXI had its analyst day in NYC on 10/23. SWUD was given short shrift by both. Each company is now focusing on oil activities in a world where oil is selling at prices around $100 per barrel even while the glut of shale gas in the United States has pushed prices down near $3.50. Even so, completion of Davy Jones 2 is to start in December, more than a year behind the original schedule.. Success there could reignite interest in this play as an important added resource for both of these companies.http://www.forbes.com/sites/joanlappin/2013/10/28/fcx-and-exxi-go-quiet-on-the-shallow-water-ultra-deep/ http://bit.ly/15KdByZ