McMoRan forecasts reduced output in third quarter

09/2/2009 | Reuters

McMoRan Exploration decreased its output forecast for the third quarter after a recent slump at its Flatrock field and shut-ins linked to site repairs. The firm expects average daily production for the period between 210 million and 215 million cubic feet of natural gas equivalent. An earlier estimate called for 220 million cubic feet per day. Fourth-quarter output, however, could climb 33% to a daily average of 215 million cubic feet of natural gas equivalent, McMoRan said.

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