McMoRan Exploration Co. (NYSE:MMR)
About McMoRan Exploration Co. (NYSE:MMR) McMoRan Exploration Co. (McMoRan) is engaged in the exploration, development and production of oil and natural gas offshore in the Gulf of Mexico and onshore in the Gulf Coast area of the United States. Its oil and gas operations are conducted through its principal operating subsidiary, McMoRan Oil & Gas LLC. The Company may engage in multifaceted energy services development of the Main Pass Energy Hub, through its wholly owned subsidiary, FreeportMcMoRan Energy LLC.
Financials According to outcome shown in graph it is visible that revenue has decreased in last quarter ended as on December 31, 2010. It has reached to $99.01 million in quarter ended as on September 30, 2010. The McMoRan Exploration showed mix trend, it started with higher revenue , kept increasing thereafter and it reached the lowest revenue of the year as on September 30, 2010 as revealed in graph. The pessimistic indication in these results is, the last quarter’s revenue is 2.99 percent lower as compared to revenue of third quarter as on September 30, 2010.
McMoRan Exploration generated net loss of $29.77 million in current quarter which is significantly less than previous quarter’s net loss of $20.73 million. Moreover, net income is negative which produced useless EPS for the current quarter. The company’s cash flow from operation stood at $98.23 million as contrasted to last quarter’s cash flow from operation which was placed at $119.70 million. Increased CFO shows that company generated more cash than its expenses. According to most recent financials as on December 31, 2010 total assets mount up to $2.89 billion. Return on equity and return on assets both are decreasing. Total liabilities and total equity stand at $1.17 billion and $1.72 billion respectively.
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