Brief: Freeport says engineers estimate proved reserves of about 38 bcf of natural gas at Fm O&G Highlander Discovery

Gulf Coast Ultra Deep Royalty Trust

16/03/2015 21:01

March 16 (Reuters) - Freeport-McMoRan  FCX.N : 
 * After production testing on FM O&G Highlander Discovery,independent 
   Reserve engineers provided estimates of proved reserves-SEC filing 
 * Independent reserve engineers provided estimates of proved reserves totaling 
   approximately 38 bcf of natural gas - SEC filing 
 * Independent reserve engineers provided estimates of proved reserves 
   associated with initial well 
 * Independent reserve engineers estimates of proved,probable,possible reserves 
   for initial well totaled about 197 bcf of natural gas 
 * Based on work performed to date,independent reserveengineers estimate 
   additional gross resources for highlander field exceeding 2 tcf 
 * Fm o&g plans to install additional amine processing facilities to accommodate 
   higher rates 
 * Second well location has been identified and future plans will be determined 
   pending review of performance of the first well 
 * Fm o&g has identified multiple prospects in the highlander area which provide 
   opportunities for future development of the field 
 
 * Source text for Eikon  ID:nEOL9H1v3p  
 
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