Freeport-McMoRan Copper & Gold Inc said on Thursday it would purchase Apache Corp's deepwater oil and gas projects in the Gulf of Mexico for $1.4 billion, a day after announcing it would shed $3.1 billion in Eagle Ford shale assets in Texas.Mining giant Freeport said the Eagle Ford asset sale will fund the purchase of interests in two development projects and 11 deepwater exploration blocks in the Gulf of Mexico.Meanwhile, Apache, known for its experience using hydraulic fracturing, or fracking, to unlock oil and gas from rock, has been selling assets overseas and in the Gulf to focus on lucrative shale fields in North America.A 21 percent rise in liquids production from onshore fields helped Apache post a better-than-expected first-quarter profit on Thursday.
Freeport-McMoRan Copper & Gold Inc. (FCX) is an international mining company. Shares of FCX fell by 0.59% or $-0.2/share to $33.79. In the past year, the shares have traded as low as $26.37 and as high as $38.09. On average, 10253000 shares of FCX exchange hands on a given day and today's volume is recorded at 6177007.
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