Davis Polk advised Freeport-McMoRan Inc. (the “Company”) in connection with its offer to exchange any and all of the 6.125% senior notes due 2019, 6.50% senior notes due 2020, 6.625% senior notes due 2021, 6.75% senior notes due 2022 and 6.875% senior notes due 2023 (collectively, the “Existing Notes”) of Freeport-McMoRan Oil & Gas LLC, FCX Oil & Gas LLC and FMSTP Inc., guaranteed by the Company, for newly issued 6.125% senior notes due 2019, 6.50% senior notes due 2020, 6.625% senior notes due 2021, 6.75% senior notes due 2022 and 6.875% senior notes due 2023 of the Company, guaranteed by Freeport-McMoRan Oil & Gas LLC. A total of approximately $2.1 billion aggregate principal amount of Existing Notes, or 89.28% of the Existing Notes outstanding, were tendered for exchange in the exchange offers. Davis Polk also advised the Company in connection with its solicitation of consents to certain amendments to the indentures governing the Existing Notes.

FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is the world’s largest publicly traded copper producer.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr., counsel Jeffrey S. Ramsay and associates Alice Z. Chen, Roohi Gupte and Nara Lee. The tax team included partner Kathleen L. Ferrell. The environmental team included counsel Loyti Cheng and associate Michael Comstock. All members of the Davis Polk team are based in the New York office.

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