As filed
with the Securities and Exchange Commission on August 13,
2008.
Registration No. 333-______
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
_______________
FORM
S-8
REGISTRATION
STATEMENT
under
THE
SECURITIES ACT OF 1933
_______________
McMoRan
Exploration Co.
(Exact
name of registrant as specified in its charter)
Delaware
72-1424200
(State or other
jurisdiction
(I.R.S. Employer
of incorporation or
organization) Identification
No.)
1615
Poydras Street
New
Orleans, Louisiana 70112
(Address,
including zip code, of
Principal
Executive Offices)
McMoRan
Exploration Co. 2008 Stock Incentive Plan
(Full
title of the plan)
_______________
John
G. Amato
General
Counsel
McMoRan
Exploration Co.
1615
Poydras Street
New
Orleans, Louisiana 70112
(504)
582-4000
(Name,
address, including zip code, and telephone number,
including
area code, of agent for service)
Copy
to:
Margaret
F. Murphy
Jones,
Walker, Waechter, Poitevent, Carrère & Denègre, L.L.P.
201
St. Charles Avenue
New
Orleans, Louisiana 70170-5100
121688770
Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
[ ]
Accelerated
filer
[X]
Non-accelerated filer
[ ] (Do not check if a
smaller reporting
company) Smaller
reporting company
[ ]
CALCULATION
OF REGISTRATION FEE
Title
of
securities
to be registered
|
Amount
to be
registered
(1)
|
Proposed
maximum
offering
price
per
unit
|
Proposed
maximum
aggregate
offering
price
|
Amount
of
registration
fee
|
Common
Stock (par value $.01 per share)
Common
Stock (par value $.01 per share)
Common
Stock (par value $.01 per share)
|
3,828,500
Shares
1,654,500
Shares
12,000
Shares
|
$25.20
(2)
$15.04
(3)
$31.92
(3)
|
$96,478,200
(2)
$24,883,680
(3)
$383,040
(3)
|
--
--
--
|
|
Common
Stock (par value $.01 per share)
Total
Preferred
Stock Purchase Rights
|
5,000
Shares
5,500,000
Shares
5,500,000
Shares
|
$24.37
(3)
--
--
(4)
|
$121,850
(3)
$121,688,770
--
(4)
|
--
$4,789.36
--
(4)
|
(1)
Upon a stock split, stock dividend or similar transaction in the
future involving our Common Stock and during the effectiveness of this
Registration Statement, the number of shares and rights registered shall
be automatically increased to cover the additional shares and rights in
accordance with Rule 416(a) under the Securities Act of 1933.
(2)
Estimated solely for the purpose of calculating the registration
fee pursuant to Rule 457(c) under the Securities Act of 1933, based on the
average of the high and low price per share of our Common Stock on the New
York Stock Exchange on August 11, 2008.
(3)
Computed in accordance with Rule 457(h) under the Securities Act of
1933, based upon the price at which outstanding options granted under the
Plan may be exercised.
(4)
Preferred Stock Purchase Rights (the “Rights”) are attached to and
trade with the Registrant’s Common Stock. The value
attributable to the Rights, if any, is reflected in the market price of
such Common Stock. Because no separate consideration is paid
for the Rights, the registration fee for such securities is included in
the fee for such Common
Stock.
|
PART
II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item
3. Incorporation of Documents by Reference.
The
following documents, which have been filed by McMoRan Exploration Co. with the
Securities and Exchange Commission (the “Commission”), are incorporated herein
by reference:
(a) Our
Annual Report on Form 10-K for the year ended December 31, 2007, as
amended by Form 10-K/A filed April 24, 2008;
(b) All
other reports filed by us pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 since the end of the fiscal year covered by the Annual
Report referred to in (a); and
(c) The
description of our Common Stock and Preferred Stock Purchase Rights included in
our Registration Statement on Form 8-A filed November 13, 1998, and effective
November 16, 1998, by incorporation by reference from pages 119-124 of Amendment
No. 1 to our Registration Statement on Form S-4 (Registration No. 333-61171),
including any amendment thereto or report filed for the purpose of updating such
description.
All
documents filed by us with the Commission pursuant to Sections 13(a), 13(c), 14
and 15(d) of the Securities Exchange Act of 1934 subsequent to the date of this
Registration Statement and prior to the filing of a post-effective amendment
that indicates that all securities offered have been sold or that deregisters
all securities then remaining unsold shall, except to the extent otherwise
provided by Regulation S-K or any other rule promulgated by the Commission, be
deemed to be incorporated by reference in this Registration Statement and to be
part hereof from the date of filing of such documents.
Item
4. Description of Securities.
Not
applicable.
Item
5. Interests of Named Experts and Counsel.
Not
applicable.
Item
6. Indemnification of Directors and Officers.
Section
145 of the General Corporation Law of Delaware empowers us to indemnify, subject
to the standards prescribed in that Section, any person in connection with any
action, suit or proceeding brought or threatened by reason of the fact that the
person is or was our director, officer, employee or agent. Article VIII of our
certificate of incorporation provides that our company shall indemnify any
person who is or was a director, officer, employee or agent of our company, to
the fullest extent authorized by law. In addition, Section 10 of our
bylaws provides that we shall defend and indemnify each person who was or is
made a party to, or is threatened to
be made a
party to, or is otherwise involved in, any action, suit, or proceeding by reason
of the fact that the person is or was our director, officer, employee or agent
if:
·
|
the
director, officer, agent or employee is successful in defending the claim
on its merits or otherwise; or
|
·
|
the
director, officer, agent or employee meets the standard of conduct
described in Section 10 of our
bylaws.
|
However,
the director, officer, agent or employee of our company will not be entitled to
indemnification if:
·
|
the
claim is one brought by the director, officer, agent or employee against
our company; or
|
·
|
the
claim is one brought by the director, officer, agent or employee as a
derivative action by our company or in the right of our company, and the
action is not approved by our board of
directors.
|
The
rights conferred by Article VIII of our certificate of incorporation and Section
10 of our bylaws are contractual rights and include the right to be paid by us
the expenses incurred in defending the action, suit or proceeding in advance of
its final disposition.
Article
VIII of our certificate of incorporation provides that our directors will not be
personally liable to us or our stockholders for monetary damages resulting from
breaches of their fiduciary duty as directors except (1) for any breach of the
duty of loyalty to us or our stockholders, (2) for acts or omissions not in good
faith or which involve intentional misconduct or a knowing violation of law, (3)
under Section 174 of the General Corporation Law of Delaware, which makes
directors liable for unlawful dividend or unlawful stock repurchases or
redemptions or (4) transactions from which directors derive improper personal
benefit.
We have
insurance policies insuring our directors and officers against certain
liabilities, including liabilities under the Securities Act of
1933.
Item
7. Exemption from Registration Claimed.
Not
applicable.
Item
8. Exhibits.
|
5
|
Opinion
of Jones, Walker, Waechter, Poitevent, Carrère & Denègre,
L.L.P.
|
|
15
|
Letter
dated August 12, 2008, from Ernst & Young LLP regarding the unaudited
interim financial statements.
|
|
23.1
|
Consent
of Ernst & Young LLP.
|
|
23.2
|
Consent
of Ryder Scott Company, L.P.
|
|
23.3
|
Consent
of Jones, Walker, Waechter, Poitevent, Carrère & Denègre, L.L.P.
(included in Exhibit 5).
|
|
24.1
|
Certified
Resolution of our Board of Directors authorizing this report to be signed
on behalf of any officer or director pursuant to a Power of
Attorney.
|
|
24.2
|
Powers
of Attorney pursuant to which this Registration Statement has been signed
on behalf of certain of our officers and
directors.
|
Item
9. Undertakings.
(a) The
undersigned registrant hereby undertakes:
(1)
To file,
during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act of
1933;
(ii)
To reflect in the prospectus any facts or events arising after the effective
date of this registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in this registration
statement. Notwithstanding the foregoing, any increase or decrease in
volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than a 20 percent
change in the maximum aggregate offering price set forth in the “Calculation of
Registration Fee” table in the effective registration statement;
(iii) To
include any material information with respect to the plan of distribution not
previously disclosed in this registration statement or any material change to
such information in this registration statement;
Provided, however
, that
paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the registrant
pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
that are incorporated by reference in this registration statement.
(2)
That, for
the purpose of determining any liability under the Securities Act of 1933, each
such post-effective amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering
thereof.
(3)
To remove
from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the
offering.
(b) The
undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrant’s
annual report pursuant to section 13(a) or section 15(d) of the Securities
Exchange Act of 1934 that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
(c) Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may
be permitted to directors, officers and controlling persons of the registrant
pursuant to the foregoing provisions, or otherwise, the registrant has been
advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Securities Act of
1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question of whether such
indemnification by it is against public policy as expressed in the Securities
Act of 1933 and will be governed by the final adjudication of such
issue.
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of New
Orleans, State of Louisiana, on August 13, 2008.
McMoRan EXPLORATION CO.
By:
/s/ Richard C.
Adkerson
Richard
C. Adkerson
Co-Chairman
of the Board
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities indicated on August
13, 2008.
*
|
Co-Chairman
of the Board
|
James
R. Moffett
|
|
|
|
/s/
Richard C. Adkerson
|
Co-Chairman
of the Board
|
Richard
C. Adkerson
|
|
|
|
*
|
President
and Chief Executive Officer
|
|
(Principal Financial Officer)
|
|
|
*
|
Executive
Vice President
|
|
|
|
|
*
|
Senior
Vice President, Chief Financial
|
Nancy
D. Parmelee
|
Officer
and Secretary
|
|
(Principal
Financial Officer)
|
|
|
*
|
Vice
President and Controller - Financial Reporting
|
C.
Donald Whitmire, Jr.
|
(Principal
Accounting Officer)
|
|
|
*
|
Director
|
Robert
A. Day
|
|
|
|
*
|
Director
|
Gerald
J. Ford
|
|
|
|
*
|
Director
|
H.
Devon Graham, Jr.
|
|
|
|
*
|
Director
|
Suzanne
T. Mestayer
|
|
|
|
*By:
/s/ Richard C. Adkerson
|
|
Richard
C. Adkerson
|
|
Attorney-in-Fact
|
|
EXHIBIT
INDEX
Exhibit
Number
Description of
Exhibits
|
|
Opinion
of Jones, Walker, Waechter, Poitevent, Carrère & Denègre,
L.L.P.
|
|
|
Letter
dated August 12, 2008, from Ernst & Young LLP regarding the unaudited
interim financial statements.
|
|
|
Consent
of Ernst & Young LLP.
|
|
|
Consent
of Ryder Scott Company, L.P.
|
|
|
Consent
of Jones, Walker, Waechter, Poitevent, Carrère & Denègre, L.L.P.
(included in Exhibit 5).
|
|
|
Certified
Resolution of our Board of Directors authorizing this report to be signed
on behalf of any officer or director pursuant to a Power of
Attorney.
|
|
|
Powers
of Attorney pursuant to which this Registration Statement has been signed
on behalf of certain of our officers and
directors.
|
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