B.M. “Mack” RankinJr., 83, who co-foundedFreeport-McMoRan Copper & Gold Inc.and served as vice chairman of the board, died Wednesday. Rankin foundedMcMoRan Oil & Gas Co.in 1969 with partnersW.K. McWilliams, who is deceased, and current ChairmanJim Bob Moffatt. In 1981, McMoRan merged withFreeport Minerals Co.to form Freeport-McMoRan Inc., the predecessor parent company, which has since become one of the largest natural resources companies in the world (seeDaily GPI,July 24;Dec. 6, 2012). “We lost a brother, a friend and a valued member of our board of directors,” Moffatt said. “Mack has been a great partner and adviser for many years.” Rankin, who had more than 50 years of experience in the natural resources industry, was a member of the All American Wildcatters and from 2008 to 2010 was chairman of theU.S. Oil and Gas Association. In 2010 the Dallas native received theTexas Oil & Gas AssociationDistinguished Service Award. Rankin, a graduate of theUniversity of Texas at Austin(UT), was a member of the McCombs School of Business Hall of Fame and had received a Distinguished Alumnus Award from the College of Business Administration. Rankin was an avid supporter of UT and endowed, among other things, a professorship in petroleum land management. The UT Longhorn athletic dining hall is named in his honor. Rankin is survived by his wife, Ashley, and son, Richard.
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McMoRan Exploration Co. said during an investor conference last week that it intends to file an application with the U.S. Coast Guard in the first quarter for its proposed Main Pass Energy Hub offshore Louisiana liquefied natural gas (LNG) project. Originally conceived in 2001, the $500 million, 1 Bcf/d LNG terminal at Main Pass Block 299 would be developed at a discontinued sulfur mining operation at one of the largest platform configurations in the Gulf, about 16 miles east of the mouth of the Mississippi River in 210 feet of water (see NGI, Oct. 15, 2001; July 28, 2003). The energy hub would receive, process, store and distribute LNG and natural gas. To date, the company has completed conceptual engineering for the project and intends to file a license application with the U.S. Coast Guard in the first quarter of 2004. It noted that there is significant interest regarding supply and distribution for the project and it is advancing commercial arrangements in parallel with the permitting process.
