Sale takes FCX production down to 7,000 barrels of oil and NGLs, 74 MMcf of natural gas per day
Privately held Sentinel Peak Resources LLC, which is based in Denver, has closed its previously announced acquisition of the onshore California assets of the oil and gas subsidiary of Freeport-McMoRan Inc. (ticker: FCX) for $592 million in cash, before closing adjustments, the companies announced in separate press releases.

Under the terms of the agreement, FCX has the right to receive additional proceeds of $50 million per annum in each of 2018,...

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