Common use of McMoRan Efforts Clause in Contracts

McMoRan Efforts. McMoRan agrees to devote a substantial portion of its oil and gas exploration effort to the operation and management of the Program, which shall include all prospects, except those in the Excluded Areas, acquired and to be acquired by McMoRan during the Program Term within the Program Area, including but not limited to the Initial Leasehold Inventory. McMoRan will at all times have a staff adequate in number, experience and competence to perform its obligations hereunder and accomplish the purposes of the Exploration Program.

McMoRan Efforts. McMoRan agrees to devote a substantial portion of its oil and gas exploration effort to the operation and management of the Program, which shall include all prospects, except those in the Excluded Areas, acquired and to be acquired by McMoRan during the Program Term within the Program Area, including but not limited to the Initial Leasehold Inventory. McMoRan will at all times have a staff adequate in number, experience and competence to perform its obligations hereunder and accomplish the purposes of the Exploration Program. Operator. McMoRan shall be the overall manager of the Program.