Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  FREEPORT MCMORAN COPPER & GOLD INC
 2. Date of Event Requiring Statement (Month/Day/Year)
12/30/2010		 3. Issuer Name and Ticker or Trading Symbol
MCMORAN EXPLORATION CO /DE/ [MMR]
(Last)
(First)
(Middle)
333 N. CENTRAL AVENUE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

PHOENIX, AZ 85004		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
5 3/4% Convertible Perpetual Preferred Stock, Series 2   (1)   (1) Common Stock 31,250,000 $ 16 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
FREEPORT MCMORAN COPPER & GOLD INC
333 N. CENTRAL AVENUE
PHOENIX, AZ 85004		     X    
Freeport-McMoRan Preferred LLC
333 N. CENTRAL AVENUE
PHOENIX, AZ 85004		     X    

Signatures

Douglas N. Currault II, Authorized Officer 01/07/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On December 30, 2010, Freeport-McMoRan Copper & Gold Inc., through its wholly owned subsidiary Freeport-McMoRan Preferred LLC, purchased 500,000 shares of the Issuer's 5 3/4% Convertible Perpetual Preferred Stock, Series 2 (the "Preferred Stock"). The Preferred Stock is convertible at any time, at the holder's election, into 31,250,000 shares of the Issuer's common stock, subject to applicable anti-dilution adjustments, and has no expiration date.

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