UPDATE 1-McMoRan posts loss as failed well tests add to costs

Posted on January 18, 2013 at 08:27 AM EST

Jan 18 (Reuters) - McMoRan Exploration Co reported its fourth straight quarterly loss on higher costs resulting from repeated failures to launch a key gas well, a delay that has prompted bidder Freeport-McMoRan Copper & Gold Inc to lower its offer.

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