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                        UNITED STATES              OMB Number:3235-0145
              SECURITIES AND EXCHANGE COMMISSION   Expires:  October 31, 2002
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                          SCHEDULE 13D

            Under the Securities Exchange Act of 1934
                       (Amendment No. __)*

                     McMoRan Exploration Co.
                        (Name of Issuer)

                          Common Stock
                 (Title of Class of Securities)

                            582411104
                         (CUSIP Number)

                     Douglas N. Currault II
                       1615 Poydras Street
                  New Orleans, Louisiana 70112
                         (504) 582-8412
          (Name, Address and Telephone Number of Person
        Authorized to Receive Notices and Communications)

                          June 21, 2002
     (Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule
13G  to  report  the  acquisition that is  the  subject  of  this
Schedule  13D, and is filing this schedule because of  &&240.13d-
1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ].

Note:   Schedules  filed in paper format shall include  a  signed
original and five copies of the schedule, including all exhibits.
See &240.13d-7 for other parties to whom copies are to be sent.

*The  remainder  of this cover page shall be  filled  out  for  a
reporting  person's initial filing on this form with  respect  to
the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided  in
a prior cover page.

The  information  required on the remainder of  this  cover  page
shall  not be deemed to be "filed" for the purpose of Section  18
of  the  Securities  Exchange Act of 1934  ("Act")  or  otherwise
subject  to the liabilities of that section of the Act but  shall
be  subject to all other provisions of the Act (however, see  the
Notes).

     Potential  persons who are to respond to the  collection
     of  information contained in this form are not  required
     to  respond  unless the form displays a currently  valid
     OMB control number.

     SEC 1746 (2-98)



CUSIP No. 582411104
- --------------------------------------------------------------
1.  Name of Reporting Persons.  I.R.S. Identification Nos. of
    above persons (entity only).
    James R. Moffett
- --------------------------------------------------------------
2.  Check the Appropriate Box if a Member of a Group (See
    Instructions)
    (a)
    (b)
- --------------------------------------------------------------
3.  SEC Use Only
- --------------------------------------------------------------
4.  Source of Funds (See Instructions)                     PF
- --------------------------------------------------------------
5.  Check if Disclosure of Legal Proceedings Is Required
    Pursuant to Items 2(d) or 2(e)
- --------------------------------------------------------------
6.  Citizenship or Place of Organization        United States
- --------------------------------------------------------------
  Number of    7.  Sole Voting Power                  336,760
   Shares      -----------------------------------------------
Beneficially
  Owned by
    Each
  Reporting
 Person with
               8.  Shared Voting Power                521,585
               -----------------------------------------------
               9.  Sole Dispositive Power             336,760
               -----------------------------------------------
               10. Shared Dispositive Power           521,585
               -----------------------------------------------
11. Aggregate Amount Beneficially Owned by            858,345
    Each Reporting Person
- --------------------------------------------------------------
12. Check if the Aggregate Amount in Row                  N/A
    (11) Excludes Shares (See Instructions)
- --------------------------------------------------------------
13. Percent of Class Represented by Amount            5.2%(1)
    in Row (11)
- --------------------------------------------------------------
14. Type of Person Reporting (See                          IN
    Instructions)
- --------------------------------------------------------------
          (1)  Based on 16,018,167 shares of Common Stock of the
Issuer outstanding as of July 1, 2002, plus options to acquire
336,760 shares of Common Stock of the Issuer held by the
Reporting Person and preferred stock convertible into 159,563
shares of Common Stock of the Issuer held by the Reporting
Person.



Item 1.   Security and Issuer.

      This statement relates to the common stock, par value $0.01
per  shares (the "Common Stock"), of McMoRan Exploration Co. (the
"Issuer"), a Delaware corporation.  The address of the  principal
executive  offices  of  the Issuer is 1615  Poydras  Street,  New
Orleans, Louisiana 70112.

Item 2.   Identity and Background.

      (a),  (b),  and (c)   This statement is filed by  James  R.
Moffett  (the "Reporting Person").  The business address  of  the
Reporting  Person is 1615 Poydras Street, New Orleans,  Louisiana
70112.   James  R.  Moffett is Co-Chairman of the  Board  of  the
Issuer,  which  is  engaged in the exploration,  development  and
production  of  oil and gas offshore in the Gulf  of  Mexico  and
onshore in the Gulf Coast region.

      (d)   The  Reporting  Person has not been  convicted  in  a
criminal  proceeding  (excluding traffic  violations  or  similar
misdemeanors) during the past five years.

      (e)   The Reporting Person has not been a party to a  civil
proceeding  of  a  judicial or administrative body  of  competent
jurisdiction and as a result of such proceeding was or is subject
to  a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or
state  securities laws or finding any violation with  respect  to
such laws during the past five years.

     (f)  The Reporting Person is a United States citizen.

Item 3.   Source and Amount of Funds or Other Consideration.

      Moffett  Holdings, L.L.C., a limited liability  company  of
which Mr. Moffett is a member ("Moffett Holdings"), used $767,500
of  its  own funds to purchase 5% convertible preferred stock  of
the  Issuer on June 21, 2002 for $25.00 per share.  This purchase
increased  the  Reporting Person's beneficial  ownership  of  the
Common Stock to over 5%.

Item 4.   Purpose of Transaction.

      The  Issuer registered for sale 1,400,000 shares of its  5%
convertible  preferred  stock with the  Securities  and  Exchange
Commission  on June 18, 2002.  Moffett Holdings purchased  30,700
of  such  shares in the offering for investment purposes.   These
30,700  shares  of preferred stock are convertible  into  159,563
shares  of  Common Stock (.97% of the outstanding Common  Stock).
As  a  result of this purchase, the Reporting Person  became  the
beneficial owner of more than 5% of the Common Stock.

      As of the date hereof, there are no plans or proposals that
the  Reporting Person has that relate to or would result  in  (a)
the acquisition of securities of the Issuer or the disposition of
securities   of  the  Issuer;  (b)  an  extraordinary   corporate
transaction,  such  as a merger, reorganization  or  liquidation,
involving  the Issuer or any of its subsidiaries; (c) a  sale  or



transfer of a material amount of assets of the Issuer or  any  of
its  subsidiaries;  (d)  any  change  in  the  present  board  of
directors or management of the Issuer; (e) any material change in
the  present capitalization or dividend policy of the Issuer; (f)
any  other  material change in the Issuer's business or corporate
structure;   (g)   changes   in  the  Issuer's   certificate   of
incorporation,   by-laws,  or  other  instruments   corresponding
thereto  or  other  actions that may impede  the  acquisition  of
control  of the Issuer by any person; (h) causing any  change  in
the  trading market of any class of securities of the Issuer; (i)
a  class of equity securities of the Issuer becoming eligible for
termination of registration under the Securities Exchange Act  of
1934;  or (j) any action similar to any of the matters enumerated
above.   James  R.  Moffett is Co-Chairman of the  Board  of  the
Issuer.   In the course of performing his duties for the  Issuer,
Mr.  Moffett  may  discuss one or more of the matters  enumerated
above with the directors of the Issuer or the Issuer's management
or  may  formulate a plan or proposal relating to one or more  of
the matters enumerated above.

Item 5.   Interest in Securities of the Issuer.

     (a),  (b), and (d)   As of the date hereof, James R. Moffett
is  the  beneficial owner of 858,345 shares of the Common  Stock,
which  is  approximately 5.2% of the outstanding  shares  of  the
Common  Stock.   Mr. Moffett has the sole power  to  vote  or  to
direct  the  vote and the sole power to dispose or to direct  the
disposition of 336,760 of such shares, which he has the right  to
acquire  within 60 days upon the exercise of stock  options.   He
shares  the  power to vote or to direct the vote and  shares  the
power to dispose or to direct the disposition of 521,585 of  such
shares.   All  of  such 521,585 shares as to  which  Mr.  Moffett
shares  voting and investment power are held by Moffett Holdings,
which  has the right to receive dividends from, and the  proceeds
from  the  sale  of, such shares.  The Reporting Person  has  the
right  to acquire beneficial ownership of 159,563 of such  shares
upon the conversion of preferred stock.

     (c)   The Reporting Person had no transactions in the Common
Stock  of the Issuer in the past 60 days, except for the purchase
of  23,500  shares of Common Stock on June 28, 2002 in  the  open
market at a price of $4.2988 per share.

     (e)   Date  the Reporting Person ceased to beneficially  own
more than 5% of shares:

          Not applicable

Item    6.      Contracts,   Arrangements,   Understandings    or
Relationships with Respect to Securities of the Issuer.

      The Reporting Person is the Co-Chairman of the Board of the
Issuer.   As  of  the date hereof, the Reporting Person  has  the
right to acquire 336,760 shares of Common Stock upon the exercise
of options granted pursuant to the Issuer's stock option plans.

Item 7.   Material to be Filed as Exhibits.

     None.



                            SIGNATURE

     After reasonable inquiry and to the best of my knowledge and
belief,  I  certify  that  the  information  set  forth  in  this
statement is true, complete and correct.



         July 2, 2002                 /s/ James R. Moffett
   ----------------------            ------------------------
             Date                         James R. Moffett

The  original statement shall be signed by each person  on  whose
behalf  the  statement is filed or his authorized representative.
If  the  statement  is  signed on  behalf  of  a  person  by  his
authorized  representative (other than an  executive  officer  or
general   partner  of  the  filing  person),  evidence   of   the
representative's authority to sign on behalf of such person shall
be  filed with the statement:  provided, however, that a power of
attorney  for  this purpose which is already  on  file  with  the
Commission  may be incorporated by reference.  The name  and  any
title  of  each person who signs the statement shall be typed  or
printed beneath his signature.



   Attention:  Intentional misstatements or omissions of fact
   constitute Federal criminal violations (See 18 U.S.C. 1001)