SUPPLEMENTARY OIL AND GAS INFORMATION (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2014

Supplementary Oil and Gas Information [Abstract]

Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]

FCX's oil and gas acquisition, exploration and development activities for the years ended December 31 follows:

	2014		2013a
Property acquisition costs:
Proved properties	$	463	$	12,205	b
Unproved properties	1,460		11,259		c
Exploration costs	1,482		502
Development costs	1,270		854
	$	4,675	$	24,820

a. Includes the results of FM O&G beginning June 1, 2013.

b. Includes $12.2 billion from the acquisitions of PXP and MMR.

c. Includes $11.1 billion from the acquisitions of PXP and MMR.

Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure [Table Text Block]

The aggregate capitalized costs subject to amortization for oil and gas properties and the aggregate related accumulated amortization as of December 31 follow:

	2014				2013
Properties subject to amortization	$	16,547			$	13,829
Accumulated amortization	(7,360		)	a	(1,357		)
	$	9,187			$	12,472

a. Includes charges of $3.7 billion to reduce the carrying value of oil and gas properties pursuant to full cost accounting rules.

Schedule of Capitalized Costs of Unproved Properties Excluded from Amortization [Table Text Block]

A summary of the categories of costs comprising the amount of unproved properties not subject to amortization by the year in which such costs were incurred follows:

	December 31,
	Total		2014		2013
U.S.:
Onshore
Acquisition costs	$	2,303	$	18	$	2,285
Exploration costs	121		119		2
Capitalized interest	27		22		5
Offshore
Acquisition costs	7,094		1,413		5,681
Exploration costs	429		387		42
Capitalized interest	75		39		36
International:
Offshore
Acquisition costs	15		—		15
Exploration costs	23		23		—
Capitalized interest	—		—		—
	$	10,087	$	2,021	$	8,066

Results of Operations for Oil and Gas Producing Activities Disclosure [Table Text Block]

The results of operations from oil and gas producing activities for the year ended December 31, 2014, and the period from June 1, 2013, to December 31, 2013, presented below exclude non-oil and gas revenues, general and administrative expenses, goodwill impairment, interest expense and interest income. Income tax benefit (expense) was determined by applying the statutory rates to pre-tax operating results:

	Year Ended			June 1, 2013 to
	December 31, 2014			December 31, 2013
Revenues from oil and gas producing activities	$	4,710		$	2,616
Production and delivery costs	(1,237		)	(682		)
Depreciation, depletion and amortization	(2,265		)	(1,358		)
Impairment of oil and gas properties	(3,737		)	—
Income tax benefit (expense) (based on FCX's statutory tax rate)	958			(219		)
Results of operations from oil and gas producing activities	$	(1,571	)	$	357

Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block]

The following table sets forth certain data pertaining to proved, proved developed and proved undeveloped reserves, all of which are in the U.S., for the years ended December 31, 2014 and 2013.

	Oil		Gas		Total
	(MMBbls)a,b		(Bcf)a		(MMBOE)a
2014
Proved reserves:
Balance at beginning of year	370		562		464
Extensions and discoveries	10		35		16
Acquisitions of reserves in-place	14		9		16
Revisions of previous estimates	(10	)	140		13
Sale of reserves in-place	(53	)	(54	)	(62	)
Production	(43	)	(82	)	(57	)
Balance at end of year	288		610		390
Proved developed reserves at December 31, 2014	184		369		246
Proved undeveloped reserves at December 31, 2014	104		241		144

2013
Proved reserves:
Balance at beginning of year	—		—		—
Acquisitions of PXP and MMR	368		626		472
Extensions and discoveries	20		20		24
Revisions of previous estimates	11		(26	)	7
Sale of reserves in-place	—		(3	)	(1	)
Production	(29	)	(55	)	(38	)
Balance at end of year	370		562		464
Proved developed reserves at December 31, 2013	236		423		307
Proved undeveloped reserves at December 31, 2013	134		139		157

a. MMBbls = million barrels; Bcf = billion cubic feet; MMBOE = million BOE

b. Includes 10 MMBbls of NGL proved reserves (7 MMBbls of developed and 3 MMBbls of undeveloped) at December 31, 2014

Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves Disclosure [Table Text Block]

The Standardized Measure related to proved oil and natural gas reserves as of December 31 follows:

	2014			2013
Future cash inflows	$	29,504		$	38,901
Future production expense	(10,991		)	(12,774		)
Future development costsa	(6,448		)	(6,480		)
Future income tax expense	(2,487		)	(4,935		)
Future net cash flows	9,578			14,712
Discounted at 10% per year	(3,157		)	(5,295		)
Standardized Measure	$	6,421		$	9,417

a. Includes estimated asset retirement costs of $1.8 billion at December 31, 2014 and 2013.

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block]

A summary of the principal sources of changes in the Standardized Measure for the years ended December 31 follows:

	2014			2013a
Balance at beginning of year	$	9,417		$	—
Changes during the year:
Reserves acquired in the acquisitions of PXP and MMR	—			14,467
Sales, net of production expenses	(3,062		)	(2,296		)
Net changes in sales and transfer prices, net of production expenses	(2,875		)	(459		)
Extensions, discoveries and improved recoveries	194			752
Changes in estimated future development costs	(498		)	(1,190		)
Previously estimated development costs incurred during the year	982			578
Sales of reserves in-place	(1,323		)	(12		)
Other purchases of reserves in-place	487			—
Revisions of quantity estimates	399			102
Accretion of discount	1,195			701
Net change in income taxes	1,505			(3,226		)
Total changes	(2,996		)	9,417
Balance at end of year	$	6,421		$	9,417

a. Includes the results of FM O&G beginning June 1, 2013.