SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C.  20549



                            FORM 8-K

                         CURRENT REPORT

             Pursuant to Section 13 or 15(d) of the

                 Securities Exchange Act of 1934

 Date of Report (Date of earliest event reported):  May 31, 2002



                     McMoRan Exploration Co.

    Delaware                001-07791          72-1424200
 (State or other           (Commission       (IRS Employer
 jurisdiction of           File Number)      Identification
 incorporation or                                Number)
  organization)

                       1615 Poydras Street
                  New Orleans, Louisiana  70112

 Registrant's telephone number, including area code:  (504) 582-4000


Item 5.  Other Events and Regulation FD Disclosure.

McMoRan announces the following matters regarding its sulphur
bank credit facility and reclassifies its year-end 2001 financial
statements to reflect its sulphur business activities on a
discontinued operations basis.


     On May 31, 2002, we announced that we expect the previously
announced sale of our sulphur transportation and terminaling
business will be consummated in June 2002.  We have extended our
sulphur bank credit facility from May 31, 2002 to June 17, 2002
(Exhibit 99.1).   The sales transaction is expected to provide us
with gross proceeds of $58 million, which will be used to fund
our sulphur working capital requirements, transaction costs and
to repay most of the borrowings under our sulphur credit
facility, which on June 6, 2002 totaled $56.0 million.  We
currently estimate that approximately $8 million will remain
outstanding under the sulphur credit facility after the sales
transaction is completed.  As previously disclosed, we had an
agreement with the lenders in the sulphur bank credit facility to
repay this outstanding amount by September 30, 2002, subject to
the satisfaction of certain conditions.  This agreement has been
amended to provide for the repayment of the remaining outstanding
amount by August 15, 2002.


     On January 1, 2002, we adopted Statement of Financial
Accounting Standards No. 144, "Accounting for the Impairment or
Disposal of Long-Lived Assets."   As a result of our signing a
definitive agreement in March 2002 to sell substantially all of
our sulphur transportation and terminaling assets to a joint
venture to be owned completely by unrelated third parties, in the
first quarter of 2002 we began presenting our sulphur operating
results using the discontinued operations presentation
appropriate under SFAS No. 144.  Under this presentation all of
our sulphur operating results within the statement on operations
have been netted into the caption entitled "income (loss) from
discontinued sulphur operations".  All major classes of assets
and liabilities related to the sulphur business held for sale
have also been separately shown for all periods presented. See
Exhibit 99.2 for our restated year-end 2001 Consolidated
Financial Statements together with the related Notes to the
Consolidated Financial Statements and Management's Discussion and
Analysis of Financial Condition and Results of Operations and
Disclosures About Market Risks.


Item 7.  Financial Statements and Exhibits

     This report contains the following exhibits:

     *  McMoRan Exploration Co.'s Item 6. Selected Financial Data,
        Items 7. and 7A. Management's Discussion and Analysis of
        Financial Condition and Results of Operations and Disclosure
        About Market Risks and Item 8. Financial Statements and
        Supplementary Data including the audited consolidated balance
        sheets as of December 31, 2001 and 2000 and related audited
        consolidated statements of operations, cash flows and changes in
        stockholders' equity for each of the three years in the period
        ended December 31, 2001, together with accompanying notes and the
        report thereon of McMoRan's independent public accountants
        (Exhibit 99.2).

     *  Computation of Ratio of Earnings to Fixed Charges (Exhibit
        12.1).

     *  Consents of Arthur Andersen LLP (Exhibit 23.1) and Ryder
        Scott LP (Exhibit 23.2).

     *  Press release dated May 31, 2002 entitled "McMoRan
        Exploration Announces Anticipated June 2002 Closing of Sulphur
        Transportation and Terminaling Asset Sale and Extension of Bank
        Credit Facility Maturity."



                            SIGNATURE
                       ------------------

     Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.

                              McMoRan Exploration Co.


                              By:  /s/ C. Donald Whitmire Jr.
                                   ------------------------------
                                       C. Donald Whitmire, Jr.
                                  Vice President & Controller -
                                        Financial Reporting
                                     (authorized signatory and
                                    Principal Accounting Officer)

Date:  June 10, 2002


                     McMoRan Exploration Co.
                          Exhibit Index

Exhibit
Number

12.1   Computation of Ratio of Earnings to Fixed Charges

23.1   Consent of Arthur Andersen LLP

23.2   Consent of Ryder Scott, L.P.

99.1   Press release dated May 31, 2002.

99.2   Item 6. Selected Financial Data.
       Items 7. and 7A.   Management's Discussion and Analysis of
       Financial Condition and Results of Operations and
       Disclosures About Market Risks.
       Item 8. Financial Statements and Supplementary Data
          Balance Sheets as of December 31, 2001 and 2000
          Statements of Operations for each of the three years in the
           period ended December 31, 2001
          Statements of Cash Flow for each of the three years in the
           period ended December 31, 2001
          Statements of Changes in Stockholders' Equity for each of
           the three years in the period ended December 31, 2001
          Notes to Financial Statements
          Report of Independent Public Accountants

99.3   Letter regarding receipt of certain representations from
       Arthur Andersen LLP concerning that firm's compliance
       with professional auditing standards.
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SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C.  20549

                            FORM 8-K

                         CURRENT REPORT

             Pursuant to Section 13 or 15(d) of the

                 Securities Exchange Act of 1934

 Date of Report (Date of earliest event reported):  May 31, 2002

                     McMoRan Exploration Co.

    Delaware                001-07791          72-1424200
 (State or other           (Commission       (IRS Employer
 jurisdiction of           File Number)      Identification
 incorporation or                                Number)
  organization)

                       1615 Poydras Street
                  New Orleans, Louisiana  70112

 Registrant's telephone number, including area code:  (504) 582-4000

Item 5.  Other Events and Regulation FD Disclosure.

McMoRan announces the following matters regarding its sulphur
bank credit facility and reclassifies its year-end 2001 financial
statements to reflect its sulphur business activities on a
discontinued operations basis.

     On May 31, 2002, we announced that we expect the previously
announced sale of our sulphur transportation and terminaling
business will be consummated in June 2002.  We have extended our
sulphur bank credit facility from May 31, 2002 to June 17, 2002
(Exhibit 99.1).   The sales transaction is expected to provide us
with gross proceeds of $58 million, which will be used to fund
our sulphur working capital requirements, transaction costs and
to repay most of the borrowings under our sulphur credit
facility, which on June 6, 2002 totaled $56.0 million.  We
currently estimate that approximately $8 million will remain
outstanding under the sulphur credit facility after the sales
transaction is completed.  As previously disclosed, we had an
agreement with the lenders in the sulphur bank credit facility to
repay this outstanding amount by September 30, 2002, subject to
the satisfaction of certain conditions.  This agreement has been
amended to provide for the repayment of the remaining outstanding
amount by August 15, 2002.

     On January 1, 2002, we adopted Statement of Financial
Accounting Standards No. 144, "Accounting for the Impairment or
Disposal of Long-Lived Assets."   As a result of our signing a
definitive agreement in March 2002 to sell substantially all of
our sulphur transportation and terminaling assets to a joint
venture to be owned completely by unrelated third parties, in the
first quarter of 2002 we began presenting our sulphur operating
results using the discontinued operations presentation
appropriate under SFAS No. 144.  Under this presentation all of
our sulphur operating results within the statement on operations
have been netted into the caption entitled "income (loss) from
discontinued sulphur operations".  All major classes of assets
and liabilities related to the sulphur business held for sale
have also been separately shown for all periods presented. See
Exhibit 99.2 for our restated year-end 2001 Consolidated
Financial Statements together with the related Notes to the
Consolidated Financial Statements and Management's Discussion and
Analysis of Financial Condition and Results of Operations and
Disclosures About Market Risks.

Item 7.  Financial Statements and Exhibits

     This report contains the following exhibits:

     *  McMoRan Exploration Co.'s Item 6. Selected Financial Data,
        Items 7. and 7A. Management's Discussion and Analysis of
        Financial Condition and Results of Operations and Disclosure
        About Market Risks and Item 8. Financial Statements and
        Supplementary Data including the audited consolidated balance
        sheets as of December 31, 2001 and 2000 and related audited
        consolidated statements of operations, cash flows and changes in
        stockholders' equity for each of the three years in the period
        ended December 31, 2001, together with accompanying notes and the
        report thereon of McMoRan's independent public accountants
        (Exhibit 99.2).

     *  Computation of Ratio of Earnings to Fixed Charges (Exhibit
        12.1).

     *  Consents of Arthur Andersen LLP (Exhibit 23.1) and Ryder
        Scott LP (Exhibit 23.2).

     *  Press release dated May 31, 2002 entitled "McMoRan
        Exploration Announces Anticipated June 2002 Closing of Sulphur
        Transportation and Terminaling Asset Sale and Extension of Bank
        Credit Facility Maturity."

                            SIGNATURE
                       ------------------

     Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.

                              McMoRan Exploration Co.

                              By:  /s/ C. Donald Whitmire Jr.
                                   ------------------------------
                                       C. Donald Whitmire, Jr.
                                  Vice President & Controller -
                                        Financial Reporting
                                     (authorized signatory and
                                    Principal Accounting Officer)

Date:  June 10, 2002

                     McMoRan Exploration Co.
                          Exhibit Index

Exhibit
Number

12.1   Computation of Ratio of Earnings to Fixed Charges

23.1   Consent of Arthur Andersen LLP

23.2   Consent of Ryder Scott, L.P.

99.1   Press release dated May 31, 2002.

99.2   Item 6. Selected Financial Data.
       Items 7. and 7A.   Management's Discussion and Analysis of
       Financial Condition and Results of Operations and
       Disclosures About Market Risks.
       Item 8. Financial Statements and Supplementary Data
          Balance Sheets as of December 31, 2001 and 2000
          Statements of Operations for each of the three years in the
           period ended December 31, 2001
          Statements of Cash Flow for each of the three years in the
           period ended December 31, 2001
          Statements of Changes in Stockholders' Equity for each of
           the three years in the period ended December 31, 2001
          Notes to Financial Statements
          Report of Independent Public Accountants

99.3   Letter regarding receipt of certain representations from
       Arthur Andersen LLP concerning that firm's compliance
       with professional auditing standards.