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):  December 30, 1998



                          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.
               ------------------
          The following news release was made by McMoRan Exploration Co. on
          December 30, 1998:


          NEW ORLEANS,  LA, December  30, 1998 -  McMoRan  Exploration  Co.
          (NYSE: MMR)  today  announced that  its  Board of  Directors  has
          amended its stockholder  rights plan to  increase the  percentage
          ownership threshold at which the plan is activated.   Previously,
          the rights issued  under the plan  would have become  exercisable
          whenever an individual or group  beneficially owns 15 percent  or
          more of MMR's  common stock without  approval by  MMR's Board  of
          Directors.    After  the   amendment,  the  rights  will   become
          exercisable whenever an individual or group beneficially owns  25
          percent or more of MMR's common stock, except when an  individual
          or  group   has   agreed   to   certain   approved   "standstill"
          arrangements, in which  case the rights  will become  exercisable
          whenever the individual or group beneficially owns 35 percent  or
          more of MMR's common stock.   If a stockholder exceeds the 25  or
          35 percent thresholds, as described above, all other stockholders
          will  be  able  to  exercise  their  rights  pursuant  to   MMR's
          stockholder rights  plan,  which will  entitle  them to  buy  MMR
          common stock at a discounted price.

             MMR believes that the amended plan will continue to provide
          appropriate protection for all of its stockholders.

             MMR is an independent public company engaged in the
          exploration, development and production of oil and gas offshore
          in the Gulf of Mexico and onshore in the Gulf Coast area; and the
          mining, purchasing, transporting, terminaling and marketing of
          sulphur. 




                                      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
                                             -------------------------------
                                                 C. Donald Whitmire
                                             Vice President & Controller -
                                                 Financial Reporting
                                                (authorized signatory)

          Date:  January 12, 1999
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 3686}]
{"company-data": {"conformed-name": "MCMORAN EXPLORATION CO /DE/", "cik": "0000064279", "assigned-sic": "1311", "irs-number": "721424200", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-07791", "film-number": "99505227"}, "business-address": {"street1": "1615 POYDRAS ST", "city": "NEW ORLEANS", "state": "LA", "zip": "70112", "phone": "5045824000"}, "mail-address": {"street1": "1615 POYDRAS ST", "city": "NEW ORLEANS", "state": "LA", "zip": "70112"}, "former-company": {"former-conformed-name": "MCMORAN OIL & GAS CO", "date-changed": "19970707"}}
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):  December 30, 1998

                          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.
               ------------------
          The following news release was made by McMoRan Exploration Co. on
          December 30, 1998:

          NEW ORLEANS,  LA, December  30, 1998 -  McMoRan  Exploration  Co.
          (NYSE: MMR)  today  announced that  its  Board of  Directors  has
          amended its stockholder  rights plan to  increase the  percentage
          ownership threshold at which the plan is activated.   Previously,
          the rights issued  under the plan  would have become  exercisable
          whenever an individual or group  beneficially owns 15 percent  or
          more of MMR's  common stock without  approval by  MMR's Board  of
          Directors.    After  the   amendment,  the  rights  will   become
          exercisable whenever an individual or group beneficially owns  25
          percent or more of MMR's common stock, except when an  individual
          or  group   has   agreed   to   certain   approved   "standstill"
          arrangements, in which  case the rights  will become  exercisable
          whenever the individual or group beneficially owns 35 percent  or
          more of MMR's common stock.   If a stockholder exceeds the 25  or
          35 percent thresholds, as described above, all other stockholders
          will  be  able  to  exercise  their  rights  pursuant  to   MMR's
          stockholder rights  plan,  which will  entitle  them to  buy  MMR
          common stock at a discounted price.

             MMR believes that the amended plan will continue to provide
          appropriate protection for all of its stockholders.

             MMR is an independent public company engaged in the
          exploration, development and production of oil and gas offshore
          in the Gulf of Mexico and onshore in the Gulf Coast area; and the
          mining, purchasing, transporting, terminaling and marketing of
          sulphur. 

                                      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
                                             -------------------------------
                                                 C. Donald Whitmire
                                             Vice President & Controller -
                                                 Financial Reporting
                                                (authorized signatory)

          Date:  January 12, 1999