Freeport-McMoRan Inc. Dry Hole Expense decreased by 5.5% to $52.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 26.8%, from $41.00M to $52.00M. Over 4 years (FY 2021 to FY 2025), Dry Hole Expense shows an upward trend with a 36.7% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Frequent or high expenses suggest high exploration risk, while low expenses may indicate conservative exploration or high success rates.
Dry hole expense represents the costs associated with exploratory drilling activities that fail to identify commercially...
Common in oil, gas, and mining; peers with high exploration success rates typically report lower dry hole expenses.
is_cop_dry_hole_expense| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $14.00M | $15.00M | $19.00M | $24.00M | $25.00M | $38.00M | $28.00M | $31.00M | $42.00M | $30.00M | $34.00M | $37.00M | $40.00M | $38.00M | $41.00M | $39.00M | $46.00M | $55.00M | $52.00M |
| QoQ Change | — | +7.1% | +26.7% | +26.3% | +4.2% | +52.0% | -26.3% | +10.7% | +35.5% | -28.6% | +13.3% | +8.8% | +8.1% | -5.0% | +7.9% | -4.9% | +17.9% | +19.6% | -5.5% |
| YoY Change | — | — | — | — | +78.6% | +153.3% | +47.4% | +29.2% | +68.0% | -21.1% | +21.4% | +19.4% | -4.8% | +26.7% | +20.6% | +5.4% | +15.0% | +44.7% | +26.8% |
| Segment | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 |
|---|---|---|---|---|---|---|---|---|
| Atlantic Copper Smelting And Refining | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Molybdenum | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.00M | $0.00 |
| Rod And Refining | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total | $34.00M | $37.00M | $40.00M | $38.00M | $41.00M | $39.00M | $46.00M | $55.00M |
Cerro Verde, Grasberg Segment, Morenci are derived from annual filings.