<SEC-DOCUMENT>0001193125-13-186727.txt : 20130822
<SEC-HEADER>0001193125-13-186727.hdr.sgml : 20130822
<ACCEPTANCE-DATETIME>20130430150240
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-13-186727
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20130430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FREEPORT MCMORAN COPPER & GOLD INC
		CENTRAL INDEX KEY:			0000831259
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				742480931
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		333 NORTH CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
		BUSINESS PHONE:		6023668100

	MAIL ADDRESS:	
		STREET 1:		333 NORTH CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FREEPORT MCMORAN COPPER COMPANY INC
		DATE OF NAME CHANGE:	19910114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Gulf Coast Ultra Deep Royalty Trust
		CENTRAL INDEX KEY:			0001565146
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				466448579

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		333 N. CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
		BUSINESS PHONE:		504.582.8326

	MAIL ADDRESS:	
		STREET 1:		333 N. CENTRAL AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<TITLE>Response Letter</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">[LETTERHEAD OF WACHTELL, LIPTON, ROSEN&nbsp;&amp; KATZ] </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>VIA EDGAR AND FEDEX</U></B> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Mr.&nbsp;H.
Roger Schwall </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Assistant Director </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Division of Corporation Finance </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">United States
Securities and Exchange Commission </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">100 F Street, N.E. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Washington, D.C. 20549 </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="13%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Re:</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Gulf Coast Ultra Deep Royalty Trust <BR>Amendment No.&nbsp;4 to Registration Statement on Form S-4<BR> Filed April&nbsp;18, 2013 <BR>Amendment No.&nbsp;5 to
Registration Statement on Form S-4 <BR>Filed April&nbsp;19, 2013 <BR>Amendment No.&nbsp;6 to Registration Statement on Form S-4 <BR>Filed April 19, 2013 <BR>File No.&nbsp;333-185742 </B></FONT></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dear Mr.&nbsp;Schwall: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On
behalf of Gulf Coast Ultra Deep Royalty Trust (the &#147;<U>Royalty Trust</U>&#148;) and Freeport-McMoRan Copper&nbsp;&amp; Gold Inc. (&#147;<U>FCX</U>&#148;), set forth below is the response to the comment of the Staff of the Division of
Corporation Finance (the &#147;<U>Staff</U>&#148;) that appeared in the Staff&#146;s letter dated April&nbsp;26, 2013, with respect to the above-referenced filing. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">This letter and Amendment No.&nbsp;7 (&#147;<U>Amendment No.&nbsp;7</U>&#148;) to the Registration Statement on Form S-4 (File No.&nbsp;333-185742) are being filed electronically via the EDGAR system
today. In addition to the EDGAR filing, we are delivering a hard copy of this letter, along with five copies of Amendment No.&nbsp;7 marked to indicate changes from Amendment No.&nbsp;4 to the Form S-4 filed on April&nbsp;18, 2013. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">H. Roger Schwall </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">United States Securities and Exchange Commission </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;30, 2013 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"> Page
 2
 </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">For the Staff&#146;s convenience, the text of the Staff&#146;s comment is set forth
below in bold followed by the response. Terms not otherwise defined in this letter shall have the meanings set forth in Amendment No.&nbsp;7. All references to page numbers in the response are to the pages in the marked version of Amendment
No.&nbsp;7. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Staff is further advised that, in addition to addressing the comment raised by the Staff in its letter,
Amendment No.&nbsp;7 has been revised throughout to reflect a modification to Proposal No.&nbsp;1 to provide that FCX will only be excluded from the definition of &#147;interested stockholder&#148; in the certificate of incorporation of McMoRan
Exploration Co. (&#147;MMR&#148;) for purposes of the transactions contemplated by the merger agreement (as opposed to for all purposes). The parties to the merger agreement have agreed to modify the condition to closing set forth in the merger
agreement related to this proposal to provide for this modification. As a result of this change, if the transactions contemplated by the merger agreement are not consummated but the change to the charter amendment is approved and adopted by MMR, FCX
would continue to be subject to the definition of &#147;interested stockholder&#148; in MMR&#146;s certificate of incorporation with respect to any potential future transactions. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><U>Exhibit 5.1 </U></B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>We note the following assumption added to the form of legal opinion: &#147;(viii) that no individual, corporation, partnership, trust or other person or entity,
together with its &#145;affiliates&#146; and &#145;associates&#146;, is a &#145;beneficial owner&#146; of shares aggregating 20% or more of the outstanding common stock, par value $0.10 per share, of the Depositor (the &#145;Common Stock&#146;) or
was or will be such an owner from December&nbsp;5, 2010 through the date of the issuance of the Units (with the terms in quotation marks having the meanings set forth in the Depositor Certificate of Incorporation)&#133;.&#148; Please explain to us
why such assumption is both necessary and appropriate. In that regard, it appears that such assumption could relate to the question of whether the registrants have taken all corporate actions necessary to authorize the issuance of the securities,
and therefore &#147;assumes away&#148; the relevant issue of whether the securities will be legally issued. Please refer to Staff Legal Bulletin No.&nbsp;19 at Section II.B.3(a). In the alternative, please obtain and file a revised opinion that does
not include such assumption. </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:6%"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Response</U>:<B> </B>In response to the Staff&#146;s comment, the filing
parties have obtained and filed an amended opinion of counsel as Exhibit 5.1. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;* </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">H. Roger Schwall </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">United States Securities and Exchange Commission </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">April&nbsp;30, 2013 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"> Page
 3
 </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We hope the foregoing has been responsive to the Staff&#146;s comments. If you have any
questions, please do not hesitate to contact the undersigned at (212)&nbsp;403-1314 (telephone) or deshapiro@wlrk.com (e-mail). </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We thank the Staff in advance for its assistance. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sincerely, </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">/s/ David E. Shapiro </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">David E. Shapiro </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Wachtell, Lipton, Rosen&nbsp;&amp; Katz </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">cc:</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Douglas N. Currault II, Freeport-McMoRan Copper&nbsp;&amp; Gold Inc. <BR>John Amato, McMoRan Exploration Co. <BR>Michael Aiello, Weil, Gotshal&nbsp;&amp; Manges LLP
</FONT></TD></TR></TABLE>
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