<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from McMoRan Oil
& Gas Co. financial statements at June 30, 1998 and the six months then ended,
and is qualified in its entirety by reference to such statements. The earning
per share (EPS) data shown was prepared in accordance with Statement of
Financial Acconting Standards No. 128 "Earnings Per Share," basic and diluted EP
</LEGEND>
<CIK> 0000921941
<NAME> MCMORAN OIL & GAS CO.
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                          19,355
<SECURITIES>                                         0
<RECEIVABLES>                                    2,361
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                30,843
<PP&E>                                          88,574
<DEPRECIATION>                                  21,085
<TOTAL-ASSETS>                                  98,498
<CURRENT-LIABILITIES>                           19,777
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           429
<OTHER-SE>                                      75,944
<TOTAL-LIABILITY-AND-EQUITY>                    98,498
<SALES>                                         11,778
<TOTAL-REVENUES>                                11,778
<CGS>                                           12,781
<TOTAL-COSTS>                                   12,781
<OTHER-EXPENSES>                                12,258
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                               (14,878)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (14,878)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (14,878)
<EPS-PRIMARY>                                    (.35)
<EPS-DILUTED>                                    (.35)