MCMORAN EXPLORATION CO /DE/
SC 13G, 1999-02-16
CRUDE PETROLEUM & NATURAL GAS
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<PAGE>   1
================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                            -----------------------

                                  SCHEDULE 13G



                    Under the Securities Exchange Act of 1934




                             MCMORAN EXPLORATION CO.

                                (Name of Issuer)




                          COMMON STOCK, $0.01 PAR VALUE

                         (Title of Class of Securities)




                                   582411104

                                 (CUSIP Number)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

   [ ]      Rule 13d-1(b)

   [X]      Rule 13d-1(c)

   [ ]      Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


================================================================================

<PAGE>   2


CUSIP NO.                                                              582411104

<TABLE>
<S>     <C>                                                                                                    <C>
- --------------------------------------------------------------------------------------------------------------------
   1     Name of Reporting Person                                                                     HM 4 FSC, L.P.
         I.R.S. Identification No. of above person (entities only)
- --------------------------------------------------------------------------------------------------------------------
   2     Check the appropriate box if a member of a group (See Instructions)                                 (a) [ ]
                                                                                                             (b) [ ]
- --------------------------------------------------------------------------------------------------------------------
   3     SEC use only
- --------------------------------------------------------------------------------------------------------------------
   4     Citizenship or Place of Organization                                                                  Texas
- --------------------------------------------------------------------------------------------------------------------
                                    5     Sole Voting Power                                                        0
  Number of Shares Beneficially     --------------------------------------------------------------------------------
                                    6     Shared Voting Power                                                732,437
     Owned by Each Reporting        --------------------------------------------------------------------------------
                                    7     Sole Dispositive Power                                                   0
           Person With              --------------------------------------------------------------------------------
                                    8     Shared Dispositive Power                                           732,437
- --------------------------------------------------------------------------------------------------------------------
   9     Aggregate Amount Beneficially Owned by each Reporting Person (1)                                    732,437
- --------------------------------------------------------------------------------------------------------------------
  10     Check if the Aggregate Amount in Row (9) Excludes Certain Shares                                        [ ]
- --------------------------------------------------------------------------------------------------------------------
  11     Percent of Class Represented by Amount in Row (9)                                                      5.0%
- --------------------------------------------------------------------------------------------------------------------
  12     Type of Reporting Person (See Instructions)                                                              PN
- --------------------------------------------------------------------------------------------------------------------
</TABLE>




                                  Page 2 of 10
<PAGE>   3

CUSIP NO.                                                              582411104

<TABLE>
<S>     <C>                                                                                                    <C>
- --------------------------------------------------------------------------------------------------------------------
   1     Name of Reporting Person                                                   Hicks, Muse GP Partners IV, L.P.
         I.R.S. Identification No. of above person (entities only)
- --------------------------------------------------------------------------------------------------------------------
   2     Check the appropriate box if a member of a group (See Instructions)                                 (a) [ ]
                                                                                                             (b) [ ]
- --------------------------------------------------------------------------------------------------------------------
   3     SEC use only
- --------------------------------------------------------------------------------------------------------------------
   4     Citizenship or Place of Organization                                                                  Texas
- --------------------------------------------------------------------------------------------------------------------
                                    5     Sole Voting Power                                                        0
  Number of Shares Beneficially     --------------------------------------------------------------------------------
                                    6     Shared Voting Power                                                732,437
     Owned by Each Reporting        --------------------------------------------------------------------------------
                                    7     Sole Dispositive Power                                                   0
           Person With              --------------------------------------------------------------------------------
                                    8     Shared Dispositive Power                                           732,437
- --------------------------------------------------------------------------------------------------------------------
   9     Aggregate Amount Beneficially Owned by each Reporting Person (1)                                    732,437
- --------------------------------------------------------------------------------------------------------------------
  10     Check if the Aggregate Amount in Row (9) Excludes Certain Shares                                        [ ]
- --------------------------------------------------------------------------------------------------------------------
  11     Percent of Class Represented by Amount in Row (9)                                                      5.0%
- --------------------------------------------------------------------------------------------------------------------
  12     Type of Reporting Person (See Instructions)                                                              PN
- --------------------------------------------------------------------------------------------------------------------
</TABLE>



                                  Page 3 of 10
<PAGE>   4

CUSIP NO.                                                              582411104

<TABLE>
<S>     <C>                                                                                                    <C>
- --------------------------------------------------------------------------------------------------------------------
   1     Name of Reporting Person                                                              HM4/GP Partners, L.P.
         I.R.S. Identification No. of above person (entities only)
- --------------------------------------------------------------------------------------------------------------------
   2     Check the appropriate box if a member of a group (See Instructions)                                 (a) [ ]
                                                                                                             (b) [ ]
- --------------------------------------------------------------------------------------------------------------------
   3     SEC use only
- --------------------------------------------------------------------------------------------------------------------
   4     Citizenship or Place of Organization                                                                  Texas
- --------------------------------------------------------------------------------------------------------------------
                                    5     Sole Voting Power                                                        0
  Number of Shares Beneficially     --------------------------------------------------------------------------------
                                    6     Shared Voting Power                                                732,437
     Owned by Each Reporting        -------------------------------------------------------------------------------- 
                                    7     Sole Dispositive Power                                                   0
           Person With              -------------------------------------------------------------------------------- 
                                    8     Shared Dispositive Power                                           732,437
- --------------------------------------------------------------------------------------------------------------------
   9     Aggregate Amount Beneficially Owned by each Reporting Person (1)                                    732,437
- --------------------------------------------------------------------------------------------------------------------
  10     Check if the Aggregate Amount in Row (9) Excludes Certain Shares                                        [ ]
- --------------------------------------------------------------------------------------------------------------------
  11     Percent of Class Represented by Amount in Row (9)                                                      5.0%
- --------------------------------------------------------------------------------------------------------------------
  12     Type of Reporting Person (See Instructions)                                                              PN
- --------------------------------------------------------------------------------------------------------------------
</TABLE>



                                  Page 4 of 10
<PAGE>   5


CUSIP NO.                                                              582411104

<TABLE>
<S>     <C>                                                                                                    <C>
- --------------------------------------------------------------------------------------------------------------------
   1     Name of Reporting Person                                                            Hicks, Muse Fund IV LLC
         I.R.S. Identification No. of above person (entities only)
- --------------------------------------------------------------------------------------------------------------------
   2     Check the appropriate box if a member of a group (See Instructions)                                 (a) [ ]
                                                                                                             (b) [ ]
- --------------------------------------------------------------------------------------------------------------------
   3     SEC use only
- --------------------------------------------------------------------------------------------------------------------
   4     Citizenship or Place of Organization                                                                  Texas
- --------------------------------------------------------------------------------------------------------------------
                                    5     Sole Voting Power                                                        0
  Number of Shares Beneficially     -------------------------------------------------------------------------------- 
                                    6     Shared Voting Power                                                732,437
     Owned by Each Reporting        -------------------------------------------------------------------------------- 
                                    7     Sole Dispositive Power                                                   0
           Person With              -------------------------------------------------------------------------------- 
                                    8     Shared Dispositive Power                                           732,437
- --------------------------------------------------------------------------------------------------------------------
   9     Aggregate Amount Beneficially Owned by each Reporting Person (1)                                    732,437
- --------------------------------------------------------------------------------------------------------------------
  10     Check if the Aggregate Amount in Row (9) Excludes Certain Shares                                        [ ]
- --------------------------------------------------------------------------------------------------------------------
  11     Percent of Class Represented by Amount in Row (9)                                                      5.0%
- --------------------------------------------------------------------------------------------------------------------
  12     Type of Reporting Person (See Instructions)                                                              PN
- --------------------------------------------------------------------------------------------------------------------
</TABLE>



                                  Page 5 of 10
<PAGE>   6
 
CUSIP NO.                                                              582411104

<TABLE>
<S>     <C>                                                                                                    <C>
- --------------------------------------------------------------------------------------------------------------------
   1     Name of Reporting Person                                                                    Thomas O. Hicks
         I.R.S. Identification No. of above person (entities only)
- --------------------------------------------------------------------------------------------------------------------
   2     Check the appropriate box if a member of a group (See Instructions)                                 (a) [ ]
                                                                                                             (b) [ ]
- --------------------------------------------------------------------------------------------------------------------
   3     SEC use only
- --------------------------------------------------------------------------------------------------------------------
   4     Citizenship or Place of Organization                                                          United States
- --------------------------------------------------------------------------------------------------------------------
                                    5     Sole Voting Power                                                        0
  Number of Shares Beneficially     --------------------------------------------------------------------------------
                                    6     Shared Voting Power                                                732,437
     Owned by Each Reporting        --------------------------------------------------------------------------------
                                    7     Sole Dispositive Power                                                   0
           Person With              --------------------------------------------------------------------------------
                                    8     Shared Dispositive Power                                           732,437
- --------------------------------------------------------------------------------------------------------------------
   9     Aggregate Amount Beneficially Owned by each Reporting Person (1)                                    732,437
- --------------------------------------------------------------------------------------------------------------------
  10     Check if the Aggregate Amount in Row (9) Excludes Certain Shares                                        [ ]
- --------------------------------------------------------------------------------------------------------------------
  11     Percent of Class Represented by Amount in Row (9)                                                      5.0%
- --------------------------------------------------------------------------------------------------------------------
  12     Type of Reporting Person (See Instructions)                                                              IN
- --------------------------------------------------------------------------------------------------------------------
</TABLE>



                                  Page 6 of 10
<PAGE>   7

ITEM 1.  SECURITY AND ISSUER.

         (a)      Name of Issuer:  McMoRan Exploration Co.

         (b)      Address of the Issuer's principal executive offices

                  1615 Poydras Street
                  New Orleans, Louisiana 70112

ITEM 2.  IDENTITY AND BACKGROUND.

         (a)      Name of persons filing:   HM 4 FSC, L.P.
                                            HM4/GP Partners, L.P.
                                            Hicks, Muse GP Partners IV, L.P.
                                            Hicks, Muse Fund IV LLC
                                            Thomas O. Hicks

         (b)      Address of Principal Business Office of each Reporting Person:

                  200 Crescent Court
                  Suite 1600
                  Dallas, Texas 75201

         (c)      Citizenship of each Reporting Person:

                  HM 4 FSC, L.P.                              Texas
                  HM4/GP Partners, L.P.                       Texas
                  Hicks, Muse GP Partners IV, L.P.            Texas
                  Hicks, Muse Fund IV LLC                     Texas
                  Thomas O. Hicks                             United States

         (d)      Title of Class of Securities:  Common Stock, $0.01 par value

         (e)      CUSIP Number:  58211104

ITEM 3.  Not Applicable

ITEM 4.  OWNERSHIP

         (a)      Amount beneficially owned by each Reporting Person:  
                  732,437 shares

         (b)      Percent of Class: 5.02%

         (c)      Number of shares as to which each Reporting Person has:

                  (i)      Sole power to vote or to direct the vote:  0

                  (ii)     Shared power to vote or to direct the vote:  
                           732,437 shares

                  (iii)    Sole power to dispose or to direct the disposition 
                           of:  0

                  (iv)     Shared power to vote or to direct the disposition of:
                           732,437 shares




                                  Page 7 of 10
<PAGE>   8

ITEM 5.  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

         Not Applicable

ITEM 6.  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

         Not Applicable

ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE 
         SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

         Not Applicable

ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

         Not Applicable

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

         Not Applicable

ITEM 10.  CERTIFICATION

         By signing below I certify that, to the best of my knowledge and
         belief, the securities referred to above were not acquired and are not
         held for the purpose of or with the effect of changing or influencing
         the control of the issuer of the securities and were not acquired and
         are not held in connection with or as a participant in any transaction
         having that purpose or effect.



                                  Page 8 of 10
<PAGE>   9

                                    SIGNATURE

         After reasonable inquiry and to the best of my knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.


Dated: February 11, 1999       HM4 FSC, L.P., a Texas limited partnership

                                  By: HM4/GP Partners, L.P.,
                                      its general partner

                                      By: Hicks, Muse GP Partners IV, L.P.,
                                          its general partner

                                          By: Hicks, Muse Fund IV LLC,
                                              its general partner

                                              By:  /s/ MICHAEL D. SALIM
                                                  -----------------------------
                                                      Michael D. Salim
                                                      Chief Financial Officer
                                                      and Senior Vice President


Dated:  February 11, 1999      HM4/GP PARTNERS, L.P., a Texas limited 
                               partnership

                                  By: Hicks, Muse GP Partners IV, L.P.,
                                               its general partner

                                      By:  Hicks, Muse Fund IV LLC,
                                           its general partner

                                           By:  /s/ MICHAEL D. SALIM
                                               ---------------------------------
                                                    Michael D. Salim
                                                    Chief Financial Officer and
                                                    Senior Vice President


Dated:  February 11, 1999      HICKS, MUSE GP PARTNERS IV, L.P., a Texas limited
                               partnership

                                  By:  Hicks, Muse Fund IV LLC,
                                       its general partner


                                       By:  /s/ MICHAEL D. SALIM
                                           -------------------------------------
                                            Michael D. Salim
                                            Chief Financial Officer and
                                            Senior Vice President



                                  Page 9 of 10
<PAGE>   10

Dated:  February 11, 1999      HICKS, MUSE FUND IV, LLC, a Texas limited 
                               liability company


                               By:   /s/ MICHAEL D. SALIM
                                   ---------------------------------------------
                                     Michael D. Salim
                                     Chief Financial Officer and
                                     Senior Vice President




Dated:  February 11, 1999        /s/ DAVID W. KNICKEL
                               -------------------------------------------------
                               Thomas O. Hicks
                               By:  David W. Knickel, Attorney-in-Fact




                                 Page 10 of 10

<PAGE>   11

                                EXHIBIT INDEX

<TABLE>
<CAPTION>
EXHIBIT
NUMBER                           DESCRIPTION
- --------                         -----------
<S>                       <C>

  99.1                    Power of Attorney for Thomas O. Hicks. (Filed as
                          Exhibit 99.5 to Schedule 13D regarding Coho Energy,
                          Inc. filed with the Securities and Exchange Commission
                          on May 20, 1998 and incorporated herein by reference.)

  99.2                    Joint Filing Agreement, dated February 11, 1999, among
                          HM 4 FSC, L.P., HM4/GP Partners, L.P., Hicks, Muse GP
                          Partners IV, L.P. Hicks, Muse Fund IV LLC, and Thomas
                          O. Hicks.
</TABLE>

<PAGE>   1
                         AGREEMENT AMONG FILING PARTIES


         THIS AGREEMENT is made and entered into on February 10, 1999, by and
among HM 4 FSC, L.P., a Texas limited partnership, HM4/GP Partners, L.P., a
Texas limited partnership, Hicks, Muse GP Partners IV, L.P., a Texas limited
partnership, Hicks, Muse Fund IV LLC, a Texas limited liability company, and
Thomas O. Hicks, an individual (collectively referred to herein as the "Filing
Parties").

         WHEREAS, Rule 13d-1(f)(1)(iii) under the Securities Exchange Act of
1934, as amended (the "Act"), requires that, when a Schedule 13G is filed on
behalf of more than one person, an agreement be executed and filed as an exhibit
to the Schedule 13G reflecting that the Schedule 13G is being filed on behalf of
all such persons:

         NOW, THEREFORE, in consideration of the premises and the mutual
promises stated herein, the Filing Parties hereby agree as follows:

         1. Each Filing Party agrees that a single Schedule 13G (and any
amendments thereto) shall be filed jointly on behalf of all the Filing Parties
with respect to the shares of common stock, $.01 par value per share, of McMoRan
Exploration Co., a Delaware corporation.

         2. Each Filing Party acknowledges and agrees that, pursuant to Rule
13d-1(f)(1) under the Act, each Filing Party individually is (i) eligible to use
the Schedule 13G and (ii) responsible for the timely filing of such Schedule 13G
and any amendments thereto and for the completeness and accuracy of the
information concerning such Filing Party contained in such Schedule 13G. None of
the Filing Parties, however, shall be responsible for the completeness or
accuracy of information concerning any other Filing Party contained in such
Schedule 13G, or any amendments thereto, unless such Filing Party knows or has
reason to believe that such information is incomplete or inaccurate.

         3. This agreement shall not be assignable by any Filing Party. Any
assignment in violation of the foregoing shall be null and void.

         4. This agreement shall terminate upon the written notice of
termination given by any Filing Party to the other Filing Parties.

         5. This agreement may be executed in several counterparts, each of
which shall be deemed to be an original copy hereof.

<PAGE>   2


         IN WITNESS WHEREOF, each of the undersigned hereby executed this
Agreement Among Filing Parties as of the date or dates indicated below.

                               THOMAS O. HICKS


Dated:  February 11, 1999           /s/ DAVID W. KNICKEL
                               -------------------------------------------------
                               By: David W. Knickel, Attorney-in-Fact


                               HM4 FSC, L.P., a Texas limited partnership

                                   By:  HM4/GP Partners, L.P.,
                                        its general partner

                                        By:  Hicks, Muse GP Partners IV, L.P.,
                                             its general partner

                                             By:  Hicks, Muse Fund IV LLC,
                                                  its general partner


Dated:  February 11, 1999                         By:   /s/ MICHAEL D. SALIM
                                                      --------------------------
                                                        Michael D. Salim
                                                        Chief Financial
                                                        Officer and Senior
                                                        Vice President


                               HM4/GP PARTNERS, L.P., a Texas limited 
                               partnership

                                  By:  Hicks, Muse GP Partners IV, L.P.,
                                       its general partner

                                       By:  Hicks, Muse Fund IV LLC,
                                            its general partner


Dated: February 11, 1999                    By:  /s/ MICHAEL D. SALIM
                                                --------------------------------
                                                 Michael D. Salim
                                                 Chief Financial Officer and 
                                                 Senior Vice President



                                       2
<PAGE>   3


                               HICKS, MUSE GP PARTNERS IV, L.P.,
                               a Texas limited partnership

                                  By:   Hicks, Muse Fund IV, LLC,
                                        its general partner



Dated:  February 11, 1999               By:  /s/ MICHAEL D. SALIM
                                             -----------------------------------
                                             Michael D. Salim
                                             Chief Financial Officer and
                                             Senior Vice President

                               HICKS, MUSE FUND IV LLC



Dated:  February 11, 1999      By:   /s/ MICHAEL D. SALIM
                                   ---------------------------------------------
                               Name:     Michael D. Salim
                               Title:    Chief Financial Officer and
                                         Senior Vice President



                                       3


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