Volume Spike Investor

Mcmoran Exploration Co. (NYSE: MMR) shares are up 5 percent to $5.30 with more than 21,000 shares traded as of 9 a.m. Eastern after the company announced positive drilling results at its Blueberry Hill deep gas exploratory sidetrack well in Louisiana. The company said the well has been drilled to a vertical depth of 21,900 feet, and that the well is located in about 10 feet of water, near existing infrastructure. — Mike Tarsala