McMoRan Exploration Co. (MMR) announced a discovery on its Davy Jones ultra-deep prospect located on South Marsh Island Block 230 in approximately 20 feet of water. The well has been drilled to a measured depth of 28,263 feet. McMoRan plans to deepen the well to 29,000 feet to test additional objectives. Other working interests owners in Davy Jones include: Plains Exploration & Production Company (PXP), Energy XXI (NASDAQ:EXXI) and others.
Shares of McMoRan Exploration are up over thirty seven and three quarters percent on the news.
AMAG Pharmaceuticals (NASDAQ:AMAG) provided an update on the commercial launch of Feraheme. AMAG expects to report fourth quarter 2009 Feraheme net product revenues of between $12 and $13 million. Analysts were expecting in the neighborhood of $9 million.
AMAG is up nearly fifteen percent on the announcement.
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