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McMoRan Exploration Posts 1Q Loss

Stock quotes in this article: EXXI , MMR  

NEW ORLEANS (AP) — McMoRan Exploration Co., an independent petroleum producer, on Monday posted a first-quarter loss, citing falling sales volumes and prices along with a net charge of $18 million related to nonrecurring items.

Its shares declined $1.40, or 24 percent, to $4.50 in morning trading, amid a drop in the broader market.

The New Orleans-based company reported a loss of $63.2 million, or 90 cents per share, compared with earnings of $32 million, or 46 cents per share, a year earlier. ...

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