Murphy Oil Plunging (MUR)

Shares of Murphy Oil

are dropping sharply on the news that the company had to take a $36 million charge related to drilling operations in the Republic of the Congo under its Mer Profonde Sud permit. At last check, shares of MUR were off $3.72 to $70.31, a loss of 5%. Murphy Oil Corporation engages in the exploration and production of oil and gas properties worldwide. It explores for and produces crude oil, natural gas, natural gas liquids, condensate, and synthetic oil.