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Murphy Oil ( (MUR) ) just unveiled an update.
Murphy Oil Corporation announced an oil discovery at the Hai Su Vang-1X exploration well in the Cuu Long Basin, offshore Vietnam. This discovery by its subsidiary, Murphy Cuu Long Tay Oil Co., Ltd., which holds a 40% interest in the block, signifies potential further development and strengthening of Murphy’s position in the Vietnam market. The discovery, encountering approximately 370 feet of net oil pay from two reservoirs, represents an upside to Murphy’s current operations in Vietnam and may lead to future appraisal drilling in the Hai Su Vang field.
More about Murphy Oil
Murphy Oil Corporation is an independent oil and natural gas exploration and production company that focuses on delivering energy solutions by leveraging its strong legacy, foresight, and financial discipline. The company is dedicated to positively impacting lives and aims to be an industry leader for the next century and beyond.
YTD Price Performance: -0.65%
Average Trading Volume: 1,573,366
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $4.49B
Find detailed analytics on MUR stock on TipRanks’ Stock Analysis page.
