Murphy makes discoveries offshore Vietnam, Mexico

Murphy Oil Corp. has discovered oil with the LDT-1X exploration well on block 15-1/05 in the Cuu Long basin offshore Vietnam.

May 3rd, 2019

Offshore staff

EL DORADO, ArkansasMurphy Oil Corp. has discovered oil with the LDT-1X exploration well on block 15-1/05 in the Cuu Long basin offshore Vietnam.

The well, drilled to a TD of 14,090 ft (4,295 m), encountered about 320 ft (98 m) of net oil pay in the primary objective and an additional 62 ft (19 m) of net oil pay in a secondary objective.

The LDT-1X discovery will be incorporated into the development of the adjacent Murphy-operated LDV field. In early 2019, the company received the declaration of commerciality for the LDV field and expects to sanction the field development later this year. It is progressing toward first oil in 2021.

Murphy subsidiary Murphy Cuu Long Bac Oil Co. Ltd. is the operator of block 15-1/05 and holds 40% working interest. Partners in the block include PetroVietnam Exploration and Production Co. with 35% carried interest and SK Innovation with a 25% interest.

Offshore Mexico, the company drilled a discovery with its first exploration test on block 5 in the Salinas basin. The Cholula-1EXP exploration well reached TD of more than 8,800 ft (2,682 m) in about 2,300 ft (2,682 m) of water.

The exploration well discovered hydrocarbons in the upper Miocene target objectives, encountering approximately 185 ft (56 m) of net pay. The results of the well, the company said, have significantly de-risked the block, and it is evaluating future appraisal plans.

Its subsidiary Murphy Sur, S. de R.L. de C.V. is the operator of block 5 and holds 30% working interest. Partners in the block are wholly-owned subsidiaries of Petronas (23.34% working interest), Ophir Energy (23.33%), and Sierra Oil and Gas (23.33%).

In the US Gulf of Mexico, the company plans to drill a development well at the Dalmatian field in 2Q.

It plans to spud the Hoffe Park exploration well on Mississippi Canyon block 122 in 3Q. Then, the contracted rig will move onto the Cascade #5 well to repair a subsea safety valve that is expected to revive production levels, with an anticipated increase of about 7,500 boe/d gross.

In addition, a rig will be placed on the Medusa facility for a one well workover in late 2Q. A different rig will move to Front Runner to side track and complete a three-well program starting in 4Q.

05/03/2019

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