Murphy details 2024 priorities for GoM exploration, development
Jan. 25, 2024
Murphy Oil’s offshore production from the US Gulf of Mexico (GoM) averaged 81,000 boe/d during fourth-quarter 2023, according to the company’s latest results statement.
EL DORADO, ARK — Murphy Oil’s offshore production from the US Gulf of Mexico (GoM) averaged 81,000 boe/d during fourth-quarter 2023, according to the company’s latest results statement.
The company brought online the Dalmatian #1 (Desoto Canyon 90) well and drilled and completed the Marmalard #3 (Mississippi Canyon 255) well. It also plugged and abandoned the Oso #1 (Atwater Valley 138) exploration well, which encountered non-commercial hydrocarbons.
This year Murphy has budgeted capex for its global activities in the range $920 million to $1.02 billion. It plans to allocate about $300 million to GoM development drilling and field development projects, including operated and non-operated subsea tiebacks and advancing the non-operated St. Malo waterflood project toward startup later in the year.
Anticipated first-quarter GoM downtime includes 6 MMboe/d associated with wells currently offline and scheduled for workovers, with production likely to resume by mid-year.
A further 5 MMboe/d relates to planned facility and downstream maintenance, and 2 MMboe/d caused by downtime to repair damaged subsea equipment serving the Mormont Field.
Elsewhere, Murphy has allocated $25 million of capex to activities offshore eastern Canada, mainly its share of development drilling at the Hibernia Field.
A further $45 million will go toward offshore development, mainly initial activities for the company’s Lac Da Vang Field development offshore Vietnam.
It has budget $120 million for exploration in 2024, including two exploration wells in Vietnam and two more in the GoM.
