Quarterly / Earnings Reports | Third Quarter (3Q) Update | Production Rates | Drilling Activity
Murphy Touts Entry into Midland Basin in Q3; Slightly Ups 2017 Capex to $940MM
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Murphy Oil reported its Q3 2017 results. Highlights include:
Increased 2017 capex to $940 million (up +6% from $890 million originally planned) North American onshore business produced 86 Mboepd in Q3 (51% liquids) Midland Basin EntryDisclosed low-cost onshore entry into Midland Basin, currently testing Lower Spraberry and Wolfcamp B zones.
In its call, Murphy CEO Roger Jenkins commented: "I am pleased to add another oil-weighted asset to our North American onshore unconventional portfolio. We are encouraged by the results from our preliminary core analysis, the execution of the initial wells, and the production from offset operators."
Eagle Ford - Production Increase Expected in Q4For the fourth quarter of 2017, the company expects to bring 15 wells online, of which 12 are…
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