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Murphy IDs 2017 Capex of $890MM; Majority to Fund Eagle Ford, Duvernay
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Murphy Oil reported its 2017 guidance as well as preliminary results for Q4 / full year 2016.
Key Points: 2017 capex of $890 million (up +44% from $620 million in 2016) 65% ($579 million) for the onshore unconventional businesses with a majority in the Eagle Ford Shale and Kaybob Duvernay. Production for the first quarter 2017 is estimated in the range of 166 to 170 Mboepd with full year 2017 production to be in the range of 162 to 168 Mboepd. 2017 Capex & GuidanceMurphy is planning 2017 capital expenditures to be $890 million which assumes a West Texas Intermediate oil price of $52 per barrel and Henry Hub natural gas price of $3.10 per thousand cubic feet.
Approximately 65 percent of the total capital is being allocated towards the onshore unconventional businesses with a…
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