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Murphy Oil Details 2022 Capital Plan; Spending Up 29% vs. 2021
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Murphy Oil Corp. has reported its 2022 capital plans.
2022 Capital Guidance & Plans- Capex: $840-$890 million with full year (up 29% at the midpoint vs. 2021)
- Production: 164 to 172 MBOEPD, comprised of approximately 52% oil and 57% total liquids volumes.
Production for first quarter 2022 is estimated to be in the range of 136 to 142 MBOEPD with 53 percent oil volumes.- Well Plans: 82 gross wells online
Operated Wells: 50 Non-Op Wells: 32 D&C Plans - OnshoreCEO Roger Jenkins said: "Our 2022 budget is higher than 2021, with capital designated toward finalizing key development projects in the Gulf of Mexico while maintaining oil volumes across the portfolio. In addition, we forecast an additional $300 million in long-term debt reduction assuming a $65 oil price in 2022, which…
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