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Murphy Talks Eagle Ford, GOM 2020 Updated Program
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In its June 2020 presentation, Murphy Oil Corp. detailed recent developments aimed at financial preservation - including major G&A spending cuts.
The company also updated its 2020 operational plan in the Eagle Ford, including no completions in 2H as well as further capex cuts in the region (details further below).
G&A Savings at Over 40% YOYThe company has cut G&A expenses by over 40% since 2019, which was achieved through various moves including:
Laying off 30% of its staff, as well as through departures of key executives Closing two offices (El Dorado HQ and Calgary) Salary and board compensation reductions Eagle Ford Capex Cut Further, No Completions in 2H20In its presentation, the company also noted that it is halting completions at its Eagle Ford asset for the second half…
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