Murphy Oil

Asia

Mubadala Petroleum eyes $2bn Southeast Asia sale

Mubadala Petroleum has put its Southeast Asia portfolio up for sale for $2 billion. The Abu Dhabi-based company will be following in the footsteps of ExxonMobil, Chevron, Shell, Murphy Oil, Hess, Repsol and Eni, all of which are looking to sell assets in the Asia region.

Coronavirus

Asia Pacific M&A shake-up on the horizon

More assets are expected to hit the market across Asia Pacific this year following the sustained drop in global oil prices and the COVID-19 pandemic, which has destroyed energy demand growth as economic activity contracts.

Market info

Murphy Oil hit with dry hole expense charges of $70million

Murphy Oil has been hit with dry hole expense charges after being forced to plug and abandon a number of wells. The company said it would pay a $47million charge on the Urca well in Mississippi Canyon Block 697 and $23million for two wells in its Perth Basin drilling programme offshore Western Australia. Murphy Oil is continuing with the drilling of a third well at the Munia prospect in the Perth Basin which is expected to be finished in April.