Murphy Oil


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.