Murphy’s exploration strategy has traditionally focused on high-impact deepwater. Complementing this, it has built an attractive portfolio of unconventional assets in North America. Murphy’s initial success in the last decade was driven by exploration in deepwater oil plays offshore Sabah (Malaysia).
Recent under-performance with high-impact exploration and low oil prices have triggered Murphy to review its exploration strategy. Its near-term focus is now on lower cost, lower-risk, near-field opportunities. It has ruled-out drilling future high-impact wells on a sole-risk basis, preferring to access new plays through ground-floor farm-ins at moderate working interest.Here, we analyse Murphy’s conventional and unconventional exploration strategy, and its exploration performance over the period 2005-2014, including investment, well activity, volume discovered, discovery cost, reserve replacement ratio, value creation and rates of return. The report includes a detailed data download.
This report includes 2 file(s)
- Murphy oil and gas exploration summary PDF - 660.86 KB 16 Pages, 6 Tables, 20 Figures
- Murphy Oil.xls XLS - 532.50 KB