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Murphy oil and gas exploration summary

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Report summary

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. Unconventional exploration will be centred on the Eagle Ford with the Canadian assets on pause. Here we analyse Murphy s conventional and unconventional exploration strategy and its exploration performance over the period 2006 2015 including investment well activity volume discovered discovery cost reserve replacement ratio value creation and rates of return. The report includes a detailed data download.

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Table of contents

  • Executive summary
  • Strategy
  • Investment and costs
  • Exploration
  • Reserves and resources
  • Production
  • Valuation

Tables and charts

This report includes 24 images and tables including:

Images

  • Basins drilled and all conventional & organic unconventional discoveries 2006-2015
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Net active exploration acreage by water depth
  • Net active conventional acreage by country
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Full cycle value creation by year, incl. uncons
  • Exploration returns by year, with uncons
  • Costs and development value by reserve category
  • Exploration returns by water depth

Tables

  • Ten year performance summary
  • Top 40 discoveries (2006 to 2015)
  • Reserves and resources: Table 2
  • Full-cycle economics
  • SWOT grid
  • Gross conventional exploration & appraisal wells by basin and sector

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