Murphy Oil Announces Successful Drilling in Deepwater Gulf of Mexico
EL DORADO, Ark--(BUSINESS WIRE)--Jan. 18, 2005--Murphy Oil Corporation (NYSE:MUR) announced successful drilling results at its South Dachshund/Mondo Northwest prospect in Lloyd Ridge Blocks 1 and 2.
Murphy drilled a discovery well on Lloyd Ridge Block 2 then successfully appraised the discovery with a sidetrack having a bottom-hole location on Lloyd Ridge Block 1. The wells encountered high-quality, gas-bearing reservoirs in three Miocene sands. The sidetrack well encountered over 70 feet of true vertical thickness net natural gas pay and has been cased and suspended for future completion. The discovery is expected to be tied back to the Independence Hub to be located in Mississippi Canyon Block 920.
Murphy owns a 50% interest and served as Operator for the exploratory phase. Anadarko Petroleum Corporation (NYSE:APC) owns the remaining 50% interest and will operate all future development.
The forward-looking statements reflected in this release are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. No assurance can be given that the results discussed herein will be attained, and certain important factors that may cause actual results to differ materially are contained in Murphy's January 15, 1997 Form 8-K report on file with the U.S. Securities and Exchange Commission.
CONTACT: Murphy Oil Corporation, El Dorado
Investor/Media Relations: Mindy West, 870-864-6315
www.murphyoilcorp.com
SOURCE: Murphy Oil Corporation