EL DORADO, Ark.--(BUSINESS WIRE)--Jul. 17, 2009--
Murphy Oil Corporation (NYSE:MUR) announced an oil discovery at the
Turquoise Marine-1 prospect located in the Mer Profonde Sud (MPS) block,
offshore Republic of Congo (Brazzaville). The well was drilled in 5,285
feet of water to a total measured depth of 12,060 feet and encountered
in excess of 136 feet of net oil pay. The Turquoise Marine-1 discovery
is approximately 17 miles from the Murphy operated Azurite Field.
David M. Wood, President and Chief Executive Officer, commented,
“Turquoise Marine-1 was an important well for our Company and we are
very pleased with the results. This marks our second discovery in the
MPS Block; the rig now moves to the Diamant Marine-1 prospect which lies
even closer to the Azurite field.” He also added, “We will be looking at
appraisal and development options for Turquoise Marine-1 in the coming
months and seeking to optimize the existing Azurite field
infrastructure.”
Murphy serves as operator and has a 50% working interest in Turquoise
Marine-1 and the MPS block. Partners are PA Resources (35%) and Société
Nationale des Pétroles du Congo (15%).
This press release contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995. These
statements, which express management’s current views concerning future
events or results, are subject to inherent risks and uncertainties. Factors
that could cause actual results to differ materially from those
expressed or implied in our forward-looking statements include, but are
not limited to, the volatility and level of crude oil and natural gas
prices, the level and success rate of our exploration programs, our
ability to maintain production rates and replace reserves, political and
regulatory instability, and uncontrollable natural hazards. For
further discussion of risk factors, see Murphy’s 2008 Annual Report on
Form 10-K on file with the U.S. Securities and Exchange Commission. Murphy
undertakes no duty to publicly update or revise any forward-looking
statements.
Source: Murphy Oil Corporation
Murphy Oil Corporation
Dory Stiles, 870-864-6496