Murphy Oil abandons Oso #1 exploration well; Q4 exploration expense guidance raised to $83M

MURPHY OIL CORP

Oso #1 well in Gulf of Mexico Atwater Valley 138 found non-commercial hydrocarbons; will be plugged and abandoned.
Q4 2023 exploration expense guidance increased from $53M to $83M, including net well cost of $64M for Oso.
Management to present at Goldman Sachs Energy, CleanTech and Utilities Conference starting January 3, 2024.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MURPHY OIL CORP updated its Q4 2023 guidance (lowered).

Period: Q4 2023
Guidance: lowered
Result: guidance update

Exact text from the filing

Exploration expense guidance for the fourth quarter of 2023 has been revised accordingly from $53 million to $83 million, including a net well cost of $64 million for Oso.

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Source: SEC EDGAR

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