Murphy Limps Into 2019 With Disappointing First-Quarter Output
Murphy delivered total production of 192 mboe/d in the first quarter (including production from assets to be divested but excluding volumes attributable to a noncontrolling interest). This was well below guidance of 198-200 mboe/d, due to a variety of operational issues in the North American region. A 10-well Eagle Ford pad experienced a significant execution delay that also impacted adjacent producing wells that were shut in while the new wells were fracked. In Canada, there were weather-relate...Murphy Oil is a holding company. Through its subsidiaries, the company is an oil and natural gas exploration and production company. The company explores for and produces crude oil, natural gas and natural gas liquids worldwide. The company's principal exploration and production activities are conducted in United States by wholly owned Murphy Exploration & Production Company - USA and its subsidiaries, in Canada by wholly-owned Murphy Oil Company Ltd. and its subsidiaries, and in Australia, Brazil, Brunei, Mexico and Vietnam by wholly-owned Murphy Exploration & Production Company - International and its subsidiaries. The company's hydrocarbon production is in United States, Canada and Brunei.
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