Murphy Oil Corporation Provides Deal Updates in its Annual Report 2017

Source 10-K
Company Murphy Oil Corporation 
Tags Asset Deals, Deals, Exploration, Upstream Activities
Date February 26, 2018

Malaysia

In November 2017, the Company acquired a 59.5% working interest in Sarawak SK405B PSC. The block SK405B is approximately 2,305 square kilometers (890 square miles) and has water depths in the range from 10 to 50 meters (33 to 164 feet). Under the terms of the PSC, the Company will operate the block with a participating interest of 59.5%

In February 2016, the Company acquired a 40% working interest in Block Deepwater SK2A PSC, offshore Sarawak. The Company operates the block with a commitment to acquire and process new 3D seismic. The commitment was fulfilled during 2016. A decision to enter the next phase of the PSC, involving a one-well commitment, will be made in the future. This block includes 609 thousand gross acres.

Australia

In December 2017, Murphy signed a farm-in agreement to acquire a 40% non-operated interest in AC/P21 in the Vulcan Basin, offshore Western Australia. Acquisition of multiclient 3D seismic commenced over the permitted area in December 2017. The permit comprises approximately 165 thousand acres and expires in June 2019.

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