Mar. 01 - Murphy Oil Announces Update on Front Runner Discovery.

Source Press Release
Company Murphy Oil Corporation 
Tags Upstream Activities, Strategy - Upstream
Date March 27, 2001

Murphy Oil Corporation announced that the exploratory well testing its deepwater “Front Runner” prospect in Green Canyon Block 338 encountered in excess of 850 feet true vertical thickness of pay. Although the appraisal program is in progress and results are preliminary, based upon the outcome of the discovery well, reserves are now estimated to meet or exceed the pre-drill range of 80 to 120 million barrels of oil equivalent (MMBOE).

The well was drilled in a water depth of approximately 3,500 feet and reached a total depth of 22,925 feet. Murphy owns a 37.5% working interest in Green Canyon Block 338 and serves as operator; partners are Dominion 37.5%, and Spinnaker Exploration Company 25%.

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