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Stock Market & Financial Investment News

News Breaks
November 21, 2012
09:04 EDTMURMurphy Oil abandons offshore Congo well and acquires Australia interest
Murphy Oil announced the results of its recent drilling offshore Republic of the Congo in the Mer Profonde Nord permit and entry into a new block offshore Australia. The Opale Marine - 1 well in the MPN Block was unsuccessful and has been plugged and abandoned. The total net cost of the well is estimated at $48M and will be expensed in Q4. As a result, Murphy will also take a noncash charge of $29M in the quarter to write off the Titane Marine - 1 well. The company has also expanded its position in the Browse Basin offshore Australia by picking up a 20% working interest in Block WA-408-P where drilling is expected to begin in December this year.
News For MUR From The Last 14 Days
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March 23, 2015
16:37 EDTMURMurphy Oil announces Q1 well results, sees dry hole expense of $23M in Q1
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March 13, 2015
13:15 EDTMURPuma Energy acquires Murco Oil's UK assets
Puma Energy announced the acquisition of a series of UK assets from Murco Petroleum Limited, a subsidiary of Murphy Oil. The acquisition includes the Milford Haven facility in Wales, UK and three inland terminals at Westerleigh, Theale and Bedworth, as well as Murco's wholesale and distribution business in the UK. This in total adds approximately 1.4Mm3 of storage capacity to Puma Energy's midstream operations of 5.6Mm3. Under the terms of the agreement, which represents Puma Energy's first acquisition in the United Kingdom, the Company will acquire the assets and convert the site into a state-of-the-art storage facility. Puma Energy is also delighted to be welcoming all the terminal and distribution employees.

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