Comming this OctoberMurphy Oil has 12 exploration wells on tap for 2010, including nine in the international portfolio. These wells are in Malaysia, Republic of Congo, Suriname and Indonesia.
Murphy Oil has drilled two of these exploration wells on Block H offshore Malaysia, with the Dolfin Well finding net pay, and the Batai Well finding non-commercial amounts of hydrocarbons.
The company has three exploratory wells planned for the offshore area of the Republic of Congo, and two wells on Block 37 located in offshore Suriname. The company's remaining exploratory well is in the Semai II area, in offshore Indonesia. The two wells in Suriname are high profile for the company, with estimates of 1 billion BOE of potential reserves for the two of them combined.
Let's hope they hit their targets. This would be huge for CGX shareholders.