Murphy Oil Corp (MUR) · Oct 13, 2026 · Other events
Two discoveries, two starts — 131 feet net oil pay at Lac Da Trang; Chinook #8 at ~15 MBOEPD gross
Murphy Oil’s latest exploration and production update delivers two discoveries, first oil in Vietnam and a new Gulf of America producer.
Murphy is executing an offshore growth plan built around replacing mature production with new Vietnam, Gulf of America and Côte d’Ivoire resources, while using its existing portfolio to fund development. Its 2026 plan already targeted first oil at Lac Da Vang and new Gulf production during the second half of the year, so the timing of those milestones was largely expected.
The development milestones arrived as planned, but with useful operating proof. Lac Da Vang achieved first oil on September 27 and is expected to ramp toward 10–15 MBOEPD of net peak production in 2028–2029. 〔0〕 Chinook #8 is also online at an initial gross rate of approximately 15 MBOEPD, consistent with pre-drill expectations rather than an outperformance. 〔1〕
The genuinely incremental news is the added resource upside in Vietnam and Côte d’Ivoire. Lac Da Trang North-1X encountered 131 feet of net oil pay, while Bubale West-1X found 88 feet in the main reservoir plus additional hydrocarbons deeper down. The nearby Lac Da Vang infrastructure could make Lac Da Trang a shorter-cycle tieback, although the filing does not yet provide reserves, recoverable volumes, economics or an approved development plan.
This strengthens Murphy’s portfolio story without changing near-term guidance by itself. The company has converted two previously planned development milestones into production and added two successful wells to its exploration inventory, but Bubale still requires more appraisal and Lac Da Trang still requires technical and commercial evaluation. The update therefore improves confidence in execution and future growth more than it changes current-year production expectations.
Bottom line: This is a meaningful operational step forward, not merely promotional exploration commentary: Murphy delivered the expected production ramp and added two oil discoveries. The business story improves, but the ultimate value of the discoveries remains dependent on appraisal and development decisions.
Lac Da Trang appraisal and development assessment
A buy-side analyst on every ticker — it reads every public company's filing the instant it drops and decodes it into plain English.
A buy-side analyst on every ticker — the whole market decoded the second it moves, before it's a headline. Free gives you a taste. Pro takes the cap off and opens the full read on every company.
by Signing in NOW, claim your FREE 14-day Pro trial!