Murphy Oil Corporation announced an oil discovery at the Hai Su Vang-1X exploration well in Block 15-2/17 in the Cuu Long Basin, located 40 miles offshore Vietnam. The well was drilled to a total depth of 13,124 feet in 149 feet of water.
The Hai Su Vang-1X well encountered approximately 370 feet of net oil pay from two distinct reservoirs. This discovery is one of multiple exploration prospects identified by Murphy in the basin and could form the basis for future field development.
Murphy's subsidiary, Murphy Cuu Long Tay Oil Co., Ltd., operates the block with a 40 percent working interest. Eric M. Hambly, President and CEO, stated that this discovery adds further upside to Murphy's growing Vietnam business.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.