Murphy Oil Corporation announced on January 6, 2026 that its subsidiary completed the Hai Su Vang‑2X (HSV‑2X) appraisal well in Block 15‑2/17 of the Cuu Long Basin offshore Vietnam. The well produced 6,000 barrels of oil per day during flow testing and encountered 429 feet of net oil pay, comprising 332 feet in the primary reservoir and 97 feet in a shallower interval.
The appraisal extended the proven oil‑down‑to by 413 feet, raising the total hydrocarbon column to roughly 1,600 feet. The 37‑degree API oil quality matched the discovery well’s results, confirming the field’s commerciality and supporting a revised recoverable resource estimate that now tops the previously communicated 170‑430 MMBOE range, with upside from the shallow reservoir.
Murphy’s CEO, Eric Hambly, said the success “sets the stage for a robust development program.” The company reaffirmed its $1.1–$1.3 billion 2026 capital‑expenditure guidance, indicating confidence in scaling the project and other ongoing initiatives.
The company will continue drilling HSV‑3X and HSV‑4X appraisal wells to further delineate the field, with a first‑oil target of Q4 2026 and a projected production base of 30,000–60,000 barrels per day by 2028. Murphy holds a 40 % working interest in the block, partnered with PetroVietnam Exploration Production Corporation (35 %) and SK Earthon Co., Ltd. (25 %).
The Cuu Long Basin is a well‑established petroleum province known for high‑quality, 37‑degree API crude, comparable to Brent. Murphy’s success in this basin reinforces its strategic focus on Vietnam, where it also operates the Lac Da Vang field, expected to begin production in Q4 2026. The proximity of Hai Su Vang to existing infrastructure could yield cost synergies in development and production.
The HSV‑1X discovery well, drilled in late 2024, initially encountered approximately 370 feet of net oil pay, underscoring the basin’s productive potential and providing a strong foundation for the current appraisal results.
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