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Murphy Oil Announces Vietnam First Oil and Exploration Success

BullishMedium impact
MUR$39.38 1.81%

Murphy Oil Corporation (MUR) announced progress across several global offshore operations, including the start of production at Lac Da Vang in Vietnam on Sept. 27, 2026. The company also confirmed new oil discoveries and successful appraisal drilling in Côte d'Ivoire, Vietnam, and the Gulf of America.

The startup of Lac Da Vang establishes production infrastructure in Vietnam's Block 15-1/05, where peak net output is projected at 10,000 to 15,000 barrels of oil equivalent per day between 2028 and 2029. Meanwhile, initial gross production at Chinook #8 in the Gulf of America has reached approximately 15,000 barrels of oil equivalent per day, where Murphy Oil Corporation holds a working interest of about 86.7%.

Looking ahead, the company plans to evaluate data from the newly discovered Lac Da Trang North-1X well in Vietnam to plan future appraisal and development steps. Investors will also monitor the production ramp-up at Lac Da Vang through 2028 alongside further evaluation of the Bubale West-1X appraisal off Côte d'Ivoire.

Key points

  • First oil from Lac Da Vang in Vietnam was reached on Sept. 27, 2026, with production ramping up through 2028.
  • Peak net production at Lac Da Vang is projected at 10,000 to 15,000 barrels of oil equivalent per day in 2028–2029.
  • The Chinook #8 well in the Gulf of America came online with initial gross production of around 15,000 barrels of oil equivalent per day.
  • Appraisal drilling at Bubale West-1X in Côte d'Ivoire encountered approximately 88 feet of net oil pay.

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Questions and answers

When did Murphy Oil achieve first oil at Lac Da Vang in Vietnam?

Murphy Oil achieved first oil at the Lac Da Vang field on Sept. 27, 2026.

What is the projected peak production for Lac Da Vang?

Peak net production at Lac Da Vang is projected at 10,000 to 15,000 barrels of oil equivalent per day between 2028 and 2029.

What are the initial production numbers for the Chinook #8 well?

The Chinook #8 well in the Gulf of America came online with initial gross production of approximately 15,000 barrels of oil equivalent per day.