Murphy Oil & Partners Award of Deepwater Block in Mexico

Source: www.gulfoilandgas.com 12/5/2016, Location: South America

Murphy Oil Corporation (MUR) announced that a joint venture led by its Mexican subsidiary, Murphy Sur, S. de R.L. de C.V., was the high bidder and is expected to be awarded Block 5 during Mexico's fourth phase, round one deepwater auction. Under the terms of the JV, Murphy will be the operator with a 30 percent working interest (WI), together with PC CARIGALI MEXICO OPERATIONS, S.A. DE C.V., a wholly-owned subsidiary of PETRONAS (23.34 percent WI), Ophir Energy (23.33 percent WI) and Sierra Offshore Exploration (23.33 percent WI).

Block 5 is located in the deepwater Salinas basin covering approximately 2,600 square kilometers (1,000 square miles), and water depths in this block range from 700 to 1,100 meters (2,300 to 3,600 feet). The initial exploration period for the license is four years and includes a work program commitment of one well.


Germany >>  11/8/2024 - ITM Power is pleased to announce that we have signed our first contract to sell a NEPTUNE V unit to Guttroff GmbH, a private German company that provi...
India >>  11/8/2024 - The Board of Synergia Energy Limited (Synergia or the Company) is pleased to announce the following update on operations being conducted on its Cambay...

Norway >>  11/7/2024 - Equinor has signed an agreement to acquire Sval Energi’s 11.8% share in the Halten East Unit. With this acquisition, Equinor increases its ownership t...
United States >>  11/6/2024 - FREYR Battery (NYSE: FREY) (“FREYR” or the “Company”) has announced that the Company has entered into an agreement to acquire the U.S. solar manufactu...

Thailand >>  11/5/2024 - Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) ("Valeura" or the "Company") is pleased to announce the completion of an internal restructuring of its Thai...
United Kingdom >>  11/5/2024 - The Board of Synergia Energy Limited (Synergia or the Company) is very pleased to announce that it has arranged funding for the initial development of...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.