Murphy Oil acquires interest in deepwater Brazil blocks

Murphy Brazil Exploração E Produção De Petróleo E Gás Ltda., a wholly owned Brazilian subsidiary of Murphy Oil Corp. (NYSE: MUR), has entered into a farm-in agreement with Queiroz Galvão Exploração e Produção SA (QGEP) to acquire a 20% working interest (WI) in Blocks SEAL-M-351 and SEAL-M-428, located in the deep water Sergipe-Alagoas Basin, offshore Brazil.

QGEP will retain a 30% WI in the blocks, and in a related but separate transaction, ExxonMobil Exploração Brasil Ltda. (an affiliate of ExxonMobil Corp.) has farmed into the remaining 50% WI as the operator. The blocks are located 80 to 100 kilometers (50 to 60 miles) off the coast of Brazil and cover a total area of approximately 1,500 square kilometers (580 square miles).

In addition, Murphy and its partners are the high bidder in Brazil’s Round 14 lease sale for Blocks SEAL-M-501 and SEAL-M-503, which are adjacent to SEAL-M-351 and SEAL-M-428. ExxonMobil will operate and the partners will maintain the same WI in each of these blocks. These new acreage positions are near several major Petrobras discoveries.

Murphy Oil Corp. is a global independent oil and natural gas exploration and production company. The company’s resource base includes offshore production in Southeast Asia, Canada and Gulf of Mexico, as well as North America onshore plays in the Eagle Ford Shale, Kaybob Duvernay and Montney.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...