Murphy Oil reduces 2020 CAPEX plans
Murphy’s revised 2020 budget is now approximately US$950 million, a nearly 35% revision.
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Murphy’s revised 2020 budget is now approximately US$950 million, a nearly 35% revision.
The company recorded loss after tax of US$1694 million. in 2019.
The company has said it completing a series of "transformational" acquisitions in the Republic of the Congo, West Africa, Tunisia and Italy.
The move, beginning from April, is in response to the oil price war between Saudi Arabia and Russia.
Tailwind Energy will make a final investment decision on the Evelyn field, in the central North Sea, in 2020.
The Sole gas project has passed a critical milestone with the first flow of gas from the Sole gas field to the Orbost gas processing plant.
Production had been suspended at the Cliff Head Alpha Platform offshore Western Australia due to an electrical fault.
Well 35/10-5 will be drilled from the West Hercules drilling facility.
US natural gas production grew by 9.8 billion ft3/d in 2019, a 10% increase from 2018, according to the US Energy Information Administration.
Alexandra Thomas has joined the company as UK Managing Director, based in Aberdeen.
The company anticipates West Barracouta gas flowing to the Australian domestic gas market by early 2021.
Logan will provide turn-around upgrade and repairs to a fleet of wireline tensioners onboard five active drilling and completion vessels.