Murphy Oil Corporation Oil & Gas Exploration and Production Operations and Cost Analysis - Q3, 2014
Summary
Murphy Oil Corporation (Murphy Oil) is an international upstream oil and gas company. The company explores for develops and produces oil and gas from its assets. it also holds refining and marketing operations in the United Kingdom that are held for sale. Murphy Oil classifies its exploration and production into five segments namely the US, Canada, Malaysia, the Republic of the Congo and all other countries. Its Refining and marketing operations are located in the UK. Murphy is headquartered in El Dorado, Arkansas, the US. Murphy Oil focuses on strengthening its business operations by divesting its Refining and Marketing activities which it previously holded. In line with this approach, the company recently had completed the seperation of its Refining and Marketing operations in the US.
Murphy Oil Corporation Oil & Gas Exploration and Production Operations and Cost Analysis is the latest report from GlobalData, the industry analysis specialists, that offers comprehensive information on the operational and financial performance of the company. The report is an essential source for key operational data, analysis and strategic insight into company. The report provides latest annual and quarterly overview of production, reserves, share price performance, reserve changes, capital expenditures, acreage, performance metrics and results of oil & gas operations.
Scope
The report provides in-depth analysis and insights into companies’ capital spending, revenues, oil and gas reserves, production, and performance measures. Its scope includes -
- The report provides detailed and unique insights information on the key operational parameters. The report provides a comprehensive overview of production, reserves, reserve changes, capital expenditures, acreage, performance metrics, and results of oil & gas operations.
- Provides analysis of the share price performance of the company and the key valuation multiples. The report provides a comprehensive overview of share price performance and key valuation metrics such as market capitalization, enterprise value, EV/Production ($boe/d) and EV/Proved Reserve ($/boe)
- Provides annual and quarterly information on key operational and financial parameters. Annual information is for the current and the last four years while the quarterly information is for the current and the last four quarters
- The report provides detailed crude oil and natural gas reserves and production information of the company by country as disclosed in their annual report and regulatory filings.
- Contains in-depth and latest information on exploration, development, finding & development, acquisition expenditure, gross and net developed and undeveloped acreage position; key costs and revenue information; and performance metrics of the company as disclosed in their annual report and regulatory filings.
Note: Scope of the report mentioned above is generic and may not be applicable to all the companies. The report is based on the information disclosed by the company in their annual report and regulatory filings. Information that is not disclosed by the company may not be available in the report.
Quarterly information is covered only for those companies which are December ending and files quarter report. There might be cases where countries/regions data column/Charts will be blank for last five years. This is due to companies might have discontinued reporting of that countries/regions during the last five year time period.
Reasons to buy
The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Provides up-to-date information and in-depth analysis on operational parameters of the company.
- Identify M&A targets from up-to-date information and in-depth analysis on financial and operational parameters of your competitors.
- Rank your performance against other E&P companies using operational and financial benchmarking metrics.
- Formulate your strategies based on in-depth analysis of your competitors’ financial and operational data.
- Exploit the strengths and weakness of your closest competitors by comparing and analyzing their financial and operational parameters.
- Establish relative performance among the industry’s players based on key operational and financial measures.
Table Of Contents
Table of Contents
Table of Contents 2
List of Tables 5
List of Figures 6
Company Snapshot 8
Key Information 8
Company Overview 8
Murphy Oil Corporation, Valuation and Financial Data 9
Murphy Oil Corporation, Share Price Performance 9
Share Price Performance, Q3, 2013-Q3, 2014 9
Murphy Oil Corporation, Key Valuation Metrics 10
Key Valuation Metrics, Q3, 2013-Q3, 2014 10
Murphy Oil Corporation, Quarterly Results of Oil & Gas Operations Per boe Produced 11
Results of Oil & Gas Operations Per boe Produced, Q3, 2013-Q3, 2014 11
Results of Oil & Gas Operations Per boe Growth Rates, Q3, 2013-Q3, 2014 12
Murphy Oil Corporation, Quarterly E&P Costs Trends 13
Upstream Capital Expenditure, Q3, 2013-Q3, 2014 13
Murphy Oil Corporation, Quarterly Production Trends 14
Murphy Oil Corporation, Total Oil and Gas Production 14
Total Crude Oil and Natural Gas Production Trend, Q3, 2013-Q3, 2014 14
Total Crude Oil & Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 15
Murphy Oil Corporation, Crude Oil Production 16
Total Crude Oil Production Trend, Q3, 2013-Q3, 2014 16
Crude Oil Production, By Country/Region, Q3, 2013-Q3, 2014 17
Murphy Oil Corporation, Natural Gas Production 18
Total Natural Gas Production Trend, Q3, 2013-Q3, 2014 18
Natural Gas Production, By Country/Region, Q3, 2013-Q3, 2014 19
Murphy Oil Corporation, Valuation and Financial Data, 2009-2013 20
Murphy Oil Corporation, Share Price Performance, 2009-2013 20
Share Price Performance, 2009-2013 20
Key Valuation Metrics, 2009-2013 21
Murphy Oil Corporation, Production and Reserves Trends 22
Total Oil and Gas, Reserves and Production 22
Total Crude Oil and Natural Gas Production and Reserves Trend, 2009-2013 22
Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2009-2013 24
Total Crude Oil and Natural Gas Reserve Changes, 2009-2013 26
Crude Oil/Liquids Production and Reserve 27
Crude Oil/Liquids Production and Reserve Trend, 2009-2013 27
Crude Oil Production and Reserves By Country/Region, 2009-2013 28
Crude Oil/Liquids Reserve Changes, 2009-2013 30
Natural Gas Production and Reserve 31
Natural Gas Production and Reserve Trend, 2009-2013 31
Natural Gas Production and Reserves, By Country/Region, 2009-2013 32
Natural Gas Reserve Changes, 2009-2013 34
Total Crude Oil and Natural Gas Reserves Life Index 35
Total Crude Oil and Natural Gas Reserves Life Index, 2009-2013 35
Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2009-2013 36
Murphy Oil Corporation, E&P Costs Trends 38
Allocation of the Upstream Capital Expenditure 38
Upstream Capital Expenditure, 2009-2013 38
Acquisition Costs By Country/Region, 2009-2013 39
Exploration and Development Costs, By Country/Region, 2009-2013 41
Oil and Gas Cost Per boe, US$/boe 43
Oil and Gas Cost Per boe, US$/boe, 2009-2013 43
Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2009-2013 45
Murphy Oil Corporation, Reserve Replacement Ratio 48
Oil and Gas Production Replacement Ratio 48
Oil and Gas Production Replacement Ratio, 2009-2013 48
Oil and Gas Production Replacement Ratio, By Country/Region, 2009-2013 50
Murphy Oil Corporation, Results of Oil & Gas Operations Trend 55
Oil and Gas Revenue and Expenses 55
Oil and Gas Revenue and Expenses, 2009-2013 55
Oil and Gas Revenue and Expenses, By Country/Region, 2009-2013 56
Oil and Gas Revenue and Expenses, Per boe 62
Oil and Gas Revenue and Expenses, By boe, 2009-2013 62
Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2009-2013 63
Oil and Gas Performance Metrics 68
Murphy Oil Corporation, Land Holdings and Well Data 69
Developed and Undeveloped Acreage 69
Gross and Net Developed and Undeveloped Acreage, 2009-2013 69
Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2009-2013 70
Well Statistics 74
Producible Oil and Gas Well, 2009-2013 74
Producible Oil and Gas Well, By Country/Region, 2009-2013 75
Exploration and Development Wells Drilled, 2009-2013 80
Exploration and Development Wells Drilled, By Country/Region, 2009-2013 81
Recent Developments 83
Murphy Oil Corporation - Recent Developments 83
Oct 29, 2014: Murphy Oil Announces Preliminary Third Quarter 2014 Earnings 83
Oct 01, 2014: Murphy Oil Announces Regular Dividend, Operations Update And Executive management Succession 85
Aug 06, 2014: Murphy Oil Corporation Announces Share Repurchase Program Dividend Increase And Election Of New Director 86
Jul 30, 2014: Murphy Oil Announces Preliminary Second Quarter 2014 Earnings 86
Jun 16, 2014: Skk Migas: Murphy Oil Commences to Spud Serai-1 Exploratory Well 88
Apr 30, 2014: Murphy Oil Announces Preliminary First Quarter 2014 Earnings 89
Apr 02, 2014: Murphy Oil Announces Dividend 91
Mar 03, 2014: Murphy Oil Announces First Oil At Siakap North-Petai And Updates Progress At Dalmatian 91
Feb 07, 2014: Murphy Oil Announces Executive Promotions 92
Feb 05, 2014: Murphy Oil Announces $250 Million Accelerated Share Repurchase Transaction And Regular Dividend 92
Appendix 93
Methodology 93
Coverage 93
Secondary Research 93
Primary Research 93
Data Information Sources 94
Company Source 94
SEC/Other Regulatory Filings 94
Other Sources 94
Expert Panel Validation 94
Data Definition 94
Oil and Gas Reserves 94
Units of Measure 95
About GlobalData 95
Disclosure 95
Disclaimer 95
List Of Tables
List of Tables
Table 1: Murphy Oil Corporation, Key Facts 8
Table 2: Murphy Oil Corporation, Share Price Performance, Q3, 2013-Q3, 2014 9
Table 3: Murphy Oil Corporation, Key Valuation Metrics, Q3, 2013-Q3, 2014 10
Table 4: Murphy Oil Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 11
Table 5: Murphy Oil Corporation, Results of Oil & Gas Operations Per boe Growth Rates, %, Q3, 2013-Q3, 2014 12
Table 6: Murphy Oil Corporation, Upstream Capital Expenditure, Q3, 2013-Q3, 2014 13
Table 7: Murphy Oil Corporation, Total Crude Oil and Natural Gas, Production, Q3, 2013-Q3, 2014 14
Table 8: Murphy Oil Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 15
Table 9: Murphy Oil Corporation, Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 16
Table 10: Murphy Oil Corporation, Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 17
Table 11: Murphy Oil Corporation, Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 18
Table 12: Murphy Oil Corporation, Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 19
Table 13: Murphy Oil Corporation, Share Price Performance, 2009-2013 20
Table 14: Murphy Oil Corporation, Key Valuation Metrics, 2009-2013 21
Table 15: Murphy Oil Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 23
Table 16: Murphy Oil Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2009-2013 25
Table 17: Murphy Oil Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2009-2013 26
Table 18: Murphy Oil Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 27
Table 19: Murphy Oil Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2009-2013 29
Table 20: Murphy Oil Corporation, Crude Oil Reserve Changes, mmbbl, 2009-2013 30
Table 21: Murphy Oil Corporation, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 31
Table 22: Murphy Oil Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2009-2013 33
Table 23: Murphy Oil Corporation, Natural Gas Reserve Changes, bcf, 2009-2013 34
Table 24: Murphy Oil Corporation, Oil and Gas Reserves Life Index, Years, 2009-2013 35
Table 25: Murphy Oil Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2009-2013 37
Table 26: Murphy Oil Corporation, Upstream Capital Expenditure, US$ mil, 2009-2013 38
Table 27: Murphy Oil Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 40
Table 28: Murphy Oil Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2009-2013 42
Table 29: Murphy Oil Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 43
Table 30: Murphy Oil Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2009-2013 47
Table 31: Murphy Oil Corporation, Oil and Gas Production Replacement Ratio, %, 2009-2013 48
Table 32: Murphy Oil Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2009-2013 53
Table 33: Murphy Oil Corporation, Revenue and Expenses, US$ mil, 2009-2013 55
Table 34: Murphy Oil Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2009-2013 60
Table 35: Murphy Oil Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 62
Table 36: Murphy Oil Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2009-2013 66
Table 37: Murphy Oil Corporation, Oil and Gas Performance Metrics, 2009-2013 68
Table 38: Murphy Oil Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 69
Table 39: Murphy Oil Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2009-2013 72
Table 40: Murphy Oil Corporation, Producible Oil and Gas Wells, 2009-2013 74
Table 41: Murphy Oil Corporation, Producible Oil and Gas Wells, By Country/Region, 2009-2013 78
Table 42: Murphy Oil Corporation, Exploratory and Developed Wells, 2009-2013 80
Table 43: Murphy Oil Corporation, Exploratory and Developed Wells, By Country/Region, 2009-2013 81
List Of Figures
List of Figures
Figure 1: Murphy Oil Corporation, Share Price Performance, USD/Share, Q3, 2013-Q3, 2014 9
Figure 2: Murphy Oil Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q3, 2013-Q3, 2014 10
Figure 3: Murphy Oil Corporation, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q3, 2013-Q3, 2014 11
Figure 4: Murphy Oil Corporation, Upstream Capital Expenditure, US$ mil, Q3, 2013-Q3, 2014 13
Figure 5: Murphy Oil Corporation, Total Crude Oil and Natural Gas, Production, mmboe, Q3, 2013-Q3, 2014 14
Figure 6: Murphy Oil Corporation, Total Oil & Gas Production, By Country/Region, mmboe, Q3, 2013-Q3, 2014 15
Figure 7: Murphy Oil Corporation, Total Crude Oil Production, mmbbl, Q3, 2013-Q3, 2014 16
Figure 8: Murphy Oil Corporation, Crude Oil Production, By Country/Region, mmbbl, Q3, 2013-Q3, 2014 17
Figure 9: Murphy Oil Corporation, Total Natural Gas Production, bcf, Q3, 2013-Q3, 2014 18
Figure 10: Murphy Oil Corporation, Natural Gas Production, By Country/Region, bcf, Q3, 2013-Q3, 2014 19
Figure 11: Murphy Oil Corporation, Share Price Performance, USD/Share, 2009-2013 20
Figure 12: Murphy Oil Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2009-2013 21
Figure 13: Murphy Oil Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2009-2013 22
Figure 14: Murphy Oil Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2009-2013 24
Figure 15: Murphy Oil Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2009-2013 24
Figure 16: Murphy Oil Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2013 26
Figure 17: Murphy Oil Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2009-2013 27
Figure 18: Murphy Oil Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2009-2013 28
Figure 19: Murphy Oil Corporation, Oil Production, By Country/Region, mmbbl, 2009-2013 28
Figure 20: Murphy Oil Corporation, Crude Oil Reserve Changes, mmbbl, 2013 30
Figure 21: Murphy Oil Corporation, Natural Gas Production and Reserves Metrics, bcf, 2009-2013 31
Figure 22: Murphy Oil Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2009-2013 32
Figure 23: Murphy Oil Corporation, Gas Production, By Country/Region, bcf, 2009-2013 32
Figure 24: Murphy Oil Corporation, Natural Gas Reserve Changes, bcf, 2013 34
Figure 25: Murphy Oil Corporation, Oil and Gas Reserves Life Index, Years, 2009-2013 35
Figure 26: Murphy Oil Corporation, Gas Reserve Life Index, By Country/Region, Years, 2009-2013 36
Figure 27: Murphy Oil Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2009-2013 36
Figure 28: Murphy Oil Corporation, Oil Reserve Life Index, By Country/Region, Years, 2009-2013 37
Figure 29: Murphy Oil Corporation, Upstream Capital Expenditure, US$ mil, 2009-2013 38
Figure 30: Murphy Oil Corporation, Proved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 31: Murphy Oil Corporation, Unproved Acquisition Costs, By Country/Region, US$ mil, 2009-2013 39
Figure 32: Murphy Oil Corporation, Development Costs, By Country/Region, US$ mil, 2009-2013 41
Figure 33: Murphy Oil Corporation, Exploration Costs, By Country/Region, US$ mil, 2009-2013 41
Figure 34: Murphy Oil Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2009-2013 43
Figure 35: Murphy Oil Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, $/boe, 2009-2013 45
Figure 36: Murphy Oil Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2009-2013 45
Figure 37: Murphy Oil Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, $/boe, 2009-2013 46
Figure 38: Murphy Oil Corporation, Proved Reserves Acquisition Cost per boe, 3-Year Average, By Country/Region, $/Boe, 2009-2013 46
Figure 39: Murphy Oil Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2009-2013 48
Figure 40: Murphy Oil Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2009-2013 50
Figure 41: Murphy Oil Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2009-2013 50
Figure 42: Murphy Oil Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2009-2013 51
Figure 43: Murphy Oil Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2009-2013 51
Figure 44: Murphy Oil Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2009-2013 52
Figure 45: Murphy Oil Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2009-2013 52
Figure 46: Murphy Oil Corporation, Revenue and Expenses, US$ mil, 2009-2013 55
Figure 47: Murphy Oil Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 56
Figure 48: Murphy Oil Corporation, Exploration Expenses, By Country/Region, US$ mil, 2009-2013 56
Figure 49: Murphy Oil Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 57
Figure 50: Murphy Oil Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 57
Figure 51: Murphy Oil Corporation, Oil & Gas Revenue, By Country/Region, US$ mil, 2009-2013 58
Figure 52: Murphy Oil Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 58
Figure 53: Murphy Oil Corporation, Production Costs, By Country/Region, US$ mil, 2009-2013 59
Figure 54: Murphy Oil Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2009-2013 59
Figure 55: Murphy Oil Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2009-2013 62
Figure 56: Murphy Oil Corporation, Exploration Expenses per boe, By Country/Region, $/boe, 2009-2013 63
Figure 57: Murphy Oil Corporation, Income Tax/(Benefit) per boe, By Country/Region, $/boe, 2009-2013 63
Figure 58: Murphy Oil Corporation, Lifting Cost per boe, By Country/Region, $/boe, 2009-2013 64
Figure 59: Murphy Oil Corporation, Annual Net Income per boe, By Country/Region, $/boe, 2009-2013 64
Figure 60: Murphy Oil Corporation, Oil & Gas Revenue per boe, By Country/Region, $/boe, 2009-2013 65
Figure 61: Murphy Oil Corporation, Total DD&A per boe, By Country/Region, $/boe, 2009-2013 65
Figure 62: Murphy Oil Corporation, Total Revenue per boe, By Country/Region, $/boe, 2009-2013 66
Figure 63: Murphy Oil Corporation, Oil and Gas Performance Metrics, 2009-2013 68
Figure 64: Murphy Oil Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2009-2013 69
Figure 65: Murphy Oil Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2009-2013 70
Figure 66: Murphy Oil Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2009-2013 70
Figure 67: Murphy Oil Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2009-2013 71
Figure 68: Murphy Oil Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2009-2013 71
Figure 69: Murphy Oil Corporation, Producible Oil and Gas Wells, 2009-2013 74
Figure 70: Murphy Oil Corporation, Gross Productive Gas Wells, By Country/Region, Number, 2009-2013 75
Figure 71: Murphy Oil Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 75
Figure 72: Murphy Oil Corporation, Gross Productive Oil Wells, By Country/Region, Number, 2009-2013 76
Figure 73: Murphy Oil Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2009-2013 76
Figure 74: Murphy Oil Corporation, Net Productive Gas Wells, By Country/Region, Number, 2009-2013 77
Figure 75: Murphy Oil Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2009-2013 77
Figure 76: Murphy Oil Corporation, Net Productive Oil Wells, By Country/Region, Number, 2009-2013 78
Figure 77: Murphy Oil Corporation, Exploratory and Developed Wells, 2009-2013 80
