Murphy Oil Discovers Light Oil at Bubale-1X Offshore Côte d'Ivoire

Murphy Oil Corp. has announced a significant oil discovery at the Bubale-1X exploration well in Block CI-709, located approximately 40 miles offshore Côte d'Ivoire. The well encountered 100 feet (30 meters) of net oil pay across two reservoirs, with preliminary evaluations indicating the presence of high-quality light oil. Drilled to a total depth of 20,548 feet (6,263 meters) in water depths of 7,795 feet (2,376 meters), this discovery reinforces the prospectivity of Murphy's acreage in the region.

Exploration Campaign and Next Steps

Bubale-1X is the third and final well in Murphy's current three-well exploration campaign offshore Côte d'Ivoire. Following the discovery, the company plans to advance evaluation plans to define the full potential of the accumulation. This includes scheduling an additional well for the second half of 2026 to further assess the extent of the discovery. The well was spud in late February by Murphy CI-709 Oil Co., Ltd., a subsidiary of Murphy Oil, which operates Block CI-709 with a 90% working interest, while Côte d'Ivoire's national oil company, PETROCI, holds the remaining 10%.

Regional Context and Industry Interest

This discovery adds to growing exploration activity offshore Côte d'Ivoire, where operators continue to target deepwater prospects along the West African margin. The region is experiencing increasing industry interest in emerging upstream opportunities, with Murphy's disciplined and consistent exploration approach underscoring the value of such efforts in this promising area.