Murphy Oil has concluded its Caracal-1X exploration well in Block CI-102 offshore Côte d'Ivoire as a dry hole. The well was plugged and abandoned after reaching a total depth of 8,534 feet and encountering only non-commercial hydrocarbon shows.

Operational Details and Partnership

Murphy Oil operates Block CI-102 with a 90% working interest, while its partner PETROCI holds the remaining 10%. The data from this well will be used to evaluate the remaining exploration potential across Murphy's acreage in the region.

Continued Exploration Campaign

Despite this result, Murphy Oil is proceeding with its planned exploration campaign in Côte d'Ivoire. The company remains committed to drilling the Bubale-1X well in Block CI-709. This prospect targets a geological play distinct from previous wells, including Caracal-1X and the Civette-1X well, and represents the third well in the current program.

Broader Portfolio Context

Murphy's offshore exploration in West Africa is part of a broader portfolio that includes:

• Onshore assets in the Eagle Ford, Tupper Montney, and Kaybob Duvernay areas.
• Offshore assets in the Gulf of Mexico and offshore Canada.