Murphy Oil Corporation is simultaneously scaling its production capacity and expanding its exploration footprint through a series of successful offshore operations across three distinct basins. The company reported first oil from the Lac Da Vang field in Vietnam, production from the Chinook #8 well in the Gulf of America, and significant appraisal and discovery results in Côte d’Ivoire and Vietnam. These developments aim to strengthen the company's resource potential and convert existing assets into immediate cash flow, supporting its long-term strategy of full-cycle development and shareholder value creation.
Bubale West-1X and Lac Da Trang Discovery Results
The company’s exploration and appraisal efforts have yielded high-quality hydrocarbon indicators in West Africa and Southeast Asia. In Block CI-103 offshore Côte d’Ivoire, the Bubale West-1X well reached a total measured depth of approximately 19,357 feet in 9,039 feet of water. The well encountered approximately 88 feet of net oil pay in the Turonian reservoir, with additional hydrocarbons identified in the deeper Albian reservoir. Murphy CI-103 Oil Co., Ltd., which holds an 85 percent working interest and serves as operator, plans to integrate this data to optimize the remaining appraisal program.
In Vietnam’s Block 15-1/05, the Lac Da Trang North-1X well successfully encountered 131 feet of net oil pay at a total measured depth of approximately 12,579 feet. Murphy Cuu Long Bac Oil Co., Ltd. operates this block with a 40 percent working interest, alongside PetroVietnam Exploration Production Corporation Ltd. (35 percent) and SK Earthon Co. Ltd. (25 percent). The company is currently evaluating appraisal and development options for this new discovery.
Lac Da Vang and Chinook #8 Production Scaling
Murphy is transitioning several assets from development to active production to bolster its offshore portfolio. The Lac Da Vang field offshore Vietnam achieved first oil on September 27, 2026. The company expects this development to ramp up through 2028, targeting net peak production of approximately 10-15 MBOEPD during the 2028-2029 period. This asset is positioned to provide critical nearby infrastructure that could allow for a capital-efficient tieback of the Lac Da Trang North discovery.
In the Gulf of America, the Chinook #8 development well in Walker Ridge Block 425 is now online. Producing through the Pioneer floating production, storage and offloading (FPSO) vessel in the Cascade-Chinook field, the well achieved an initial gross production rate of approximately 15 MBOEPD. Murphy holds an 86.7 percent working interest in this well, with Petrobras America Inc. holding the remaining 13.3 percent.
Key Takeaways
- The Lac Da Vang field in Vietnam reached first oil on September 27, 2026, with projected peak production of 10-15 MBOEPD by 2028-2029.
- The Bubale West-1X well offshore Côte d’Ivoire encountered 88 feet of net oil pay in the Turonian reservoir and additional hydrocarbons in the Albian reservoir.
- The Chinook #8 well in the Gulf of America has commenced production at an initial gross rate of approximately 15 MBOEPD.
EnergyInsyte's Take
In our view, Murphy Oil is executing a sophisticated "hub-and-spoke" development strategy that prioritizes capital efficiency. By bringing the Lac Da Vang field online, the company has not only secured immediate cash flow but has also created a strategic infrastructure advantage for the Lac Da Trang North discovery. The potential to tie back new discoveries to existing production facilities significantly lowers the barrier to entry for future development. This approach, combined with the successful deployment of the Chinook #8 well, suggests a disciplined focus on converting exploration successes into predictable, short-cycle production volumes across diverse geographic basins.
Questions & Answers
How will the Lac Da Vang production impact future exploration in Vietnam?
The Lac Da Vang asset provides existing infrastructure that Murphy is positioning as a potential tieback point for the Lac Da Trang North-1X discovery, which could enable a more capital-efficient development.
What are the technical specifics of the Bubale West-1X appraisal?
The well was drilled to 19,357 feet in 9,039 feet of water, encountering 88 feet of net oil pay in the Turonian reservoir and additional hydrocarbons in the deeper Albian reservoir.
What is the projected production timeline for the Lac Da Vang field?
First oil was achieved on September 27, 2026, and the company expects a production ramp-up through 2028, reaching a net peak of 10-15 MBOEPD in 2028-2029.
What is the current production status of the Chinook #8 well?
The well is currently online and producing through the Pioneer FPSO in the Cascade-Chinook field at an initial gross rate of approximately 15 MBOEPD.
Source: Murphy Oil Corporation
