Murphy Oil surpassed 25,000 boe/d at the end of 2012 and annualized production averaged 15,000 boe/d. With an exit rate above 25,000 boe/d, the company is in a nice position to meet or exceed its production target of 30,000 boe/d in 2013.
Murphy is working 10 rigs and three frack crews around the clock. The company has drilled 216 wells to date and has brought 163 to production. Total time spent to drill and case wells is averaging 11-13 days across the play. [Read more…]