Murphy Oil's Eagle Ford Production Grows to 39,000 boe/d in 2013

Murphy Eagle Ford Production
Murphy Eagle Ford Production

In 2013, Murphy Oil originally planned Eagle Ford production of ~30,000 boe/d, but the company blew through that goal and produced an average of 39,000 boe/d for the year.

Also read:Murphy Oil's Eagle Ford Production Hits Milestone

Murphy's fourth quarter total oil production rose from 132,918 b/d in 2012 to 139,660 b/d in 2013 or an increase of 5%. The Eagle Ford was the primary contributor to oil production growth.

The company's average oil production was 135,078 b/d in 2013, an increase of ~20% compared to the 2012 level of 112,591 b/d.

In 2013, we continued to grow production led by our onshore Eagle Ford Shale operation, where total production averaged 39,000 net barrels of oil equivalent per day for the year.
— Murphy's President, Roger Jenkins

With oil production growth of 20%, it's easy to see the significant impact oil plays like the Eagle Ford.

Murphy Oil at a Glance in 2013

  • Significant Production Growth in Eagle Ford in 2013
  • 39,000 net boe/d in Eagle Ford in 2013
  • ~5% Q4 oil production increase to 139,660 b/d
  • ~20% total year oil production increase to 135,078 b/d

Murphy Oil's Eagle Ford Production in 2013

Murphy has outperformed in the Eagle Ford. At the beginning of 2013, the company had a target of 30,000 boe/d in the formation.

The company's Eagle Ford production in 2013 well surpassed its goal, hitting 39,000 boe/d. That's 30% higher than the company planned.

Murphy now expects to surpass 60,000 boe/d at some point in 2015.