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STS - Murphy Oil Highlights - May 7, 2020

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During Q1, Murphy Oil brought online 10 wells in the Catarina area and four wells in Karnes County, at an average D&C cost of $4.8 million. The company also participated in the drilling of 32 non-operated Karnes wells, with five completions planned for Q2 and the rest deferred to 2021. The company’s Q1 output from the play averaged 42,000 boe/d (74% oil), down 16% sequentially. Murphy has cut its companywide 2020 capex guidance 50%......
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