Operator Murphy Oil is looking to spud a deepwater wildcat on its Urca prospect in Mississippi Canyon 697 in the US Gulf.

Described as a lower Miocene sub-salt target, Murphy has cited a pre-drill reserves estimate for Urca of 130 MMbbl. The company is also continuing work on its Titan prospect in Desoto Canyon 178 in the GoM, where the well is currently being sidetracked. A small oil accumulation was encountered by the Titan well, and Murphy is now sidetracking the hole to test estimated gross mean reserves estimated at 130 MMbbl in an adjacent fault block prospect.

Murphy’s stated exploration strategy in the US Gulf is focused on three main play types, the Jurassic Norphlet, Upper Miocene, and Mid the Lower Miocene sub-salt.

During the second quarter Murphy also reported two dry holes drilled offshore Asia, at the Hon Khoai prospect in Vietnam and the Serai-1 well and an associated sidetrack on its Bawang Putih prospect in Indonesia. Both were plugged and abandoned at a cost of US $16.5 million expensed in the second quarter, and the Indonesia wells will involve a further $7.9 million expense in the third quarter.

Offshore