Murphy Oil's Bubale-1X Discovery Offshore Ivory Coast

Murphy Oil has achieved a significant exploration success with its Bubale-1X well in Block CI-709 offshore Ivory Coast, encountering 100 feet (30 metres) of net oil pay across two reservoirs. The well was drilled to a total depth of 20,548 feet (6,263 metres) in a water depth of 7,795 feet (2,376 metres). This discovery marks a turnaround for the operator, which had previously drilled two dry holes in the country: the Civette-1X well in Block CI-502, which encountered non-commercial hydrocarbons, and a second dry hole revealed in February.

Appraisal and Future Plans

Following the discovery, Murphy Oil will shift into further evaluation mode at Bubale. The operator plans to drill one additional well in the second half of 2026 to further test the extent of the discovery. Bubale-1X was the third and final exploration well in Murphy’s current Ivory Coast programme, having been spudded in late February.

Working Interest and Stakeholder Position

Murphy Oil holds a 90% working interest in Block CI-709, while the state-owned Petroci holds the remaining 10%.

Company Outlook

Despite previous well disappointments, Murphy Oil remained optimistic about its Ivory Coast prospects. Chief executive Eric Hambly expressed enthusiasm, stating that early results at Bubale reinforce the prospectivity of the company's Ivory Coast acreage. He emphasized the value of a disciplined and consistent exploration approach, noting that the immediate focus is on advancing evaluation plans to define the discovery’s full potential.