Murphy Oil down as Civette well in Cote d'Ivoire finds non-commercial hydrocarbons

Murphy Oil

20/01/2026 16:25

** Shares of oil and gas producer Murphy Oil MUR.N slip 7% to $31.49

** Co on Monday said that its Civette-1X exploration well in Block CI-502 offshore Cote d'Ivoire encountered non-commercial hydrocarbons across multiple intervals

** CEO Eric Hambly calls the exploration "a meaningful success" for confirming hydrocarbon presence but acknowledges the well does not meet commercial thresholds, dampening investor sentiment

** Murphy retains a 90% working interest in Block CI-502 and plans to advance exploration with the Caracal and Bubale prospects

** In 2025, MUR rose 3.3%

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))