Murphy Oil has plugged and abandoned an unsuccessful offshore well located in the Mer Profonde Nord (MPN) permit in Congo Brazaville.
The company estimates a cost of about $48MM on the drilling of Opale Marine – 1 well in the MPN Block, which will be accounted in its 4th quarter 2012 report. Murphy will also take a non-cash charge of $29MM in the quarter to write off the Titane Marine -1 well which was drilled in October 2010 and was suspended pending results of additional exploratory drilling on the block.
