The company estimates a cost of about $48m on the drilling of Opale Marine – 1 well in the MPN Block, which will be accounted in the final quarter of 2012.
Murphy will also take a non-cash charge of $29m 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.
Apart from the drilling update, the company has announced picking up 20% working interest in gas bearing Block WA-408-P in the Browse Basin offshore Australia.
The company is expecting to commence drilling in December 2012.
