Murphy Oil Corporation (NYSE: MUR) announced an oil discovery at the Bubale-1X exploration well in Block CI-709, located approximately 40 miles offshore Côte d’Ivoire.

The Bubale-1X well was drilled to a total depth of 20,548 feet (6,263 meters) in 7,795 feet (2,376 meters) of water. The well encountered 100 feet (30 meters) of net oil pay across two reservoirs, with preliminary assessment indicating high-quality light oil.

“Early results at Bubale reinforce the prospectivity of our Côte d’Ivoire acreage,” said Eric Hambly, President and Chief Executive Officer. “We are pleased with the results to date, which underscore the value of a disciplined and consistent exploration approach. Our immediate focus now is advancing evaluation plans to define the discovery’s full potential.”

The Bubale-1X well is the third and final well in Murphy’s current three-well exploration campaign in Côte d’Ivoire. Following these results, Murphy will move into the next phase of evaluation, with one well planned for the second half of 2026 to test the extent of the discovery.

The Bubale-1X well was spud in late February 2026 by Murphy CI-709 Oil Co., Ltd., a subsidiary of Murphy Oil Corporation and operator of Block CI-709. Murphy holds a 90 percent working interest in the block, with Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire (PETROCI) holding the remaining 10 percent.

About Murphy Oil Corporation

Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy’s foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company’s current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d’Ivoire.