Murphy Oil Corp. planned to complete work on the Munia exploration well as part of its Perth Basin drilling program in Block WA-481-P offshore Western Australia next month after failling to find hydrocarbons at two other prospects in the permit, the company said Monday.
"This (Munia) well will be finished in April. Depending on the outcome, the cost attributed to this well in the first quarter of 2015 is expected to be approximately $9 million," Murphy added.
Two exploration wells -- Koel and Cisticola -- that were drilled earlier by the Atwood Falcon (DW semisub) have been plugged and abandoned.
Murphy has indicated it will take a dry hole expense of around $23 million in the first quarter of 2015 for these two wells.
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