Murphy Oil Corp. advised it was increasing its capex guidance for FY17 by about $50 million to $940 million. The raise comes as a result of the acquisition of the Clipper field in the Gulf of Mexico and the company’s entry into the Midland Basin, where it is testing Lower Spraberry and Wolfcamp B zones, and into four exploration blocks in the Sergipe-Alagoas Basin offshore Brazil. Q4 production is estimated to come in at......
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