Murphy Oil Corporation today announced its intention to offer $500 million of senior unsecured notes due 2034 under its existing shelf registration statement with the SEC. The company plans to use the net proceeds to redeem in full its outstanding 5.875% notes due 2027 and its 6.375% notes due 2028. By refinancing these obligations, Murphy Oil expects to extend its debt maturity profile and reduce annual interest expense. The offering remains subject to market conditions, customary closing requirements and final documentation.

Murphy Oil’s subsidiary successfully drilled the Hai Su Vang-2X appraisal well in Block 15-2/17, approximately 40 miles offshore Vietnam, spudding in October 2025. The well encountered 429 feet of net oil pay—332 feet in the deeper primary reservoir and 97 feet in the shallow zone—surpassing the 370 feet encountered in the 2025 discovery well. Flow testing of the primary reservoir delivered 6,000 barrels of 37° API oil per day, with the hydrocarbon column extended to 1,600 feet without water contact. These results support reservoir continuity and elevate the updated midpoint of recoverable resources above the high end of the previously guided 170–430 million barrels of oil equivalent range. Additional appraisal wells (HSV-3X and HSV-4X) are planned under the reaffirmed 2026 CAPEX guidance of $1.1–$1.3 billion to further delineate the field.