Murphy Oil reports Bubale-1X offshore find, shares react on NYSE trade

By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-23, 22:44.

Murphy Oil (US6267551025) has detailed a new oil discovery at its Bubale-1X exploration well offshore Côte d’Ivoire. The NYSE-listed producer reports high-quality light oil in two reservoirs at the deepwater prospect, according to a June 22 update and subsequent sector coverage.

What the Bubale-1X find shows

On June 22, 2026 Murphy Oil announced that the Bubale-1X exploration well in Block CI-709, around 40 miles offshore Côte d’Ivoire, encountered net oil pay of about 100 feet across two distinct reservoirs, with initial analysis indicating high-quality light oil, as summarized by a GuruFocus report on the discovery. The well reached a measured depth of 20,548 feet while drilling in roughly 7,795 feet of water, underscoring the technical complexity of the deepwater project.

The Bubale-1X result concludes Murphy Oil’s current exploration drilling campaign in Côte d’Ivoire, with the company planning further evaluation work and at least one additional well in the area later in 2026, according to the same analysis. The discovery adds a new West Africa light-oil opportunity to Murphy’s portfolio alongside its North American assets.

How the shares trade in New York

Murphy Oil shares trade on the NYSE under the ticker MUR alongside integrated peers such as ExxonMobil and Chevron. Intraday data from June 23 show the stock changing hands around the mid-30 dollar range, with one price snapshot citing 36.07 dollars and a move of nearly 5 percent on the day, according to a consolidated quote overview on FinancialData’s MUR profile.

A separate real-time quote feed lists Murphy Oil at about 34.84 dollars on June 23, with an intraday high of 35.82 dollars and a low of 34.58 dollars, implying modest volatility in the session and a market capitalization close to 5 billion dollars, according to trading data summarized on Robinhood’s MUR stock page. At that level, the dividend yield screens near the 4 percent mark, while the reported price-earnings multiple around the high-50s stands clearly above many traditional oil and gas producers.

The business behind the ticker

Murphy Oil generates its revenue primarily from upstream exploration and production of crude oil, natural gas and natural gas liquids in North America and selected international basins. Assets include fields in the Gulf of Mexico, onshore operations in the Eagle Ford and Tupper Montney, and exploration interests offshore West Africa, as reflected in recent coverage of the Bubale-1X program.

Where the stock trades today

The Murphy Oil shares (US6267551025) trade on 2026-06-23 at approximately 34.84 US dollars on the NYSE, based on intraday quote data at around 20:30 UTC.

This article is for informational purposes only and does not constitute investment advice, investment recommendation or an offer or solicitation to buy or sell any financial instrument. Investors should conduct their own research and, where appropriate, consult a licensed financial advisor.