Getting an Early Read on Murphy's Quarterly Eagle Ford Results 

The chart below generated using the DISCERN Energy Platform shows Murphy's Eagle Ford completions improving dramatically through much of 2015.  This is based on initial 24-hour oil rates and suggests that more recent data could give a read on first quarter 2016 results in the region.

Figure 1: MUR Eagle Ford completions have improved ~50% since bottoming in 2Q15.

Sources: TX RRC, DISCERN

Sources: TX RRC, DISCERN

Average initial oil rates rose approximately 50% from 350 bpd in 2Q2015 ~500 bpd by the end of the year.  The platform typically gives good visibility to quarterly results prior to the company press release as shown in Table 1 (below). On average, we see data for about 70% of the wells tested in the quarter before the company reports results for that period. The preliminary average of oil test rates has been close to the average based on the final well count for the quarter.

These data sets appear to reinforce the positive commentary on well results reported by management in presentations and earnings releases, but adding the perspective that the trends are broadly felt and not influenced by cherry-picking. In addition, the visibility to quarterly results prior to management discussion can be useful to investors seeking key investment insights.

Please contact us below if you are interested in learning what we currently see on the DISCERN Energy platform for MUR's first quarter 2016 results.

Table 1: The pre-quarter wellcount samples ~70% of the wells in a quarter, and gives good predictability of avg IP oil in the quarter prior to the earnings release.

Sources: TX RRC, DISCERN

Sources: TX RRC, DISCERN

Fill out the form below to receive what we currently see on the DISCERN Energy platform for MUR's first quarter 2016 results.

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