EQNR - Exxon and Murphy miss the mark with Cutthroat prospect in Brazil

Murphy (MUR) posted in an investor presentation last week that the Company's cutthroat prospect in Brazil could hold up to 1b barrels of oil; Monday it was reported that the Exxon-drilled (XOM) prospect "failed to verify the presence of hydrocarbons" according to Offshore. Exxon (XOM) is the operator of the block and holds a 50% interest; Murphy (MUR) holds a 20% stake in the block. The Seadrill (OTCPK:SDRLF) ship is under contract with Exxon (XOM) until April, and will be sent to drill in an Equinor-operated (EQNR) block in coming weeks.

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Exxon and Murphy miss the mark with Cutthroat prospect in Brazil