Murphy Oil’s closely-watched Cholula-1 oil discovery off Mexico is much smaller than the US independent had hoped for.
Murphy was carrying a mean pre-drill resource potential of 220 million barrels of oil equivalent for the Cholula prospect in Block 5.
However, Upstream understands the deep-water probe, which was targeting a new play, found far less resource than the Arkansas-based operator wanted, which is way short of the size needed to justify a commercial project.
