Murphy Oil Corporation (NYSE: MUR) today announced the execution of two production sharing contracts covering the C-10 and Tiof blocks offshore Mauritania.

The blocks cover approximately 3.1 million acres. Murphy, through its subsidiaries, will hold a 90 percent working interest and serve as operator, with Société Mauritanienne des Hydrocarbures (SMH) holding the remaining 10 percent carried working interest.

Murphy and SMH will now work together to further evaluate the exploration potential of the two blocks.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.