Murphy Oil raises Q4 2013 production outlook, lowers FY 2014

Murphy Oil (MUR) increases its Q4 production guidance to 205K boe/day from 199M boe/day due to a further shift of the shut-in work on the Kikeh FPSO for the tie of the new Siakap North-Petai field offshore Malaysia until later this month; the revised tie-in schedule is due to weather and execution delays experienced in Q4 2013.

The shift in the tie-in work into 2014 along with Kikeh-related mechanical repairs is expected to reduce 2014 production to 235K-240K boe/day vs. earlier guidance of 240K-245K.

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