Murphy Oil Corporation’s stock (MUR) surged by 14.61% from January 7 to January 14, 2026, making it one of the top-performing Energy Stocks for the week. The company confirmed a major oil discovery in the Cuu Long Basin offshore Vietnam, with significant net oil pay in primary and shallow reservoirs.

Following the successful drilling of the Hai Su Vang-2X appraisal well in Vietnam, Murphy Oil Corporation (MUR) saw increased investor attention. The well encountered 332 feet of net oil pay in the primary reservoir and 97 feet in the shallow reservoir, with a production rate of 6,000 barrels of oil per day. The company plans to drill two more wells for further resource estimation.

Murphy Oil’s CEO, Eric Hambly, expressed pride in the Hai Su Vang discovery, highlighting a pivotal moment for the company’s Vietnam business. The successful appraisal sets the stage for a robust development program in collaboration with partners and the Vietnamese Government. The company aims to unlock the full potential of the asset.

Roth Capital and Barclays analysts maintained ratings on Murphy Oil Corporation (MUR) following the Hai Su Vang appraisal, with price targets of $25 and $29, respectively. While acknowledging MUR’s potential, some analysts suggest looking into AI stocks for greater upside potential and less downside risk.

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Read more at Yahoo Finance: Murphy Oil (MUR) Gains Following Significant Oil Discovery Offshore Vietnam