U.S. independent Murphy Oil Corp. is advancing plans to drill in waters on the Mexican side of the Gulf of Mexico (GOM) next year.

Salina Basin

Management said earlier this month the company is progressing permitting and regulatory approvals to drill at the Tulum prospect in Block 5 of the Salina Basin. CEO RogerJenkins said during Murphy’s 2Q2021 earnings call that the company is optimistic on Block 5 following recent discoveries nearby. 

“It has a series of subsalt opportunities that are larger, very nice and on a trend of success,” Jenkins said of the Tulum prospect, which was previously named Linares. Block 5, which Murphy operates with a 40% interest, is estimated to have a resource potential of 800 million-2 billion bbl of oil.

The company is pursuing an appraisal program for