Murphy Oil Company Ltd. purchased 41,742 acres of land (65.2 sections) to add to its Tupper play in British Columbia. The Arkansas company plans to drill more than 30 wells and spend about $240 million this year on this new acquisition. The first acquisition Murphy Oil made in this area was in June 2007. They began drilling in November and aim to have first production in the fourth quarter 2008, ramping up to 120 mmcf per day.
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