Murphy Oil (MUR) Gains Following Significant Oil Discovery Offshore Vietnam

The share price of Murphy Oil Corporation (NYSE:MUR) surged by 14.61% between January 7 and January 14, 2026, putting it among the Energy Stocks that Gained the Most This Week.

Murphy Oil Corporation (NYSE:MUR) is a global independent oil and natural gas exploration and production company.

Murphy Oil Corporation (NYSE:MUR) received significant investor attention after the company reported on January 7 that it had successfully drilled the Hai Su Vang-2X (HSV-2X) appraisal well offshore Vietnam, confirming a major oil discovery in the Cuu Long Basin. The well encountered 332 feet of net oil pay in the deeper primary reservoir and 97 feet of net oil pay in the shallow reservoir. During flow testing, the primary reservoir achieved a production rate of 6,000 barrels of oil per day, allowing Murphy to increase the midpoint of recoverable resources for the primary reservoir towards the high end of the previous range of 170 to 430 million barrels of oil equivalent (mmboe), while the high end now exceeds 430 mmboe. The company now plans to continue its appraisal campaign with two additional wells to further refine the range of recoverable resources for both reservoirs.

Eric Hambly, President and CEO of Murphy Oil Corporation (NYSE:MUR), commented:

“This is a pivotal moment for our Vietnam business. The success of HSV-2X not only reinforces the commerciality of the Hai Su Vang field but also sets the stage for a robust development program. We are proud of our team’s execution and remain committed to working closely with our partners and the Vietnamese Government to unlock the full potential of this asset.”

Following the ‘successful’ Hai Su Vang appraisal in Vietnam, Roth Capital analyst Leo Mariani reiterated the firm’s ‘Neutral’ rating on Murphy Oil Corporation (NYSE:MUR) on January 7, while assigning the stock a price target of $25. On the same day, Barclays also raised its price target on MUR from $26 to $29, while maintaining an ‘Underweight’ rating on the shares.

While we acknowledge the potential of MUR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 High Yield Crude Oil Stocks to Buy After Trump’s Blitz in Venezuela and 11 Best Performing Energy Stocks in 2025.

Disclosure: None.