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Murphy Oil Corporation (NYSE:MUR) announced today that its wholly owned subsidiary, Murphy Oil Company Ltd., has entered into an agreement with Kainaiwa Resources Inc., a corporation wholly-owned by the Blood Tribe First Nation to acquire 202 sections of prospective oil and gas properties located within the Blood Tribe Reserve in southern Alberta.
Murphy Oil Corporation (NYSE:MUR) announced today that its wholly owned subsidiary, Murphy Oil Company Ltd., has entered into an agreement with Kainaiwa Resources Inc., a corporation wholly-owned by the Blood Tribe First Nation to acquire 202 sections of prospective oil and gas properties located within the Blood Tribe Reserve in southern Alberta.
The press release is quoted as saying:
The lease agreement will give Murphy drilling rights on the property for 5 years with a minimum of 16 wells to be drilled during this time.
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