Murphy Oil Corporation is an international oil and natural gas exploration and production company. Headquartered in El Dorado, in the state of Arkansas, Murphy Oil operates in Australia, Southeast Asia, and the Gulf of Mexico. In the Mexican portion of the Gulf, the company operates through a joint venture with PC Carigali Mexico Operations S.A de C.V. (a subsidiary of Malaysia' Petronas), Ophir Energy, and Sierra Offshore Exploration. With a 30% interest, its subsidiary Murphy Sur S. de R.L. de C.V. is the operator of deepwater block 5, an area covering 640,000 acres with depths between 700m and 1,100m. The JV is currently reviewing seismic data while advancing with the permitting requirements. Murphy Oil Corporation was incorporated in 1950.