Blake Newland (17), from the local area, was fatally stabbed on Friday evening.
A second man aged in his 50s was also injured.
Police had been responding to reports that the older male had been stabbed when they discovered Mr Newland seriously wounded.
He was taken to hospital but died from his injuries.
Six males remain custody at this time in connection to the incident which happened near the Woodland Walk area on Friday night.
In a new statement on Sunday afternoon, the PSNI said they had been granted a further 36 hours to question four of the men.
Family members paid tribute to Mr Newland on social media.
His grandfather Henry McElwee posted on Facebook: “A life taken too soon. love Grandad Henry … you will always be in my heart as well as many others’ too”.
The PSNI issued a new appeal for information on Saturday afternoon.
Detective Chief Inspector Mark Gibson said: “Police received a report at around 9.35pm last night, Friday 2nd February, that a man in his 50s had been stabbed. Officers attended and while carrying out enquiries they located Blake who was also seriously injured with stab wounds in a nearby house.
“Blake was taken to hospital where he subsequently died from his injuries.
“The second injured man was taken to hospital, where he remains for treatment to injuries which are not believed to be life threatening at this time.
“Six males have now been arrested and are currently in police custody assisting with enquiries.”
Mr Gibson continued: “We are at an early stage of this murder investigation and officers remain in the area conducting enquiries.
“We are appealing to witnesses or anyone with information to contact detectives on 101 quoting 1924 02/02/24. Information can also be provided to the independent charity Crimestoppers on 0800 555 111.”
East Derry Sinn Féin MLA Caoimhe Archibald appealed to people to assist the police investigation.
She said: “I extend my sympathies to the family and friends of the teenage boy.
“This attack has shocked the local community and I am sure the community will support his family.
“I would appeal to anyone with information about this stabbing should bring it forward to the police immediately.”
Local SDLP councillor Ashleen Schenning said the community was in shock.
“This is a quiet and close-knit community where nobody expects something like this to happen on their doorstep,” she said.
“My thoughts are with the family and friends of the teenager who was killed as a result of this incident.
“A young life being cut so short is utterly tragic and I can only imagine what they are dealing with today.”
The scene, near a housing development, remained sealed off on Saturday afternoon.
Forensic markers had been placed near the cordon at Woodland Walk.
The Northern Ireland Ambulance Service said it received a 999 call at 9.40pm on Friday evening and four emergency crews, two rapid response paramedics and an ambulance officer were sent.
William Turner is a seasoned U.K. correspondent with a deep understanding of domestic affairs. With a passion for British politics and culture, he provides insightful analysis and comprehensive coverage of events within the United Kingdom.