Muphy Oil acquires deepwater GOM assets from LLOG for $1.375 billion

Murphy Oil Corporation has announced that its wholly owned subsidiary, Murphy Exploration and Production Company – USA, has entered into a definitive agreement to acquire deepwater Gulf of Mexico assets from LLOG Exploration Offshore, L.L.C. and LLOG Bluewater Holdings, L.L.C. The accretive, cash flow providing Gulf of Mexico assets currently produce approximately 38,000 boepd and are expected to add approximately 66 MMboe of Proven (1P) reserves and 122 MMboe of Proven and Probable (2P) reserves1. More »