Murphy Oil buying deepwater GoM fields from LLOG for over $1.37 billion

Murphy Oil Corporation has entered into a definitive agreement to acquire deepwater Gulf of Mexico assets from LLOG for $1.37 billion.

Murphy said on Tuesday that accretive, cash flow providing Gulf of Mexico assets being acquired currently produce approximately 38,000 barrels of oil equivalent per day net (Boepd) and are expected to add approximately 66 million barrels of oil equivalent net (Mmboe) of Proven (1P) reserves and 122 Mmboe of Proven and Probable (2P) reserves to the company.

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