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Murphy acquires LLOG and Blackstone deepwater GoM JV for US$1.4 billion

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24 April 2019

Murphy acquires LLOG and Blackstone deepwater GoM JV for US$1.4 billion

Report summary

Murphy Oil is to acquire several deepwater Gulf of Mexico assets from LLOG Exploration for US$1.4 billion. Most of the interest in the acquired assets are owned by LLOG Bluewater, a JV between LLOG Exploration and Blackstone. The transaction is part of Murphy's aggressive plan to expand its footprint in GoM. The company acquired a majority of Petrobras's GoM portfolio last year on top of starting a robust exploration and appraisal campaign. The company becomes the 8th highest producer in GoM.

Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 11 images and tables including:

  • Executive summary: Table 1
  • Murphy's key GoM assets post-transaction
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Deal analysis: Table 4
  • Murphy Exploration GoM production and capex profile
  • LLOG Exploration remaining reserves by Play
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    Murphy acquires LLOG and Blackstone deepwater GoM JV for US$1.4 billion

    PDF 3.16 MB

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