Deal Insight
Murphy and Petrobras form deepwater GoM JV
Report summary
Murphy Oil and Petrobras America have agreed to form a strategic joint venture in the Gulf of Mexico (GoM). The joint venture will involve both companies' producing assets; Murphy will hold an 80% interest and become operator of all the fields, while Petrobras will hold the remaining 20% interest. Murphy will pay a cash consideration of US$900 million with a further US$200 million (nominal) of possible contingent payments and cost carries. Through the transaction, Murphy is increasing its position in the Gulf of Mexico, while Petrobras is making a soft exit.
Table of contents
- Executive summary
- Transaction details
-
Upstream assets
- Petrobras' portfolio (pre-JV transaction)
- Murphy's portfolio (pre-JV transaction)
- Deal analysis
-
Upsides and risks
- Upside
- Downside risk
-
Strategic rationale
- Murphy - mechanism for sustained portfolio growth
- Petrobras - reduction of capital commitments
- Oil & gas pricing and assumptions
Tables and charts
This report includes 6 images and tables including:
- Murphy entitlement production and cash flow
- Petrobras and Murphy asset map
- Deal analysis: Table 1
- Oil & gas pricing and assumptions: Table 1
- Oil & gas pricing and assumptions: Table 2
- Upstream assets: Table 1
What's included
This report contains:
Other reports you may be interested in
Insight
US upstream in brief: Banks watching Uinta wax
The US week in brief highlights the need-to-know current events from US upstream. Stories are supplemented with proprietary WoodMac views.
$1,350
Asset Report
Wolf zinc mine project
A detailed analysis of the Wolf zinc mine project.
$2,250
Asset Report
Hoyle Pond (to 2002) (Closed) gold mine
A detailed analysis of the Hoyle Pond (to 2002) (Closed) gold mine.
$2,250
