Murphy buys seven producing fields, four development projects from LLOG
By Richard Rostad, analyst, Oil & Gas 360

Murphy Oil (ticker: MUR) continues to consolidate its position in the Gulf of Mexico, as the company acquired a major asset in the GOM today.

Murphy will acquire 26 different GOM blocks from privately-held LLOG, representing a range of assets. These 26 blocks include seven producing fields, plus four development projects targeting five different fields.

The assets are currently producing 38 MBOEPD, though Murphy expects they will produce an average of 33.5 MMBOEPD in 2019. The properties have 66 MMBOE of associated 1P reserves, 122 MMBOE of net 2P reserves. The transaction is a significant boost to Murphy’s GOM...

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