Deals - Acquisition, Mergers, Divestitures
GOM Operator Enters the Permian; Acquires 40,000 Acres
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Murhpy Oil disclosed during its third quarter earnings call, that the company entered the Permian Basin.
Midland Basin – During the third quarter, Murphy was the high bidder on two tracts in the University Lands Lease Sale 128, at a 75 percent working interest with a private partner. These tracts are located in Andrews and Gaines Counties, Texas, in the Northern Midland Basin. Over the past several quarters, Murphy organically leased approximately 22,000 acres at 100 percent working interest in the adjacent Dawson County. Currently, the company has leased a total of approximately 30,800 net acres at an average cost of $1,700 per acre. The acreage position is prospective in the Spraberry and Wolfcamp benches, as demonstrated by recent offset peer company well tests.
In the third quarter…
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