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Murphy Oil, Petrobras Finalize Deepwater GOM JV
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Murphy Oil has finalized its strategic deep water Gulf of Mexico joint venture with Petrobras for adjusted cash consideration of approximately $795 million (down from $900 million). The deal was first struck back in mid-October 2018.
Click here to access the deal in Shale Experts' M&A Database
Under the terms of the transaction, both companies contributed all their current producing Gulf of Mexico assets to the joint venture company, MP Gulf of Mexico, LLC (MPGOM).
MPGOM will be owned 80% by Murphy and 20% by Petrobras, with Murphy overseeing the operations.
In other recent deal news for Murphy, a report by Reuters unveiled that the company is currently in talks to potentially sell its entire Malaysian portfolio for up to $3.0 billion.
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