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One-Page Deal Sheet

Murphy, Petrobas Join Forces for Deepwater GOM JV

Murphy Oil Corp Petrobras
AnnouncedOct 11, 2018
TypeJV
LocationGulf Of Mexico (GOM)
Announced Date
October 11,2018
Effective Date
October 01,2018
Close Date
December 03,2018
Transaction Type
JV
Enterprise Value (EV)($MM)
795




Snapshot
Asset/Basin:
{"Gulf of Mexico"}
% Oil:
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Proved Reserves
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Location
Region
Gulf of Mexico

Country
United States

Play
Gulf Of Mexico (GOM)


Production & Reserves
Production
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Production Mix
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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Transaction Details:  Subscribe to see

Murphy Oil and Petrobras have formed a new JV focused on the deepwater GOM.

Murphy will pay cash consideration of $795 million to PAI (adjusted at closing from $1.1 billion originally planned).

This deal closed on December 3, 2018.

Highlights: Adds approximately 41,000 net BOEPD to Murphy's Gulf of Mexico production, of which 97% is oil Adds approximately 60 MMBOE of Proven (1P) reserves and 86 MMBOE of Proven and Probable (2P) reserves, of which 97% is oil

The joint venture company will be comprised of Gulf of Mexico producing assets from Murphy and PAI with Murphy overseeing the…


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Other Gulf of Mexico Region's Deals


Announced DateBuyerSellerDeal Value($mm)LocationCategory
Jan-15-2024 - - Click here Louisiana  E&P
Sep-22-2022 - - Click here   E&P
May-25-2022 - - Click here   E&P
Apr-05-2022 - - Click here Gulf of Mexico  E&P
Jan-10-2022 - - Click here   E&P

Price History


Date Deal Headline Price$/acre
Jan-15-2024 Talos Acquires QuarterNorth Energy For $1.2 Billion - -
Sep-22-2022 Talos to Acquire GOM-Focused EnVen Energy for $1.1 Billion Cash/Stock - -
Jan-10-2022 W&T Acquires GOM Assets, Operatorship for $30.2MM in Cash - -