One-Page Deal Sheet
Murphy to Sell CAM Pipeline System to Undisclosed Buyer
Not Disclosed Murphy Oil Corp
Announced Date
February 03,2016
Transaction Type
Asset
Transaction Details: Subscribe to see
Murphy USA Inc. has recently entered into an agreement with an undisclosed investment-grade buyer for the sale of the CAM pipeline system for approximately $85 million, less customary closing costs.
The CAM pipeline transports crude oil from the Louisiana Offshore Oil Port (LOOP) to three Gulf Coast refineries, including the Meraux refinery, formerly owned by Murphy Oil Corporation. This transaction is expected to close sometime in the first half of 2016, subject to customary closing conditions, including regulatory approvals.
President and CEO Andrew Clyde commented, "The strategic value of…
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