Murphy Oil to acquire Gulf of Mexico assets from LLOG Exploration for $1.375 billion in cash [MarketWatch]
Murphy Oil Corporation (MUR)
Last murphy oil corporation earnings: 1/30 06:00 am
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Source: MarketWatch
Murphy Oil to acquire Gulf of Mexico assets from LLOG Exploration for $1.375 billion in cash Murphy Oil Corp. MUR, +4.68% said Tuesday it has reached a deal to acquire deep water Gulf of Mexico assets from LLOG Exploration Offshore LLC and LLOG Bluewater Holdings LLC for $1.375 billion in cash. The deal will immediately boost earnings and add 32,000 to 35,000 of net barrels of oil equivalent per day on an annualized basis for full year 2019 to Murphy's Gulf of Mexico production. "We expect these newly acquired assets to generate meaningful cash flow over the next several years that will provide us with additional flexibility for future capital allocation," Chief Executive Roger W. Jenkins said in a statement. Murphy Oil shares were not yet active premarket, but have fallen 6.4% in the last 12 months, while the S&P 500 SPX, +0.10% has gained 8.9%. Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
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News
- Why Murphy Oil (MUR) is a Top Momentum Stock for the Long-Term [Yahoo! Finance]Yahoo! Finance
- A new business is coming to property where a Midlands Wells Fargo bank was. What to know [Yahoo! Finance]Yahoo! Finance
- Murphy Oil Co. (NYSE: MUR) had its price target raised by analysts at KeyCorp from $50.00 to $54.00. They now have an "overweight" rating on the stock.MarketBeat
- Murphy Oil Co. (NYSE: MUR) had its price target raised by analysts at Piper Sandler from $49.00 to $55.00. They now have an "overweight" rating on the stock.MarketBeat
- Murphy Oil Co. (NYSE: MUR) had its price target raised by analysts at Mizuho from $53.00 to $55.00. They now have a "buy" rating on the stock.MarketBeat
MUR
Earnings
- 1/25/24 - Miss
MUR
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 3/21/24 - Form ARS
- MUR's page on the SEC website