Murphy Oil's $1.375-billion-plus purchase of a range of key assets from Llog Exploration and Llog Bluewater Holdings is intended to help consolidate the US independent as a major player in the US Gulf of Mexico.
Following other transactions to sell off Malaysia assets for $2.1 billion and a $900 million buy into a US Gulf joint venture with state-controlled Brazilian giant Petrobras, Murphy told investors that it now sees value to be created for shareholders in a region that it almost exited for good after the oil price crash.
