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Murphy Oil Corporation Announces Strategic Acquisition of Floating Production Storage and Offloading Vessel in Gulf of America

1. Murphy Oil Corp is acquiring BW Pioneer FPSO for $125 million. 2. Initial payment of $100 million due upon delivery by Q1 2025.

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$25.1303/12 04:48 PM EDTEvent Start
$24.8803/13 11:13 PM EDTLatest Updated
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FAQ

Why Bullish?

This acquisition might enhance MUR's production capabilities, similar to past successful expansions that positively affected stock performance.

How important is it?

The acquisition indicates MUR's growth strategy, appealing to investors focused on future value creation.

Why Long Term?

The strategic acquisition positions MUR for future revenue growth, which typically takes time to reflect in stock price.

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HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced that a subsidiary has signed a Purchase and Sale Agreement to acquire the BW Pioneer floating production storage and offloading vessel (FPSO) from BW Offshore. The gross purchase price is $125 million, subject to customary closing adjustments, and includes an initial approximate $100 million payment upon delivery by the end of first quarter 2025. The remaining balance will be due when certain contractual obligations ar.

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