Murphy Oil Corporation announced that a subsidiary signed a Purchase and Sale Agreement to acquire the BW Pioneer floating production storage and offloading (FPSO) vessel from BW Offshore for a gross purchase price of $125 million.
The acquisition is expected to reduce annual net operating expenses by approximately $60 million, with an estimated payback period of about two years. It is also projected to increase net proved developed reserves by approximately 8 million barrels of oil equivalent.
The FPSO will remain at its current location, supporting operations at the Cascade and Chinook fields in the Gulf of America. Murphy Oil reaffirmed its 2025 capital expenditure guidance range of $1,135 million to $1,285 million, which includes the purchase price of the FPSO.
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