Murphy Oil Corp.
Description
Closed the previously announced strategic deep water Gulf of Mexico joint venture with Petrobras America Inc., a subsidiary of Petrobras for net cash consideration of approximately $795 million. The transaction has an effective date of October 1, 2018.
Murphy’s net cash consideration, after adjustments provided for in the contract, of approximately $795 million is funded by $470 million of cash-on-hand with the remaining $325 million being drawn on the company’s new senior credit facility.