4 Firms Shape Murphy Oil's $1.4B Deep-Water Asset Buy

By Chelsea Naso (April 23, 2019, 3:19 PM EDT) -- Murphy Oil continued reshaping its portfolio Tuesday with a $1.375 billion acquisition of the deep-water Gulf of Mexico assets of two LLOG subsidiaries in a deal shaped by Baker Botts, Jones Walker, Gieger Laborde and Kirkland.

Arkansas-based Murphy Oil Corp., led by Baker Botts LLP, said its subsidiary Murphy Exploration & Production Co.-USA will buy the deep-water assets — which produce roughly 38,000 net barrels of oil equivalent per day — from LLOG Exploration Offshore LLC and LLOG Bluewater Holdings LLC, advised by Jones Walker LLP, Gieger Laborde & Laperouse LLC and Kirkland & Ellis LLP.

The acquisition is part of...

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