Murphy Oil To Buy BW Pioneer Floating Production Storage & Offloading Vessel From BW Offshore

(RTTNews) - Murphy Oil Corp. (MUR) announced that it agreed to acquire the BW Pioneer floating production storage and offloading vessel or 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 are met, which is expected by the end of second quarter 2025.

In addition, Murphy reaffirmed its 2025 capital expenditure (CAPEX) guidance range of $1.135 billion to $1.285 billion, with first quarter CAPEX reaffirmed at $425 million.