Murphy Oil gains on FPSO purchase and sale agreement with BW Offshore

Bw Offshore

12/03/2025 21:20

** Shares of U.S.-based oil and gas producer Murphy Oil MUR.N rise 2.3% to $25.70 in extended trading

** Company's subsidiary signs purchase and sale agreement to acquire the BW Pioneer floating production storage and offloading vessel (FPSO) from BW Offshore BWO.OL

** Purchase price of $125 million includes an initial payment of about $100 million upon delivery by the end of Q1

** "By acquiring the FPSO and restructuring our contract, we will achieve a material reduction in operating costs of nearly $60 million annually," said CEO Eric M Hambly

** MUR reaffirms 2025 capital expenditure (CAPEX) forecast range of $1,135 million to $1,285 million, reaffirms Q1 CAPEX of $425 million

** As of the last close, stock down 17% YTD

 (Reporting by Pooja Menon in Bengaluru)

 ((Pooja.Menon@thomsonreuters.com))