Murphy Oil Expands Operations with $125M Vessel Purchase: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 13 2025
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Source: Benzinga
Acquisition Details: Murphy Oil Corporation announced the acquisition of a floating production storage and offloading vessel (FPSO) from BW Offshore for $125 million, with payments structured over 2025. The FPSO will support operations in the Gulf of America while BW Offshore continues maintenance under a five-year contract.
Financial Outlook: Murphy reaffirmed its capital expenditure guidance for 2025 at $1.135 billion–$1.285 billion, while reporting lower-than-expected fourth-quarter revenue and earnings. The company aims to reduce operating costs by $60 million annually through this acquisition, enhancing future development and reserves.
Analyst Views on CCNR
Wall Street analysts forecast CCNR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CCNR is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
