Murphy completes King’s Quay FPS transaction

March 18, 2021
Murphy Exploration & Production Co. – USA has sold its 50% interest in the King’s Quay FPS and associated laterals to a fund managed by ArcLight Capital Partners LLC.

Offshore staff

HOUSTON – Murphy Exploration & Production Company – USA has sold its 50% interest in the King’s Quay FPS and associated export lateral pipelines to a fund managed by ArcLight Capital Partners LLC.

The King’s Quay FPS and associated laterals will be co-owned in a joint venture with entities managed by Ridgewood Energy Corp., including ILX Holdings III, LLC.

This transaction reimburses Murphy’s past capex of about $270 million.

According to the company, the King’s Quay FPS is more than 90% built and is scheduled to go into service in mid-2022.

The King’s Quay FPS is designed to process 80,000 b/d of oil and 100 MMcf/d of gas, and will handle the anticipated production from the Khaleesi / Mormont and Samurai fields in the US Gulf of Mexico.

03/18/2021