Murphy Oil made its entry into the Midland Basin in Q3 when it was the high bidder in two University Land lease sales, acquiring an operated 75% WI with a private partner on acreage located in Andrews County and Gaines County, TX. Over the past several quarters, Murphy has organically leased 22,000 acres at 100% WI in adjacent Dawson County. The company paid an average of $1,700/acre implying a total cost of $52.4 million.Murphy......
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