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    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.
    (Courtesy Cosco Shipping)
    The King’s Quay FPS is expected to be transported from the HHI yard in South Korea to the Gulf of Mexico onboard the semisubmersible vessel Xiang He Kou.
    The King’s Quay FPS is expected to be transported from the HHI yard in South Korea to the Gulf of Mexico onboard the semisubmersible vessel Xiang He Kou.

    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