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The explorer has so far encountered 400 ft of reservoir pay zone in an area where it has three other producing fields. Murphy Oil to Buy Deepwater US Gulf Assets for up to $1.625 Billion The El Dorado, Arkansas-based Murphy has quickly found a home for some of the cash it will receive from the sale of its Malaysia business. The company has been rapidly expanding its US gulf footprint while simplifying its portfolio and targeting more oil. Yellowtail-1 is the fifth discovery in the Turbot area, where ExxonMobil plans another Stabroek Block development hub. With the purchase, the growing, privately-held Chrysaor Holdings will expand its UK North Sea production to 185,000 BOE/D.

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