Murphy Energy granted court approval of $58.3 million in asset sales

By Caroline Salls

Pittsburgh, Dec. 19 – Murphy Energy Corp. received court approval to sell substantially all of its assets for a total of $58.3 million, according to an order filed Monday with the U.S. Bankruptcy Court for the Northern District of Texas.

Specifically, Murphy received approval to sell its Port Hudson terminal to NGL Supply Terminal Co., LLC for $33.1 million, its Port Allen terminal to BioUrja Trading, LLC for $5.6 million, its Kingfisher facility to NGL for $16.6 million and its crude terminals to Tauber Oil Co. for $3 million.

Murphy Energy is a Tulsa, Okla.-based privately owned integrated midstream provider of transportation, storage and marketing services for crude oil, natural gas liquids and condensates. The company filed bankruptcy on Oct. 5 under Chapter 11 case number 16-33971.

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