Murphy to lead group for Mexico deepwater oil

Murphy Oil Corp., Petroliam Nasional Bhd. and Sierra Oil & Gas are in talks to form a group that would bid jointly for the first opportunity in more than seven decades to independently operate offshore fields in Mexico’s deep Gulf waters.

The three producers are in the process of signing a joint study and bid agreement, a step to form a consortium for Mexico’s sale of deepwater leases on Dec. 5.

Source: Bloomberg