ArcLight Capital Partners completed the acquisition of a 50% stake in King’s Quay floating production system from Murphy Oil.

ArcLight Capital Partners, an energy infrastructure firm, completed its acquisition of a 50% interest in King’s Quay floating production system, integrated oil & gas, from Murphy Oil, an independent oil and natural gas exploration and production firm. Financial terms were not disclosed. "By utilizing the King’s Quay FPS transaction proceeds to repay our revolver borrowings, along with our recent bond issuance to extend our debt maturity profile, Murphy has a well-positioned balance sheet with ample liquidity as we enter the execution phase of this key project," Roger W. Jenkins, Murphy Oil President and CEO.