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Ophir Energy announces the sale of Block 5, Mexico, including the Cholula oil discovery, to Murphy, Petronas and Wintershall

Offshore Mexico

17 May 2019

Stellar Energy Advisors is pleased to announce the signature of an agreement between Ophir Mexico Offshore Exploration, S.A. de C.V. ("Ophir") and Murphy Sur, S. de R.L. de C.V. ("Murphy"), PC Carigali Mexico Operations, S.A. de C.V. ("Petronas") and Sierra Offshore Exploration, S. de R.L. de C.V. ("Wintershall Dea") with respect to the sale of its 23.33% Participating Interest in Block 5 (Cuenca Salina), offshore Mexico, for a cash consideration of USD 35 million. Block 5 includes the Cholula discovery. Stellar was the sole advisor to Ophir for the divestment process.

Stellar has a long history of successful advisory mandates and our team is well equipped to provide advisory services for any mandate. In the case of Mexico, Stellar's extensive network and market knowledge resulted in a highly competitive sales process. Stellar is very pleased to have been able to assist Ophir in progressing its strategy of minimising its exposure to exploration.

For the full press release please see:

Stellar acted as advisor to Ophir Energy for the transaction.