Note P  Acquisitions LLOG Acquisition : In June 2019, the Company announced the completion of a transaction with LLOG Exploration Offshore L.L.C. and LLOG Bluewater Holdings, L.L.C., (LLOG) which was effective January 1, 2019. Through this transaction, Murphy acquired strategic deepwater Gulf of Mexico assets which added approximately 67 MMBOE of proven reserves at May 31, 2019. Under the terms of the transaction, Murphy paid cash consideration of $1,236.2 million and has an obligation to pay additional contingent consideration of up to $200 million in the event that certain revenue thresholds are exceeded between 2019 and 2022; and $50 million following first oil from certain development projects. The revenue threshold was not exceeded for the 2019 period. The following table contains the preliminary purchase price allocations at fair value: (Thousands of dollars) LLOG (Final) Cash consideration paid $ 1,236,165 Contingent consideration 89,444 Total purchase consideration 1,325,609 (Thousands of dollars) Fair value of Property, plant and equipment 1,356,185 Other assets 6,697 Less: Asset retirement obligations (37,273) Total net assets $ 1,325,609 The fair value measurements of crude oil and natural gas properties and asset retirement obligations are based on inputs that are not observable in the market and therefore represent Level 3 inputs. The fair values of crude oil and natural gas properties and asset retirement obligations were measured using valuation techniques that convert expected future cash flows to a single discounted amount. Significant inputs to the valuation of crude oil and natural gas properties included estimates of: (i) proved and probable reserves; (ii) production rates and related development timing; (iii) future operating and development costs; (iv) future commodity prices; and (v) a market-based weighted average discount rate. These inputs require significant judgments and estimates by management at the time of the valuation, are sensitive, and may be subject to change. Results of Operations Murphys Consolidated Statement of Operations for the three month period ended June 30, 2020, included additional revenues of $40.9 million and pre-tax loss of $31.6 million attributable to the acquired LLOG assets. For the six months ended June 30, 2020, additional revenues of $134.5 million and pre-tax loss of $437.9 million attributable to the acquired LLOG assets (including impairment expense of $432.9 million).