Murphy Oil (MUR) Unit Enters Agreement to Divest Montney Midstream Assets in C$538M Deal

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Go back to Murphy Oil (MUR) Unit Enters Agreement to Divest Montney Midstream Assets in C$538M Deal

MURPHY ANNOUNCES DIVESTITURE OF MONTNEY MIDSTREAM ASSETS WITH PARTIAL ALLOCATION OF PROCEEDS TO STRATEGIC KAYBOB DUVERNAY AND LIQUIDS RICH MONTNEY LANDS JOINT VENTURE

January 27, 2016 5:19 PM EST

EL DORADO, Arkansas, January 27, 2016 - Murphy Oil Corporation (NYSE: MUR) today announced that its Canadian subsidiary, Murphy Oil Company Ltd. ("MOCL"), has signed a definitive agreement with Enbridge G&P Limited Partnership, a subsidiary of Enbridge Inc., ("Enbridge") to divest natural gas processing and sales pipeline assets that support Murphy's Montney natural gas fields in the Tupper and Tupper West areas of northeastern British Columbia. The transaction includes the sale of... More

MURPHY OIL CORPORATION ANNOUNCES PRELIMINARY FOURTH QUARTER AND FULL YEAR 2015 FINANCIAL AND OPERATING RESULTS

January 27, 2016 5:10 PM EST

EL DORADO, Arkansas, January 27, 2016 - Murphy Oil Corporation (NYSE: MUR) today announced its preliminary financial and operating results for the fourth quarter and full-year ended December 31, 2015, including a net loss of $587.1 million, or $3.41 per diluted share during the quarter. The net loss during the fourth quarter includes a non-cash impairment of oil and natural gas properties of $192.2 million, or $123.5 million net of tax, deepwater rig contract exit costs of $282.0 million, or $183.3 million net of tax, and... More