Murphy Oil Corp (MUR) オプション

JP Morgan analyst Arun Jayaram upgrades Murphy Oil (NYSE:MUR) from Neutral to Overweight and raises the price target from $29 to $37.

Latest Ratings for MUR DateFirmActionFromTo

Dec 2021JP MorganUpgradesNeutralOverweight Nov 2021MKM PartnersMaintainsBuy Oct 2021Morgan StanleyMaintainsEqual-Weight

Quite close to where we were a year ago. Strong work in tough times.

Able to invest 30 more million

Insiders were buying heavily a couple of weeks ago.

Good stock price for this company.

Active board lol

$MUR Murphy Oil (NYSE:MUR): Q4 EPS of $0.08 beats by $0.03.
Revenue of $541.6M (+12.5% Y/Y) misses by $32.27M.

$MUR Murphy Oil prices $550M debt offering

Murphy Oil (NYSE:MUR) prices its offering of $550M aggregate principal amount of 5.750% Notes due 2025 pursuant to a shelf registration. Net proceeds will be used to redeem the company's 2.500% Notes due 2017. Closing date is August 18.

Mason Hawkins Comments on Murphy Oil - Oct 20, 2014
Over the last three months, Murphy Oil (MUR) declined 14%. CEO Roger Jenkins made value accretive moves, announcing sales of its UK downstream assets and of 30% of the company’s Malaysian assets at a price above our appraisal. Moreover, as the shares became more discounted, the company initiated a share repurchase program, a move that Jenkins properly views as buying their proven barrels of oil for much less than it would cost to drill new wells or buy other plays.

From Mason Hawkins (Trades, Portfolio)’ Longleaf Partners Q3 2014 Management Discussion.

Mason Hawkins Comments on Murphy Oil - Feb 11, 2015
Murphy (MUR) was down 20% in the year after an 11% decline in the fourth quarter. CEO Roger Jenkins took actions to recognize value including selling a 30% stake in Malaysian assets at a price above our appraisal. Murphy also bought back shares in 2014 and has authorization for more. The sharp decline in oil prices most heavily affected Murphy’s ownership in Syncrude’s Canadian oil sands, which represented less than 15% of our appraisal before oil’s drop and less today.

From Mason Hawkins (Trades, Portfolio)’ Longleaf Partners Fund Q4 2014 Management Discussion.

Southeastern Asset Management Comments on Murphy Oil - Oct 22, 2015
As one of our energy holdings, Murphy Oil (NYSE:MUR), an exploration and production company with a portfolio of global offshore and onshore assets, was a primary performance detractor, down 41% in the quarter, with approximately half of the impact coming from the equity we hold and the other half from the options. This happened despite beating estimates on production and operating cash flow (OCF) and raising production estimates for the rest of the year. Murphy management is focused on driving costs lower and shortening drill times while improving production efficiency to reduce capex to cash flow levels. Furthermore, after disappointing international drilling results in recent years, the company will not invest in higher risk, higher cost wells at this time; instead, management plans to focus rig commitments and to allocate capital to higher return opportunities near lower-risk existing infrastructure where the company has had prior exploration success. Murphy remains well capitalized with diverse cash flow sources and an investment grade rating. It also has non-core pieces that could be monetized to unlock value. CEO Roger Jenkins continues to repurchase shares at the company level and invest personally.

MUR

those 3000 Sept 27.50 calls bought for .95 cents now worth $2.65 sitting on
$510,000 profit.

R5

MUR

those 3000 Sept 27.50 calls bought for .95 cents now worth $2.65 sitting on
$510,000 profit.

R5

MUR

the sharp option trader who bought 3000 sept 27.50 calls for .95cents, now $1.85 is sitting on a nice profit of $270,000 with probably more of that to come, hold them horses.

R5

MUR


Murphy Oil- bottoming candle with high volume, set to go up in coming weeks?

One sharp trader thinks so by buying 3000 Sept 16- 27.50 calls for .95 cents each now $1.05. follow or copy yu choose.

Happy Coding
R5

Goldman Sachs Warns Against Long-Term Oil Investments:

http://www.smarteranalyst.com/2015/05/19/goldman-sachs-warns-against-long-term-oil-investments-linn-energy-llc-line-murphy-oil-corporation-mur-chevron-corporation-cvx/

@Timothy Smith: MUR says Q2 production averaged 201.9K boe/day, down 4% Y/Y but ahead of its guidance of 197K boe/day, mostly due to new well performance in the Eagle Ford Shale and risked startup of the Medusa expansion project; MUR raises its full-year production guidance to 200K-208K boe/day.

Murphy Oil (NYSE:MUR) fell consistently into the close to finish -6.2% today as Oppenheimer downgraded the stock to Perform, from Outperform.

Murphy Oil (MUR -0.6%) has shut in 33 of its heavy oil wells in northern Alberta after a regulatory sweep found the wells were not properly capturing gasses.

Yes I agree. Been very interesting to see what's going on. Lots of opportunities in this climate! However many pitfalls too so the industry and investors alike need to be careful.

Real strange stuff going on in oil industry. Hasn't made sense since last Spring (2014)... T. Boone was saying for sure NG higher than $3/Mcf this Winter... Bunches of windturbines up and growing from a little East of Vega, TX to Adrian, TX along I40 North of I40 (southernside counties will not approve them so far)... At least those windturbines might provide enough energy on grid for close-by power plant restarts after an EMP incident. I'm stuck with a E85 capable Ford that now looks unneeded, LOL... as oil may be a thing of weirdness in future for it'll be worse for plastics, chemicals etc. if they economically find something better years from now (but, ?, maybe nanotechs could make-up difference in plastics, lol).

Murphy Oil (MUR -2.4%) is downgraded to Sell from Neutral with a $41 price target, reduced from $45, at UBS, which believes MUR's sharp capex cut this year will lead to a declining production profile in 2015 and 2016.

1st Qtr 2015•Delivered 45 new wells on line in the Eagle Ford Shale.
I wonder how much of that is with Sanchez deal and how much is their own.

The Long Case For Murphy Oil Corporation's Upcoming Spin-Off: Murphy USA

http://seekingalpha.com/article/1541622-the-long-case-for-murphy-oil-corporations-upcoming-spin-off-murphy-usa

Murphy Oil Corporation Approves Spin-Off of Murphy USA Inc. and Announces Regular Dividend (8/07/13)

Murphy Oil Corporation (NYSE:MUR) (the “Company” or “Murphy Oil”) announced today that its Board of Directors has approved both the spin-off of its U.S. retail marketing business and the regular quarterly dividend.

The spin-off of the U.S. retail marketing business will be achieved through the distribution of 100% of the shares of Murphy USA Inc. (“MUSA”) to holders of Murphy Oil common stock. Murphy Oil shareholders entitled to receive the distribution will receive a book-entry account statement or a credit to their brokerage account reflecting their ownership of MUSA common stock. Murphy Oil shareholders should retain their Murphy Oil stock certificates.

The distribution of MUSA shares is expected to be completed after the market close on August 30, 2013, with Murphy Oil shareholders receiving one share of MUSA common stock for every four shares of Murphy Oil common stock held at the close of business on the record date of August 21, 2013. Fractional shares of MUSA common stock will not be distributed. Any fractional share of MUSA common stock otherwise issuable to a Murphy Oil shareholder will be sold in the open market on such shareholder's behalf, and such shareholder will receive a cash payment for the fractional share based on its pro rata portion of the net cash proceeds from all sales of fractional shares.

Following the distribution of MUSA common stock on August 30, MUSA will be an independent, publicly traded company. MUSA has received approval for the listing of its common stock on the New York Stock Exchange under the symbol “MUSA.”

Steve Cossé, President and Chief Executive Officer of Murphy Oil Corporation said, “Today’s announcement signals an exciting new beginning for both Murphy Oil Corporation and Murphy USA Inc. as separating these two businesses will allow each to unlock its own potential for growth.”

Prior to the distribution, Murphy Oil expects to mail an information statement to all shareholders entitled to receive the distribution of shares of MUSA common stock. The information statement will describe MUSA, including the risks of owning MUSA common stock, and other details regarding the spin-off.

The completion of the distribution is subject to a number of customary conditions, including the Securities and Exchange Commission (SEC) having declared effective MUSA's Registration Statement on Form 10, as amended, which MUSA has filed with the SEC and is available at the SEC's website at http://www.sec.gov. The Murphy Oil Board of Directors has reserved the right to withdraw its declaration of the dividend at any time prior to the distribution.

Murphy Oil has received a private letter ruling from the Internal Revenue Service stating that, based on information provided by the Company, neither Murphy Oil nor its shareholders will be subject to U.S. federal income tax by reason of the distribution of MUSA common stock in the spin-off, except to the extent cash is received in lieu of fractional shares, which will generally result in shareholders recognizing capital gain or loss.

Murphy Oil expects that a “when-issued” public trading market for MUSA common stock will commence on or about August 19, 2013 under the symbol “MUSAwi”, and will continue through the distribution date. Murphy Oil also anticipates that “regular way” trading of MUSA common stock will begin on September 3, 2013, the first trading day following the distribution date.

Beginning on or about August 19, 2013, and through the distribution date, it is expected that there will be two ways to trade Murphy Oil common stock – either with or without the distribution of MUSA common stock. Murphy Oil shareholders who sell their shares of Murphy Oil common stock in the “regular-way” market (that is, the normal trading market on the NYSE under the symbol “MUR”) after the record date and on or prior to the distribution date will be selling their right to receive shares of MUSA common stock in connection with the spin-off. It is anticipated that shares of Murphy Oil common stock will also trade ex-distribution (that is, without the right to receive the MUSA distribution) during that period under the symbol “MURwi.” Investors are encouraged to consult with their financial advisors regarding the specific implications of buying or selling shares of Murphy Oil common stock on or before the distribution date.

MUSA, to be based in El Dorado, Arkansas, will be a retail marketer of fuel products and convenience merchandise operating a network of 1,179 retail fuel stations (as of June 30, 2013), almost all of which are in close proximity to Walmart stores, in 23 states, primarily in the Southern and Midwestern United States.

Murphy Oil, which will also remain headquartered in El Dorado, Arkansas, will be an independent exploration and production company with a strong portfolio of global offshore and onshore assets delivering oil-weighted growth with upside to our exploration program.

J.P. Morgan Securities LLC and Stephens Inc. acted as financial advisors to Murphy Oil. Davis Polk & Wardwell LLP acted as legal advisor to Murphy Oil.

The Board of Directors of Murphy Oil today also declared a quarterly cash dividend on the common stock of Murphy Oil of $0.3125 per share, or $1.25 per share on an annualized basis. The dividend is payable August 30, 2013 to holders of record as of the close of business on August 21, 2013.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including with respect to the completion of the spin-off of MUSA, including the expected distribution date, the listing of shares of MUSA common stock on the NYSE, the expected mailing date for the information statement, the tax-free nature of the spin-off and the anticipated dates for MUSA common stock to begin trading on a “when-issued” basis and on a “regular-way” basis and for Murphy Oil common stock to begin trading on an “ex-distribution” basis. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of the events forecasted in this press release not to occur include, but are not limited to, that the distribution may not be completed as anticipated or at all, that delays or other difficulties in completing the distribution may be experienced, whether the registration statement for MUSA is declared effective by the U.S. Securities and Exchange Commission, a deterioration in the business or prospects of Murphy Oil or MUSA, adverse developments in Murphy Oil’s or MUSA’s markets, or adverse developments in the U.S. or global capital markets, credit markets or economies generally. Other factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements include, but are not limited to, the volatility and level of crude oil and natural gas prices, the level and success rate of our exploration programs, our ability to maintain production rates and replace reserves, political and regulatory instability, uncontrollable natural hazards and a failure to execute a sale of the U.K. downstream operations on acceptable terms. For further discussion of risk factors, see Murphy Oil’s Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent Forms 10-Q and 8-K on file with the U.S. Securities and Exchange Commission. Murphy Oil undertakes no duty to publicly update or revise any forward-looking statements.

Murphy Oil Corporation
Barry Jeffery, 870-864-6501

http://www.reuters.com/article/2013/08/07/ar-murphy-oil-idUSnBw076435a+100+BSW20130807

http://seekingalpha.com/article/1396601-murphy-oil-management-discusses-q1-2013-results-earnings-call-transcript

3:59 PM Murphy Oil (MUR -0.4%) plans to file final paperwork with the SEC next week in hopes of receiving approval to spin off its entire U.S. retail division, and will seek a favorable IRS ruling for the spinoff as a tax-free transaction. Also, MUR changes its mind and says it will not sell its 5% stake in Alberta's Syncrude oil sands project and its shale gas properties in western Canada.

3:35 PM Murphy Oil Corporation (MUR) declares $0.3125/share quarterly dividend, in line with previous. Forward yield 1.99%. For shareholders of record May 17. Payable June 03. Ex-div date May 15.

Murphy Oil (MUR) Director Buys 20K Shares

10:05 AM 3/1/2013 - StreetInsider

Murphy Oil Corp. (NYSE: MUR) Director Claiborne Deming bought 20,000 shares on 2/27 at $60.86.

hold is better than sell, but just because reported earnings were lower, big deal. If my memory serves me right, oil prices were higher 2011 4th quarter to this previous quarter.

Billionaire interest - Murphy Oil Corporation (MUR) is on Dan Loeb's top dividend plays with a yield of 2.00%.

It recently beat Q4 earnings estimates in a big way, coming out with a $0.77 surprise over expected. MUR also joined LyondellBasell (another Loeb favorite) in giving out a special dividend in December of 2012 ($2.50 in Murphy's case); both companies handed out the distributions in anticipation of looming tax rate increases due to the fiscal cliff.

Despite Murphy's recent positivity in the eyes of their shareholders, most analysts on the Street are encouraging holding versus accumulation, as reported earnings and revenue still came in negative versus this time last year.

William B. Gray, manager of almost a trillion dollars in assets, has a position in MUR comparable to Loeb's

Thought you'd like that. Definitely caught my eye after the "un-love" MUR has been getting lately.

That's a big increase which indicates a bullish 2013.

doing good. add this in:
Loeb's Third Point New Stake in (DG) (HLF) (MS) (NWSA) (TSO); Cuts (AIG), Liquidates (AAPL)

5:40 PM 2/14/2013 - StreetInsider

Dan Loeb'sThird Point LLC hedge fund released its 13F for the quarter ended December 31, 2012. Below is a summary:


New Stakes
Abbott Laboratories (NYSE: ABT) new 1,834,000 share position
AbbVie, Inc. (NYSE: ABBV) new 416,000 share position
Agrium, Inc. (NYSE: AGU) new 1,000,000 share position
Capital One Financial Corp. (NYSE: COF) new 900,000 share position
Cheniere Energy, Inc. (NYSE: LNG) new 4,000,000 share position
COMPUWARE (NASDAQ: CPWR) new 3,500,000 share position
Dollar General (NYSE: DG) new 2,150,000 share position
Electronic Arts, Inc. (NASDAQ: EA) new 2,400,000 share position
Energen Corp. (NYSE: EGN) new 425,000 share position
Equinix, Inc. (NASDAQ: EQIX) new 525,000 share position
Herbalife (NYSE: HLF) (CALL) new 200,000 share position (*known through 13G)
Herbalife (NYSE: HLF) new 3,100,000 share position (*known through 13G)
Illumina, Inc. (NASDAQ: ILMN) new 1,500,000 share position
International Paper Co. (NYSE: IP) new 1,500,000 share position
Louisiana-Pacific Corp. (NYSE: LPX) new 3,000,000 share position
Morgan Stanley (NYSE: MS) new 7,750,000 share position (*known through letter)
News Corporation - Class A Shares (NASDAQ: NWSA) new 7,000,000 share position
PVH Corp. (NYSE: PVH) new 600,000 share position
Tesoro Corp. (NYSE: TSO) new 3,650,000 share position (*known through letter)
TransDigm (NYSE: TDG) new 150,000 share position

Raised Stakes
Ariad Pharmaceuticals, Inc. (NASDAQ: ARIA) raised from 1,350,000 shares to 2,500,000 shares
Foster Wheeler AG (NASDAQ: FWLT) raised from 2,000,000 shares to 2,100,000 shares
Liberty Global, Inc. Class A (NASDAQ: LBTYA) raised from 1,550,000 shares to 1,650,000 shares
Murphy Oil Corp. (NYSE: MUR) raised from 4,851,000 shares to 6,215,000 shares
Sensata Technologies Holding (NYSE: ST) raised from 1,750,000 shares to 2,750,000 shares
Symantec Corp (NASDAQ: SYMC) raised from 6,000,000 shares to 6,700,000 shares

Murphy Oil Announces Preliminary Quarterly and Annual Financial Results

Jan 30, 2013 4:53:00 PM
Copyright Business Wire 2013
EL DORADO, Ark.--(BUSINESS WIRE)-- Murphy Oil Corporation (NYSE: MUR) announced today that its net income in the fourth quarter of 2012 was $158.7 million ($0.82 per diluted share) compared to a net loss of $113.9 million ($0.59 per diluted share) in the fourth quarter of 2011. Net income in the fourth quarter of 2012 was improved over the same 2011 quarter principally due to lower impairment expenses and income tax benefits associated with operating losses in two foreign countries in the current period. The just completed quarter included total impairment charges of $261.0 million ($239.6 million after taxes) associated with both oil production operations in Republic of the Congo and ethanol production operations in Hereford, Texas. The Congo impairment related primarily to unsuccessful drilling operations in the fourth quarter and the removal of proved oil reserves at year-end 2012 at the Azurite field. The field continues to produce while we evaluate future options. Operating results in the fourth quarter of the prior year included an impairment charge for Azurite of $368.6 million. The Hereford ethanol plant was deemed impaired at year-end 2012 due to an expectation of weak future ethanol crush spreads. Income tax benefits in the upstream business totaled $108.3 million associated with tax deductions for operating losses in Republic of the Congo and Suriname. The 2012 fourth quarter included a loss from discontinued operations of $3.7 million ($0.02 per diluted share), compared to income from discontinued operations of $4.0 million ($0.02 per diluted share) in the 2011 quarter. Income from continuing operations in the fourth quarter of 2012 was $162.4 million ($0.84 per diluted share), but was a loss of $117.9 million ($0.61 per diluted share) a year ago.

For the year of 2012, net income totaled $970.9 million ($4.99 per diluted share) compared to $872.7 million ($4.49 per diluted share) in 2011. Net income included income from discontinued operations of $6.8 million ($0.04 per diluted share) in 2012 and $143.2 million ($0.74 per diluted share) in 2011. Income from continuing operations for the years of 2012 and 2011 totaled $964.1 million ($4.95 per diluted share) and $729.5 million ($3.75 per diluted share), respectively.


Net Income


Three Months Ended Years Ended
December 31,

December 31,
2012


2011

2012


2011

(Millions of Dollars)
Exploration and Production $ 145.0 (144.6 ) 905.0 614.2
Refining and Marketing 38.5 61.0 157.6 190.3
Corporate
(21.1

)

(34.3

)

(98.5

)

(75.0

)


Income (loss) from continuing operations 162.4 (117.9 ) 964.1 729.5
Income (loss) from discontinued operations
(3.7

)

4.0


6.8


143.2



Net income (loss)
$

158.7

(113.9 ) 970.9 872.7

Income (loss) per Common share – Diluted:
Income (loss) from continuing operations $ 0.84 (0.61 ) 4.95 3.75
Net income (loss) 0.82 (0.59 ) 4.99 4.49


Fourth quarter 2012 vs. Fourth quarter 2011

Exploration and Production (E&P)

Income for the Company’s E&P continuing operations was $145.0 million in the fourth quarter of 2012 compared to a loss of $144.6 million in the same quarter of 2011. The improvement in earnings in the fourth quarter 2012 compared to the same period in 2011 was primarily attributable to a larger impairment charge in Republic of the Congo in 2011 and income tax benefits recognized in 2012 totaling $108.3 million associated with operating losses in Republic of the Congo and Suriname. The 2012 quarter also benefited from higher crude oil sales volumes and lower exploration expenses, but these were mostly offset by lower oil and natural gas sales prices and higher overall extraction and administrative expenses. The increase in extraction expenses in the current year was attributable to higher worldwide average crude oil production and higher depreciation unit rates in Malaysia associated with ongoing capital development activities.


E&P Metrics


Three Mos. Ended Years Ended
December 31, December 31,
2012

2011

2012

2011

Oil Production Volume – Bbls. per day 132,918 108,771 112,591 103,160
Natural Gas Sales Volume – MCF per day 473,487 487,991 490,124 457,365
Total BOE Production Volume – BOE per day 211,833 190,103 194,278 179,388

Average Realized Oil Sales Price – $ per Bbl. $ 92.82 96.67 95.58 94.18
Average Realized North American Natural Gas Sales Price – $ per MCF

$ 3.34 3.67 2.65 4.08
Average Realized Sarawak Natural Gas Sales Price – $ per MCF

$ 6.78 7.85 7.50 7.10


Exploration expenses totaled $137.2 million in the fourth quarter 2012, down from $185.6 million in the 2011 quarter. The decrease was primarily attributable to lower dry hole costs associated with unsuccessful exploratory drilling in the 2012 quarter in Canada and Brunei, partially offset by higher dry hole costs in the current quarter in Republic of the Congo.

Additionally, the 2012 quarter had lower leasehold amortization expense in the Kurdistan region of Iraq compared to the prior year.

Worldwide production totaled 211,833 barrels of oil equivalent per day in the 2012 fourth quarter, an 11% increase from the 190,103 barrels of oil equivalent per day produced in the 2011 quarter. Crude oil, condensate and gas liquids production was 132,918 barrels per day in the 2012 quarter compared to 108,771 barrels per day in 2011. The oil production increase in the current year was primarily attributable to an ongoing development drilling program in the Eagle Ford Shale area of South Texas as well as purchase of additional working interests in the Thunder Hawk and Front Runner fields in the Gulf of Mexico during 2012. Natural gas sales volumes averaged 473 million cubic feet per day in quarter four 2012, down 3% from the 488 million cubic feet per day sold in the prior year’s quarter. The 2012 reduction was primarily attributable to lower gas volumes produced at the Tupper area in Western Canada due to a planned shut-in of certain wells and virtually no development drilling in this area in the 2012 quarter because of continued weak North American natural gas sales prices. Natural gas production in 2012 in the U.S. was above 2011 levels primarily due to the development drilling program in the Eagle Ford Shale.

The average sales price for the Company’s crude oil, condensate and gas liquids was $92.82 per barrel for continuing operations in the 2012 fourth quarter, down from $96.67 per barrel in the 2011 quarter. Natural gas sales prices in North America averaged $3.34 per thousand cubic feet (MCF) in the 2012 quarter, down from $3.67 per MCF in the 2011 quarter. Natural gas sold from fields offshore Sarawak, Malaysia, averaged $6.78 per MCF in the 2012 quarter compared to $7.85 per MCF a year ago.

Refining and Marketing (R&M)

The Company’s refining and marketing business generated a quarterly profit from continuing operations of $38.5 million in the fourth quarter 2012 compared to a profit of $61.0 million in the same quarter a year earlier. U.S. R&M continuing operations generated earnings of $22.0 million in the fourth quarter of 2012 compared to earnings of $50.7 million in the 2011 quarter. The earnings reduction for this business in 2012 was principally the result of an impairment charge of $39.6 million after taxes to reduce the carrying value of the Hereford, Texas ethanol plant. The Company’s U.S. ethanol plants experienced weaker operating results in the 2012 quarter compared to the prior year due to depressed ethanol crush spreads. U.S. retail marketing operations reflected improved results as margins for this business averaged 14.1 cents per gallon in the 2012 quarter compared to 13.0 cents per gallon in the 2011 quarter. Retail operations also benefited from improved merchandise margins in the current quarter compared to a year ago. The U.K. R&M operations posted a net profit of $16.5 million in the 2012 quarter compared to a profit of $10.3 million in 2011, with the improved results based on better overall unit margins for this business.


Downstream Metrics


Three Mos. Ended Years Ended
December 31 December 31
2012

2011

2012

2011

U.S. Retail Fuel Margins – Per gallon $ 0.141 0.130 0.129 0.156
U.S. Retail Merchandise sales per store month $ 154,730 157,425 156,429 158,144
U.K. Refinery Inputs – Bbls. per day 133,599 138,492 132,613 135,391
U.K. R&M Unit Margins – Per Bbl. $ 2.21 1.38 1.94 (0.67 )
Total Petroleum and Other Product Sales –
Bbls. per day* 494,406 465,946 474,949 556,434

*Includes 122,361 bbls. per day in the 2011 year related to discontinued operations.


Corporate

Corporate activities incurred after-tax costs of $21.1 million in the fourth quarter of 2012, well below the net costs of $34.3 million in the 2011 quarter. The 2012 cost reduction was primarily related to favorable effects from transactions denominated in foreign currencies. The 2012 quarter included an after-tax benefit of $3.5 million from foreign currencies, compared to an after-tax charge of $11.6 million in the 2011 quarter. The Company also had lower net interest expense in the 2012 quarter due to capitalizing a larger portion of its financing costs to oil development projects in the current period. Administrative expenses were higher in the 2012 quarter compared to a year earlier due to additional costs for professional services and employee compensation.

Discontinued Operations

The loss from discontinued operations was $3.7 million ($0.02 per diluted share) in the fourth quarter 2012, compared to income of $4.0 million ($0.02 per diluted share) in the 2011 fourth quarter. The 2012 quarterly results included income tax adjustments related to the Company’s former U.S. oil refineries which were sold in 2011, mostly offset by profits from U.K. oil and gas production operations. The quarterly profit a year ago was primarily attributable to results of the U.K. oil and gas production operations. The sale of these U.K. oil and gas assets is expected to be completed during the first quarter 2013.

Year 2012 vs. Year 2011

Exploration and Production (E&P)

The Company’s E&P continuing operations earned $905.0 million for the full year 2012 compared to $614.2 million in 2011. The improvement in 2012 earnings versus 2011 was primarily attributable to higher oil production and lower impairment and exploration expenses in 2012, plus income tax benefits recognized in the current year related to U.S. tax deductions for losses incurred in Republic of the Congo and Suriname. The current year also benefited from marginally higher average crude oil sales prices. The 2011 period included a $13.1 million after-tax gain on sale of gas storage assets in Spain. Unfavorable effects in 2012 included lower North American natural gas sales prices and higher extraction expenses, with the latter caused by increased production levels and higher overall per-unit depreciation rates.

Total exploration expense was $380.9 million in 2012, down from $489.4 million in 2011. Exploration costs were lower in the current year due to more drilling success in 2012, plus lower geophysical expense in the Gulf of Mexico, Malaysia, Brunei and the Kurdistan region of Iraq.

Total worldwide production in 2012 was 194,278 barrels of oil equivalent per day, an 8% increase from 179,388 barrel equivalents produced in 2011. Total crude oil, condensate and gas liquids production averaged 112,591 barrels per day in 2012, an increase of 9% compared to the 2011 level of 103,160 barrels per day. The increase in the current year was mostly attributable to higher production in the Eagle Ford Shale area of South Texas and at the Kikeh field, offshore Sabah, Malaysia. Natural gas sales volumes increased from 457 million cubic feet per day in 2011 to 490 million cubic feet per day in 2012. The 7% increase in gas volumes in the current year was primarily attributable to higher production in the Tupper area and the Eagle Ford Shale. Natural gas volumes would have increased more in 2012 but for the fact that the Company voluntarily shut-in certain wells and significantly reduced development drilling in Western Canada due to depressed North American natural gas sales prices.

The average sales price for crude oil and other liquids for continuing operations was $95.58 per barrel in 2012 compared to $94.18 per barrel in 2011. North American natural gas was sold at an average price of $2.65 per MCF in 2012, significantly below the 2011 average of $4.08 per MCF. However, natural gas volumes produced offshore Sarawak were sold for $7.50 per MCF in 2012, up from $7.10 per MCF in the prior year.

Refining and Marketing (R&M)

The Company’s refining and marketing continuing operations generated a profit of $157.6 million in the year of 2012 compared to a profit of $190.3 million in 2011. U.S. R&M profits from continuing operations were $105.4 million in 2012 compared to $223.6 million in 2011. Operating results in 2012 for the U.S. R&M business were lower than 2011 due to weaker retail marketing margins and significantly lower margins for ethanol production operations. Per gallon margins for U.S. retail operations averaged 12.9 cents in 2012 compared to 15.6 cents in 2011. Ethanol production operating results were adversely affected by both weaker crush spreads and a $39.6 million after-tax asset impairment charge related to the Hereford, Texas plant. The U.K. R&M business produced a net profit of $52.2 million in 2012 compared to a net loss of $33.3 million in 2011. The improvement in U.K. operating results was attributable to more than a $2.60 per barrel increase in unit margins in the current year.

Corporate

Corporate after-tax costs were $98.5 million in the year of 2012 compared to costs of $75.0 million in 2011. The significant unfavorable variance in 2012 compared to the prior year was mostly associated with foreign currency effects. Although after-tax effects from transactions denominated in foreign currencies were minimal in 2012, the prior year benefited from an after-tax gain of $20.7 million. The 2012 period also had higher administrative costs compared to 2011, primarily associated with more employee compensation and professional service expenses in the later period. However, net interest expense was lower in 2012 than 2011 essentially due to higher levels of interest capitalized to oil development projects in the current year.

Discontinued Operations

Income from discontinued operations was $6.8 million in 2012 compared to $143.2 million in 2011. The 2011 results primarily related to income for two U.S. refineries sold in late 2011, including $113.1 million of operating profits and an $18.7 million net gain on disposal. Income from discontinued operations in both years included operating profits for U.K. offshore oil and gas assets that are expected to be sold in the first quarter 2013.

Steven A. Cossé, President and Chief Executive Officer, commented, “The just completed 2012 was an important year for our Company. Murphy’s Board decided to separate our U.S. downstream subsidiary into an independent public company; the completion of this process is expected during 2013. The U.S. retail business executed a new contract with Walmart, which will provide growth opportunities for this company for the next several years. In the oil and gas business, once again our reserves replacement significantly exceeded our oil and gas production volumes. We continued growth in our Eagle Ford Shale operation, where total production averaged 15,000 net barrels of oil equivalent per day for 2012, with expected 2013 annual production increasing to 30,000 net barrel equivalents per day. We added acreage and working interests in Canada and the Gulf of Mexico, while finalizing sale agreements for our oil and gas properties in the U.K. that are expected to close in the first quarter of this year. We also paid a $2.50 per share special dividend and commenced a stock buyback program near year-end.

“We anticipate total worldwide production volumes of 200,000 barrels of oil equivalent per day in the first quarter of 2013. Sales volumes of oil and natural gas are projected to average 202,000 barrels of oil equivalent per day during the quarter. At the present time, we expect income from continuing operations in the first quarter to range between $0.55 and $0.90 per diluted share. The first quarter estimate includes projected exploration expense of between $70 million and $140 million, and a loss from our downstream businesses of approximately $10 million. Results could vary based on the risk factors described below.”

The public is invited to access the Company’s conference call to discuss fourth quarter 2012 results on Thursday, January 31 at 12:00 p.m. CST either via the Internet through the Investor Relations section of Murphy Oil’s Web site at http://www.murphyoilcorp.com/ir or via the telephone by dialing 1-888-503-8172. The telephone reservation number for the call is 6962469. Replays of the call will be available through the same address on Murphy Oil’s Web site, and a recording of the call will be available through February 4 by calling 1-888-203-1112 and referencing reservation number 6962469. Audio downloads will also be available on the Murphy Web site through March 1 and via Thomson StreetEvents for their service subscribers.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future events or results, including Murphy’s plans to separate its U.S. downstream business and to divest its U.K. downstream and U.K. upstream operations, are subject to inherent risks and uncertainties. Factors that could cause one or more of these forecasted events not to occur include, but are not limited to, a failure to obtain necessary regulatory approvals, a failure to obtain assurances of anticipated tax treatment, a deterioration in the business or prospects of Murphy or its U.S. downstream business, adverse developments in Murphy or its U.S. downstream operation’s markets, adverse developments in the U.S. or global capital markets, credit markets or economies generally or a failure to execute a sale of the U.K. downstream or U.K. upstream operations on acceptable terms or in the timeframe contemplated. Factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements include, but are not limited to, the volatility and level of crude oil and natural gas prices, the level and success rate of our exploration programs, our ability to maintain production rates and replace reserves, customer demand for our products, adverse foreign exchange movements, political and regulatory instability, and uncontrollable natural hazards. For further discussion of risk factors, see Murphy’s 2011 Annual Report on Form 10-K and the September 30, 2012 Quarterly Report on Form 10-Q on file with the U.S. Securities and Exchange Commission. Murphy undertakes no duty to publicly update or revise any forward-looking statements.





MURPHY OIL CORPORATION

CONSOLIDATED FINANCIAL DATA SUMMARY

(Unaudited)


FOURTH QUARTER

2012

2011*


Revenues $ 7,389,228,000 6,794,033,000

Income (loss) from continuing operations $ 162,391,000 (117,953,000 )

Net income (loss) $ 158,687,000 (113,928,000 )

Income (loss) from continuing operations per Common share

Basic $ 0.84 (0.61 )
Diluted 0.84 (0.61 )

Net income (loss) per Common share
Basic $ 0.82 (0.59 )
Diluted 0.82 (0.59 )

Average shares outstanding
Basic 193,451,849 193,604,685
Diluted 194,402,979 194,485,708


YEAR


Revenues $ 28,626,046,000 27,638,121,000

Income from continuing operations $ 964,046,000 729,471,000

Net income $ 970,876,000 872,702,000

Income from continuing operations per Common share

Basic $ 4.97 3.77
Diluted 4.95 3.75

Net income per Common share
Basic $ 5.01 4.51
Diluted 4.99 4.49

Average shares outstanding
Basic 193,902,335 193,409,621
Diluted 194,668,737 194,512,402

*Reclassified to conform to current presentation.




Murphy Oil Corporation

Barry Jeffery, 870-864-6501

Source: Murphy Oil Corporation


----------------------------------------------

Murphy Oil Corporation

Barry Jeffery
870-864-6501

Murphy Oil to add 200 fuel stations at Wal-Marts

10:44 AM 12/26/2012 - AcquireMedia

EL DORADO, Ark. -- Murphy Oil Corp. said Wednesday that it will open 200 new locations at Wal-Mart stores in the Midwest and Southeast.

Financial terms were not disclosed. Under terms of the deal, Murphy USA, the arm of Murphy Oil which is being spun off to focus on selling fuel, will build about 200 new fuel stations at existing Wal-Mart stores over the next three years.

CEO Steven Cosse said the deal is a "significant step forward in our long-term relationship with Wal-Mart as we pursue our business plan to separate the U.S. retail business into a stand-alone entity."

In October, Murphy Oil said it will split into two: Murphy Oil will continue to explore for and produce oil in the U.S., Canada and Malaysia, while Murphy USA, which currently operates retail gasoline stations in 23 states, will be its fuel selling arm.

Murphy USA also operates seven fuel distribution terminals and ethanol production facilities in North Dakota and Texas.

Murphy Oil Sells Notes in Three Maturities Totaling $1.5 Billion

9:46 AM 11/30/2012 - Business Wire

EL DORADO, Ark.--(BUSINESS WIRE)--Nov. 30, 2012-- Murphy Oil Corporation (NYSE:MUR) announced today that it has closed on the sale of three tranches of senior unsecured notes. The first tranche of $550 million of 2.500% coupon notes will mature on December 1, 2017; the second tranche of $600 million of 3.700% coupon notes will mature on December 1, 2022; and the third tranche of $350 million of 5.125% coupon notes will mature on December 1, 2042. Interest is payable semi-annually on June 1 and December 1, commencing June 1, 2013 for all three tranches.

Proceeds of the issue are expected to be used to fund Murphy’s previously announced special dividend of $2.50 per share and to fund repurchases pursuant to a share buyback program in an aggregate amount up to $1 billion and for general corporate purposes.

J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., RBC Capital Markets, LLC and Wells Fargo Securities, LLC were Joint Book-Running Managers. Citigroup Global Markets Inc., DNB Markets, Inc. and Mitsubishi UFJ Securities (USA), Inc. were Senior Co-Managers. Capital One Southcoast, Inc., Comerica Securities, Inc., Fifth Third Securities, Inc., Morgan Keegan & Company, Inc., Scotia Capital (USA) Inc. and U.S. Bancorp Investments, Inc. were Co-Managers.

The notes were offered solely by means of a prospectus supplement and accompanying prospectus relating to an effective registration statement under the Securities Act of 1933, as amended.

This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

5:24 PM Murphy Oil (MUR) agrees to purchase interests in Shell lands and take over as operator of Shell assets in the Seal Lake area of Alberta; the purchase price was not disclosed. The transaction brings MUR's acreage in the area to more than 331K net acres with total production of ~9K boe/day.

Ha yes very oily!

Fabulous. Already have Dec 3rd showing a couple other O&G divies. Going to be one oily day!

Murphy Oil Corporation ( MUR ) announced its plan to spin off its U.S. downstream subsidiary, Murphy Oil USA, Inc. ("Murphy USA"), to an independent entity. The company has already received required approvals from its board of directors, but closure of this deal will be subject to several other customary nods. This transaction is expected to be settled in 2013.

Per the transaction, Murphy USA will trade in the exchange separately. The Board of Directors of Murphy Oil has approved to distribute a special dividend per share of $2.50, a total of around $500 million, to its shareholders and intends to distribute shares of Murphy USA on pro-rata basis to every Murphy Oil stockholders. This new dividend is in addition to the existing dividend of roughly 31 cents per share and will be payable on December 3, 2012.

Post transaction, Murphy USA will continue to operate as a low-price and high volume fuel seller, having important strategic relationships and skilled management professionals. It will get seven product distribution terminals and two ethanol production capacities in North Dakota and Texas. Its business will deal with retail petroleum products marketing and convenience merchandise through a large chain of retail gasoline stations.

On the other hand, Murphy Oil will become an independent exploration and production company. It will be mainly operating in the United States, Canada and Malaysia. The company will continue its exploration program and offshore development projects in its North America onshore operations, primarily in the Eagle Ford Shale and Seal areas.

The resilience of Murphy Oil's balance sheet is clearly evident as the company in addition to shelling out dividends has also announced a share repurchase program to boost shareholder value. The Board of Directors approved a share repurchase program of up to $1 billion of the company's shares. Murphy Oil intends to exercise open market purchases, negotiated block purchases and accelerated share repurchases for its share buyback program.

As of June 30, 2012, Murphy Oil had cash and cash equivalents of about $671.6 million and net cash provided by operating activities of $1,347.1 million in the first six months of 2012. We believe strong financial position will help the company to manage its present restructuring burden.

This spin off will enable both the companies to assign resources and redeploy existing capital as per their own market conditions and priorities. We believe this transaction will enable both the companies to concentrate on their own strategic preferences as well as identify own capability for their future growth.

Post restructuring, we believe that both the companies will focus on achieving reasonable revenue, optimize cost structure, and maintain robust margins and strong liquidity position in the future.

El Dorado, Arkansas-based Murphy Oil Corporation engages in the exploration, production, refining and marketing of oil and gas in the U.S. and U.K. One of the company's peers is Occidental Petroleum Corporation ( OXY ). Murphy Oil Corporation currently has short-term Zacks #3 Rank (Hold rating).

Read more: http://community.nasdaq.com/News/2012-10/murphy-oil-announces-spin-off-analyst-blog.aspx?storyid=182370#ixzz29mLe0cd0

finally showed up to prove I wasn't hallucinating: 5:18 PM With Third Point successfully convincing Murphy Oil (MUR) to spin off its U.S. retail business, Deutsche Bank analyst Paul Sankey thinks Occidental Petroleum (OXY) and Hess (HES) likely will be next, since "in both cases, investors have major questions over strategy and execution, and both are trading below NAV.” ConocoPhillips (COP) is viewed as a sleeper pick.

Excited to see what happens next.

It was speculation of pps rise by some investors, since it seems to be in same class/products/overseas ops of O&G as MUR, nothing to take as more than just guesswork.

Interesting I didn't know $HES was in the mix on that as well. Spin outs and splits can be very favorable to the investor.

So is $HES, at least they are manipulating (predicting) as such. Had gains yesterday on the backs of MUR. MUR has a usual 2% annual divie yield, so I skipped it until now. Splits work very well into the investor's advantage.

I am not going to lie I'm as giddy as I was as a farm boy when I get dividends lol.

Definitely in it to win it here. I am very long $MUR.

Its been an interesting development watching some of the vertically integrated companies spinning out their downstream divisions. $COP is an obvious one and now $VLO is looking at it.

I am LONG on $MUR.

Murphy Oil to spin off US downstream unit, divest UK downstream assets

HOUSTON, Oct. 16 Oil&Gas Journal
10/16/2012
By Paula Dittrick
OGJ Senior Staff Writer

Murphy Oil Corp. announced plans to spin off its US downstream subsidiary, Murphy Oil USA Inc. into an independent and separately traded company, and Murphy reaffirmed plans to divest UK downstream operations, saying it is reviewing options for certain UK assets.

Regarding Murphy Oil USA, the parent company said creation of two publicly traded companies would enable each business to focus on its strategic priorities with financial targets that best fit each company’s market opportunities.

Other US majors previously have followed similar strategies.

Marathon Oil Corp. completed the spinoff of the downstream business, Marathon Petroleum Corp., making Marathon Oil an independent upstream company based in Houston. Marathon Petroleum became an independent refiner based in Findlay, Ohio (OGJ, Jan. 7, 2011, Newsletter).

ConocoPhillips separated its upstream and downstream businesses into two stand-alone, publicly traded corporations via a tax-free spinoff of the refining and marketing business. The downstream business is Phillips 66. That spinoff was completed earlier this year.

The Murphy spinoff, expected to be finalized in 2013, remains subject to customary conditions, including confirmation of the tax-free nature of the transaction.

The separate upstream and downstream businesses will be able to allocate resources and deploy capital consistent with the priorities of each, a news release said, adding that investors will be able to value the two separate businesses based on financial situation of each.

After the spinoff, the downstream business will involve retail marketing of petroleum products and convenience merchandise through a large chain of retail gasoline stations. Additionally, Murphy USA’s assets will include seven product distribution terminals and ethanol plants in North Dakota and Texas.

After the spinoff, the upstream Murphy will become an independent exploration and production company with principal activities focused in the US, Canada, and Malaysia. The UK downstream operations will remain with Murphy until such time as these assets are fully divested.

Murphy Chairman Claiborne Deming said, “Murphy will be a pure-play exploration and production company with strong returns and attractive investment opportunities, while Murphy USA will be a leading retailer with over 1,100 retail gasoline outlets.”

Steven Cosse, Murphy’s president and chief executive officer, said the two separate companies will be better able to prosper in their respective industries.

Contact Paula Dittrick at paulad@ogjonline.com.