Key Developments: Murphy Oil Corp (MUR.N)
63.60USD
18 Jun 2013
$-0.02 (-0.03%)
$63.62
$63.48
$64.33
$63.42
201,698
354,720
$66.28
$43.29
Latest Key Developments (Source: Significant Developments)
Murphy Oil Corp Announces Executive Management Succession Plan
Murphy Oil Corp announced that its President and Chief Executive Officer, Steve Cossé, has informed the Murphy Board of Directors that he intends to step down from that position following the completion of the previously announced plan to spin off to its stockholders its U.S. downstream operations into an independent and separately traded company. The spin-off will be effected through a distribution of the shares of Murphy's subsidiary, Murphy USA Inc., pro rata to all Murphy stockholders as of a record date to be established by Murphy's Board of Directors. Murphy will continue in the exploration and production business following the spin-off, which is expected to be completed in the second half of this year. The Murphy Board of Directors announced that it plans for Roger Jenkins to succeed Mr. Cossé as Murphy's President and Chief Executive Officer. Mr. Jenkins is currently Murphy's Executive Vice President and Chief Operating Officer. Full Article
Murphy Oil Corp Issues Q2 2013 Production Guidance; Issues Q2 2013 EPS Guidance Above Analysts' Estimates
Murphy Oil Corp announced that for the second quarter of 2013, it expects total worldwide production volumes of 202,000 barrels of oil equivalent per day. Sales volumes of oil and natural gas are projected to average 201,000 barrels of oil equivalent per day during the quarter. At the present time, the Company expect income from continuing operations in the second quarter of 2013 to range between $1.50 and $1.65 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.41 for the second quarter of 2013. Full Article
Murphy Oil Corp Issues Q2 2013 Production Guidance; Issues Q2 2013 EPS Guidance Above Analysts' Estimates
Murphy Oil Corp announced that for the second quarter of 2013, it expects total worldwide production volumes of 202,000 barrels of oil equivalent per day. Sales volumes of oil and natural gas are projected to average 201,000 barrels of oil equivalent per day during the quarter. At the present time, the Company expect income from continuing operations in the second quarter of 2013 to range between $1.50 and $1.65 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.41 for the second quarter of 2013. Full Article
Murphy Oil Corp Announces Dividend
Murphy Oil Corp announced that it has declared a quarterly dividend on the Common Stock of Murphy Oil Corporation of $0.3125 per share, or $1.25 per share on an annualized basis. The dividend is payable June 3, 2013 to holders of record May 17, 2013. Full Article
Murphy Oil Corp Announces Dividend
Murphy Oil Corp announced that it declared a quarterly dividend on the Common Stock of Murphy Oil Corporation of $0.3125 per share, or $1.25 per share on an annualized basis. The dividend is payable March 1, 2013 to holders of record February 18, 2013. Full Article
Murphy Oil Corp Issues Q1 2013 Production Guidance; Issues Q1 2013 EPS Guidance Below Analysts' Estimates
Murphy Oil Corp announced that for the first quarter of 2013, it anticipate total worldwide production volumes of 200,000 barrels of oil equivalent per day. Sales volumes of oil and natural gas are projected to average 202,000 barrels of oil equivalent per day during the quarter and expects income from continuing operations 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 the Company's downstream businesses of approximately $10 million. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.30 for the first quarter of 2013. Full Article
Murphy Oil Corp Announces $250 Million Accelerated Share Repurchase Transaction
Murphy Oil Corp announced that it has entered into a variable term, capped accelerated share repurchase transaction (the ASR) with J.P. Morgan Securities LLC to repurchase an aggregate of $250 million of the Company’s common stock. The ASR is part of the board authorized program to repurchase up to $1 billion of the Company’s stock announced on October 16, 2012. The total aggregate number of shares of Company common stock to be repurchased pursuant to the ASR will be determined by reference to the Rule 10b-18 volume-weighted price of the Company’s common stock, less a fixed discount, over the term of the ASR, subject to a minimum number of shares. The ASR is expected to be completed no later than approximately five months following execution. All shares of the Company’s common stock delivered under the ASR will be immediately retired. Full Article
Murphy Oil Corp Sells Notes In Three Maturities Totaling $1.5 Billion
Murphy Oil Corp announced 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. Full Article
Murphy Oil Corp Issues Q4 2012 Production Guidance; Issues Q4 2012 EPS Guidance In Line With Analysts' Estimates
Murphy Oil Corp announced that for the fourth quarter of 2012, it expects total worldwide production volumes of 207,000 barrels of oil equivalent per day and income from continuing operations to range between $1.10 and $1.70 per diluted share (EPS). According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.47 for the fourth quarter of 2012. Full Article
Murphy Oil Corp Announces Special Dividend; Authorizes Share Buyback Program; Sells Three Oil And Gas Fields
Murphy Oil Corp announced that it will pay a special dividend of $2.50 per share on December 3, 2012 and has authorized a share buyback program of up to $1 billion. The Company also announced that it has decided to sell three oil and gas fields in the United Kingdom. This asset sale is expected to be completed by year-end. Full Article
REFILE-UPDATE 1-Murphy Oil CEO to leave after retail business spinoff
May 6 - Murphy Oil Corp said Chief Executive Steve Cosse will step down after the completion of a spinoff of the company's retail gasoline business in the second half of this year.
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