Murphy Oil Corp
(NYSE: MUR)
62.71
-0.89
-1.40%
-0.89
-1.40%
MORE ON MUR
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Murphy Oil Corporation |
| Industry: | Oil & Gas E&P |
| Employees: | 9,185 |
DESCRIPTION
| Murphy Oil Corporation was originally incorporated in Louisiana in 1950 as Murphy Corporation. It was reincorporated in Delaware in 1964, at which time it adopted the name Murphy Oil Corporation and was reorganized in 1983 to operate mainly as a holding company of its various businesses. It is an oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom. The Company operations are classified into two business activities: 'Exploration and Production' and 'Refining and Marketing.' For reporting purposes, Murphy's exploration and production activities are subdivided into six geographic segments, including the United States, Canada, Malaysia, the United Kingdom, Republic of the Congo and all other countries. The Company's refining and marketing activities are subdivided into geographic segments for North America and United Kingdom. The Company's exploration and production business explores for and produces crude oil, natural gas and natural gas liquids worldwide. The Company's exploration and production management team in Houston, Texas directs the Company's worldwide exploration and production activities. The Company's crude oil, condensate and natural gas liquids production in 2011 averaged 103,160 barrels per day, a decrease of 19% compared to 2010. The decrease was primarily due to lower 2011 oil production at the Kikeh field, offshore Sabah Malaysia, where several wells were shut-in for a portion of the year for well work due to sand production issues. The Company's refining and marketing businesses are located in the United States and the United Kingdom and mainly consist of operations that refine crude oil and other feedstocks into petroleum products such as gasoline and distillates, buy and sell crude oil and refined products and transport and market petroleum products. Murphy Oil USA, Inc. 'MOUSA', a wholly owned subsidiary of Murphy Oil Corporation, owns and operates two refineries in the United States. The Company operates in the oil and gas industry and experiences intense competition from other oil and gas companies, which include state-owned foreign oil companies, major integrated oil companies, independent producers of oil and natural gas and independent refining companies. The Company's businesses are subject to various U.S. federal, state and local environmental, health and safety laws and regulations and are also subject to similar laws and regulations in other countries in which it operates. |
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