Murphy Oil (MUR) Unit to Take $370M non-Cash Charge in Q4 Related to Azurite Field
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Price: $37.63 -1.7%
Financial Fact:
Depreciation, depletion and amortization: 255.9M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Depreciation, depletion and amortization: 255.9M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Murphy Oil Corporation (NYSE: MUR) announced today that its wholly owned subsidiary, Murphy West Africa, Ltd. will take a non-cash charge to earnings of approximately $370 million in the fourth quarter 2011 related to its Azurite field located offshore Republic of the Congo as the result of an asset impairment due to lower than expected production rates and ultimate oil recovery from the field.
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