MURPHY OIL CORPORATION ANNOUNCES PRELIMINARY FOURTH QUARTER AND FULL YEAR 2015 FINANCIAL AND OPERATING RESULTS
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Murphy Oil (MUR) Unit Enters Agreement to Divest Montney Midstream Assets in C$538M Deal
January 27, 2016 5:21 PM ESTMurphy Oil Corporation (NYSE: MUR) 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 existing infrastructure capable of processing up to 320 million cubic feet per day. Total cash consideration to Murphy upon closing of the transaction will be C$538 million.
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Murphy Oil (MUR) Posts Q4 Loss of $3.41/Share
January 27, 2016 5:15 PM ESTMurphy Oil (NYSE: MUR) reported Q4 EPS of ($3.41), which may not compare to the analyst estimate of ($1.20).
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... More
