Murphy Oil (MUR) Posts Q4 Loss of $3.41/Share

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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 EST

Murphy 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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