Murphy Oil (MUR) Declares $0.35 Quarterly Dividend; Updats on Operations; Announces Exec Changes
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S&P Lowers Outlook on Murphy Oil (MUR) to Negative; Ramp Up in Production Needed
October 3, 2014 11:53 AM EDTStandard & Poor's Ratings Services revised its outlook on El Dorado, Ark.-based Murphy Oil (NYSE: MUR) (Murphy) to negative from stable. We affirmed all of our ratings on the company, including our 'BBB' corporate credit rating and 'BBB' issue ratings on the senior unsecured debt.
"The negative outlook reflects the potential for a downgrade if Murphy Oil does not accelerate the pace of production in 2015," said Standard & Poor's credit analyst Mark Salierno. To do so, the company would need to successfully address operating difficulties in Malaysia and Canada that resulted in... More
