Murphy Oil Responds to Third Point Investor Letter

Murphy Oil Responds to Third Point Investor Letter

EL DORADO, Ark.--(BUSINESS WIRE)-- Murphy Oil Corporation (NYSE: MUR  ) said today that it has an ongoing dialogue with its shareholders and that the Company is focused on maximizing long-term value for all shareholders.

As part of this dialogue, it recently met with a number of investors including Third Point LLC. These and other investors have made a variety of suggestions with regard to the Company’s portfolio and the Company values their input.

“The Board and management have been working to evaluate opportunities to illuminate the value in our stock price for the benefit of all of our shareholders,” said Claiborne Deming, Chairman of the Board.

The Company will continue to keep all shareholders informed with respect to this evaluation.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements include, but are not limited to, the volatility and level of crude oil and natural gas prices, the level and success rate of our exploration programs, our ability to maintain production rates and replace reserves, customer demand for our products, political and regulatory instability, and uncontrollable natural hazards. For further discussion of risk factors, see Murphy’s 2011 Annual Report on Form 10-K on file with the U.S. Securities and Exchange Commission. Murphy undertakes no duty to publicly update or revise any forward-looking statements.



Investor Contact:
Murphy Oil Corporation
Barry Jeffery, 870-864-6501
or
Media Contact:
Brunswick Group
Steve Lipin/Michael France, 212-333-3810
Internet:http://www.murphyoilcorp.com
Email: murphyoil@murphyoilcorp.com

KEYWORDS:   United States  North America  Arkansas

INDUSTRY KEYWORDS:

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2043854, ~/Articles/ArticleHandler.aspx, 11/27/2014 5:16:53 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...