Mar. 01 -  Murphy Announces Sale of Canadian Assets.

Source Press Release
Company Murphy Oil Corporation 
Tags Pipelines/ tankers/ distribution, Strategy - Corporate
Date March 01, 2001

Murphy Oil Corporation has announced it has entered into an agreement, subject to conditions, with  Plains All American Pipeline, L.P. for the sale of Murphy’s Canadian pipeline and trucking operation for $163 million, including inventory. The transaction will result in Murphy recognizing a special after-tax gain of approximately $69 million. The agreement is expected to close within the next 45 to 60 days.

The company has stated that the sale reflects their continuing efforts to rationalize non-core assets.

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