Mar. 01 - Murphy Oil Replaces 209% of Production.

Source Press Release
Company Murphy Oil Corporation 
Tags Strategy - Upstream, Strategy - Corporate
Date March 07, 2001

Murphy Oil Corporation has announced that it increased proved reserves for the tenth consecutive year by adding over 79 million barrels of oil equivalent (BOE), equal to 209% of worldwide hydrocarbon production in 2000. At year-end, the Company’s proved reserves totaled a Company record 442 million BOE, an increase of over 10% from the year-end 1999 level.

Murphy expects worldwide production for the first quarter to average approximately 110,000 barrels of oil equivalent a day, up 3% from the fourth quarter of 2000. The increase is largely attributable to volumes associated with the recently completed Beau Canada acquisition.

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