Apr 04 - Sale of Western Canada Conventional Oil And Natural Gas Properties

Source Press Release
Company Murphy Oil Corporation 
Tags Upstream Activities
Date April 08, 2004

Murphy Oil Corporation announces that its Canadian subsidiaries have entered into binding agreements which will results in the disposition, effective April 1, 2004, of most of its Western Canadian conventional assets as previously announced for total proceeds of C$829.5 million. This sale includes year end 2003 proved reserves (net of royalty) of approximately 46 million barrels of oil equivalent from heavy oil, light oil and natural gas properties. Closing of the transaction is expected before the end of the second quarter and will be subject to due diligence provisions and normal regulatory approvals. Waterous & Co. served as Murphy’s advisors in this transaction.

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