Jun 07 - Murphy Oil Corporation Announces Completion of Acquisition of Canadian Properties

Source Company Web Site
Company Murphy Oil Corporation 
Tags Deals, Strategy - Corporate
Date June 11, 2007

 Murphy Oil Corporation (NYSE:MUR) announced today that its wholly-owned subsidiary, Murphy Oil Company Ltd., has acquired the interests of  Bear Ridge Resources Ltd. in the Tupper area, an undeveloped Montney natural gas play in British Columbia, for consideration of C$155 million.

Claiborne P. Deming, Murphy Oil Corporation President and Chief Executive Officer stated, “Murphy will operate this property with a high working interest (97%). Tupper is the type of property that fits very well with our previously announced strategy of acquiring new entry opportunities to add to our upstream portfolio.”

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