NYSE:MUROil and Gas
Is Murphy Oil (MUR) Quietly Trading Exploration Upside for Balance Sheet Strength?
Murphy Oil Corporation has completed a US$500,000,000 offering of 6.500% notes due 2034 and outlined plans to redeem existing notes, reduce revolving credit facility borrowings, and fund general corporate purposes, while separately reporting that its Civette-1X exploration well offshore Cote d'Ivoire encountered non-commercial hydrocarbons.
Although Civette-1X did not yield commercial volumes, Murphy Oil’s continued focus on the Caracal and Bubale prospects, alongside refinancing higher-cost...