Murphy Oil Sells Malaysia Assets for $1.1B

Ticker: MUR · Form: 8-K · Filed: Sep 3, 2024 · CIK: 717423

Murphy Oil CORP 8-K Filing Summary
FieldDetail
CompanyMurphy Oil CORP (MUR)
Form Type8-K
Filed DateSep 3, 2024
Risk Levelmedium
Pages4
Reading Time4 min
Key Dollar Amounts$1.00
Sentimentbullish

Sentiment: bullish

Topics: divestiture, asset-sale, international-operations

Related Tickers: PTTEP.BK

TL;DR

Murphy Oil selling Malaysia for $1.1B, closing H1 2025. Big cash infusion incoming.

AI Summary

Murphy Oil Corporation announced on September 3, 2024, that it has entered into a definitive agreement to sell its entire stake in the Malaysia Assets to a subsidiary of PTT Exploration and Production Public Company Limited for $1.1 billion. The transaction is expected to close in the first half of 2025, subject to customary closing conditions.

Why It Matters

This significant divestiture allows Murphy Oil to focus on its core operations and return capital to shareholders, while PTT E&P expands its international footprint.

Risk Assessment

Risk Level: medium — The sale is subject to customary closing conditions, and the timing of the closing could impact the immediate financial benefits.

Key Numbers

Key Players & Entities

FAQ

What specific assets are included in the sale of Murphy Oil's Malaysia operations?

The filing states the sale includes Murphy Oil's entire stake in the Malaysia Assets, but does not detail the specific fields or infrastructure.

Who is the buyer of Murphy Oil's Malaysia assets?

The buyer is a subsidiary of PTT Exploration and Production Public Company Limited.

What is the total value of the transaction?

The definitive agreement is for $1.1 billion.

When is the transaction expected to close?

The transaction is expected to close in the first half of 2025.

Are there any specific conditions that must be met for the sale to be completed?

Yes, the transaction is subject to customary closing conditions.

Filing Stats: 1,114 words · 4 min read · ~4 pages · Grade level 14.8 · Accepted 2024-09-03 16:31:08

Key Financial Figures

Filing Documents

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. Beginning on September 4, 2024, members of management of Murphy Oil Corporation (the "Company"), including Roger W. Jenkins, Chief Executive Officer, and Kelly L. Whitley, Vice President, Investor Relations and Communications, will host investor meetings, including in connection with the Company's presentation at the Barclays CEO Energy-Power Conference. Attached hereto as Exhibit 99.1 is a copy of the presentation prepared by the Company in connection therewith. The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing. This Current Report on Form 8-K, including the information furnished pursuant to Item 7.01 and the related Item 9.01 hereto, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as "aim", "anticipate", "believe", "drive", "estimate", "expect", "expressed confidence", "forecast", "future", "goal", "guidance", "intend", "may", "objective", "outlook", "plan", "position", "potential", "project", "seek", "should", "strategy", "target", "will" or variations of such words and other similar expressions. These statements, which express management's current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company's future operating results or activities and

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits 99.1 Murphy Oil Corporation Presentation dated September 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 3, 2024 MURPHY OIL CORPORATION By: /s/ Paul D. Vaughan Name: Paul D. Vaughan Title: Vice President and Controller 3

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