Murphy Acquires Canadian Properties

Murphy Oil Corp. said that its wholly owned subsidiary, Murphy Oil Co. 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 Corp. 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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Brent Crude Oil : $50.75/BBL 0.09%
Light Crude Oil : $47.73/BBL 0.50%
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