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MarketScreener Homepage  >  Equities  >  Nyse  >  Murphy Oil Corporation    MUR

MURPHY OIL CORPORATION

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MURPHY OIL CORP /DE : Completion of Acquisition or Disposition of Assets (form 8-K)

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07/12/2019 | 06:05am EDT
Item 2.01.  Completion of Acquisition or Disposition of Assets
On July 10, 2019, Murphy Oil Corporation ("Murphy Oil") announced its subsidiary
closed the sale to divest the fully issued share capital of the entities
primarily conducting Murphy's operations in Malaysia to a subsidiary of PTT
Exploration and Production Public Company Limited ("PTTEP"). The transaction was
previously announced on March 21, 2019, with an effective economic valuation
date of January 1, 2019. After closing adjustments, Murphy received proceeds of
approximately US$2.035 billion, and expects to report a gain on the sale of
approximately $1.0 billion. Murphy does not anticipate tax liabilities related
to the transaction.
Item 8.01.  Other Events
On July 10, 2019, Murphy Oil issued a press release announcing the completion of
the sale of its Malaysia assets. The full text of the press release is filed as
Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference
into this Item 8.01.
Item 9.01. Financial Statements and Exhibits
(b) Pro Forma Financial Information
The unaudited pro forma condensed consolidated balance sheet of Murphy Oil dated
as of March 31, 2019 and the unaudited pro forma condensed consolidated
statements of operations of Murphy Oil for the three months ended March 31, 2019
and for the year ended December 31, 2018 are filed as Exhibit 99.2 to this
Current Report on Form 8-K.

(d) Exhibits

  99.1     Press release issued by Murphy Oil Corporation, dated July
         10, 2019, announcing the completion of the sale of the
         Company's assets in Malaysia to PTTEP.
  99.2     Unaudited pro forma condensed consolidated balance sheet of
         Murphy Oil dated as of March 31, 2019 and the unaudited pro
         forma condensed consolidated statements of operations of
         Murphy Oil for the three months ended March 31, 2019 and for
         the yeard ended December 31, 2018, 2017, and 2016.



--------------------------------------------------------------------------------


                                   Signature

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.

                    MURPHY OIL CORPORATION

Date: July 11, 2019

                    By: /s/ Christopher D. HulseChristopher D. Hulse
                        Vice President and Controller



--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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