MURPHY OIL CORP
			Symbol			MUR

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Murphy Oil Announces Preliminary Quarterly Earnings

2009-11-04 16:44 ET - News Release

Company Website: http://www.murphyoilcorp.com
EL DORADO, Ark. -- (Business Wire)

Murphy Oil Corporation (NYSE: MUR) announced today that net income in the third quarter of 2009 was $188.9 million, $0.98 per diluted share, compared to net income of $584.4 million, $3.04 per diluted share, in the third quarter of 2008. The Company’s income decreased in 2009 compared to 2008 due to significantly lower sales prices for oil and natural gas produced in the exploration and production operations and lower earnings from the refining and marketing operations.

For the first nine months of 2009, net income totaled $518.8 million, $2.70 per diluted share, compared to $1.61 billion, $8.39 per diluted share, for the same period in 2008. The first nine months of 2009 included income from discontinued operations of $97.8 million, $0.51 per diluted share, which arose primarily from a gain on sale of the Company’s operations in Ecuador in March 2009. The 2008 period included after-tax gains on sale of Canadian assets totaling $108.3 million, $0.57 per diluted share, which is included in continuing operations.

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