EX-13 3 d642704dex13.htm EX-13 EX-13

Exhibit 13

Financial and Operating Highlights

 

                   % Change            % Change  
(Thousands of dollars except per share data)    2013      2012      2013–2012     2011      2012–2011  

For the Year

             

Revenues

   $ 5,390,089       $ 4,619,602         17   $ 4,278,682         8

Income from continuing operations

     888,137         806,494         10     539,198         50

Net income

     1,123,473         970,876         16     872,702         11

Cash dividends paid – normal

     235,108         228,288         3     212,752         7

                                   – special

     —           486,141         N/A        —           N/A   

Capital expenditures

     4,120,592         4,383,986         -6     2,943,812         49

Net cash provided by operating activities

     3,638,487         3,056,281         19     2,145,385         42

Average common shares outstanding – diluted (thousands)

     189,271         194,669         -3     194,512         0

At End of Year

             

Working capital

   $ 284,612       $ 699,502         -59   $ 622,743         12

Net property, plant and equipment

     13,481,055         13,011,606         4     10,475,149         24

Total assets

     17,509,484         17,522,643         0     14,138,138         24

Long-term debt

     2,936,563         2,245,201         31     249,553         800

Stockholders’ equity

     8,595,730         8,942,035         -4     8,778,397         2

Per Share of Common Stock

             

Income from continuing operations – diluted

   $ 4.69       $ 4.14         13   $ 2.77         49

Net income – diluted

     5.94         4.99         19     4.49         11

Cash dividends paid – normal

     1.25         1.175         6     1.10         7

                                   – special

     —           2.50         N/A        —           N/A   

Stockholders’ equity

     46.87         46.91         0     45.31         4

Net Crude Oil and Gas Liquids Produced – barrels per day

     135,078         112,591         20     103,160         9

United States

     48,387         26,090         85     17,148         52

Canada

     31,231         28,302         10     30,049         -6

Malaysia

     53,766         52,663         2     48,551         8

Other International

     1,694         5,536         -69     7,412         -25

Net Natural Gas Sold – thousands of cubic feet per day

     423,846         490,124         -14     457,365         7

United States

     53,212         52,962         0     47,212         12

Canada

     175,449         217,046         -19     188,787         15

Malaysia

     194,370         216,745         -10     217,440         0

United Kingdom

     815         3,371         -76     3,926         -14

Stockholder and Employee Data at December 31

             

Common shares outstanding (thousands)

     183,407         190,641         -4     193,723         -2

Number of stockholders of record

     2,598         2,361         10     2,212         7

Number of employees

     1,875         9,185         -80     8,610         7


Murphy Oil at a Glance

 

Murphy Oil Corporation (“Murphy” or “the Company”) is an international oil and gas company that conducts business through various operating subsidiaries.

The Company produces oil and/or natural gas in the United States, Canada and Malaysia and conducts exploration activities worldwide. Murphy also has an interest in a Canadian synthetic oil operation. The Company currently owns a petroleum refinery and markets petroleum products in the United Kingdom. The Company has announced its intention to sell its U.K. downstream operations. Murphy is headquartered

in El Dorado, Arkansas, and has 1,875 employees worldwide. The Company’s common stock is traded on the New York Stock Exchange (NYSE) under the ticker symbol “MUR”.

On August 30, 2013, the Company completed the separation of its U.S. downstream business. The separate, publicly owned company is known as Murphy USA Inc. and is traded on the NYSE under the ticker symbol “MUSA.”

 

 

Major Subsidiaries of Murphy Oil Corporation

 

Murphy Exploration & Production Company, through various operating subsidiaries and affiliates, is engaged in crude oil and natural gas production activities in the United States and Malaysia, and explores for oil and natural gas worldwide. The subsidiary has its headquarters in Houston, Texas, and conducts business from offices in numerous locations around the world.

Murphy Oil Company Ltd. is engaged in crude oil and natural gas exploration and production in Western Canada and offshore Eastern Canada as well as the production

of synthetic crude oil from oil sands. The subsidiary’s office is located in Calgary, Alberta, and is operated as a component of the Company’s worldwide exploration and production operation directed from Houston.

Murco Petroleum Limited is engaged in refining and marketing of petroleum products in the United Kingdom. Headquartered at St. Albans, England, Murco owns a refinery in Milford Haven, Wales, and operates a network of fueling stations in the United Kingdom. The Company has announced its intention to sell these U.K. operations.

 

 

Offices      
El Dorado, Arkansas    St. Albans, Hertfordshire, England    Ho Chi Minh City, Vietnam
Houston, Texas    Pointe-Noire, Republic of the Congo    Douala, Cameroon
Calgary, Alberta, Canada    Perth, Western Australia, Australia    Malabo, Equatorial Guinea
Kuala Lumpur, Malaysia    Jakarta, Indonesia    Paramaribo, Suriname

 

1


Dear Fellow Shareholders

 

As I reflect back on 2013, it was clearly an important year for our Company as well as a rewarding one for our shareholders. There were many highlights throughout the year headlined by the spin-off of Murphy USA Inc. We had excellent performance in Health, Safety & Environmental (HSE), exceeded production guidance, increased our proved reserves at a record pace, executed development projects and continued to grow production in our Eagle Ford Shale (EFS) asset. Our strategy of executing a global offshore portfolio that is complemented by a strong North American (NA) onshore business with a new legacy asset in the EFS will position Murphy’s shareholders well for the future.

 

We achieved our best ever annual safety performance year led by continued improvement in the NA onshore business and safely executed offshore development work in Malaysia along with continued outstanding performance at our Milford Haven Refinery in Wales.

 

Production for 2013 averaged over 205,000 barrels of oil equivalent per day (boepd), a record for our company. Production was 6% higher than 2012 and is the first year in our history where we have averaged in excess of 200,000 boepd. The price for nearly 80% of our production is based on oil prices. Murphy has a five-year compound annual production growth rate of 10%, which puts us in elite company amongst our oil company peers. The production increases were led by the growth in the EFS where we averaged over 39,000 boepd for the year, an increase of 150 percent from 2012. EFS is now the second ranked field on an overall production basis in the Company. We expect another year of strong production growth in 2014 with continued increases coming from the EFS, a full year of production from our new Malaysia developments, and the start up of the Dalmatian field in the Gulf of Mexico (GOM).

  

LOGO

 

Roger W. Jenkins

President and Chief Executive Officer

Reserves replacement for 2013 was our highest ever with an organic replacement rate of over 240%. Our year-end 2013 proved reserves of approximately 688 million barrels of oil equivalent raise our reserves production life to just over nine years.

 

We revamped our exploration program in 2013 by reorganizing the management team under the leadership of Kevin McLachlan who joined Murphy in April. Kevin has brought a new focus and strategy to our program that will yield results for our shareholders. In 2013 we had three discoveries out of nine wells drilled with these successes encountering natural gas offshore Brunei in Block CA-2 where we hold a 30% working interest. These discoveries, along with our recently announced sanction of the Block H Malaysia Floating Liquified Natural Gas project, further coupled with our current Sarawak gas project, will lead to long-term gas production with oil-linked pricing for upwards of 20 years into the future.

 

Our 2014 exploration drilling program will include another active year, highlighted by a Norphlet formation test at our Titan prospect in the GOM and the Bamboo well offshore Cameroon. We continued to replenish our prospect inventory with new country entries in the Atlantic Margin and new frontier blocks in Vietnam and Australia, where we partnered to acquire a large block in the under-explored Ceduna Basin. Murphy has a vast acreage position for a company of our size and our strategy to primarily grow organically through exploration, now supported by a strong NA onshore position, will have long term benefits for our shareholders. Our continued reserves additions and production growth prove this strategy is working.

 

2


In our global offshore business, we brought five new shallow water fields offshore Malaysia online, namely oil fields at Patricia, Serendah, South Acis and Permas and a gas field at Merapuh. These fields were brought on stream on time and on budget, and initial production has performed above expectations. We have three deepwater developments coming on production in 2014. Two of these are in Malaysia, including Siakap North-Petai and the main Kakap-Gumusut non-operated field. The third is in the GOM at the Dalmatian project which starts up in the first quarter of this year. In the first half of 2013, we closed on the sale of our U.K. upstream assets, as part of the continuous review of our global portfolio.

In our NA onshore business, the EFS continues to deliver excellent results and is on track to become the most significant field in Company history, with resource potential now in excess of 600 million barrels equivalent. We now have over 300 wells on production, a remarkable feat considering we had zero in 2009 and testament to an outstanding job by our team in developing this asset. We are expanding our down spacing work along with further technical enhancements to this “well manufacturing” process. With current down spacing plans, we will have over 1,400 locations remaining to drill, which sets up a ten year drilling program in the area. At Seal in Canada, we are moving forward with our Enhanced Oil Recovery (EOR) pilot projects. We see the Seal area as a long-term growth opportunity for the Company and we expect to see production increases towards the end of 2017 when we anticipate an improved long-term market for this heavy crude. Syncrude remains a key part of our complementary onshore business as it continues to produce with anticipated long-term reserves growth.

Our strategy of blending a high margin global offshore business with the balance and predictable nature of our NA onshore operation remains sound. The two businesses complement each other well. Our growth in the NA onshore has provided significant improvement in production per well metrics. Our ability to deliver and operate offshore developments is our calling card to obtain quality acreage and attract exploration partners. The global offshore business further allows our shareholders exposure to exploration success that I believe will be meaningful for a company of our size.

In downstream, we completed the spin-off of the U.S. retail gasoline business, Murphy USA Inc., in the third quarter. The separation was smooth and seamless and we wish Murphy USA Inc. all the best as they venture forth on their own. The sales process for our U.K. downstream assets continues and we are working to get this sale completed as soon as possible. I commend the effort of our U.K. based employees as they focus on safe, reliable operations in a difficult market environment.

 

  Income from   Capital Expenditures for   Net Hydrocarbons   Estimated Net Proved
  Continuing Operations   Continuing Operations   Produced   Hydrocarbon Reserves
  (Millions of dollars)   (Millions of dollars)   (Thousands of oil equivalent   (Millions of oil equivalent barrels)
      barrels per day)  

 

 

LOGO

 

3


In other shareholder initiatives, the Company moved forward on the approved $1 billion share repurchase program during the year. We recently completed the third tranche of $250 million share repurchase in January 2014 and have initiated another tranche of $250 million in February 2014. I see this share repurchase initiative as critical for our shareholders as we tie these purchases to the value of our proven oil-weighted reserve base as compared to global finding and developing cost benchmarks. I see the use of share repurchases as a capital allocation comparison tool going forward.

In financial results, net income for 2013 totaled $1,123 million ($5.94 per diluted share), which is the second highest on record, and up more than $152 million from 2012. Our balance sheet remains strong, ending the year with a debt-to-capital-employed ratio of 25.5%. Overall our year-end net debt to total capitalization is in very good shape amongst our E&P peers at 17.4% with total debt of $2.94 billion and global cash and invested cash of $1.12 billion. In an effort to protect cash flow and maintain our capital programs we implemented a hedging strategy in 2013 and are carrying it forward into 2014. So far in 2014, we have hedged approximately 40% of our U.S. onshore oil production at a WTI basis of over $97 per barrel for the first half of the year and 75% of our Canadian gas production for the full year at just over C$4.00 per thousand cubic feet at AECO prices.

I would like to recognize the contribution of Steven A. Cossé who retired as President and Chief Executive Officer on August 30, 2013. We owe a debt of gratitude to Steve for leading us through the repositioning of our Company. Steve will remain on the Board of Directors and we look forward to his continued sage guidance.

In August 2013, the Board added an experienced new director in T. Jay Collins, Retired President and CEO of Oceaneering International, Inc. We welcome Jay to the Board and look forward to his contributions.

Two of our Directors, Robert A. Hermes and David J.H. Smith, are retiring from the Board in May. Among multiple other roles, Bob was a member of the Executive Committee and chaired our Nominating & Governance Committee, and he greatly assisted in the process that culminated in the spin-off of Murphy USA Inc. David did yeoman’s work as chairman of our Executive Compensation Committee for many years as well as serving on the HSE Committee. Bob and David will be missed and we thank them for their many years of faithful service to our Company.

Murphy Oil is an exploration driven company with super-major offshore development ability now coupled with a newly developed NA onshore capability. These attributes make us an attractive global partner. We have a strong balance sheet that positions us well for the long term and have delivered double digit growth in production and reserves, plus continued dividend increases, over the last five years. I am honored to be handed the reins to lead Murphy into a new phase as an independent exploration and production company. I appreciate your continued support as our Company moves forward. We have the people, assets and processes in place to deliver returns to our shareholders.

 

 

LOGO

Roger W. Jenkins

President and Chief Executive Officer

February 7, 2014

El Dorado, Arkansas

 

4


Exploration and Production Statistical Summary

 

     2013      2012      2011      2010      2009      2008      2007  

Net crude oil, condensate and natural gas liquids production – barrels per day

                    

United States

     48,387         26,090         17,148         20,114         17,053         10,668         12,989   

Canada – light

     118         245         83         43         18         46         596   

heavy

     9,128         7,241         7,264         5,988         6,813         8,484         11,524   

offshore

     9,099         6,986         9,204         11,497         12,357         16,826         18,871   

synthetic

     12,886         13,830         13,498         13,273         12,855         12,546         12,948   

Malaysia

     53,766         52,663         48,551         66,897         76,322         57,403         20,367   

Republic of the Congo

     1,046         2,078         4,989         5,820         1,743         —           —     

Continuing operations

     134,430         109,133         100,737         123,632         127,161         105,973         77,295   

Discontinued operations

     648         3,458         2,423         3,295         4,678         12,281         14,227   

Total liquids produced

     135,078         112,591         103,160         126,927         131,839         118,254         91,522   

Net crude oil, condensate and natural gas liquids sold – barrels per day

                    

United States

     48,387         26,090         17,148         20,114         17,053         10,668         12,989   

Canada – light

     118         245         83         43         18         46         596   

heavy

     9,128         7,241         7,264         5,988         6,813         8,484         11,524   

offshore

     8,586         7,092         9,079         11,343         12,455         16,690         18,839   

synthetic

     12,886         13,830         13,498         13,273         12,855         12,546         12,948   

Malaysia

     54,276         54,286         48,092         68,975         72,575         61,907         16,018   

Republic of the Congo

     2,093         1,468         3,959         5,428         973         —           —     

Continuing operations

     135,474         110,252         99,123         125,164         122,742         110,341         72,914   

Discontinued operations

     621         3,372         2,299         4,177         3,607         13,513         14,688   

Total liquids sold

     136,095         113,624         101,422         129,341         126,349         123,854         87,602   

Net natural gas sold – thousands of cubic feet per day

                    

United States

     53,212         52,962         47,212         53,037         54,255         45,785         45,139   

Canada

     175,449         217,046         188,787         85,563         54,857         1,910         9,922   

Malaysia – Sarawak

     164,671         174,283         176,943         154,535         28,070         —           —     

   Kikeh

     29,699         42,462         40,497         58,157         46,583         1,399         —     

Continuing operations

     423,031         486,753         453,439         351,292         183,765         49,094         55,061   

Discontinued operations

     815         3,371         3,926         5,509         3,501         6,424         6,021   

Total natural gas sold

     423,846         490,124         457,365         356,801         187,266         55,518         61,082   

Net hydrocarbons produced – equivalent barrels1 per day

     205,719         194,278         179,388         186,394         163,050         127,507         101,702   

Estimated net hydrocarbon reserves – million equivalent barrels1,2

     687.9         604.3         534.1         455.2         439.2         402.8         405.1   

Weighted average sales prices3

                    

Crude oil, condensate and natural gas liquids – dollars per barrel

                    

United States

   $ 97.69         102.60         103.92         76.31         60.08         95.74         65.57   

Canada4 – light

     85.61         81.22         94.28         75.48         64.24         70.37         50.98   

 heavy

     46.80         46.45         57.00         49.89         40.45         59.05         32.84   

 offshore

     108.64         112.08         110.02         76.87         58.19         96.69         69.83   

 synthetic

     96.09         91.85         102.94         77.90         61.49         100.10         74.35   

Malaysia5

     94.27         97.29         90.14         60.97         55.51         87.83         74.58   

Republic of the Congo5

     109.43         107.26         103.02         74.87         69.04         —           —     

Natural gas – dollars per thousand cubic feet

                    

United States

     3.83         2.76         4.13         4.52         4.05         9.67         7.38   

Canada4

     3.09         2.62         4.07         4.23         3.09         6.40         6.34   

Malaysia – Sarawak5

     6.66         7.50         7.10         5.31         4.05         —           —     

   Kikeh

     0.24         0.24         0.24         0.23         0.23         0.23         —     

 

1  Natural gas converted at a 6:1 ratio.
2  At December 31.
3  Includes intracompany transfers at market prices.
4  U.S. dollar equivalent.
5  Prices are net of payments under the terms of the respective production sharing contracts.

 

5


U.K. Refining and Marketing Statistical Summary–Discontinued Operations

 

     2013     2012      2011     2010     2009     2008      2007  

United Kingdom refining and marketing – Unit margins per barrel

   $ (0.75     1.94         (0.67     (1.47     (0.28     3.41         (1.48

Petroleum products sold in the United Kingdom – barrels per day

                

Gasoline

     49,389        47,087         35,757        23,085        30,007        34,125         14,356   

Kerosine

     16,498        17,273         16,298        11,387        12,954        14,835         4,020   

Diesel and home heating oils

     49,378        48,595         48,893        29,710        35,721        34,560         14,785   

Residuals

     12,863        13,744         14,427        7,885        10,560        12,744         3,728   

LPG and other

     4,346        10,350         20,322        14,590        14,532        15,246         4,213   

Total

     132,474        137,049         135,697        86,657        103,774        111,510         41,102   

Crude capacity of Milford Haven, Wales refinery* – barrels per stream day

     135,000        135,000         135,000        135,000        108,000        108,000         108,000   

Milford Haven, Wales refinery inputs – barrels per day

                

Crude

     122,930        129,334         131,959        78,841        96,625        97,521         36,000   

Other feedstocks

     3,330        3,279         3,432        5,322        6,334        15,067         3,756   

Total U.K. refinery inputs

     126,260        132,613         135,391        84,163        102,959        112,588         39,756   

Milford Haven, Wales refinery yields – barrels per day

                

Gasoline

     47,025        46,100         34,171        20,889        26,902        32,290         12,397   

Kerosine

     17,056        16,941         17,038        11,374        13,789        15,065         4,500   

Diesel and home heating oils

     46,327        46,004         47,418        25,995        34,619        33,868         14,218   

Residuals

     12,508        13,922         14,185        8,296        10,388        12,585         3,641   

LPG and other

     244        5,976         19,448        14,799        13,735        15,750         4,344   

Fuel and loss

     3,100        3,670         3,131        2,810        3,526        3,030         656   

Total U.K. refining yields

     126,260        132,613         135,391        84,163        102,959        112,588         39,756   

 

* At December 31.

 

6


Board of Directors

 

LOGO  

Claiborne P. Deming

President and Chief Executive Officer, Retired, Murphy Oil Corporation, El Dorado, Arkansas. Director since 1993. Chairman of the Board since March 2012. Committees: Executive (Chair); Health, Safety & Environmental

   LOGO  

Walentin Mirosh

President, Mircan Resources Ltd., Calgary, Alberta, Canada. Director since 2011. Committees: Executive Compensation; Health, Safety & Environmental

LOGO  

Roger W. Jenkins

President and Chief Executive Officer, Murphy Oil Corporation, El Dorado, Arkansas. Director since 2013. Committees: Executive

   LOGO  

R. Madison Murphy

Managing Member, Murphy Family Management, LLC, El Dorado, Arkansas. Director since 1993. Chairman from 1994–2002. Committees: Executive; Audit (Chair)

LOGO  

Frank W. Blue

International Legal Advisor/Arbitrator, Santa Barbara, California. Director since 2003.

Committees: Audit; Nominating & Governance (Chair)

   LOGO  

Jeffrey W. Nolan

President and Chief Executive Officer, Loutre Land and Timber Company, El Dorado, Arkansas. Director since 2012. Committees: Executive Compensation; Nominating & Governance

LOGO  

T. Jay Collins

President and Chief Executive Officer, Retired, Oceaneering International, Inc., Houston, Texas. Director since 2013. Committees: Executive Compensation

   LOGO  

Neal E. Schmale

President and Chief Operating Officer, Retired, Sempra Energy, San Diego, California. Director since 2004. Committees: Audit; Executive Compensation (Chair)

LOGO  

Steven A. Cossé

President and Chief Executive Officer, Retired, Murphy Oil Corporation, El Dorado, Arkansas. Director since 2011. Committees: Executive; Health, Safety & Environmental

   LOGO  

David J. H. Smith

Chief Executive Officer, Retired, Whatman plc, Maidstone, Kent, England. Director since 2001. Committees: Executive Compensation; Nominating & Governance

LOGO  

Robert A. Hermes

Chairman of the Board, Retired, Purvin & Gertz, Inc., Houston, Texas. Director since 1999. Committees: Nominating & Governance; Health, Safety & Environmental

   LOGO  

Caroline G. Theus

President, Inglewood Land & Development Co., Alexandria, Louisiana. Director since 1985. Committees: Executive; Health, Safety & Environmental (Chair)

LOGO  

James V. Kelley

President and Chief Operating Officer, BancorpSouth, Inc., Tupelo, Mississippi. Director since 2006. Committees: Audit; Executive; Nominating & Governance

    

 

7


Murphy Oil Corporation Officers

 

Roger W. Jenkins   John W. Eckart   Allan J. Misner
President and Chief Executive Officer   Senior Vice President and Controller   Vice President, Internal Audit
Kevin G. Fitzgerald   Kelli M. Hammock   K. Todd Montgomery
Executive Vice President and Chief Financial Officer   Senior Vice President, Administration   Vice President, Corporate Planning & Services
Walter K. Compton   Tim F. Butler   E. Ted Botner
Executive Vice President and General Counsel   Vice President, Tax   Secretary
Thomas McKinlay   John W. Dumas   John B. Gardner
Executive Vice President, U.K. Downstream   Vice President, Corporate Insurance   Treasurer
Bill H. Stobaugh   Barry F.R. Jeffery  
Executive Vice President   Vice President, Investor Relations  
Principal Subsidiaries
Murphy Exploration &   Roger W. Jenkins   Keith S. Caldwell
Production Company   President   Vice President, Finance

Engages in worldwide crude oil and

natural gas exploration and production.

 

 

Eugene T. Coleman

Executive Vice President, Offshore and

International Operations

 

 

Bradley Gouge

Vice President, Canada

9805 Katy Freeway

Suite G200

Houston, Texas 77024

(281) 675-9000

 

 

Michael K. McFadyen

Executive Vice President,

North American Onshore Operations

 

 

Maria A. Martinez

Vice President, Human Resources

and Administration

  Kevin J. McLachlan   Walter K. Compton
  Executive Vice President,   Vice President and General Counsel
  Global Exploration  

 

Kevin G. Fitzgerald

Vice President

 

John W. Eckart

 

Daniel R. Hanchera

Senior Vice President,

Business Development

 
   
    Vice President
  Eric M. Hambly   E. Ted Botner
  Senior Vice President, S.E. Asia/Australia   Secretary
  Thomas J. Mireles   John B. Gardner
  Senior Vice President, North America,   Treasurer
  South America and West Africa  
Murphy Oil Company Ltd.   Michael K. McFadyen   Dennis D. Ward
Engages in crude oil and natural gas exploration and production, and extraction and sale of synthetic crude oil in Canada.   President   Vice President, Finance
 

 

Cal C. Buchanan

 

 

Kevin G. Fitzgerald

  Vice President, Joint Ventures &   Vice President
  Business Development  
4000, 520-3 Avenue SW   Brad A. Gouge   Paul Christensen
Calgary, Alberta T2P 0R3   Vice President   Controller
(403) 294-8000    
  Ronald L. McIlwrick   Kevin Black
  Vice President, Operations   Secretary
Mailing Address:     John B. Gardner
P.O. Box 2721, Station M     Treasurer
Calgary, Alberta T2P 3Y3    
Canada    
   
Murco Petroleum Limited   Thomas McKinlay   Susan Hogg

Engages in refining and marketing of petroleum products in

the United Kingdom.

 

Managing Director

 

John E. Ford

Planning & Special Projects Director

 

Supply and Refining Director

 

Simon V. Rhodes

Financial Director

4 Beaconsfield Road    
St. Albans, Hertfordshire   Jamie Goodfellow   Patricia E. Haylock
AL1 3RH, England   Marketing Director   Secretary
44-1727-892-400    

 

8


Corporate Information

 

Corporate Office

200 Peach Street

P.O. Box 7000

El Dorado, Arkansas 71731-7000

(870) 862-6411

Stock Exchange Listings

Trading Symbol: MUR

New York Stock Exchange

Transfer Agent and Registrar

Computershare Trust Company, N.A.

Toll-free (888) 239-5303

(732) 645-4155

(Address for overnight delivery)

211 Quality Circle

Suite 210

College Station, TX 77845

(Address for first class mail,

registered mail and certified mail)

P.O. Box 30170

College Station, TX 77842-3170

Electronic Payment of Dividends

Shareholders may have dividends deposited directly into their bank accounts by electronic funds transfer. Authorization forms may be obtained by contacting Computershare as described under Transfer Agent and Registrar above.

E-mail Address

murphyoil@murphyoilcorp.com

Web Site

www.murphyoilcorp.com

Murphy Oil’s website provides frequently updated information about the Company and its operations, including:

 

    News releases

 

    Annual report

 

    Quarterly reports

 

    Live webcasts of quarterly conference calls

 

    Links to the Company’s SEC filings

 

    Stock quotes

 

    Profiles of the Company’s operations

Annual Meeting

The annual meeting of the Company’s stockholders will be held at 10:00 a.m. on May 14, 2014, at the South Arkansas Arts Center, 110 East 5th Street, El Dorado, Arkansas. A formal notice of the meeting, together with a proxy statement and proxy form, will be provided to all shareholders.

Inquiries

Inquiries regarding shareholder account matters should be

addressed to:

E. Ted Botner

Manager, Law and Corporate Secretary

Murphy Oil Corporation

P.O. Box 7000

El Dorado, Arkansas 71731-7000

tbotner@murphyoilcorp.com

Members of the financial community should direct their inquiries to:

Barry Jeffery

Vice President, Investor Relations

Murphy Oil Corporation

P.O. Box 7000

El Dorado, Arkansas 71731-7000

(870) 864-6501

bjeffery@murphyoilcorp.com