Murphy Oil Speeds $250M Share Repurchase Program

by Luke Jones  on Tuesday, Dec. 11, 2012 10:00 am  

Murphy Oil Corp. of El Dorado said Monday that it was entering into a share repurchase transaction with J.P. Morgan Securities LLC to repurchase an aggregate of $250 million of Murphy stock.

According to a news release, the transaction is part of a program Murphy announced in October which would let it buy back up to $1 billion of its own stock.

The transaction is expected to be completed in about five months, the release said, and all shares delivered under the transaction will be immediately retired.

 

 

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