Murphy Oil Corp. Sells Crude Oil Facilities to Calumet

by Luke Jones  on Monday, Aug. 12, 2013 10:21 am  

Calumet Specialty Products Partners LP of Indianapolis said Monday that it has purchased seven crude oil loading facilities in North Dakota and Montana from Murphy Oil Corp. of El Dorado.

According to a news release, the assets were part of Murphy's downstream segment that will soon be spun off into Murphy USA Inc., a separate, publicly traded company.

Financial terms of the transaction were not disclosed.

As part of the deal, Calumet and Murphy ended an oil supply agreement in which Murphy was supplying Calumet's refinery in Superior, Wis., with up to 10,000 barrels of crude per day.

Calumet bought that refinery from Murphy in 2011 at a price of $434 million. The sale was part of Murphy's exit from its refinery business. Murphy also sold another refinery in Meraux, La., to Valero Energy Corp. of San Antonio for $585 million.

Murphy still has a third refinery in Milford Haven, Wales, which it has been unable to sell.

 

 

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