Murphy Oil Corp. CEO Roger W. Jenkins stayed at No. 2 among the best-paid officers at Arkansas’ public companies, earning nearly $13.4 million last year as the El Dorado oil exploration and production giant reversed three straight years of heavy losses with a $411 million net profit.
Jenkins, whose pay was up from $12.99 million in 2017, trails only Walmart’s Doug McMillon in the public corporation pay sweepstakes. McMillion, CEO of the Bentonville company that’s the world’s largest retailer, was paid $22.8 million in 2017.
Compensation figures for Murphy Oil’s named executive officers were included in the company’s proxy statement filed Friday with the Securities & Exchange Commission. David R. Looney, who became executive vice president and CFO on March 1, reaped $4.2 million. John W. Eckart, a former executive vice president who retired last spring, was paid $2.16 million; EVP Eugene T. Coleman had $4.4 million in total compensation last year, up from $3.7 million in 2017.
Another executive vice president, Michael K. McFayden gathered $3.5 million, up from $2.7 million a year before. Walter K. Compton, EVP and general counsel, was paid $2.9 million, down a bit from 2017’s $3.4 million.
The proxy came only a day after Murphy Oil announced plans to sell its major offshore assets in Malaysia to PTT Exploration & Production of Thailand for $2.1 billion. The company’s stock closed up Friday at $28.52 per share.
Murphy Oil will hold its annual meeting of stockholders at 10 a.m. May 8 at South Arkansas Arts Center in El Dorado.