|
|
| |
| Fri, Aug. 29, 2008 |  |
 |
|
||
| |
Murphy Oil earnings more than double in fourth quarter Thursday, Jan 31, 2008 Arkansas News Bureau LITTLE ROCK - Murphy Oil Corp. reported Wednesday that its fourth-quarter earnings were $206.1 million, about 133 percent greater than earnings of $88.4 million in the same quarter last year. Record oil and natural gas prices as well as higher production levels were responsible for much of the earnings increase, the El Dorado-based company reported. Oil prices hit $100 per barrel during the quarter and averaged more than $90 per barrel. In last year's fourth quarter, oil prices averaged around $60 per barrel. Several one-time charges reduced the company's fourth quarter net income by a total of $40 million. On the year, Murphy's earnings totaled $766.5 million, compared to earnings of $644.7 million for 2006. Shares of Murphy Oil Corp. (NYSE: MUR) closed Wednesday at $75.23, up $1.86 per share for a 2.5 percent gain. |
