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MURPHY OIL CORPORATION ANNOUNCES ALLOCATION OF TAX BASIS FOR THE SPIN-OFF OF MURPHY USA INC.

EL DORADO, Arkansas, September 4, 2013 - Murphy Oil Corporation (NYSE:MUR) announced today the allocation of tax basis resulting from the tax-free spin-off Murphy USA Inc.

Based on the relative fair market values of the respective companies on September 3, 2013, the first day of trading after distribution, 13.89 percent of a stockholder's tax basis in Murphy Oil Corporation Common Stock should be allocated to the shares of Common Stock in Murphy USA Inc. received pursuant to the distribution described in the Information Statement of Murphy USA Inc. dated August 21, 2013.  A summary of material federal income tax consequences is included in the Information Statement beginning on page 41.

A copy of the Form 8937, Report of Organizational Actions Affecting Basis of Securities, is available in the Investor Relations section of Murphy Oil Corporation's website at www.murphyoilcorp.com.

For further information contact:  Barry Jeffery at (870) 864-6501.


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