UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 1, 2009
MURPHY OIL CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 1-8590 | 71-0361522 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| 200 Peach Street P.O. Box 7000, El Dorado, Arkansas |
71731-7000 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code 870-862-6411
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01. | Other Events of Importance to Security Holders |
The following information is furnished pursuant to Item 8.01, “Other Events of Importance to Security Holders.”
On October 1, 2009, Murphy Oil Corporation issued a press release announcing the acquisition of a corn-based ethanol plant in Hankinson, North Dakota on October 1, 2009. The full text of this press release is attached hereto as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits |
| (d) | Exhibits |
| 99.1 | A news release dated October 1, 2009 announcing the acquisition of a corn-based ethanol plant in Hankinson, North Dakota on October 1, 2009 is attached hereto as Exhibit 99.1. |
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MURPHY OIL CORPORATION | ||
| By: | /s/ JOHN W. ECKART | |
| John W. Eckart | ||
| Vice President and Controller | ||
Date: October 1, 2009
Exhibit Index
99.1 Press release dated October 1, 2009, as issued by Murphy Oil Corporation.
Exhibit 99.1
MURPHY OIL ANNOUNCES ACQUISITION OF ETHANOL PLANT
EL DORADO, Arkansas, October 1, 2009 – Murphy Oil Corporation (NYSE:MUR) announced that through a subsidiary, it has purchased a corn-based ethanol plant located in Hankinson, North Dakota.
The plant, which initially began operating in July 2008 before being idled in October 2008, has an annual production capacity of 110 million gallons. The purchase price of $92 million will be financed primarily through non-recourse debt offered via the sellers. Additionally, an estimated $15 million in working capital will be invested into the facility.
Murphy Oil Corporation’s President and Chief Executive Officer, David M. Wood, said, “We are adding this capability to supplement our growing North American fuels business. It also marks our initial entry into the manufacture of bio-fuels. Given the current ethanol mandates and our subsequent blending needs, having more of a presence in the supply chain better balances our business.” He also added, “This plant is favorably located near the feedstock supply and has accessible rail service for carrying the finished product. We should see first production shortly.”
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements include, but are not limited to, the volatility and level of crude oil and natural gas prices, the level and success rate of our exploration programs, our ability to maintain production rates and replace reserves, political and regulatory instability, and uncontrollable natural hazards. For further discussion of risk factors, see Murphy’s 2008 Annual Report on Form 10-K on file with the U.S. Securities and Exchange Commission. Murphy undertakes no duty to publicly update or revise any forward-looking statements.
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