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): February 7, 2019
MURPHY OIL CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware |
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1-8590 |
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71-0361522 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
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300 Peach Street |
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P.O. Box 7000, El Dorado AR |
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71730-7000 |
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(Address of principal executive offices) |
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(Zip Code) |
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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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 7, 2019, Murphy Oil Corporation (the “Company”) announced the retirement effective February 28, 2019, of Eugene T. (Gene) Coleman, Executive Vice President, Exploration & Business Development, of the Company. Upon his retirement, Mr. Coleman will enter into a consultancy agreement with the Company to serve as a consultant to the Company for a one-year period commencing on April 1, 2019, subject to earlier termination pursuant to its terms. The agreement will provide that Mr. Coleman will receive $30,000 per month and will contain standard industry provisions including non-compete and non-solicitation of Company employees’ restrictions.
Upon Mr. Coleman’s retirement, Michael K. (Mike) McFadyen, Executive Vice President, Offshore, will assume oversight of the Company’s exploration strategies and David R. Looney, Executive Vice President & Chief Financial Officer, will assume oversight of the Company’s business development strategies.
A full text of a news release announcing Mr. Coleman’s retirement is attached as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
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(d) |
Exhibits |
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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.
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MURPHY OIL CORPORATION |
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By: |
/s/ Christopher D. Hulse |
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Christopher D. Hulse |
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Vice President and Controller |
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Date: February 7, 2019
Exhibit Index
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99.1 |
MURPHY OIL CORPORATION ANNOUNCES LEADERSHIP CHANGES
EL DORADO, Arkansas, February 7, 2019 – Murphy Oil Corporation (NYSE: MUR)
announced today that Eugene T. (Gene) Coleman, Executive Vice President, Exploration & Business Development, has elected to retire effective February 28, 2019, after 17 years of service at Murphy and more than 38 years of energy industry experience. At that time, the responsibility for Exploration will be assumed by Michael K. (Mike) McFadyen, Executive Vice President, Offshore, and the responsibility for Business Development will be assumed by David R. Looney, Executive Vice President & Chief Financial Officer.
Mr. Coleman joined Murphy in 2001 as Subsea Systems Manager and quickly earned roles with increasing responsibilities abroad and domestically, culminating in being named Executive Vice President, Offshore in 2016 and then transitioning to his current role in 2018. As a member of the company’s executive leadership team, Mr. Coleman has been instrumental in building and restructuring the offshore and exploration organizations and, most recently, was a key player in negotiating and closing the Gulf of Mexico transaction with Petrobras. He is widely recognized for his longstanding commitment to Murphy and the company’s multi-decade success.
“On behalf of the company and the Board of Directors, I want to thank Gene for his many years of service and wish him all the best in retirement. Gene is an exceptional leader who has provided sound strategic advice and guidance in managing the vast array of operations for the company, and his contributions will be greatly missed. Both Mike and David are key members of the leadership team and are poised for continued success with their respective new responsibilities," stated Roger Jenkins, President and Chief Executive Officer.
“As I am excited to begin the next chapter of my life,” Coleman commented, “I am optimistic for Murphy as it enters this year with a solid portfolio of assets and robust business opportunities, a strong leadership team and exceptional, devoted people. Over my lengthy career in the oil and natural gas business, I have been afforded extensive opportunities to work with wonderful people around the globe. I will be leaving behind a great company,” Coleman continued.
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ABOUT MURPHY OIL CORPORATION
Murphy Oil Corporation is a global independent oil and natural gas exploration and production company. The company’s diverse resource base includes offshore production in Southeast Asia, Canada and Gulf of Mexico, as well as North America onshore plays in the Eagle Ford Shale, Kaybob Duvernay and Montney. Additional information can be found on the company’s website at http://www.murphyoilcorp.com.
Investor Contacts:
Kelly Whitley, kelly_whitley@murphyoilcorp.com, 281-675-9107
Bryan Arciero, bryan_arciero@murphyoilcorp.com, 832-319-5374
Emily McElroy, emily_mcelroy@murphyoilcorp.com, 870-864-6324
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