We advised Murphy Oil on its debt offering

Davis Polk advised Murphy Oil Corporation in connection with an SEC-registered offering of $500 million aggregate principal amount of 6.500% notes due 2034. Murphy Oil used the net proceeds from the offering to fund the redemption in full of its 5.875% notes due 2027 and its 6.375% notes due 2028, and it will use the remainder to, repay outstanding borrowings under its revolving credit facility and for general corporate purposes.

Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy’s foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company’s current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d’Ivoire.

The Davis Polk capital markets team included partner Joseph A. Hall, counsel John H. Runne and associate David J. Kilduff. Partner William A. Curran and associate Bryce Maxey provided tax advice. Associate Rebecca Sattaur provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

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