Murphy Oil reports no revolver borrowings following sale of Malaysia operations

By Rebecca Melvin

New York, July 10 – Murphy Oil Corp. said it has no revolver borrowings and more than $2 billion in liquidity following the previously-announced sale of its Malaysia operations to PPT Exploration and Production Public Co. Ltd., according to a company release.

Murphy will receive proceeds of about $2.035 billion from the sale, which was announced on March 21, with an effective date of Jan. 1.

Also as reported last month, Murphy subsidiary Murphy Exploration & Production Co. paid $1.23 billion to close its previously announced strategic deep-water Gulf of Mexico acquisition, which was funded primarily through the company’s $1.6 billion revolver and other sources of liquidity.

The oil and gas exploration and production company is based in El Dorado, Ark.

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