23 Jan 2026debt financing● Neutral
Murphy closed its offering of $500 million in new 6.500% notes due 2034, completing the refinancing that funds the redemption of its 2027 and 2028 note series.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
8 Jan 2026debt financing● Neutral
Murphy launched a $500 million senior notes offering due 2034, with proceeds earmarked to fully redeem both its remaining 5.875% notes due 2027 and its 6.375% notes due 2028 and to pay down its revolving credit facility.
6 Jan 2026debt financing▲ GoodMajor
Murphy expanded its revolving credit facility from $1.35 billion to $2.00 billion and extended its maturity from October 2029 to January 2, 2031. It also announced that it had drilled the Hai Su Vang-2X appraisal well in Block 15-2/17, offshore Vietnam.
6 Dec 2024debt financing● Neutral
Murphy partially redeemed $79 million of its 5.875% notes due 2027, continuing routine liability management.
7 Oct 2024debt financing● Neutral
Murphy replaced its revolver again with a larger $1.2 billion facility maturing October 2029, with a further-improved 3.25x maximum leverage covenant.
3 Oct 2024debt financing● Neutral
Murphy closed a new $600 million offering of 6.000% notes due 2032, continuing its pattern of rolling forward debt maturities.
15 Sept 2023debt financing● Neutral
Murphy said it would issue a notice to redeem all of its outstanding 5.750% senior notes due 2025. Redemption was set for October 15, 2023, with payment on October 16.
18 Nov 2022debt financing● Neutral
Murphy entered an $800 million senior unsecured revolving credit facility maturing in November 2027 and terminated its November 2018 credit agreement with JPMorgan. Until it reaches investment-grade ratings, it must keep leverage at or below 3.50x and interest coverage at or above 2.50x.
31 Oct 2022debt financing● Neutral
Murphy partially redeemed $200 million of its 5.750% notes due 2025 (the notes originally sold in 2017), continuing its ongoing deleveraging.
4 Aug 2022dividend declaration▲ GoodMajor
Murphy raised its quarterly dividend again, to $0.25/share ($1.00 annualized) - a 43% increase from the prior quarter and double what it paid a year earlier, reflecting sustained high commodity prices.
20 July 2022debt financing● Neutral
Murphy said it would issue a notice to redeem all of its remaining outstanding 6.875% senior notes due 2024, with the redemption set for August 19, 2022, at the indenture's redemption price plus accrued interest.
2 May 2022debt financing● Neutral
Murphy announced it would redeem $200 million of its 6.875% senior notes due 2024 on June 2, 2022, at 101.719% of principal plus accrued interest. This was a further partial paydown of the 2024 notes.
7 Apr 2022dividend declaration▲ GoodMajor
Murphy raised its quarterly dividend 17% to $0.175/share ($0.70 annualized), a 40% increase from a year earlier, as high oil and gas prices drove strong cash flow.
30 Mar 2022drilling progress report▼ Bad
Murphy's Cutthroat-1 exploration well offshore Brazil (Sergipe-Alagoas Basin), in which it holds a 20% non-operated interest, came up dry.
2 Nov 2021debt financing● Neutral
Murphy issued notice that it would redeem another $150 million of its 6.875% senior notes due 2024 on December 2, 2021, at 101.719% of principal plus accrued interest.
16 July 2021debt financing● Neutral
Murphy partially redeemed $150 million of its 6.875% notes due 2024, continuing to pay down debt as oil prices recovered.
5 Mar 2021debt financing● Neutral
Murphy closed a $550 million offering of 6.375% notes due 2028 and issued redemption notices for all of its 4.000% and 3.700% senior notes due 2022 ($259.3 million and $317.1 million outstanding), with redemption set for April 4, 2021.
2 Apr 2020dividend declaration▼ BadMajor
Murphy cut its quarterly dividend 50% to $0.125 per share from $0.25, and lowered its 2020 capital plan midpoint to $780 million from $950 million. It also reduced executive salaries and directors' cash retainers.
12 July 2019asset acquisition disposition▲ GoodMajor
Murphy completed its exit from Malaysia, selling its Sabah and Sarawak subsidiaries to PTTEP for about $2.035 billion and booking roughly a $1.0 billion gain - completing a full pivot of the company's portfolio toward the U.S. Gulf of Mexico.
5 June 2019asset acquisition disposition▲ GoodMajor
Murphy closed its acquisition of 26 deepwater Gulf of Mexico blocks from LLOG for $1.227 billion cash (after closing adjustments), funded partly through a new $500 million term loan; up to $250 million more may be owed based on future results.
23 Apr 2019material agreement▲ GoodMajor
Weeks after agreeing to exit Malaysia, Murphy agreed to acquire deepwater Gulf of Mexico assets from LLOG Exploration for $1.375 billion cash plus up to $250 million contingent consideration - redeploying the Malaysia proceeds into more U.S. Gulf of Mexico scale.
21 Mar 2019material agreement▲ GoodMajor
Murphy agreed to sell its entire Malaysia business (its Sabah and Sarawak subsidiaries) to Thailand's PTTEP for US$2.127 billion cash plus up to $100 million contingent on future drilling results - a full exit from the country, expected to close mid-2019.
3 Dec 2018asset acquisition disposition▲ GoodMajor
Murphy closed its Gulf of Mexico joint venture with Petrobras America: Murphy contributed its Dalmatian, Clipper, Front Runner, Habanero, Kodiak, Tahoe and Thunder Hawk fields while Petrobras contributed higher-profile fields including Lucius, St. Malo, Cascade and Chinook, with Murphy paying $900 million cash to balance the exchange. Murphy ended up operating the combined venture with an 80% interest (Petrobras 20%), funded partly by a new $1.6 billion revolving credit facility that replaced its prior one.
11 Oct 2018joint venture update▲ GoodMajor
Murphy agreed to combine its Gulf of Mexico producing assets with Petrobras America's in a new joint venture, with Murphy operating; it also amended its credit facility to accommodate the deal (loosening collateral and liquidity requirements). Expected to close by year-end 2018.
20 Nov 2017material agreement● Neutral
Murphy amended its revolving credit facility, extending its maturity to August 2021, reducing fees and interest margins, and giving itself more headroom by raising the maximum leverage ratio covenant from 3.75x to 4.00x.
4 Aug 2017debt financing● Neutral
Murphy Oil called for redemption of all $550 million of its 2.500% notes due 2017 and priced $550 million of new 5.750% notes due 2025 to replace them - routine refinancing (this is simply where Murphy's cached SEC filing history in this database begins, not the company's founding).