Murphy Oil Seeks Sale of Malaysia Oil and Gas Assets


Time to take those CVs out for an airing, ladies. And can anyone loan me the cash to purchase them?

Dateline 2014-05-15, TWSJ:

Midsize U.S. energy firm Murphy Oil Corp. MUR -0.27% has begun an over US$2 billion sale of its Malaysian oil and gas assets, people with knowledge of the deal said.

The deal would make Murphy the latest U.S. oil company to shed overseas assets in an effort to refocus on business back home.

Murphy Oil is seeking to sell as much as 30% of its stake in its Malaysian assets, these people said.

The sale process is at an early stage, the people said, adding that the company is currently seeking bidders. The first round of bids are due in June, one of the people said, adding that the company hopes to wrap up the deal by the end of the year.

Murphy Oil didn’t respond to requests for comment.

 

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