Murphy Provides Earnings Guidance

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Murphy Provides Earnings Guidance

04/16/2007
EL DORADO, Ark. -- Murphy Oil Corp., a petroleum refining and marketing company that operates more than 1,000 Murphy USA retail stations at Wal-Mart stores across the nation, provided and updated earnings guidance for the first quarter of 2007.

The company expects income to be between $0.60 and $0.65 per share, with production and sales volumes to average 94,000 barrels of oil equivalent per day.

In the company's worldwide downstream business, retail margins were reportedly "robust early in the quarter," before declining, the company stated. Refining margins finished strongly as well. Income from downstream operations is expected to total between $40 million and $45 million for the first quarter.