The spin-off was achieved through the distribution to Murphy Oil’s shareholders of one share of Murphy USA common stock for every four shares of Murphy Oil stock held at the close of business on the record date of Aug. 21.
“Today’s announcement demonstrates Murphy Oil’s commitment to provide long-term value to our shareholders. Murphy USA is well-positioned with a strong management team and business plan to be a successful independent company. Following the spin-off, Murphy Oil will move forward, under the leadership of Roger Jenkins, as a focused exploration and production company with a strong portfolio of global assets,” Steve Cossé, Murphy Oil Corp.'s president and CEO, said in the release.
Murphy USA common stock began regular-way trading on the New York Stock Exchange under the ticker symbol “MUSA” on Sept. 3.
Murphy Oil Corp. is an independent energy company engaged in the E&P of oil and gas properties worldwide. The company is headquartered in El Dorado, Ark.