MUR - Earnings NEWS on Long Term High EPS and Revenue Growth Stocks
Murphy Oil Announces Earnings and Malaysian Well Results
EL DORADO, Ark.--(Business Wire)--Feb. 1, 2006--
Murphy Oil Corporation (NYSE: MUR) announced today that
net income in the fourth quarter of 2005 was $154.6 million, $.82 per
diluted share, compared to net income of $134.5 million, $.72 per
diluted share, in the fourth quarter of 2004. Of the 2004 amount,
income from continuing operations was $131.8 million, $.71 per share,
and income from discontinued operations was $2.7 million, $.01 per
share.
For the year of 2005, net income totaled $846.5 million, $4.51 per
diluted share, compared to $701.3 million, $3.75 per diluted share,
for 2004. Income from continuing operations was $837.9 million, $4.46
per share, in 2005 and $496.4 million, $2.65 per share, in 2004.
Income from discontinued operations was $8.6 million, $.05 per share,
in 2005 and $204.9 million, $1.10 per share, in 2004.
Fourth Quarter 2005 vs. Fourth Quarter 2004
The improvement in net income in the fourth quarter of 2005
compared to the same period of 2004 was mainly caused by income tax
benefits of $21 million and higher oil and natural gas sales prices in
2005, but the period was unfavorably affected by hurricane-related
expenses, higher exploration expenses and downtime at Gulf of Mexico
production facilities. Hurricane-related expenses totaled $32.7
million and related mostly to higher insurance, repairs and other
ongoing costs, primarily at the Meraux, Louisiana refinery, that are
not expected to be recovered under the Company's insurance policies.
Murphy Oil Corporation, El Dorado
Investor/Media Relations: Mindy West, 870-864-6315
Copyright Business Wire 2006
01Feb06 21:58 GMT
Symbols:
us;MUR
Source BW Business Wire
