Murphy Oil Announces Executive Appointment

  Murphy Oil Announces Executive Appointment

Business Wire

EL DORADO, Ark. -- January 8, 2013

Murphy Oil Corporation (NYSE:MUR) announced today the appointment of R. Andrew
Clyde as President and Chief Executive Officer of Murphy Oil USA, Inc., the
U.S. retail marketing subsidiary of Murphy Oil Corporation. Murphy Oil USA,
Inc. currently has over 1,150 U.S. retail locations and recently announced an
agreement with Wal-Mart Stores, Inc. to provide access to over 200 new
locations in the Midwest and Southeast United States.

Mr. Clyde is a partner in Booz & Company’s global energy practice and has over
20years of experience in management consulting, with specific focus on the
downstream value chain and gasoline and convenience retailing. Mr. Clyde has
been instrumental in the performance review and analysis of Murphy’s U.S.
retail business. He has provided recommendations and assisted with
implementation of operational improvements to the business and capital
allocation for development projects to grow the network. Mr. Clyde has been
leading the development of the business strategy for the U.S. retail company
to move forward as a separate entity.

Mr. Clyde joined the Energy, Chemicals and Utilities practice with Booz &
Company in Dallas in 1993. He has served as Managing Partner of the Dallas
office since 2007 and has been the Practice Leader of the North American
Energy, Chemicals and Utilities practice since 2010.

Mr. Clyde received a Masters in Management with Distinction from Kellogg
School of Management at Northwestern University. He received a BBA in
Accounting and a minor in Geology from Southern Methodist University.

Steven A. Cossé, President and Chief Executive Officer of Murphy Oil
Corporation, said in a statement, “Andrew has been intimately involved with
the MurphyUSA business for several years and has been instrumental in
preparing the retail business for our upcoming spin-off. I look forward to
working with him to complete the process of separating into two strong but
distinct businesses.”

In his new role, Mr. Clyde will report directly to Mr. Cossé until the
completion of the previously announced spin-off of Murphy Oil USA, Inc., at
which time he will report to the Board of Directors of the independent Murphy
Oil USA, Inc.

This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. These statements, which
express management’s current views concerning future events or results,
including Murphy’s plans to separate its U.S. downstream business, are subject
to inherent risks and uncertainties. Factors that could cause one or more of
the events forecasted in this press release not to occur include, but are not
limited to, a failure to obtain necessary regulatory approvals, a failure to
obtain assurances of anticipated tax treatment, a deterioration in the
business or prospects of Murphy or Murphy Oil USA, Inc., adverse developments
in Murphy or Murphy Oil USA, Inc.’s markets or adverse developments in the
U.S. or global capital markets, credit markets or economies generally. For
further discussion of risk factors, see Murphy’s 2011 Annual Report on Form
10-K and the September 30, 2012 Quarterly Report on Form 10-Q on file with the
U.S. Securities and Exchange Commission. Murphy undertakes no duty to publicly
update or revise any forward-looking statements.

Contact:

Murphy Oil Corporation
Barry Jeffery, 870-864-6501
 
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