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Murphy Oil announces 200 new retail fuel stations

Thursday, Dec 27, 2012

Murphy Oil Corporation (NYSE:MUR) announces that its wholly-owned subsidiary, Murphy Oil USA, Inc., has entered into an agreement with Wal-Mart Stores, Inc. to provide access to over 200 new locations within its core market area covering the Midwest and Southeast United States.

“This agreement represents a significant step forward in our long-term relationship with Wal-Mart as we pursue our business plan to separate the U.S. retail business into a stand-alone entity.”

Under the terms of the agreement, Murphy USA will have the opportunity to build over 200 new fuel stations at existing Walmart supercenters. The construction program is expected to be completed over the next three years.

Steven A. Cossé, Murphy Oil Corporation’s President and Chief Executive Officer, commented, “This agreement represents a significant step forward in our long-term relationship with Wal-Mart as we pursue our business plan to separate the U.S. retail business into a stand-alone entity.”

Source: Business Wire

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