Murphy Oil Corporation Board of Directors Elects Louis W. Utsch Vice President, Tax

EL DORADO, Ark.–(BUSINESS WIRE)–Murphy Oil Corporation (NYSE: MUR) announced today that Louis W. Utsch
has been elected Vice President, Tax by the Board of Directors effective
March 1, 2018, succeeding Tim F. Butler, who is retiring from the
company. Mr. Utsch joined the company on January 30, 2018, as Senior Tax
Director, and worked with Mr. Butler over the interim to transition
responsibilities.

Mr. Utsch is an experienced corporate tax executive with over 20 years
of experience at Big Four accounting firms as well as more than a decade
of work experience in the oil and natural gas industry. He comes to
Murphy with Fortune 1000 Global experience and has led tax compliance
and tax provision efforts for Fortune 500 companies. In addition, he has
served in a senior tax role for a multinational public company. He holds
a Juris Doctorate with a concentration in business from the University
of Virginia School of Law and a Bachelor of Science in Agricultural
Economics from Utah State University.

In 1987, Mr. Butler joined a former subsidiary company of Murphy, Ocean
Drilling & Exploration Company (ODECO), as International Tax Specialist.
He held several positions within the Tax Department culminating in being
elected Vice President, Tax in 2013. As a member of the company’s
executive leadership team, he led the tax effort for several key
transactions, including most noticeably the spin-off of Murphy USA Inc.
in 2013, and was also a strong adviser to the company and the oil and
natural gas industry during the recent tax reform discussions leading up
to the passage of the Tax Cuts and Jobs Act in 2017.

“We are pleased to welcome Louis to the Murphy Oil Corporation
leadership team. He brings years of relevant experience to the global
tax role and I look forward to his contributions going forward,” stated
Roger W. Jenkins, President and Chief Executive Officer. “Tim’s wealth
of knowledge will be greatly missed at Murphy. We want to recognize him
for his exceptional work during the corporate spin in 2013 and most
recently his successful advisory efforts during the tax reform process
last year. We wish him all the best on his retirement,” added Jenkins.

ABOUT MURPHY OIL CORPORATION

Murphy Oil Corporation is a global independent oil and natural gas
exploration and production company. The company’s diverse resource base
includes offshore production in Southeast Asia, Canada and Gulf of
Mexico, as well as North America onshore plays in the Eagle Ford Shale,
Kaybob Duvernay and Montney. Additional information can be found on the
company’s website at http://www.murphyoilcorp.com.

Contacts

Murphy Oil Corporation
Investor Contacts:
Kelly
Whitley, 281-675-9107
[email protected]
or
Amy
Garbowicz, 281-675-9201
[email protected]
or
Emily
McElroy, 870-864-6324
[email protected]