Murphy Oil Corporation Announces Offering of $550 Million of Senior Notes Due 2025

EL DORADO, Ark.–(BUSINESS WIRE)–Murphy Oil Corporation (NYSE:MUR) announced, subject to market
conditions, it intends to offer $550 million of Senior Notes that will
mature in 2025 (“2025 notes”) pursuant to an effective shelf
registration statement previously filed with the Securities and Exchange
Commission (“SEC”).

The Company expects to use the net proceeds from the offering of the
2025 notes in order to redeem the Company’s 2.500 percent Notes due
December 2017 in accordance with the indenture governing such notes.
This news release does not constitute a notice of redemption under such
indenture.

J.P. Morgan Securities LLC is acting as joint book-running manager for
the offering. The offering is being made under an automatic shelf
registration statement on Form S-3 (Registration No. 333-207463) filed
by Murphy with the SEC and only by means of a prospectus supplement and
accompanying prospectus. An investor may obtain free copies of the
prospectus supplement and accompanying prospectus related to the
offering by visiting EDGAR on the SEC website, www.sec.gov,
or by contacting:

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
1155
Long Island Avenue
Edgewood, NY 11717
1-866-803-9204

This news release does not constitute an offer to sell or the
solicitation of an offer to buy the securities described herein, nor
shall there be any sale of these securities in any jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.

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.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are generally identified through the
inclusion of words such as “aim”, “anticipate”, “believe”, “drive”,
“estimate”, “expect”, “expressed confidence”, “forecast”, “future”,
“goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”,
“position”, “potential”, “project”, “seek”, “should”, “strategy”,
“target”, “will” or variations of such words and other similar
expressions. These statements, which express management’s current views
concerning future events or results are subject to inherent risks and
uncertainties. Factors that could cause actual results to differ
materially from those expressed or implied in our forward-looking
statements include, but are not limited to, the volatility and level of
crude oil and natural gas prices, the level and success rate of Murphy’s
exploration programs, the company’s ability to maintain production rates
and replace reserves, customer demand for Murphy’s products, adverse
foreign exchange movements, political and regulatory instability,
adverse developments in the U.S. or global capital markets, credit
markets or economies generally and uncontrollable natural hazards, as
well as those contained under the caption “Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2016. For further
discussion of risk factors, see Murphy’s 2016 Annual Report on Form
10-K, on file with the U.S. Securities and Exchange Commission. Murphy
undertakes no duty to publicly update or revise any forward-looking
statements.

Contacts

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