Murphy Oil 2Q Profits Well Ahead Of 2017 On Higher Oil Prices

Murphy Oil Corp.’s second quarter financial results exceeded year ago and Wall Street expectations as the Arkansas oil firm ramps up its international oil drilling and exploration program as crude oil prices continue to improve heading into the second half of 2018, company officials announced after the close of market on Wednesday.

For the period ended June 30, the El Dorado oil and gas firm reported net income of $46 million, or 26 cents per share, compared to losses of $17.6 million, or 10 cents in the same period a year ago. Adjusting for discontinued operations that include derivative and after-tax losses on foreign currency exchanges, the Arkansas publicly-traded concern reported profits of $63 million, or 36 cents per share.    MORE

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