Murphy Oil quarterly profits more than triple
May 01, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
Source: The Daily Telegram
Murphy Oil Corp. announced Wednesday that first quarter net income more than tripled compared with the same period a year ago.
In an announcement released after markets closed, the company reported net income of $409.0 million, $2.14 per diluted share, versus $110.6 million, or 58 cents per diluted share, in the first quarter of 2007.
The larger profit was attributed to higher crude oil sales prices and sales volumes, which led to improved earnings in the company’s exploration and production business.
