Murphy Oil Corporation (NYSE:MUR) announces that its wholly-owned subsidiary, Murphy Oil Company Ltd., has acquired the interests of Bear Ridge Resources Ltd. in the Tupper area, an undeveloped Montney natural gas play in British Columbia, for consideration of C$155 million.
Claiborne P. Deming, Murphy Oil Corporation President and Chief Executive Officer stated, “Murphy will operate this property with a high working interest (97%). Tupper is the type of property that fits very well with our previously announced strategy of acquiring new entry opportunities to add to our upstream portfolio.”