Murphy Oil Corp is considering selling of some of its Asian oil and gas assets in a deal that could fetch up to $3 billion, people familiar with the matter said, as it joins other U.S. energy companies in scaling back from the region.Energy majors from BP to Shell have faced pressure from shareholders to control spending and return spare cash amid concerns over the impact of rising costs and the returns available if oil prices drop.Murphy's planned sale comes after Newfield Exploration Co and Hess Corp sold their Southeast Asia operations, partly to address share price underperformance.Murphy's move to shed its Asian assets was prompted in part by the strong demand generated from the Newfield and Hess auctions last year, the people told Reuters.
Murphy Oil Corporation is a worldwide oil and gas exploration and production company with retail and wholesale gasoline marketing operations in the United States and refining and marketing operations in the United Kingdom. Shares of MUR traded higher by 0.05% or $0.03/share to $57.20. In the past year, the shares have traded as low as $50.92 and as high as $66.20. On average, 1561740 shares of MUR exchange hands on a given day and today's volume is recorded at 398454.
Newfield Exploration Company (Newfield) is an independent energy company engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. Shares of NFX traded higher by 1.16% or $0.28/share to $24.49. In the past year, the shares have traded as low as $19.57 and as high as $32.55. On average, 2668970 shares of NFX exchange hands on a given day and today's volume is recorded at 559798.
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