Research Desk Line-up: Enterprise Products Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 8, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Murphy Oil Corp. (NYSE: MUR), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MUR. The Company announced on August 05, 2017, that it has priced an offering of $550 million of 5.750% Notes, that will mature in 2025 ("2025 notes"), pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission ("SEC"). For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Independent Oil & Gas industry. Pro-TD has currently selected Enterprise Products Partners L.P. (NYSE: EPD) for due-diligence and potential coverage as the Company announced on August 03, 2017, its financial results for Q2 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Enterprise Products when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MUR; also brushing on EPD. Go directly to your stock of interest and access today's free coverage at:

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Net Proceeds to be Used to Redeem Company's 2.500% Notes

Murphy Oil expects to close the offering on August 18, 2017, which is subject to customary closing conditions. The Company is likely to use the net proceeds from the offering of the 2025 notes in order to redeem the Company's 2.500% Notes due December 2017 in accordance with the indenture governing such notes.

Offering Made under Automatic Shelf Registration Statement on Form S-3

J.P. Morgan Securities LLC is serving 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 Oil with the SEC and only by means of a prospectus supplement and accompanying prospectus.

Financial Position as of June 30, 2017

As of June 30, 2017, Murphy Oil had $2.8 billion of outstanding fixed rate notes and $1.1 billion in cash and liquid invested securities. The long-term, fixed-rate notes, excluding the current maturity, have a weighted average maturity of 9.6 years and a weighted average coupon of 5.6%. Following the December 2017 bond maturity of $550 million, Murphy Oil will not have any debt maturities until 2022.

Moody Assigned Ba3 Rating to Murphy Oil's Proposed $550 Million Senior Unsecured Notes Due 2025

On August 03, 2017, Moody's Investors Service (Moody's) upgraded Murphy Oil Corp. unsecured notes rating to Ba3 from B1 and assigned a Ba3 rating to Murphy Oil's proposed $550 million senior unsecured notes due 2025. Moody's also declared Murphy Oil's Ba3 Corporate Family Rating (CFR) and Ba3-PD Probability of Default Rating, while upgrading its Speculative Grade Liquidity Rating to SGL-1 from SGL-3. The proceeds from the proposed notes offering are likely to repay the Company's 2.5% notes due December 2017.

John Thieroff, Vice President of Moody, mentioned that with the up gradation of the unsecured notes rating, Murphy Oil will maintain sufficient headroom under its leverage and interest coverage tests such that it would not trigger the springing collateral trigger on its revolving credit facility.

About Murphy Oil Corp.

Incorporated in Louisiana in 1950, Murphy Oil is a global independent exploration and production company with a balanced portfolio of global offshore and onshore assets. The Company produces oil and natural gas in the United States, Canada, and Malaysia and conducts exploration activities worldwide. Headquartered in El Dorado, Arkansas, Murphy has over 1,200 employees around the world.

Last Close Stock Review

On Monday, August 07, 2017, the stock closed the trading session at $25.87, dropping 2.12% from its previous closing price of $26.43. A total volume of 2.36 million shares have exchanged hands. Murphy Oil's stock price advanced 5.72% in the last one month. The stock has a dividend yield of 3.87% and currently has a market cap of $4.34 billion.

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SOURCE: Pro-Trader Daily