Murphy earnings sharply higher on prices, lower exploration cost
Allen Baker, Petroleum News contributing writer
Murphy Oil Corp. had sharply higher earnings for the first quarter. The net profit figure was $87.1 million, up from $2.5 million in the same quarter a year ago.
The El Dorado, Ark., company reported earnings of $57.6 million in the fourth quarter.
The first quarter benefited from a $20 million gain....
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