DBRS: Murphy Oil view stable

DBRS said it confirmed the senior unsecured notes of Murphy Oil Corp. at A (low) and the commercial paper of Murphy Oil Co. Ltd. at R-1 (low).

The trends for both ratings have been changed to stable from negative.

The agency said the outlook change reflects its expectation that Murphy Oil will realize its expected oil and gas production growth over the course of 2010 and improve its reserve replacement record over the medium term while continuing to limit its capex program to cash flow generation in order to maintain its conservative financial profile and strong liquidity position.

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