MUR - Murphy Oil Guides To A 20% Production Increase
Murphy Oil (MUR) posted the highest income in four years. This capped a dramatic comeback from the big oil price downturn a few years back. The company also announced a fantastic deal to acquire a working interest in several Gulf of Mexico properties (while forming the Murphy Gulf of Mexico subsidiary). This deal forms the core of the roughly 20% guidance growth for the new fiscal year. Sometimes, you can buy decent growth cheaply.
The new joint venture is immediately cash flow positive because the acquired properties have existing production. Management intends to use that