ATHOF - Murphy Oil: Permian Results Without The Permian
Murphy Oil (MUR) is out to prove that there is a whole world out there to make superior profits, not just the Permian. This company has typically gotten those superior profits by a counter-cyclical strategy. Expansion in areas that are out of favor tends to be the main focus. Costs tend to be lower and profits higher. By the time the rest of the industry discovers the area, Murphy is already reporting good profits. Shareholders have been rewarded by steady progress without dilution or a lot of debt. That progress could accelerate