Murphy Oil

The company was founded in 1944 as CH Murphy & Co by Charles H. Murphy Sr. and incorporated in Louisiana in 1950.Mason Houghland opened the first Spur gas station in Old Hickory, Tennessee in 1928. After Wilhelm von Opel invested in the company, it became a chain, with 275 locations and annual sales of $40 million. In 1957, an appeals court ruled that von Opel's son Fritz von Opel was not entitled to the share of Spur Oil Company his father had owned. Houghland bought the shares and Equitable Securities handled the public offering. Equitable arranged the merger of Spur Oil Company with Murphy shortly after Houghland's death in 1959.Murphy entered the Malaysia market in 1999 after a purchase of three offshore blocks, solidifying its position as a player in the offshore development space. The first discovery in this area, the West Patricia prospect, was announced in 2001 and followed by a significant discovery in the Kikeh in 2002 .In 2003, the company acquired acreage offshore Republic of Congo.In 2004, the company sold oil fields in Western Canada for US$633 million.In July 2011, the company sold its refinery in Superior, Wisconsin, to Calumet for $214 million.In September 2011, the company sold its refinery in Meraux, Louisiana, to Valero Energy for $325 million.In August 2013, the company distributed 100% of the shares in its retail marketing gasoline station chain, Murphy USA, to its shareholders via a corporate spin-off.In 2016, the company sold its 5% stake in Syncrude Canada Ltd., a joint venture located about 25 miles north of Fort McMurray, Alberta, for C$937 million.In 2017, the company acquired acreage offshore Brazil.In July 2019, Murphy sold its assets in Malaysia to PTT Exploration and Production for $2.035 billion.In May 2020, the company relocated to Houston and closed several offices.