Murphy Oil (MUR) unveils $500M 2034 senior notes offering and planned redemptions

Rhea-AI Filing Summary

Murphy Oil Corporation has announced a public offering of $500.0 million aggregate principal amount of senior notes due 2034. The notes are being issued under an effective shelf registration and the offering is subject to market and other conditions.

The company currently intends to use the net proceeds to redeem in full its 5.875% notes due 2027 and 6.375% notes due 2028, repay borrowings under its revolving credit facility, cover transaction-related fees and expenses, and for general corporate purposes. The planned redemptions of the 2027 and 2028 notes are conditional on the successful completion of the new notes offering, and a conditional notice of full redemption is expected to be issued in connection with the pricing of the offering.

Insights

Corporate finance and capital structure analyst

Murphy Oil plans a new 2034 notes issue to refinance nearer-term debt.

Murphy Oil Corporation disclosed a planned public offering of $500.0 million senior notes due 2034 under an effective shelf registration. The transaction is subject to market and other conditions, so its completion is not yet certain.

The company states it intends to use net proceeds primarily to redeem its 5.875% notes due 2027 and 6.375% notes due 2028, repay borrowings under its revolving credit facility, and pay related fees, expenses, and general corporate purposes. This points to a shift of part of its debt stack into longer-term maturity while addressing nearer-term notes and revolving credit borrowings.

The redemptions of the 2027 and 2028 notes are expressly conditioned on the successful completion of the new offering, and no assurance is given that they will be completed. Actual impact on leverage, interest expense, and liquidity will depend on final pricing, market conditions around the offering date, and subsequent execution of the conditional redemptions.

8-K Event Classification

3 items: 2.04, 8.01, 9.01

3 items

Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation Financial

An event triggered acceleration or increase of an existing financial obligation, such as a debt covenant breach.

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION 

WASHINGTON, DC 20549

____________________________

FORM 8-K

____________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): January 8, 2026 

____________________________

MURPHY OIL CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

____________________________

Delaware	1-8590	71-0361522
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

9805 Katy Fwy, Suite G-200 Houston, Texas	77024
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (281) 675-9000

Not applicable 

(Former Name or Former Address, if Changed Since Last Report)

____________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock, $1.00 Par Value	MUR	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.04. Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement  

The information under the caption “Senior Notes Redemptions” within Item 8.01 of this Current Report is incorporated herein by reference.

Item 8.01. Other Events

Senior Notes Offering

On January 8, 2026, Murphy Oil Corporation (the “Company”) announced the public offering (the “Offering”) of $500.0 million aggregate principal amount of senior notes due 2034 (the “Notes”) pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (“SEC”). The Offering is subject to market and other conditions.

Senior Notes Redemptions

The Company intends to use the net proceeds from the Offering of the Notes (i) to fund the redemption in full of its 5.875% notes due 2027 (the “2027 Notes”) and its 6.375% notes due 2028 (the “2028 Notes”), together with the payment of related premiums, fees and expenses in connection with the foregoing (the “Redemptions”), (ii) to repay outstanding borrowings under its revolving credit facility, (iii) to cover transaction related fees and expenses and (iv) for general corporate purposes. The Company intends to issue a conditional notice of full redemption in connection with the pricing of the Offering for the 2027 Notes and 2028 Notes. The redemption price of the 2027 Notes and 2028 Notes will be determined in accordance with the indentures governing the 2027 Notes and 2028 Notes, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption.

The Redemptions are conditioned upon, among other things, the successful completion (in the sole determination of the Company) of the Offering. No assurances can be given that the Company will complete the Redemptions. A copy of the press release relating to the Offering is attached as Exhibit 99.1 and is incorporated herein by reference.

This Current Report on Form 8-K does not constitute an offer to sell or purchase or the solicitation of an offer to sell or purchase the securities described herein. In addition, this Current Report on Form 8-K does not constitute a notice of redemption with respect to the 2027 Notes or 2028 Notes.

***

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the Company’s future operating results or activities and returns or the Company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, make capital expenditures or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on

commodity prices; geopolitical concerns; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets, banking system or economies in general, including inflation, trade policies, tariffs and other trade restrictions. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the SEC and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website. We undertake no duty to publicly update or revise any forward-looking statements.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Murphy Oil Corporation Press Release dated January 8, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 8, 2026	MURPHY OIL CORPORATION
	By:	/s/ Paul D. Vaughan
		Name:	Paul D. Vaughan
		Title:	Vice President and Controller

FAQ

What debt offering did Murphy Oil Corporation (MUR) announce?

Murphy Oil Corporation announced a public offering of $500.0 million aggregate principal amount of senior notes due 2034, issued under an effective shelf registration statement.

How does Murphy Oil Corporation (MUR) plan to use the proceeds from the new senior notes?

Murphy Oil intends to use net proceeds to redeem in full its 5.875% notes due 2027 and 6.375% notes due 2028, repay outstanding borrowings under its revolving credit facility, cover transaction-related fees and expenses, and for general corporate purposes.

Are Murphy Oils planned redemptions of the 2027 and 2028 notes guaranteed to occur?

No. The company states the redemptions are conditioned on the successful completion, in its sole determination, of the new senior notes offering and notes that no assurances can be given that the redemptions will be completed.

What interest rates and maturities are associated with the Murphy Oil notes targeted for redemption?

Murphy Oil is targeting its 5.875% notes due 2027 and its 6.375% notes due 2028 for full redemption using proceeds from the new 2034 senior notes offering.

Does this Murphy Oil disclosure constitute an offer to sell or a notice of redemption?

No. The company states that this disclosure does not constitute an offer to sell or purchase the securities described, nor a notice of redemption for the 2027 or 2028 notes.

What conditions affect the pricing and completion of Murphy Oils new senior notes?

The company notes the public offering of the senior notes due 2034 is subject to market and other conditions, and that completion of the offering and related redemptions is not assured.