Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Lucretius who wrote (10382)	2/2/1998 6:52:00 PM
From: Bazmataz	Read Replies (2) of 95453

Murphy Oil sees Q1 pressured by low prices EL DORADO, Ark., Feb 2 (Reuters) - Murphy Oil Corp said Monday crude oil prices are ''distressingly low'' and will result in downward pressure on first quarter earnings. But the company said in a statement it has previously taken advantage of such conditions to acquire assets. ''Our balance sheet was built for these events, and we continue to be diligent in our efforts to capitalize should the appropriate opportunity arise,'' said Claiborne Deming, president and chief executive officer. Deming made his comments during a conference call last week. Murphy Oil is an integrated crude oil and natural gas company also in farming, timber and land management. Hmm. Oil prices ARE affecting earnings!! This looks bad... Again.. BC

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