Murphy Oil Corp. (MUR) posted third quarter net income of $188.9 million or $0.98 per share, compared to $584.4 million or $3.04 per share in the third quarter last year.
The company's income decreased in 2009 compared to 2008 due to significantly lower sales prices for oil and natural gas produced in the exploration and production operations and lower earnings from the refining and marketing operations.
Revenues for the period were $5.18 billion, compared to $8.16 billion in the previous year period.
Looking forward, for the fourth quarter, the company said it currently expects earnings in the range of $0.75 to $0.90 per share.
For comments and feedback: editorial@rttnews.com