Murphy Oil to build 200 stores via Wal-Mart partnership

Eldorado, Ark.-based Murphy Oil Corp. (NYSE: MUR) announced Dec. 26 that its wholly-owned subsidiary, Murphy Oil USA Inc., has reached an agreement with Bentonville, Ark.-based Wal-Mart Stores Inc. to build 200 fuel stations at existing Walmart Supercenters during the next three years.

Murphy USA spokesman Barry Jeffery said the stores would be built across the company’s footprint in 23 states in the Midwest and Southeast, with six stores expected in Missouri. Jeffery said a list of potential store sites in Missouri was not available.

Murphy USA operates eight stations within a 50-mile radius of Springfield, including one store outside of the Walmart Supercenter at 3516 W. Sunshine St., according to MurphyUSA.com.

Jeffery said the vast majority of Murphy USA sites – 1,013 of 1,160 – are located in Walmart store parking lots, while the remainder are stand-alone stations.  

Murphy Oil President and CEO Steven Cosse said in a Dec. 26 news release the move was a continuation of its partnership with Wal-Mart Stores since 1996.

“This agreement represents a significant step forward in our long-term relationship with Walmart as we pursue our business plan to separate the U.S. retail business into a stand-alone entity,” Cosse said, in the news release.

Jeffery declined to disclose the estimated investment involved in building the 200 stores.

Stock analyst Chris Katje reported this morning that Murphy Oil plans to spin off Murphy USA, officially separating the companies sometime in 2013, according to market tracking website SeekingAlpha.com. The move, Katje said, is among several by Murphy Oil designed to increase stock value including issuing a year-end $2.50 per share special dividend and a $1 billion share repurchase program.

Murphy Oil Corp. is a global oil and gas exploration and production business with marketing operations in the U.S. and the United Kingdom, according to MurphyOilCorp.com.