Skip to main content

Murphy Oil

(MUR) - Get Murphy Oil Corporation Report

said it expects third-quarter earnings to be in line with or above analysts' projections.

The company expects to earn 60 cents to 70 cents a share, before items, which compares with analysts' consensus estimate of 60 cents a share. Murphy earned 81 cents a share in the prior-year quarter.

TheStreet Recommends

The El Dorado, Ark.-based company also said production during the quarter is expected to average 119,000 barrels of oil equivalent per day. The company cited production from the West Patricia field in Malaysia as offsetting the ongoing decline in Canadian natural gas production.

In its worldwide downstream business, Murphy expects income before certain items to be $10 million to $13 million, not including the impact of fire damage and downtime at its Meraux refinery.

Shares of Murphy were up 57 cents, or 1%, at $60.40 in early

New York Stock Exchange

trading.