SAN FRANCISCO, Nov 4 (Reuters) - Murphy Oil Corp said on Wednesday quarterly profit fell 68 percent as crude oil prices dropped sharply from a year ago and weak fuel demand in the global economic slowdown hurt its refining business.
Net profit in the third quarter was $188.9 million, or 98 cents per share, compared with $584.4 million, or $3.04 per share, in the year-ago quarter.
Analysts, on average, had expected the El Dorado, Arkansas company to report a profit of 99 cents per share, according to Thomson Reuters I/B/E/S.
Shares of Murphy fell 2 percent to $62.00 in after-hours trading, after closing broadly unchanged at $63.27 on the New York Stock Exchange.
Murphy said total third-quarter production of crude oil, condensate and gas liquids averaged 131,637 barrels per day, up 18 percent from a year ago.
(Reporting by Braden Reddall in San Francisco and Anna Driver in Houston, editing by Leslie Gevirtz) Keywords: MURPHY/ (braden.reddall@thomsonreuters.com; +1 415 677 2543; braden.reddall.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Net profit in the third quarter was $188.9 million, or 98 cents per share, compared with $584.4 million, or $3.04 per share, in the year-ago quarter.
Analysts, on average, had expected the El Dorado, Arkansas company to report a profit of 99 cents per share, according to Thomson Reuters I/B/E/S.
Shares of Murphy fell 2 percent to $62.00 in after-hours trading, after closing broadly unchanged at $63.27 on the New York Stock Exchange.
Murphy said total third-quarter production of crude oil, condensate and gas liquids averaged 131,637 barrels per day, up 18 percent from a year ago.
(Reporting by Braden Reddall in San Francisco and Anna Driver in Houston, editing by Leslie Gevirtz) Keywords: MURPHY/ (braden.reddall@thomsonreuters.com; +1 415 677 2543; braden.reddall.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
