=================================================================
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 10-K/A
AMENDMENT NO. 1 TO CORRECT PAGE 19 AND ADD EXHIBIT 99.2, FORM
11-K, ANNUAL REPORT FOR THE FISCAL YEAR ENDED DECEMBER 31, 1993
COVERING COMBINED THRIFT PLANS FOR EMPLOYEES OF MURPHY OIL
CORPORATION, MURPHY OIL USA, INC., AND DELTIC FARM & TIMBER
CO., INC.
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For The Fiscal Year Ended DECEMBER 31, 1993
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the transition period from ----------- to -----------
Commission file number 1-8590
MURPHY OIL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 71-0361522
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification Number)
200 PEACH STREET, P. O. BOX 7000,
EL DORADO, ARKANSAS 71731-7000
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (501) 862-6411
Securities registered pursuant to Section 12(b) of the Act:
Name of each
exchange on which
Title of each class registered
COMMON STOCK, $1.00 PAR VALUE NEW YORK STOCK EXCHANGE AND
THE TORONTO STOCK EXCHANGE
SERIES A PARTICIPATING CUMULATIVE NEW YORK STOCK EXCHANGE AND
PREFERRED STOCK PURCHASE RIGHTS THE TORONTO STOCK EXCHANGE
Securities registered pursuant to Section 12(g) of the Act: NONE
Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months,
and (2) has been subject to such filing requirements for the past
90 days. /X/ Yes / / No.
Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K. /X/
Aggregate market value of the voting stock held by non-affiliates
of the registrant, based on average price at February 28, 1994 as
quoted by the New York Stock Exchange, was approximately
$1,276,693,000.
Number of shares of Common Stock, $1.00 Par Value, outstanding at
February 28, 1994, was 44,806,705.
DOCUMENTS INCORPORATED BY REFERENCE
The Registrant's definitive Proxy Statement relating to the
Annual Meeting of Stockholders on May 11, 1994 (Part III)
================================================================
<PAGE>
EXHIBIT INDEX
Page Number or
Exhibit Incorporation by
No. Reference to
- - - ------- ------------------
3.1 Certificate of Incorporation of Exhibit 3.1, Page
Murphy Oil Corporation as of Ex. 3.1-0 of Murphy's
September 25, 1986 Annual Report on Form
10-K for the year
ended December 31,
1991
3.2 Bylaws of Murphy Oil Corporation Exhibit 3.3, Page
at February 3, 1993 3.3-0 of Murphy's
Annual Report on Form
10-K for the year
ended December 31,
1992
3.3 Bylaws of Murphy Oil Corporation
at February 2, 1994 Ex. 3.3-1
4 Instruments Defining the Rights
of Security Holders. Murphy Oil
Corporation is party to several
long-term debt instruments, none
of which authorizes securities
that exceed 10 percent of the
total assets of Murphy Oil
Corporation and it subsidiaries
on a consolidated basis. Pursuant
to Regulation S-K, Item 601 (b),
paragraph 4(iii)(A), Murphy agrees
to furnish a copy of each such
instrument to the Securities and
Exchange Commission upon request.
4.1 Rights Agreement dated as of Exhibit 4.1, Page
December 6, 1989 between Murphy 4.1-0 of Murphy's
Oil Corporation and Harris Trust Annual Report on
Company of New York, as Rights Form 10-K for the
Agent year ended December
31, 1989
10.1 1982 Management Incentive Plan Exhibit 10.2, Page
Ex. 10-2-0 of
Murphy's Annual
Report on Form 10-K
for the year ended
December 31, 1991
10.2 1987 Management Incentive Plan Exhibit 10.3, Page
(adopted May 13, 1987, amended 10.3-0 of Murphy's
February 7, 1990 retroactive Annual Report on Form
to February 3, 1988) 10-K for the year
ended December 31,
1989
10.3 1992 Stock Incentive Plan Exhibit 10.3, Page
10.3-0 of Murphy's
Annual Report on Form
10-K for the year
ended December 31,
1992
13 1993 Annual Report to Ex. 13-0 - pages 4
Security Holders through 62
Appendix - Narrative of A-1 (electronic
Graphic and Image Material filing only)
21 Subsidiaries of the Registrant Ex. 21-1
23 Independent Auditors' Consent Ex. 23-1
99.1 Undertakings Ex. 99.1-1
99.2 Form 11-K, Annual Report for Ex. 99.2-0 (filed as
the fiscal year ended December Amendment No. 1 to
31, 1993 covering Combined this Annual Report
Thrift Plans for Employees of on Form 10-K)
Murphy Oil Corporation, Murphy
Oil USA, Inc., and Deltic
Farm & Timber Co., Inc.
Exhibits other than those listed above have been omitted since
they either are not required or are not applicable.
19
<PAGE>
EXHIBIT 99.2
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 11-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended DECEMBER 31, 1993
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from -------- to --------
Commission file number 1-8590
COMBINED THRIFT PLANS FOR EMPLOYEES OF MURPHY OIL CORPORATION,
MURPHY OIL USA, INC., AND DELTIC FARM & TIMBER CO., INC.
(Full title of the Plans)
MURPHY OIL CORPORATION
(Exact name of issuer of securities held pursuant to Plans)
200 PEACH STREET, P.O. BOX 7000, EL DORADO, ARKANSAS 71731-7000
(Address of issuer's principal executive office) (Zip Code)
The number of pages contained in this document is 20.
Ex. 99.2-0
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc., and Deltic
Farm & Timber Co., Inc.
December 31, 1993
TABLE OF CONTENTS
Page No.
----------
Independent Auditors' Report Ex. 99.2-2
Consolidating Statements of Net Assets Available
for Benefits - December 31, 1993 and 1992 Ex. 99.2-3
Consolidated Statements of Changes in Net Assets
Available for Benefits - By Year for Three Years
Ended December 31, 1993 Ex. 99.2-4
Statements of Changes in Net Assets Available
for Benefits - Fund A - By Year for Three Years
Ended December 31, 1993 Ex. 99.2-5
Statements of Changes in Net Assets Available
for Benefits - Fund B - By Year for Three Years
Ended December 31, 1993 Ex. 99.2-6
Statements of Changes in Net Assets Available
for Benefits - Fund C - By Year for Three Years
Ended December 31, 1993 Ex. 99.2-7
Notes to Financial Statements Ex. 99.2-8
Schedule 1 - Item 27A - Schedule of Assets Held for
Investment Purposes - December 31, 1993 Ex. 99.2-15
Schedule 2 - Item 27D - Schedule of Reportable (5%)
Transactions - Year Ended December 31, 1993 Ex. 99.2-17
Signatures Ex. 99.2-18
Exhibit A, Independent Auditors' Consent Ex. 99.2-A
Ex. 99.2-1
<PAGE>
INDEPENDENT AUDITORS' REPORT
----------------------------
The Board of Directors
Murphy Oil Corporation:
We have audited the consolidating statements of net assets
available for benefits of the Combined Thrift Plans for Employees
of Murphy Oil Corporation, Murphy Oil USA, Inc., and Deltic Farm
& Timber Co., Inc. (identified as the "Thrift Plan for Employees
of Murphy Oil Corporation," the "Thrift Plan for Hourly Employees
of Deltic Farm & Timber Co., Inc.," the "Thrift Plan for
Employees of Murphy Oil USA, Inc. Represented by the United
Steelworkers of America, AFL-CIO, on Behalf of Local Union 8363,"
and the "Thrift Plan for Employees of Murphy Oil USA,Inc.
Represented by the International Union of Operating Engineers,
Local No. 305") as of December 31, 1993 and 1992, and the related
consolidated and individual fund statements of changes in net
assets available for benefits for each of the years in the
three-year period ended December 31, 1993. In connection with
our audits of the aforementioned financial statements, we have
also audited the related financial statement schedules of Assets
Held for Investment Purposes as of December 31, 1993, and
Reportable (5%) Transactions for the year ended December 31,
1993. These financial statements and financial statement
schedules are the responsibility of the Plans' management. Our
responsibility is to express an opinion on these financial
statements and financial schedules based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that
our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects,the consolidated
and individual fund net assets available for benefits of the
Combined Thrift Plans for Employees of Murphy Oil Corporation,
Murphy Oil USA, Inc., and Deltic Farm & Timber Co., Inc. as of
December 31, 1993 and 1992, and the consolidated and individual
fund changes in net assets available for benefits for each of the
years in the three-year period ended December 31, 1993, in
conformity with generally accepted accounting principles. Also,
in our opinion, the related financial statement schedules, when
considered in relation to the basic financial statements taken as
a whole, present fairly, in all material respects, the
information set forth therein.
KPMG PEAT MARWICK
Shreveport, Louisiana
June 15, 1994
Ex. 99.2-2
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of Murphy Oil Corporation,
Murphy Oil USA, Inc., and Deltic Farm & Timber Co., Inc.
CONSOLIDATING STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 1993 and 1992
<TABLE>
<CAPTION>
Fund A
-----------------------
1993 1992
---------- ----------
<S> <C> <C>
Assets
Investments in marketable securities
Common stock of Murphy Oil Corp. $ - -
Other common stock - -
Other investments
Guaranteed investment contracts,
at contract value 72,498,394 66,039,254
Other 2,245,076 -
---------- ----------
Total investments 74,743,470 66,039,254
Cash - -
Accrued interest and dividends - -
---------- ----------
Total assets 74,743,470 66,039,254
Liabilities - benefits payable to
participants 485,344 480,397
---------- ----------
Net assets available for
benefits $74,258,126 65,558,857
========== ==========
Number of units outstanding 6,616,030 6,404,554
========== ==========
Net assets available for benefits
per unit $ 11.2240 10.2363
========== ==========
</TABLE>
See accompanying Notes to Financial Statements.
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of Murphy Oil Corporation,
Murphy Oil USA, Inc., and Deltic Farm & Timber Co., Inc.
CONSOLIDATING STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 1993 and 1992
<TABLE>
<CAPTION>
Fund B
-----------------------
1993 1992
---------- ----------
<S> <C> <C>
Assets
Investments in marketable securities
Common stock of Murphy Oil Corp. $ - -
Other common stock (historical cost
$7,347,665 and $5,428,272 in 1993
and 1992, respectively) 8,052,360 7,027,883
Other investments
Guaranteed investment contracts,
at contract value - -
Other 290,281 541,461
---------- ----------
Total investments 8,342,641 7,569,344
Cash (24,813) 39,603
Accrued interest and dividends 16,642 16,316
---------- ----------
Total assets 8,334,470 7,625,263
Liabilities - benefits payable to
participants 9,179 115,701
---------- ----------
Net assets available for
benefits $ 8,325,291 7,509,562
========== ==========
Number of units outstanding 381,535 370,506
========== ==========
Net assets available for benefits
per unit $ 21.8205 20.2684
========== ==========
</TABLE>
See accompanying Notes to Financial Statements.
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of Murphy Oil Corporation,
Murphy Oil USA, Inc., and Deltic Farm & Timber Co., Inc.
CONSOLIDATING STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 1993 and 1992
<TABLE>
<CAPTION>
Fund C
-----------------------
1993 1992
---------- ----------
<S> <C> <C>
Assets
Investments in marketable securities
Common stock of Murphy Oil Corporation
at market value - 172,860 and
232,746 shares (historical cost
$5,754,629 and $7,597,784) in 1993
and 1992, respectively $ 6,914,400 8,262,483
Other common stock - -
Other investments
Guaranteed investment contracts,
at contract value - -
Other 65,136 66,532
---------- ----------
Total investments 6,979,536 8,329,015
Cash - 28,460
Accrued interest and dividends 104 141
---------- ----------
Total assets 6,979,640 8,357,616
Liabilities - benefits payable to
participants - 82,488
---------- ----------
Net assets available for
benefits $ 6,979,640 8,275,128
========== ==========
Number of units outstanding 1,393,060 1,700,495
========== ==========
Net assets available for benefits
per unit $ 5.0103 4.8663
========== ==========
</TABLE>
See accompanying Notes to Financial Statements.
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of Murphy Oil Corporation,
Murphy Oil USA, Inc., and Deltic Farm & Timber Co., Inc.
CONSOLIDATING STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 1993 and 1992
<TABLE>
<CAPTION>
Consolidated Totals
-----------------------
1993 1992
---------- ----------
<S> <C> <C>
Assets
Investments in marketable securities
Common stock of Murphy Oil Corporation
at market value - 172,860 and
232,746 shares (historical cost
$5,754,629 and $7,597,784) in 1993
and 1992, respectively $ 6,914,400 8,262,483
Other common stock (historical cost
$7,347,665 and $5,428,272 in 1993
and 1992, respectively) 8,052,360 7,027,883
Other investments
Guaranteed investment contracts,
at contract value 72,498,394 66,039,254
Other 2,600,493 607,993
---------- ----------
Total investments 90,065,647 81,937,613
Cash (24,813) 68,063
Accrued interest and dividends 16,746 16,457
--------- ----------
Total assets 90,057,580 82,022,133
Liabilities - benefits payable to
participants 494,523 678,586
---------- ----------
Net assets available for
benefits $89,563,057 81,343,547
========== ==========
</TABLE>
See accompanying Notes to Financial Statements.
Ex. 99.2-3
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
CONSOLIDATED STATEMENTS OF CHANGES IN
NET ASSETS AVAILABLE FOR BENEFITS
<TABLE>
<CAPTION>
Year ended December 31,
------------------------------------
1993 1992 1991
---------- ---------- ----------
<S> <C> <C> <C>
Dividends and interest
Dividends
Common stock of
Murphy Oil
Corporation $ 242,033 233,951 163,751
Other common stock 200,523 115,730 70,157
Interest 5,814,214 4,661,717 3,657,100
---------- ---------- ----------
Total dividends and
interest 6,256,770 5,011,398 3,891,008
Net realized and unrealized
appreciation
(depreciation) in fair
value of investments
Common stock of
Murphy Oil
Corporation 1,205,528 352,521 (630,405)
Other investments
in securities 166,923 517,747 561,760
---------- ---------- ----------
Net appreciation
(depreciation)
of investments 1,372,451 870,268 (68,645)
Contributions
Employer 1,959,266 1,887,247 1,221,504
Employee 3,777,957 4,119,591 2,492,658
Amounts received due to
merger of plans (Note 2) - 23,351,729 -
Benefits paid directly
to participants (5,146,934) (5,113,512) (4,901,098)
---------- ---------- ----------
Net additions for the
year 8,219,510 30,126,721 2,635,427
Net assets available for
benefits at
beginning of year 81,343,547 51,216,826 48,581,399
---------- ---------- ----------
Net assets available
for benefits at end
of year $ 89,563,057 81,343,547 51,216,826
========== ========== ==========
</TABLE>
See accompanying Notes to Financial Statements.
Ex. 99.2-4
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
STATEMENTS OF CHANGES IN
NET ASSETS AVAILABLE FOR BENEFITS - FUND A
<TABLE>
<CAPTION>
Year ended December 31,
------------------------------------
1993 1992 1991
---------- ---------- ----------
<S> <C> <C> <C>
Interest $ 5,785,648 4,636,508 3,636,070
Contributions
Employer 1,299,884 1,212,938 854,232
Employee 2,787,182 3,171,037 2,078,649
Transfers between
funds - net 3,157,273 771,197 (1,140,714)
Amounts received due to
merger of plans (Note 2) - 17,049,896 -
Benefits paid directly
to participants (4,330,718) (4,184,916) (4,471,848)
---------- ---------- ----------
Net additions for the year 8,699,269 22,656,660 956,389
Net assets available for
benefits at
beginning of year 65,558,857 42,902,197 41,945,808
---------- ---------- ----------
Net assets available for
benefits at end of year $ 74,258,126 65,558,857 42,902,197
========== ========== ==========
</TABLE>
See accompanying Notes to Financial Statements.
Ex. 99.2-5
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
STATEMENTS OF CHANGES IN
NET ASSETS AVAILABLE FOR BENEFITS - FUND B
<TABLE>
<CAPTION>
Year ended December 31,
------------------------------------
1993 1992 1991
---------- ---------- ----------
<S> <C> <C> <C>
Dividends and interest
Dividends - other
common stock $ 200,523 115,730 70,157
Interest 27,511 23,351 15,704
---------- ---------- ----------
Total dividends
and interest 228,034 139,081 85,861
Net realized and
unrealized appreciation
(depreciation) in fair
value of investments 166,923 517,747 561,760
Contributions
Employer 318,524 293,939 133,609
Employee 694,515 619,034 249,348
Transfers between
funds - net 160,188 (203,910) (343,598)
Amounts received due to
merger of plans (Note 2) - 3,820,503 -
Benefits paid directly to
participants (752,455) (715,925) (280,602)
---------- ---------- ----------
Net additions for the year 815,729 4,470,469 406,378
Net assets available for
benefits at
beginning of year 7,509,562 3,039,093 2,632,715
---------- ---------- ----------
Net assets available for
benefits at end of year $ 8,325,291 7,509,562 3,039,093
========== ========== ==========
</TABLE>
See accompanying Notes to Financial Statements.
Ex. 99.2-6
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
STATEMENTS OF CHANGES IN
NET ASSETS AVAILABLE FOR BENEFITS - FUND C
<TABLE>
<CAPTION>
Year ended December 31,
------------------------------------
1993 1992 1991
---------- ---------- ----------
<S> <C> <C> <C>
Dividends and interest
Dividends - common
stock of Murphy Oil
Corporation $ 242,033 233,951 163,751
Interest 1,055 1,858 5,326
---------- ---------- ----------
Total dividends
and interest 243,088 235,809 169,077
Net realized and
unrealized appreciation
(depreciation) in fair
value of investments 1,205,528 352,521 (630,405)
Contributions
Employer 340,858 380,370 233,663
Employee 296,260 329,520 164,661
Transfers between
funds - net (3,317,461) (567,287) 1,484,312
Amounts received due to
merger of plans (Note 2) - 2,481,330 -
Benefits paid directly
to participants (63,761) (212,671) (148,648)
---------- ---------- ----------
Net change for the year (1,295,488) 2,999,592 1,272,660
Net assets available for
benefits at
beginning of year 8,275,128 5,275,536 4,002,876
---------- ---------- ----------
Net assets available for
benefits at end of year $ 6,979,640 8,275,128 5,275,536
========== ========== ==========
</TABLE>
See accompanying Notes to Financial Statements.
Ex. 99.2-7
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
NOTES TO FINANCIAL STATEMENTS
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PROVISIONS OF
THE PLANS
BASIS OF PRESENTATION
The accompanying financial statements of the Plans have been
prepared on an accrual basis and present the net assets available
for benefits to participants in the Plans and changes in net
assets available for benefits of the Plans. The four Plans are
identified collectively herein as the "Combined Thrift Plans for
Employees of Murphy Oil Corporation, Murphy Oil USA, Inc., and
Deltic Farm & Timber Co., Inc." [Combined Plans] and individually
as follows.
a) "Thrift Plan for Employees of Murphy Oil Corporation" [Murphy
Plan]. Also participating in the Murphy Plan are salaried
employees of Deltic Farm & Timber Co., Inc., a wholly owned
subsidiary of Murphy Oil Corporation, and employees of Murphy Oil
USA, Inc., Murphy Exploration & Production Company, and El Dorado
Engineering Inc., also wholly owned subsidiaries of Murphy Oil
Corporation.
b) "Thrift Plan for Hourly Employees of Deltic Farm & Timber
Co., Inc." [Deltic Hourly Plan].
c) "Thrift Plan for Employees of Murphy Oil USA, Inc.
Represented by the United Steelworkers of America, AFL-CIO, on
Behalf of Local Union 8363" [Meraux Plan].
d) "Thrift Plan for Employees of Murphy Oil USA, Inc.
Represented by the International Union of Operating Engineers,
Local No. 305" [Superior Plan].
The assets of the Combined Plans are commingled and invested by
the Trustee in various investment programs [Funds] described in
Note 3. The approximate net assets available for benefits of
each Plan at each year-end in the three years ended December 31,
1993 in each of the Funds and in the total commingled Funds is
shown below stated as a percentage of assets in the Combined
Plans.
<TABLE>
<CAPTION>
Commingled
Fund A Fund B Fund C Funds
------ ------ ------ ----------
<S> <C> <C> <C> <C>
Murphy Plan - 1993 86.9% 88.2% 96.5% 87.9%
- 1992 86.5% 89.7% 96.4% 87.8%
- 1991 80.7% 77.7% 92.9% 81.7%
Deltic Hourly Plan - 1993 .9% .5% .4% .8%
- 1992 .9% .6% .3% .8%
- 1991 1.2% 1.3% .4% 1.1%
Meraux Plan - 1993 7.3% 8.1% .2% 6.8%
- 1992 7.6% 7.3% .4% 6.8%
- 1991 11.0% 12.6% 1.1% 10.1%
Superior Plan - 1993 4.9% 3.2% 2.9% 4.5%
- 1992 5.0% 2.4% 2.9% 4.6%
- 1991 7.1% 8.4% 5.6% 7.1%
Ex. 99.2-8
</TABLE>
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
NOTES TO FINANCIAL STATEMENTS (Contd.)
SIGNIFICANT PROVISIONS OF THE PLANS
The following is a summary of certain information related to the
Plans. The respective Plan documents should be referred to for
more specific information.
Each permanent employee of Murphy Oil Corporation, Murphy Oil
USA, Inc., Deltic Farm & Timber Co., Inc., Murphy Exploration &
Production Company, or El Dorado Engineering Inc., [the
Companies], excluding marketing station hourly paid employees,
who works 800 or more hours in a year may participate in the
applicable one of the Combined Plans. An employee becomes
eligible for participation in the Murphy Plan or the Deltic
Hourly Plan on the first day of the month coinciding with or next
following the date of employment. An employee becomes eligible
for participation in the Meraux Plan or the Superior Plan on the
first day of the month coinciding with or next following one year
of employment.
The type of account to which a participant's investments may be
made varies among the Plans. Options available for allotments by
the participants [Par.] and contributions by the Companies [Cos.]
are shown in the following table.
<TABLE>
<CAPTION>
Funds (See Note 3)
---------------------------------
A B C
---------- ---------- ----------
Par. Cos. Par. Cos. Par. Cos.
---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C>
Murphy Plan accounts
Tax-Deferred X X X
Matching X X X
Supplemental X X X
Deductible X X X
Minimum Pre-Tax X
Rollover X X X
Deltic Hourly Plan accounts
Matching X X X X X X
Supplemental X X X
Deductible X X X
Meraux Plan accounts
Matching X X X X X
Supplemental X X
Deductible X X
Superior Plan accounts
Matching X X X X X
Supplemental X X
Deductible X X
</TABLE>
The amounts that may be allotted or contributed to each account
are limited as follows.
a) Tax-Deferred - a maximum of 8% of base pay not to exceed
$8,475 annually in 1991, $8,728 in 1992, and $8,994 in 1993.
Ex. 99.2-9
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
NOTES TO FINANCIAL STATEMENTS (Contd.)
b) Matching - participants - a maximum of 5% of base pay.
- Companies - based on each participant's allotment
(up to a maximum of 5% of base pay) to a Tax-Deferred or Matching
account and calculated as 50% of such allotment during the first
five years of participation, 75% during the second five years,
and 100% thereafter.
c) Supplemental - a maximum of 5% of base pay for the year,
except that if annualized salary was less than $60,535 in 1991,
$62,345 in 1992, or $64,245 in 1993, a participant in the Murphy
Plan or Superior Plan may allot a maximum of 10% of base pay.
d) Deductible - allotments to this account have not been
allowed after December 31, 1986, but established accounts have
been allowed to remain.
e) Minimum Pre-Tax - allotments to this account (acquired under
merger described in Note 2) have not been allowed after March 31,
1992, and established accounts can only be withdrawn upon
termination.
f) Rollover - a lump-sum investment of taxable assets that a
participant has accumulated from a previous employer's plan.
A participant is vested in Company contributions upon occurrence
of any of the following circumstances: completion of 60 months
of credited participation, retirement on or after age 65, death,
permanent disability, or discontinuance of the applicable Plan.
Any amounts contributed by the Companies that are forfeited by
participants in accordance with provisions of the Combined Plans
are applied to reduce subsequent contributions by the Companies.
A vested participant in any of the Plans may withdraw from a
Matching account either totally or partially (limited to a
minimum, which is the greater of 10% of the account balance or
$250, or any higher multiple of 5% up to 50% of the account
balance); a participant in the Murphy Plan may elect to make such
a withdrawal either from his/her own allotments or from the total
Matching account (with a minimum of 25% of employee's account
balance). A nonvested participant in any of the Plans may only
withdraw his/her allotments in total, at which time the
participant forfeits his/her Company contributions unless the
participant repays all amounts withdrawn within five years.
After a total withdrawal from a Matching account, a participant
in the Deltic Hourly Plan, Meraux Plan, or Superior Plan is not
eligible for reinstatement until 12 months later; for a partial
withdrawal, the suspension period is six months, and another such
withdrawal cannot be made until at least 24 months have expired
since the most recent withdrawal. Allotments by a Murphy Plan
participant to the Tax-Deferred account may continue without
interruption after a total or partial withdrawal from a Matching
account by the participant; Company contributions are suspended
for either 12 or six months under the conditions previously
described for the other three Plans if the participant has
withdrawn Company contributions from the Matching account. Any
taxable income distributed from a Matching account may be subject
to a 10% penalty tax under the Tax Reform Act of 1986.
A withdrawal from either a Tax-Deferred account or a Rollover
account is not permissible except upon a finding that a hardship
exists pursuant to regulations issued by the IRS, upon the
attainment of age 59 1/2, or upon termination. After such a
withdrawal from a Tax-Deferred account, participation in all
accounts is suspended for 12 months.
Ex. 99.2-10
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
NOTES TO FINANCIAL STATEMENTS (Contd.)
A withdrawal from a Supplemental account may not be made until at
least 12 months have expired since the most recent such
withdrawal, with the minimum amount being the greater of 10% of
the account balance or $250. No participation penalty is applied
to such a withdrawal.
A withdrawal from a Deductible account must be the minimum of the
greater of 10% of the account balance or $250 and may not be made
until at least 12 months have expired since the most recent such
withdrawal. No participation penalty is applied to such a
withdrawal, but unless the participant is 59 1/2 years old, is
permanently disabled, or has died, the withdrawal is subject to a
10% penalty tax as required by federal tax regulations.
A withdrawal from a Minimum Pre-Tax account is not permissable
except upon termination.
Upon retirement, disability, or death of a participant, the
participant or his/her designated beneficiary has the option to
receive settlement in a lump sum or installment payments not to
exceed 15 years or actuarial life if less than 15 years.
OBLIGATION FOR THRIFT CONTRIBUTIONS
The Companies have voluntarily agreed to make contributions to
the Combined Plans based on the participants' allotments subject
to a maximum of 5% of each participant's base pay. Although the
Companies have not expressed any intent to terminate the Thrift
Plan agreements, they may do so at any time except as limited by
the contract period of labor agreements. In the event of a
termination, participants will become 100% vested in their
accounts.
TRUSTEE
The Trustee for the Combined Plans is the First Tennessee Bank
National Association [First Tennessee], Memphis, Tennessee.
INVESCO, Investment Manager located in Atlanta, Georgia, has
discretionary authority concerning purchases and sales of
investments in Fund B (described in Note 3) and directs First
Tennessee in such transactions. First Tennessee acts as
Investment Manager of Fund C (described in Note 3). Metropolitan
Life Insurance Company, New York, New York; Aetna Life Insurance
Company, Hartford, Connecticut; New York Life Insurance Company,
New York, New York; Hartford Life Insurance Company, Hartford,
Connecticut; Pan American Life Insurance Company, New Orleans,
Louisiana; Allstate Life Insurance Company, Northbrook, Illinois;
and Merrill Lynch Trust Company, Somerset, New Jersey, receive,
hold, invest, and distribute assets under Fund A (described in
Note 3). The investments and changes in the net assets available
for benefits of the Funds have been determined by the Trustee and
reported to the Plan Administrator based on contract values for
the guaranteed investment contracts and current values of all
other assets and liabilities of the Funds.
ADMINISTRATIVE EXPENSES
The costs of Plan administration are paid by the Companies.
Ex. 99.2-11
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
NOTES TO FINANCIAL STATEMENTS (Contd.)
MARKET VALUE DETERMINATION
Investments in marketable securities (Funds B and C) are included
in the financial statements at market value as determined by the
Trustee based on closing market quotes at each year-end.
Investments in guaranteed investment contracts (Fund A) are
valued as described in Note 3.
REALIZED GAINS OR LOSSES AND UNREALIZED APPRECIATION OR
DEPRECIATION - METHOD OF COMPUTATION
Realized gains or losses and unrealized appreciation or
depreciation of investments are determined in accordance with
Department of Labor regulations for Form 5500. The cost basis
used in determining gains or losses on investments purchased and
disposed of in the same year is the cost at the date of purchase.
For investments disposed of in a subsequent year, however, the
cost basis is the fair market value at the beginning of the year.
2. MERGER OF PLANS
Effective June 30, 1992, the following two plans [Expro Plans]
were merged into the Murphy Plan, and the participants in the
Expro Plans became participants in the Murphy Plan; the assets of
the Expro Plans were combined with the assets of the Combined
Plans on August 1, 1992.
a) "Thrift Plan for Employees of Murphy Exploration &
Production Company (formerly Ocean Drilling & Exploration
Company)."
b) "401(k) Savings Plan for Employees of Murphy Exploration &
Production Company (formerly Ocean Drilling & Exploration
Company)."
3. DESCRIPTIONS OF THE FUNDS
Fund A - is primarily invested in guaranteed investment contracts
[GIC's] in a manner so that a portion of the GIC's will mature
each year over a number of years (currently about 5 1/2). The
maturing amounts are reinvested in a new contract or contracts at
the highest bid rate(s) received. All cash flows are processed
through the most recently awarded contract(s) during the 12
months following the awarding of such contract(s) except that
withdrawals may be prorated over several recent contracts.
Twelve months after a contract has been awarded, the amount
invested may be adjusted to achieve a guaranteed amount for that
contract. Generally, only those insurance companies that have
received the highest rating (indicative of financial strength to
meet contractual obligations) assigned by well-known rating
services are selected to bid for reinvestment of amounts from the
expiring contracts. Each interest rate and principal amount is
guaranteed by the applicable contracting company.
A small portion of Fund A is invested in a collective trust
fund. The principal amount is guaranteed, the interest rate
fluctuates from month to month, and the term is open-ended.
Ex. 99.2-12
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
NOTES TO FINANCIAL STATEMENTS (Contd.)
All interest earned under Fund A is commingled, and a composite
rate is developed to determine the amount credited to each
participant's account. The value of the investment in Fund A is
based on total contributions made, plus interest accrued thereon,
less benefits paid to participants.
Fund B - is invested in a diversified portfolio of stocks and
other securities.
Fund C - is invested in the common stock of Murphy Oil
Corporation.
Each participant determines how each of his/her accounts is
divided among the different Funds (as allowed), but any division
of a participant's allotments, Company contributions, or account
balances must be in even multiples of 10%.
4. INDIVIDUAL INVESTMENTS EXCEEDING 5% OF NET ASSETS AND
CONCENTRATION OF CREDIT RISK
The fair value of each of the following investments, either
individually or when grouped with others of the same issuer,
exceeded 5% of the net assets of the Combined Plans available for
benefits.
<TABLE>
<CAPTION>
Value at December 31,
-----------------------
Description 1993 1992
- - - ----------- ---------- ----------
<S> <C> <C>
Murphy Oil Corporation Common Stock
(172,860 and 232,746 shares,
respectively) $ 6,914,400 8,262,483
Aetna Life & Casualty Company GIC,
8.50%, due 6/30/93 - 5,220,124
Aetna Life & Casualty Company GIC,
8.93%, due 6/30/96 7,402,969 6,796,079
Aetna Life & Casualty Company GIC,
6.15%, due 7/01/99 12,251,548 -
Hartford Life Insurance Company GIC,
9.01%, due 12/31/96 5,298,769 5,050,974
Metropolitan Life Insurance Company
GIC, 8.40%, due 6/30/93 - 4,730,872
Metropolitan Life Insurance Company
GIC, 7.34%, due 6/30/98 10,181,799 10,914,391
New York Life Insurance Company
GIC, 9.27%, due 6/30/94 11,773,678 10,774,849
New York Life Insurance Company
GIC, 9.55%, due 1/03/95 2,279,509 4,304,808
New York Life Insurance Company
GIC, 9.40%, due 6/30/95 11,524,838 10,534,587
New York Life Insurance Company
GIC, 8.60%, due 12/31/97 3,378,218 3,242,032
Pan American Life Insurance
Company GIC, 9.85%, due 12/31/95 4,910,884 4,470,537
</TABLE>
The above listing also reflects a significant concentration of
credit risk. The GIC contracts have all been placed with
insurance companies that received the highest rating (indicative
of financial strength to meet contractual obligations) assigned
by well-known rating services. The future value of the
investment in the Common Stock of Murphy Oil Corporation will
depend on the future well-being of this enterprise, the petroleum
industry, and the overall U.S. economy. Historically, the Plans
have not incurred any credit-related losses.
Ex. 99.2-13
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
NOTES TO FINANCIAL STATEMENTS (Contd.)
5. INCOME TAXES
The Combined Plans as amended meet the necessary requirements of
the Tax Reform Act of 1986 as documented in Section 401(a) of
the Internal Revenue Code, and accordingly, the related trust is
exempt from taxation under the provisions of Section 501(a) of
the Internal Revenue Code. A favorable determination letter was
obtained for the Plans prior to the Tax Reform Act of 1986. The
Companies are in the process of obtaining a new determination
letter from the Internal Revenue Service for the Plans as
amended. Until such time as cash or shares are withdrawn from
the Plans by a participant or a participant's beneficiary, no
income tax is payable by the participant on: contributions made
by the participant's employer on the participant's behalf,
allotments made by the participant pursuant to the Economic
Recovery Tax Act of 1981, interest and dividends added to the
account of the participant, gains on sales of securities by the
trust, or any unrealized appreciation on investments.
6. PLAN AMENDMENTS
Effective January 1, 1993, each of the Plans was amended to
designate Murphy Oil Corporation as the company sponsor instead
of Murphy Oil USA, Inc. Also effective January 1, 1993, the
Murphy Plan was amended to exclude marketing station hourly paid
employees of Murphy Oil USA, Inc. as participants.
Ex. 99.2-14
<PAGE>
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
December 31, 1993
<TABLE>
<CAPTION>
Description
of
investment Par or
including maturity
maturity value
Identity date, rate or
of issuer of interest, number
borrower, lessor, collateral of Historical Current
or similar party etc. shares cost Value
- - - ---------------------- ----------- ------- ---------- -------
<S> <C> <C> <C>
Corporate stock - common
Abbott Laboratories Common stock 5,000 106,940 148,125
Alcan Aluminum Ltd. Common stock 8,600 170,391 178,450
American Brands Common stock 5,100 167,031 169,575
American General
Corporation Common stock 5,000 107,559 143,125
American Home
Products Common stock 1,900 131,061 123,025
Amoco Corporation Common stock 2,300 123,210 121,612
Boeing Company Common stock 4,200 161,960 181,650
Bristol Myers
Squibb Common stock 2,200 130,207 128,150
Browning Ferris
Industries Inc. Common stock 6,400 164,634 164,800
Columbia Healthcare
Corporation Common stock 5,812 138,251 192,523
Deluxe Corp. Common stock 3,800 144,153 137,750
Dover Corp. Common stock 2,700 129,087 164,025
Dow Chemical Common stock 2,900 161,805 164,575
Dun & Bradstreet
Corporation Common stock 2,200 128,282 135,575
Eli Lilly & Co. Common stock 2,700 130,100 160,312
Emerson Electric
Company Common stock 2,700 140,430 162,675
Exxon Corporation Common stock 1,900 124,326 119,938
Fleming Companies
Inc. Common stock 4,000 131,740 99,000
Ford Motor Common stock 2,500 126,400 161,250
General Electric Common stock 1,400 70,075 146,825
General Re Corp. Common stock 1,100 123,679 117,700
Genuine Parts Co. Common stock 3,700 129,259 139,212
H J Heinz Company Common stock 3,500 127,960 125,563
Hanson PLC Common stock 7,600 130,606 152,000
Hewlett Packard
Company Common stock 2,100 111,599 165,900
IBM Common stock 3,400 161,862 192,100
Johnson & Johnson Common stock 4,300 190,146 192,962
K-Mart Corporation Common stock 6,400 126,784 137,600
Liz Claiborne Inc. Common stock 7,200 197,692 162,900
Marsh & McLennan
Companies Inc. Common stock 1,500 129,652 121,875
Maytag Corporation Common stock 8,600 130,591 154,800
McDonald's Corp. Common stock 2,700 131,449 153,900
Melville Corp. Common stock 3,300 146,440 134,063
Merck Common stock 4,800 166,638 165,000
Minnesota Mining &
Manufacturing Common stock 1,200 92,018 130,500
Mobil Corporation Common stock 1,700 123,777 134,512
Murphy Oil Corp. Common stock 172,860 5,754,629 6,914,400
Nalco Chemical Co. Common stock 3,700 129,722 138,750
NBD Bancorp Inc. Commom stock 4,100 130,934 121,975
National Services
Industries Inc. Common stock 6,000 153,360 153,750
Norsk-Hydro A.S. Common stock 5,100 128,443 142,800
Philip Morris
Companies Inc. Common stock 2,600 124,631 144,625
Raytheon Company Common stock 2,200 80,470 145,200
Roadway Services
Inc. Common stock 1,200 70,700 72,000
Royal Dutch
Petroleum Co. NV Common stock 1,400 86,257 146,125
Suntrust Banks Inc. Common stock 3,800 174,038 171,000
Syntex Corporation Common stock 7,100 130,889 112,713
Telefonica Nacional
de Espana Common stock 5,100 165,756 198,900
Telefonos de Mexico Common stock 2,500 158,588 168,750
</TABLE>
Ex. 99.2-15
<PAGE>
SCHEDULE 1 (Contd.)
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
December 31, 1993
<TABLE>
<CAPTION>
Description
of
investment Par or
including maturity
maturity value
Identity date, rate or
of issuer of interest, number
borrower, lessor, collateral of Historical Current
or similar party etc. shares cost Value
- - - ---------------------- ----------- ------- ---------- -------
<S> <C> <C> <C>
Corporate stock - common (Contd.)
Textron Inc. Common stock 2,400 129,744 139,800
United Technologies Common stock 2,400 132,744 148,800
V F Corp Common stock 3,400 162,912 156,825
Wachovia Corp. Common stock 4,800 163,213 160,800
Westvaco Corporation Common stock 4,900 159,792 174,562
WMX Technologies Common stock 6,500 157,678 171,438
---------- ----------
Total corporate stock - common 13,102,294 14,966,760
---------- ----------
</TABLE>
<TABLE>
<S> <C> <C> <C>
Guaranteed investment contracts
Aetna Life &
Casualty Company 8.93% - due 6/30/96 7,402,969 7,402,969
Aetna Life &
Casualty Company 6.15% - due 7/01/99 12,251,548 12,251,548
Allstate Life
Insurance Company 5.38% - due 6/30/97 3,496,182 3,496,182
Hartford Life
Insurance Company 9.01% - due 12/31/96 5,298,769 5,298,769
Metropolitan Life
Insurance Co. 7.34% - due 6/30/98 10,181,799 10,181,799
New York Life
Insurance Company 9.27% - due 6/30/94 11,773,678 11,773,678
New York Life
Insurance Company 9.55% - due 1/03/95 2,279,509 2,279,509
New York Life
Insurance Company 9.40% - due 6/30/95 11,524,838 11,524,838
New York Life
Insurance Company 8.60% - due 12/31/97 3,378,218 3,378,218
Pan American Life
Insurance Co. 9.85% - due 12/31/95 4,910,884 4,910,884
---------- ----------
Total GIC's 8.27% average rate 72,498,394 72,498,394
---------- ----------
Collective trust
funds - fixed
Merrill Lynch GIC's, U.S.
Retirement Government
Preservation agency
Fund securities,
money-market
investments 2,245,076 2,245,076
---------- ----------
Other investments
U.S. Treasury Bills Due 3/31/94 $ 277,000 274,906 274,906
Fidelity Short-term
Institutional money-market
Cash - U.S. investments
Government
Portfolio $ 80,511 80,511 80,511
---------- ----------
Total other investments 355,417 355,417
---------- ----------
Total investments $88,201,181 90,065,647
========== ==========
</TABLE>
Ex. 99.2-16
<PAGE>
SCHEDULE 2
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
ITEM 27D - SCHEDULE OF REPORTABLE (5%) TRANSACTIONS
Year ended December 31, 1993
<TABLE>
<CAPTION>
Exp.
in-
curred
Description of asset Lse. with
(includes interest rate and Purchase Selling ren- trans-
maturity in case of loan) price price tal action
--------------------------- --------- --------- ---- ------
Category (i) - A single transaction in excess of 5% of plan
assets
- - - ------------------------------------------------------------
<S> <C> <C> <C> <C>
Aetna Life & Casualty Co. -
Group Contract #LT-13470 $5,434,418 - - -
Aetna Life & Casualty Co. -
Group Contract #LT-13475 - 5,399,308 - -
Aetna Life & Casualty Co. -
Group Contract #LT-13470 5,094,007 - - -
U.S. Treasury Bills -
due 6/24/93 - 4,946,477 - -
U.S. Treasury Bills -
due 9/23/93 4,911,086 - - -
Metropolitan Life Insurance
Co. - Group Contract
#9868-9 - 4,733,023 - -
U.S. Treasury Bills -
due 9/23/93 - 4,514,232 - -
Category (iii) - A series of transactions involving securities of
the same issue, aggregated, exceeding 5% of plan assets
- - - -----------------------------------------------------------------
Aetna Life & Casualty Co. -
Group Contract #LT-13470
(27 purchases and
10 sales) $3,110,924 1,449,272 - -
Metropolitan Life Insurance
Co. - Group Contract #13241
(34 purchases and
12 sales) 5,173,280 5,899,950 - -
Fidelity Institutional Cash -
U.S. Government Portfolio
(195 purchases and
99 sales) 8,012,969 8,159,680 - -
Other transactions involving category (i) securities
----------------------------------------------------
Metropolitan Life Insurance
Co. - Group Contract #9868-9
(7 purchases and 2 sales) $ 351,193 316,745 - -
Aetna Life & Casualty Co. -
Group Contract #LT-13475
(6 purchases) 215,227 - - -
U.S. Treasury Bills -
due 6/24/93 (11 purchases
and 5 sales) 5,434,139 487,660 - -
U.S. Treasury Bills -
due 9/23/94 (10 purchases
and 8 sales) 532,595 929,449 - -
</TABLE>
Notes:
(1) The above data is based on information that has been
certified as accurate and complete by the Trustee.
(2) There were no reportable transactions during the year ended
December 31, 1993 for categories (ii) or (iv).
(3) Current value is substantially the same amount as either the
purchase price or sales price of the security, at date of
acquisition or disposition.
<PAGE>
SCHEDULE 2
MURPHY OIL CORPORATION
Combined Thrift Plans for Employees of
Murphy Oil Corporation, Murphy Oil USA, Inc.,
and Deltic Farm & Timber Co., Inc.
ITEM 27D - SCHEDULE OF REPORTABLE (5%) TRANSACTIONS
Year ended December 31, 1993
<TABLE>
<CAPTION>
Net
Description of asset Cost Current gain
(includes interest rate and of value or
maturity in case of loan) asset of asset (loss)
--------------------------- --------- --------- ------
Category (i) - A single transaction in excess of 5% of plan
assets
- - - -----------------------------------------------------------------
<S> <C> <C> <C>
Aetna Life & Casualty Co. -
Group Contract #LT-13470 - - -
Aetna Life & Casualty Co. -
Group Contract #LT-13475 5,399,308 5,399,308 -
Aetna Life & Casualty Co. -
Group Contract #LT-13470 - - -
U.S. Treasury Bills -
due 6/24/93 4,946,477 4,946,477 -
U.S. Treasury Bills -
due 9/23/93 - - -
Metropolitan Life Insurance
Co. - Group Contract
#9868-9 4,733,023 4,733,023 -
U.S. Treasury Bills -
due 9/23/93 4,514,232 4,514,232 -
Category (iii) - A series of transactions involving securities of
the same issue, aggregated, exceeding 5% of plan assets
- - - -----------------------------------------------------------------
Aetna Life & Casualty Co. -
Group Contract #LT-13470
(27 purchases and
10 sales) 1,449,272 1,449,272 -
Metropolitan Life Insurance
Co. - Group Contract #13241
(34 purchases and
12 sales) 5,899,950 5,899,950 -
Fidelity Institutional Cash -
U.S. Government Portfolio
(195 purchases and
99 sales) 8,159,680 8,159,680 -
Other transactions involving category (i) securities
----------------------------------------------------
Metropolitan Life Insurance
Co. - Group Contract #9868-9
(7 purchases and 2 sales) 316,745 316,745 -
Aetna Life & Casualty Co. -
Group Contract #LT-13475
(6 purchases) - - -
U.S. Treasury Bills -
due 6/24/93 (11 purchases
and 5 sales) 487,660 487,660 -
U.S. Treasury Bills -
due 9/23/94 (10 purchases
and 8 sales) 929,449 929,449 -
</TABLE>
Ex. 99.2-17
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Employee Benefits Committee has duly caused this Annual
Report to be signed on its behalf by the undersigned hereunto
duly authorized.
THRIFT PLAN FOR EMPLOYEES OF
MURPHY OIL CORPORATION
THRIFT PLAN FOR HOURLY
EMPLOYEES OF DELTIC FARM &
TIMBER CO., INC.
THRIFT PLAN FOR EMPLOYEES OF
MURPHY OIL USA, INC. REPRESENTED
BY THE UNITED STEELWORKERS OF
AMERICA, AFL-CIO, ON BEHALF OF
LOCAL UNION 8363
THRIFT PLAN FOR EMPLOYEES OF
MURPHY OIL USA, INC. REPRESENTED
BY THE INTERNATIONAL UNION OF
OPERATING ENGINEERS, LOCAL NO. 305
Date: June 28, 1994 By: /s/ Troy Eubanks
- - - -------------------- ---------------------------------
Troy Eubanks, Manager of Employee
Relations and Chairman of
Employee Benefits Committee,
Murphy Oil Corporation
Ex. 99.2-18
<PAGE>
FORM 11-K EXHIBIT A
INDEPENDENT AUDITORS' CONSENT
-----------------------------
The Board of Directors
Murphy Oil Corporation:
We consent to incorporation by reference in the Registration
Statements (Nos. 2-86749 and 2-86760) on Form S-8 of Murphy Oil
Corporation of our report dated June 15, 1994, relating to the
consolidating statements of net assets available for benefits of
the Combined Thrift Plans for Employees of Murphy Oil
Corporation, Murphy Oil USA, Inc., and Deltic Farm & Timber Co.,
Inc. (identified as the "Thrift Plan for Employees of Murphy Oil
Corporation," the "Thrift Plan for Hourly Employees of Deltic
Farm & Timber Co., Inc.," the "Thrift Plan for Employees of
Murphy Oil USA, Inc. Represented by the United Steelworkers of
America, AFL-CIO, on Behalf of Local Union 8363," and the "Thrift
Plan for Employees of Murphy Oil USA, Inc. Represented by the
International Union of Operating Engineers, Local No. 305") as of
December 31, 1993 and 1992, and the related consolidated and
individual fund statements of changes in net assets available for
benefits for each of the years in the three-year period ended
December 31, 1993, and related financial statements schedules of
Assets Held for Investment Purposes as of December 31, 1993, and
Reportable (5%) Transactions for the year ended December 31,
1993, which report appears in the December 31, 1993, annual
report on Form 11-K of Murphy Oil Corporation's Combined Thrift
Plans for Employees of Murphy Oil Corporation, Murphy Oil USA,
Inc., and Deltic Farm & Timber Co., Inc.
KPMG PEAT MARWICK
Shreveport, Louisiana
June 23, 1994
Ex. 99.2-A
