Murphy Oil sells Wisconsin refinery to Calumet

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Murphy Oil Corp. (MUR:NYSE) recently agreed to sell a Wisconsin refinery to Calumet Specialty Products Partners (CLMT:NASDAQ).

The Indianapolis-based Calumet paid $214 million for the 33,250-b/cd facility, which is located in Superior, according to the Oil & Gas Journal. In addition, the sales price includes the value of hydrocarbon inventory, which was valued at $260 million on June 30.

The news source reports that the El Dorado, Arkansas-based Murphy is hoping to sell a number of other refineries as well. These reportedly include its 125,000-b/cd refinery in Meraux, Louisiana and a 106,000-b/cd in Milford Haven, Wales.

Murphy Oil is reportedly planning to concentrate on exploration and production, in addition to retailing in the United States.

According to MarketWatch, the 52-week high of Murphy's oil stock was $78.16. Its low over that same period was $52.80. It is currently trading at $64.26 and rising.

Personnel with Calumet said that the acquisition will increase the company's throughput capacity by 50 percent, reports the Oil & Gas Journal.