Legal DealFolio - Murphy Oil Louisiana Refinery Sale

Davis Polk is advising Murphy Oil Corporation in connection with the sale by its wholly owned subsidiary, Murphy Oil USA, Inc., of its refinery in Meraux, Louisiana, and related assets, to a subsidiary of Valero Energy Corporation for a sale price of $325 million plus the value of hydrocarbon inventory. The hydrocarbon inventory will be valued based on market prices at closing (the inventory is currently valued at approximately $300 million). The transaction is subject to customary regulatory approvals and conditions and is expected to close in the fourth quarter of 2011. Headquartered in El Dorado, Arkansas, Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom. Murphy Oil USA, Inc. engages in refining, marketing and transportation of petroleum products in the United States. Headquartered in San Antonio, Texas, Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. The Davis Polk corporate team includes partner William L. Taylor, counsel Ajay B. Lele and associate Carlo M. Caponi. Counsel Betty M. Huber and associate Hayden S. Baker are providing environmental advice. The tax team includes partner Kathleen L. Ferrell. Counsel John T. Wright is providing employee benefits advice. Partner Frank J. Azzopardi is providing intellectual property advice. Counsel James P. McIntyre is providing real estate advice. All members of the Davis Polk team are based in the New York office.

Deal Date:	09-09-2011	Practice Area:	Corporate and M&A
Deal Title:	Murphy Oil Louisiana Refinery Sale	Industry:	Oil & Gas Producers
Description:	Davis Polk is advising Murphy Oil Corporation in connection with the sale by its wholly owned subsidiary, Murphy Oil USA, Inc., of its refinery in Meraux, Louisiana, and related assets, to a subsidiary of Valero Energy Corporation for a sale price of $325 million plus the value of hydrocarbon inventory. The hydrocarbon inventory will be valued based on market prices at closing (the inventory is currently valued at approximately $300 million). The transaction is subject to customary regulatory approvals and conditions and is expected to close in the fourth quarter of 2011. Headquartered in El Dorado, Arkansas, Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom. Murphy Oil USA, Inc. engages in refining, marketing and transportation of petroleum products in the United States. Headquartered in San Antonio, Texas, Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. The Davis Polk corporate team includes partner William L. Taylor, counsel Ajay B. Lele and associate Carlo M. Caponi. Counsel Betty M. Huber and associate Hayden S. Baker are providing environmental advice. The tax team includes partner Kathleen L. Ferrell. Counsel John T. Wright is providing employee benefits advice. Partner Frank J. Azzopardi is providing intellectual property advice. Counsel James P. McIntyre is providing real estate advice. All members of the Davis Polk team are based in the New York office.
Financial Center:	New York	Value:	0.00-100.00
Advised Party:	Vendor	Law Firm	Davis Polk
Target Company Jurisdiction:	United States	Acquiror Jurisdiction:	United States
Classification:	Strategic Buyer Acquisitions Asset Sales	Lawyer	William L Taylor

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers