Legal DealFolio - Murphy Oil Wisconsin 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 Superior, Wisconsin, and related assets, to Calumet Specialty Products Partners, L.P. for a sales price of $214 million plus the value of hydrocarbon inventory, and subject to certain other adjustments. The hydrocarbon inventory will be valued based on market prices at closing (the inventory was valued at approximately $260 million as of June 30, 2011). The transaction, which is expected to close later in the third quarter or fourth quarter of 2011, is subject to customary regulatory approvals and conditions. 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. Indianapolis, Indiana-headquartered Calumet Specialty Products Partners, L.P. is a refiner and processor of specialty hydrocarbon products operating six plants, including operations in Northwest Louisiana, Pennsylvania, Texas and Illinois. The Davis Polk corporate team includes partner William L. Taylor, counsel Ajay B. Lele and associate Carlo M. Caponi. Counsel Betty M. Huber is 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:	25-07-2011	Practice Area:	Corporate and M&A
Deal Title:	Murphy Oil Wisconsin 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 Superior, Wisconsin, and related assets, to Calumet Specialty Products Partners, L.P. for a sales price of $214 million plus the value of hydrocarbon inventory, and subject to certain other adjustments. The hydrocarbon inventory will be valued based on market prices at closing (the inventory was valued at approximately $260 million as of June 30, 2011). The transaction, which is expected to close later in the third quarter or fourth quarter of 2011, is subject to customary regulatory approvals and conditions. 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. Indianapolis, Indiana-headquartered Calumet Specialty Products Partners, L.P. is a refiner and processor of specialty hydrocarbon products operating six plants, including operations in Northwest Louisiana, Pennsylvania, Texas and Illinois. The Davis Polk corporate team includes partner William L. Taylor, counsel Ajay B. Lele and associate Carlo M. Caponi. Counsel Betty M. Huber is 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