Murphy Oil Corp.’s soon-to-be spin-off, Murphy USA, has entered into an agreement with Wal-Mart to add more than 200 new locations within its core market area covering the Midwest and Southeastern U.S.
Under the terms of the agreement, Murphy USA will have the opportunity to build new fuel stations at existing Walmart supercenters.
The construction program is expected to be completed over the next three years.
“This agreement represents a significant step forward in our long-term relationship with Wal-Mart as we pursue our business plan to separate the U.S. retail business into a stand-alone entity,” said Steven A. Cossé, Murphy Oil CEO.
Murphy Oil announced in October that it would separate its upstream and downstream businesses, forming a new publicly traded entity. Murphy Oil will become a pure-play exploration and production firm and Murphy USA will incorporate the company’s retail and refining assets.