David Looney, CFO of Murphy Oil, has announced his retirement, effective June 30, 2022. He will be replaced by Tom Mireles, who is currently Senior VP of Technical Services.
Murphy Oil has a market capitalization of $5.6 billion. It is the 5th largest producer in the Gulf of Mexico and also has producing assets in onshore Canada and the Eagle Ford shale basin. The company also owns exploratory blocks or interests in Australia, Brazil, Brunei, Mexico and Vietnam.
In 2020, it moved its head office from El Dorado, Arkansas to the Memorial City area.
Mr. Looney, who is 64, joined the company as its CFO in 2018. Mr. Mireles joined the company in 2005 and has held various roles such as Senior Manager of Planning and Business Development and Senior VP in both Eastern and Western hemispheres.
Mr. Mireles will receive a base salary of $500,000.