Murphy Oil Corp. CEO Roger Jenkins speaks Tuesday to the Atchafalaya API Chapter at the Petroleum Club of Morgan City.
The Daily Review/Bill Decker
Murphy Oil Corp. CEO Roger Jenkins, center, spoke Tuesday at the Atchafalaya American Petroleum Institute Chapter meeting in Morgan City. Shown from left are Burt Adams, Monsignor Douglas Courville, Jenkins, Herbie Kimble and Ray Autrey.
Business comes home: Murphy CEO speaks to local API
Murphy Oil Corp. CEO Roger Jenkins returned to Morgan City on Tuesday and brought some business with him.
Jenkins spoke to the Atchafalaya Chapter of the American Petroleum Institute at the Petroleum Club of Morgan City. The appearance coincides with Murphy’s move into the former Shell property in the Youngs Road area.
Four to eight people will work there, Jenkins said.
The facility will be used as storage needed as a result of Murphy’s recent acquisition of LLOG Exploration assets in the Gulf and its joint venture in the Gulf with Petrobras America, both part of a renewed focus by Murphy on North American offshore work.
“I wanted to help Morgan City out …,” said Jenkins, who got his start in the oilfield here with Texaco in 1984.
“This is the home of the real oilfield people, that corridor from Lafayette to Houma.”
It’s also an area with deep ties to Gulf offshore energy production, an area of renewed focus for El Dorado, Arkansas-based Murphy.
In March, Murphy subsidiaries sold their Malaysian exploration and drilling operations to PTT Exploration and Production of Bangkok for $2.1 billion and acquired five additional Gulf leases.
A few months later, Murphy announced that it was acquiring the LLOG assets in the Gulf for $1.6 billion. The Journal of Petroleum Technology quoted research analyst Imran Khan as saying the LLOG deal turned Murphy from the 20th largest producer in the Gulf to the eighth.
Jenkins pointed to the deals as he praised the 2017 Tax Cuts and Job Act. The Trump administration proposal has been controversial because of its impact on the national debt and its ambiguous job creation results.
But Jenkins said it helped bring American money home.
“When that tax reform came out,” he said, “it allowed people to repatriate a lot of money from abroad.”
One thing the energy industry shouldn’t worry about, Jenkins told the API members, is the idea that the focus on fossil fuel’s role in climate change will kill the oil industry.
He cited statistics from the International Energy Agency that show a continued need for oil and gas into 2040 even under the greenest scenarios, and even if electric cars become common.
Jenkins has been CEO of Murphy Oil Corp. since 2013.
According to his company biography, he has a petroleum engineering degree from LSU and a master of business administration degree from Tulane.
He joined Murphy in 2001 as drilling manager in Malaysia. In 2007, he became vice president and general manager of Murphy’s Sabah operations. Later that year, he became senior vice president for North America.
Jenkins was named president of Murphy Exploration and Production Co. in 2009 and chief operating officer for Murphy Oil Corp. in 2012.