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Murphy Oil Selects SolArc Solution for Managing Refining and Marketing Commercial Operations; SolArc RightAngle Manages Feedstock Supply, Trading and Refined Products Marketing Including Price and Credit Risk Exposures

Posted on: Monday, 17 October 2005, 09:00 CDT

SolArc, Inc., a leading provider of enterprise supply, trading and risk management solutions for the global energy industry, announced today that Murphy Oil (NYSE:MUR) has selected the SolArc RightAngle solution to manage their global petroleum supply chain.

"The outcome of our product evaluation in comparing several solutions was that SolArc RightAngle provided the best combination of product strength, commitment to the customer and industry expertise," said Gary Bates, Ph.D., vice president of trading for Murphy Oil. "We were very impressed with SolArc RightAngle's ability to provide customized reports that support our trading decision-making at every level, from the individual trader all the way to top management."

Murphy Oil operates a global upstream and downstream business, engaged in the exploration, production, refining and marketing of oil and gas worldwide. It sells refined products in the U.S. through a network of 366 SPUR (wholesale) and 838 Murphy USA (retail) gas stations. According to Bates, Murphy Oil chose SolArc RightAngle because of its ability to accurately manage the company's supply to its wholesale and retail customers. In addition to the downstream management of fuel to the end user, Murphy Oil was also impressed with SolArc RightAngle's overall scheduling capabilities, which gives the company the ability to estimate its positions and view updated product inventories at any time.

"Another critical requirement for Murphy was the ability to report and manage credit exposure," said Laura Brown, corporate credit manager for Murphy Oil. "SolArc's credit risk module, CreditCenter, will play a role in enabling Murphy Oil to comply with the Sarbanes-Oxley Act (SOX). CreditCenter integrates fully and seamlessly into SolArc RightAngle to leverage all the high quality transactional data generated by the system. This ensures that Murphy Oil's credit department has a full and auditable picture of overall exposure to credit risk, a key component to SOX compliance."

"CreditCenter should allow us to segment our credit exposure by counterparty, by commodity or by terminal, which should give us near real-time data that allows us to enforce our credit policies across our global enterprise without waiting for spreadsheets to be compiled and delivered," said Brown. "Using an integrated system like SolArc RightAngle also provides an audit trail to track changes to credit documents, a requirement under SOX."

Brown will participate in a workshop titled, "Credit Management for Marketing Fuels," at SolArc ASCENT 2005, an industry event to be held at the Hilton Americas Hotel in Houston on Oct. 26-27, 2005.

Since it was launched in 1994, SolArc RightAngle has become the leading supply and trade management solution for the crude oil, refined products, coal, natural gas liquids and aviation fuel commodities. SolArc RightAngle offers enterprise integration between traders, schedulers and accountants, providing each with the best available, up-to-date information needed to manage complex trading activities. SolArc RightAngle's architecture is built to interface seamlessly with leading ERP and financial management systems.

"SolArc is committed to supporting the supply, trading and risk management solution requirements of global refining and marketing companies," said Dale St. Denis, vice president of solutions marketing for SolArc. "We believe there are significant cash flow and working capital benefits for refining and marketing companies that manage all energy supply and trading activities with one integrated solution. We have seen other SolArc customers including Chevron and ConocoPhillips capture these benefits and reduce their IT infrastructure costs that support trading operations."

About SolArc, Inc.

SolArc is a leading provider of enterprise supply and trade management solutions for global energy companies. The flagship product, SolArc RightAngle, integrates deal capture, scheduling, inventory management, pricing, accounting, credit, position reporting and risk analysis in a single platform solution. Customers receive competitive advantages from reduced transaction costs and improved supply decisions based on accurate position reporting and inventory management. For more information on SolArc's products, contact SolArc at http://www.solarc.com. To register for SolArc ASCENT 2005, you may register online at http://www.solarc.com/conf2005/ or call 918-732-7257 and ask for ASCENT registration.

About Murphy Oil

Murphy Oil Corporation (NYSE symbol: MUR) operates a global upstream and downstream business. Murphy operates as a holding company that engages in the exploration, production, refining, and marketing of oil and gas worldwide. Its activities are segregated into Exploration and Production, and Refining and Marketing divisions. The Exploration and Production division explores for and produces crude oil, natural gas, and natural gas liquids worldwide. The Refining and Marketing division primarily consists of operations that refine crude oil and other feedstocks into petroleum products, such as gasoline and distillates; buy and sell crude oil and refined products; and transport and market petroleum products. The company has an interest in a Canadian synthetic oil operation, owns two petroleum refineries in the United States, and has an interest in a refinery in the United Kingdom. Web site: http://www.murphyoilcorp.com.

SolArc is a registered trademark of SolArc, Inc. Other names may be trademarks of their respective owners.

Source: Business Wire

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