EL DORADO, Arkansas (KNWA) – A major money shakeup in Southern Arkansas, Murphy Oil Corporation is relocating its corporate headquarters to Houston Texas.
“The impact of them leaving cant be measured in dollar signs,” said Arkansas State Senator Trent Garner.
Arkansas State Senator Trent Garner said COVID-19 is likely a culprit in pushing this move.
“While it’s a very disappointing day in El Dorado and Union County, we understand that they are under some very hard financial times during this unprecedented pandemic and the oil market being where its at.”SENATOR TRENT GARNER
In the press release from Murphy Oil, chairman Claiborne Deming is quoted saying, “We simply do not have a choice and came to this decision only after exhausting all other cost-saving measures.”
“It’s 80 good-paying jobs that are gone but more importantly Muphy Oil has been a steward in El Dorado Union County for 100 years now,” said Garner.
“We saw this coming for a while now but you never want to get that news,” said El Dorado Mayor, Veronica Smith-Creer.
El Dorado Mayor Veronica Smith-Creer took to social media sharing the news, adding two things will not be changing.
“The El Dorado promise will continue and Murphy USA will continue to be here in El Dorado,” said Mayor Smith-Creer.
The El Dorado Promise is a scholarship program for students in the El Dorado School District.
It covers tuition and other fees for graduates pursuing associate’s or bachelor’s degrees.
“We will recover from this and we will come out stronger in the long run,” said Garner.
According to Murphy Oil, longstanding offices in Calgary, Alberta, and Canada will be closing as well.
The company says 110 jobs there will be impacted.