Subsequent Events	12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Note U – Subsequent Events In January 2016, a Canadian subsidiary of the Company signed a definitive agreement to divest natural gas processing and sales pipeline assets that support Murphy’s Montney natural gas fields in the Tupper area of northeastern British Columbia. Total cash consideration to Murphy upon closing of the transaction, anticipated near the end of the first quarter 2016, is expected to be C$538 million. In a separate transaction, the same Canadian subsidiary signed a definitive agreement to acquire a 70 percent operated working interest (WI) of Athabasca Oil Corporation’s (Athabasca) production, acreage, infrastructure and facilities in the Kaybob Duvernay lands, and a 30 percent non-operated WI of Athabasca’s production, acreage, infrastructure and facilities in the liquids rich Montney lands in Alberta. Under the terms of the joint venture the total consideration amounts to C$475 million, of which Murphy will pay approximately C$250 million in cash at closing and the remaining C$225 million in the form of a carried interest for a period of up to five years. The transaction is expected to close near the end of the first quarter of 2016. As of December 31, 2015, Murphy’s long-term debt was rated “BBB” with a negative outlook by Standard and Poor’s (S&P), “BBB-“ with a negative outlook by Fitch Ratings (Fitch), and “Baa3” with a negative outlook by Moody’s Investor Services (Moody’s). In February 2016, S&P, Fitch, and Moody’s each downgraded the Company’s credit rating on its outstanding notes. The Company’s long-term debt ratings are currently “BBB-“ with stable outlook by S&P, “BB+” with stable outlook by Fitch, and “B1” with negative outlook by Moody’s. Fitch’s and Moody’s actions reduced the Company’s credit rating to below investment grade status. These downgrades could adversely affect our cost of capital and our ability to raise debt in public markets in future periods. Based on the downgrade by Moody’s, the coupon rates on $1.5 billion of the Company’s outstanding notes will increase by 1.00% effective June 1, 2016. See Note O for further discussion of rig contract exit costs.

Note U – Subsequent Events

In January 2016, a Canadian subsidiary of the Company signed a definitive agreement to divest natural gas processing and sales pipeline assets that support Murphy’s Montney natural gas fields in the Tupper area of northeastern British Columbia. Total cash consideration to Murphy upon closing of the transaction, anticipated near the end of the first quarter 2016, is expected to be C$538 million.

In a separate transaction, the same Canadian subsidiary signed a definitive agreement to acquire a 70 percent operated working interest (WI) of Athabasca Oil Corporation’s (Athabasca) production, acreage, infrastructure and facilities in the Kaybob Duvernay lands, and a 30 percent non-operated WI of Athabasca’s production, acreage, infrastructure and facilities in the liquids rich Montney lands in Alberta. Under the terms of the joint venture the total consideration amounts to C$475 million, of which Murphy will pay approximately C$250 million in cash at closing and the remaining C$225 million in the form of a carried interest for a period of up to five years. The transaction is expected to close near the end of the first quarter of 2016.

As of December 31, 2015, Murphy’s long-term debt was rated “BBB” with a negative outlook by Standard and Poor’s (S&P), “BBB-“ with a negative outlook by Fitch Ratings (Fitch), and “Baa3” with a negative outlook by Moody’s Investor Services (Moody’s). In February 2016, S&P, Fitch, and Moody’s each downgraded the Company’s credit rating on its outstanding notes. The Company’s long-term debt ratings are currently “BBB-“ with stable outlook by S&P, “BB+” with stable outlook by Fitch, and “B1” with negative outlook by Moody’s. Fitch’s and Moody’s actions reduced the Company’s credit rating to below investment grade status. These downgrades could adversely affect our cost of capital and our ability to raise debt in public markets in future periods. Based on the downgrade by Moody’s, the coupon rates on $1.5 billion of the Company’s outstanding notes will increase by 1.00% effective June 1, 2016.

See Note O for further discussion of rig contract exit costs.