Murphy Oil CFO David Looney to Retire; Tom Mireles Named Successor

Murphy Oil Corp. CFO David R. Looney is set to retire later this year, the company said March 9 adding that Thomas J. “Tom” Mireles has been elected to serve as Looney’s replacement.

“As a key member of the executive team, we want to recognize and thank David for his significant contributions during a transformative time in our company, and wish him all the best on his pending retirement,” Roger W. Jenkins, president and CEO of Murphy Oil, said of Looney’s retirement in a company release.

Looney relinquish his position as executive vice president and CFO on June 30 after a 38-year financial career. He joined Murphy in 2018 and helped modernize Murphy’s financial function, as well as leading efforts to strengthen the Houston-based E&P company’s balance sheet following the global COVID-19 pandemic.

Effective upon Looney’s retirement, Mireles will assume Looney’s responsibilities, as well as maintain oversight of the company’s sustainability function, according to the company release.

“In addition, we want to acknowledge that Tom’s outstanding leadership skills and in-depth knowledge about Murphy, financial operations and sustainability position him to be successful with his new responsibilities, and I want to congratulate him on his new role,” Jenkins continued in his statement in the release.

Joining the company in 2005, Mireles has a proven track record with Murphy as he earned roles with increasing responsibility, the company release said, culminating in his most recent position as senior vice president, technical services.

While working at the company, Mireles has gained extensive experience in managing multiple disciplines, including senior manager planning and business development, as well as gaining significant operational experience serving as a senior vice president in both the Western and Eastern Hemispheres. 

“As we look to the future,” Jenkins said, “Tom and his team will continue with Murphy’s ongoing commitment to sustainability efforts, as well as fulfill Murphy’s commitment to delever, execute and explore.”

Murphy Oil an independent oil and natural gas E&P company with both onshore and offshore assets.

Onshore, Murphy owns and operates the majority of its North American onshore assets, which are located in the Eagle Ford Shale in the U.S., and Kabob Duvernay and Tupper Montney in Canada. Meanwhile, offshore, Murphy drills for and produces oil and natural gas from several operated and non-operated fields across more than 100 blocks in the deepwater Gulf of Mexico. The company also has several exploration prospects across 51 blocks in the Gulf of Mexico and other offshore exploration blocks are located in offshore Mexico, Brazil, Vietnam and Australia.

Prior to Murphy, Mireles started his career in 1996 as a petroleum engineer for a major integrated energy company. He received bachelor’s and master’s degrees in petroleum engineering from Texas A&M University and a Master of Business Administration from the London Business School. In addition, he completed the following executive programs through Harvard Business School: advanced management program, high potentials leadership program, and succeeding as a strategic CFO.