Murphy Oil Corp. (NYSE: MUR) said Feb. 7 that Eugene T. (Gene) Coleman, executive vice president of exploration and business development for the El Dorado, Ark.-based oil and gas company, will retire by the end of the month.

After 17 years of service at Murphy and more than 38 years of energy industry experience, Coleman elected to retire effective Feb. 28. He has been instrumental in building and restructuring Murphy’s offshore and exploration organizations and, most recently, was a key player in negotiating and closing the Gulf of Mexico transaction with Petrobras, according to the company press release.

Eugene T. (Gene) Coleman, executive vice president of exploration and business development.
Eugene T. (Gene) Coleman,
executive vice president of
exploration and business
development, will retire effective
Feb. 28. (Source: Murphy Oil Corp.)

At that time of Coleman’s retirement, the responsibility for exploration will be assumed by Michael K. (Mike) McFadyen, executive vice president of offshore. The responsibility for business development will be assumed by David R. Looney, executive vice president and CFO.

“On behalf of the company and the board of directors, I want to thank Gene for his many years of service and wish him all the best in retirement,” Roger Jenkins, Murphy’s president and CEO, said in a statement. “Gene is an exceptional leader who has provided sound strategic advice and guidance in managing the vast array of operations for the company, and his contributions will be greatly missed.”

Coleman joined Murphy in 2001 as subsea systems manager and quickly earned roles with increasing responsibilities abroad and domestically, culminating in being named executive vice president of offshore in 2016 and then transitioning to his current role in 2018. He is widely recognized for his longstanding commitment to Murphy and the company’s multi-decade success, the company release said.

“As I am excited to begin the next chapter of my life, I am optimistic for Murphy as it enters this year with a solid portfolio of assets and robust business opportunities, a strong leadership team and exceptional, devoted people,” Coleman said in a statement. “Over my lengthy career in the oil and natural gas business, I have been afforded extensive opportunities to work with wonderful people around the globe. I will be leaving behind a great company.”

Murphy’s portfolio includes offshore production in Southeast Asia, Canada and Gulf of Mexico, as well as North America onshore plays in the Eagle Ford Shale, Kaybob Duvernay and Montney.