Murphy Oil Corporation of El Dorado, Arkansas ties its growth prospects to its Canadian assets. Its wholly-owned Canadian subsidiary, Murphy Oil Company Ltd. of Calgary, has an interest in three significant non-operated assets: Hibernia and Terra Nova fields off Newfoundland and a 5% stake in Syncrude Canada Ltd. in Alberta. The company also owns interests in one heavy oil area, two significant natural gas areas and light oil prospective acreage in Western Canada.
Oil and natural gas daily production for 2012 in Western Canada, excluding Syncrude, is expected to be about 10,200 barrels and 243 million cubic feet, with the increase in natural gas volumes primarily due to ramp-up production at Tupper West. Total Western Canada proven oil and natural gas reserves in 2011, excluding Syncrude, were 19.2 million barrels and 633.6 billion cubic feet, respectively. During 2011, the company also added approximately 145,000 acres of land in Alberta to prospect for light oil.
Of the company’s $1.2 billion development expenditures for 2011, over 50% was invested in Canada, with one-half of Canadian spending going to natural gas development and the remainder to be spent on continued development of existing oil fields.
Over 20% of Murphy Oil’s overall production comes from Canadian resources and the company’s strategy for further investments into Canada will ensure the company’s future growth.
Bentonville, Arkansas-based Walmart’s Canadian operations are prospering well. At the end of May 2012, Walmart Canada operated 333 retail units (168 Supercentres and 165 Discount stores) throughout the country, with about 90,000 employees. Walmart is Canada’s fastest-growing retailer in both the grocery and general-merchandise sectors.
Walmart, the world’s third-largest corporation, has been in business north of the border since 1994. The company has built up a supply-chain network of more than 5,000 Canadian suppliers and service-providers. During 2012–13, Walmart Canada plans to complete 73 projects, including the opening of new stores and expanding, remodeling or re-locating existing stores, representing an investment of $742 million.
Consulate General of Canada
500 N. Akard Street, Suite 2900 • Dallas, TX 75201
Phone: (214) 922-9806 • Fax: (214) 922-9815
Consulate of Canada
5847 San Felipe Street, Suite 1700 • Houston, TX 77057
Phone: (713) 821-1440 • Fax: (713) 821-1611
Unless otherwise mentioned, all figures are based on 2011 data in U.S. dollars (US$1.00=C$0.9891). Statistics Canada: tourism, based on combined same-day and overnight travel (5/2012 release); goods & services trade (2/2012 release). World Institute for Strategic Economic Research (WISER): Canada’s export ranking (2/2012 release). U.S. Census Bureau: trade (2/2012 release). Services trade data not available at a sub-national level. Figures may not add up due to rounding. Produced by the Embassy of Canada in Washington, D.C.
Arkansas sells more goods to Canada than to the state’s next three largest foreign markets combined
* Job numbers from trade (2010 data) and Canadian-owned businesses (2009 data) are from a 2012 study commissioned by the Government of Canada