Murphy Oil CEO’s pay rose to $12.9M in ’17

Roger Jenkins, chief executive officer of El Dorado-based Murphy Oil Corp., earned $12.9 million in total compensation in 2017, according to a proxy statement filed Friday with the U.S. Securities and Exchange Commission.

Murphy said Jenkins’ total compensation was 113 times the median pay ($115,353) of the rest of the company’s employees — a comparison required under the Dodd-Frank financial law.

Jenkins’ compensation included a base salary of $1.3 million, stock awards of $6.1 million, and $2.1 million in nonequity incentive plan compensation.

His total compensation in 2016 was $8.5 million, down from $14 million in 2015, when the company froze base salaries in the wake of slumping oil prices. As oil prices rebounded, the company’s compensation committee voted in February 2017 to increase base salaries.

Murphy Oil’s annual meeting starts at 10 a.m. May 9 at the South Arkansas Arts Center in El Dorado.