Murphy Oil Corp. (NYSE: MUR) said Feb. 21 that it has elected David R. Looney to serve as executive vice president and CFO effective March 1, 2018.

Looney will succeed John W. Eckart who intends to retire from the company later this year. Eckart will relinquish his position as CFO on March 1, 2018, but continue in active service for a period of time to assist in the transition.

Looney is an experienced financial executive with a broad range of leadership roles at both offshore deepwater Gulf of Mexico and U.S. onshore unconventional exploration and production companies.

Over his 38-year career, Looney has specialized in the financing of various exploration and production companies as well as other energy businesses. Looney holds both bachelor’s and master’s of science degrees from Texas A&M University.

“David is an experienced CFO who is well-known in the energy markets and we now look to him to continue our ongoing commitment to financial discipline,” Roger W. Jenkins, Murphy Oil’s CEO and president, said.