Deltic's history dates back to 1907 when C.H. Murphy, Sr. began investing in timberland and built a sawmill in south Arkansas. Mr. Murphy continued to acquire land through the years and in September 1952, he transferred his land holdings to the Murphy Corporation in exchange for common stock. With this transaction, Deltic Farm & Timber, Inc. was formed as a wholly-owned subsidiary of  Murphy Oil. In 1971, Deltic entered the lumber manufacturing business with the construction of a sawmill in Ola, Arkansas. A second mill in Waldo, Arkansas, was added in 1974. In 1989, Deltic began marketing residential property in Chenal Valley, its real estate development in west Little Rock, Arkansas. During 1996, construction began on the Company's medium density fiberboard joint venture in El Dorado, Arkansas. In late 1996, Murphy Oil declared a stock dividend to spin off Deltic Farm & Timber, which was reincorporated as Deltic Timber Corporation.