Group 1 - Murphy Oil (NYSE: MUR) increased its natural gas production in the second quarter and achieved better realized natural gas prices compared to the previous year [2] - The long-term outlook for natural gas is expected to improve, indicating a potential growth opportunity in the sector [2] - The oil and gas industry is characterized as a boom-bust, cyclical market, requiring patience and experience for successful investment [2]

Core Insights - Murphy Oil Corporation (MUR) reported second-quarter 2025 adjusted net earnings of 27 cents per share, exceeding the Zacks Consensus Estimate of 21 cents by 28.6%, but down 66.7% from 81 cents in the same quarter last year [1][8] - Revenues for Murphy Oil reached $695.6 million, surpassing the Zacks Consensus Estimate of $638 million by 8.9% [2] - The company produced 190,000 barrels of oil equivalent per day (BOE/D) in Q2 2025, exceeding the guidance range of 177,000-185,000 BOE/D, driven by strong performance in the Eagle Ford Shale and Tupper Montney region [3][8] Financial Performance - Total costs and expenses were $603.4 million, a decrease of 2.5% from $618.5 million a year ago, attributed to lower lease operating costs and exploration expenses [4] - Murphy Oil returned $193 million to shareholders in the first half of 2025, including $100 million in share repurchases and $93 million in dividends [4][8] - As of June 30, 2025, the company had cash and cash equivalents of $379.6 million, down from $423.6 million at the end of 2024, with long-term debt totaling $1.48 billion [7] Share Repurchase and Acquisitions - The board of directors authorized a share repurchase program allowing the company to repurchase up to $1.1 billion of its common stock, with $550.1 million remaining available as of June 30, 2025 [5][8] - In July 2025, Murphy Oil completed a small acquisition in the Eagle Ford Shale for $23 million and signed a rig contract for a three-well exploration program in Côte d'Ivoire [6] Future Guidance - For Q3 2025, Murphy Oil expects production to be in the range of 185,000-193,000 BOE/D, with 47% expected to be oil [9] - The company reiterated its 2025 capital expenditures guidance of $1.13-$1.28 billion, with Q3 capital expenditure projected at $260 million [9]

Financial Data and Key Metrics Changes - The company reported a sequential increase in production to 190,000 barrels of oil equivalents per day, exceeding the high end of guidance due to strong new well productivity from Eagle Ford Shale and Tuppermani assets [7] - Second quarter capital expenditures (CapEx) were $251 million, and total company lease operating expenses (LOE) were $11.8 per barrel of oil equivalent, both better than quarterly guidance [8] - The company achieved over $700 million in cumulative cash cost savings since 2019 through a reduction in general and administrative expenses and bond interest expenses [9] Business Line Data and Key Metrics Changes - The Eagle Ford Shale showed exceptional performance with a 30% increase in oil production on a two-month cumulative basis compared to past activity [38] - The company completed 10 wells in the Eagle Ford Shale and a four-well pad in Kaybob Duvernay early in the third quarter [8] - The Gulf Of America workover program is nearing completion, with the last significant planned workover expected to be online in August [31] Market Data and Key Metrics Changes - The company is focused on maintaining a competitive cost structure, with expected operating expenses in the $10 to $12 per barrel range for 2025 [9][90] - The company has a long-term diversification strategy in place to support its Montney asset, which remains profitable even at low AECO prices [64] Company Strategy and Development Direction - The company is committed to high-impact exploration and appraisal activities across three continents, testing resource potentials ranging from 500 million to over 1 billion barrels of oil equivalent [10] - The acquisition of the Pioneer FPSO is expected to lower costs and enhance future development potential in the Chinook field [20] - The company plans to prioritize share repurchases over further debt reduction, given its proximity to the net debt target of $1 billion [34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the exploration and appraisal program, highlighting significant volumes being tested and the potential for substantial resource discoveries [15][16] - The company anticipates that the appraisal well in Vietnam will provide confidence in a larger resource base, potentially supporting a 30,000 to 50,000 barrel per day business by the 2030s [42] - Management acknowledged challenges in offshore Canada but remains focused on improving uptime and production performance [87] Other Important Information - The company has signed a rig contract for its Cote D'Ivoire program, which is expected to test significant resource potential [17] - The company is evaluating the impact of the new tax legislation on its future cash tax position, with potential benefits estimated at $40 million to $50 million in outer years [51][52] Q&A Session Summary Question: Can you detail the near-term exploration program? - Management highlighted excitement about the exploration and appraisal program, with significant volumes being tested and a focus on upcoming wells in the Gulf Of America and Vietnam [15][16] Question: What is the strategy around the Chinook development well? - The acquisition of the FPSO is expected to lower costs and enhance the economic viability of the Chinook field, with plans to drill a high-rate development well in 2026 [20][21] Question: How is the Gulf Of America production performing? - Management confirmed that operational challenges have been addressed, and production is expected to improve as workover activities are completed [30][31] Question: What is the company's perspective on return of capital? - Management indicated a preference for share repurchases over debt reduction, especially if oil prices decline [34] Question: Can you expand on the Vietnam appraisal well? - The appraisal well aims to test for continuity of the reservoir and potentially deeper oil, with expectations of significant resource potential [41][42] Question: What changes have been made in Karnes completions? - Adjustments in completion design, including stage spacing and proppant loading, have contributed to improved well performance [101]

Financial Data and Key Metrics Changes - The second quarter production increased to 190,000 barrels of oil equivalents per day, exceeding guidance due to strong well productivity [6][7] - Capital expenditures (CapEx) for the second quarter were $251 million, with lease operating expenses at $11.8 per barrel of oil equivalent, both better than guidance [7][8] - Cumulative cash cost savings since 2019 exceeded $700 million, with over 50% reductions in general and administrative expenses and bond interest [8] Business Line Data and Key Metrics Changes - The Eagle Ford Shale and Tuppermani assets contributed significantly to production increases, with 10 new wells brought online in the Eagle Ford Shale [6][7] - The company completed its 2025 onshore well program, indicating strong operational execution across its multi-basin portfolio [6][7] Market Data and Key Metrics Changes - The Gulf Of America workover program is nearing completion, with expectations for operating expenses to range between $10 to $12 per barrel for 2025 [8] - The company is focused on maintaining a competitive cost structure, with a significant reduction in cash costs since 2019 [8] Company Strategy and Development Direction - The company is prioritizing high-impact exploration and appraisal activities across three continents, targeting over 500 million barrels of oil equivalent in resource potential [9][10] - The acquisition of the Pioneer FPSO is expected to enhance the economic viability of the Chinook field, with plans to drill a high-rate development well in 2026 [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming operational challenges in the Gulf Of America, with production expected to stabilize as workover activities conclude [31][32] - The company is likely to prioritize share repurchases over further debt reduction, contingent on oil price movements [34][35] Other Important Information - The appraisal well in Vietnam aims to test for continuity of reservoir and deeper oil, with potential to develop a 30,000 to 50,000 barrel per day business by the 2030s [45][46] - The company is monitoring the Western Canadian natural gas market, anticipating improvements due to the ramp-up of the LNG Canada facility [65][66] Q&A Session Summary Question: Can you detail the near-term exploration program? - The company plans to spud two wells in the Gulf Of America and an important appraisal well in Vietnam, with significant resource potential [16][17] Question: What is the strategy around the Chinook development well? - The acquisition of the FPSO allows for lower costs and enhanced development potential, with plans to drill a high-rate well in 2026 [21][22] Question: How is the Gulf Of America production performing? - Production has improved, and the backlog of workover activities is nearly resolved, with expectations for continued stability [31][32] Question: What is the perspective on return of capital? - The company is more likely to prioritize share repurchases over debt reduction, depending on oil price trends [34][35] Question: How do you view the Eagle Ford inventory? - Recent performance improvements in Karnes County wells have increased confidence in the remaining inventory, with expectations for continued strong results [41][42] Question: What is the outlook for offshore Canada? - There have been some disappointments with uptime at Terra Nova, affecting production guidance, but the facilities perform well when operational [87][88]

2025 SECOND QUARTER EARNINGS CONFERENCE CALL AND WEBCAST AUGUST 7, 2025 ERIC M. HAMBLY PRESIDENT AND CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 1 NYSE: MUR Cautionary Statement Cautionary Note to US Investors – The United States Securities and Exchange Commission (SEC) requires oil and natural gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing ...

Core Insights - Murphy Oil reported a revenue of $695.57 million for the quarter ended June 2025, reflecting a decrease of 13.4% year-over-year, while EPS was $0.27 compared to $0.81 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $638.47 million by 8.94%, and the EPS also surpassed the consensus estimate of $0.21 by 28.57% [1] Financial Performance - The company experienced a decline in revenue from exploration and production in the United States, reporting $553.5 million, which is an 18.5% decrease year-over-year, while revenue from Canada increased by 7.8% to $128.3 million [4] - Total revenue from sales to customers was $683.07 million, down 14.7% year-over-year, and revenue from production specifically was also down 14.4% [4] Production Metrics - Murphy Oil's total net crude oil and condensate production was 95.6 thousand barrels per day, exceeding the analyst estimate of 91.47 thousand barrels per day [4] - The company reported net natural gas liquids production of 10.77 thousand barrels per day, surpassing the average estimate of 9.71 thousand barrels per day [4] - Total net hydrocarbons production was 196.32 KBOE/D, which is higher than the estimated 184.57 KBOE/D [4] Stock Performance - Over the past month, Murphy Oil's shares have returned -7.9%, contrasting with the Zacks S&P 500 composite's +0.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Murphy Oil (MUR) reported quarterly earnings of $0.27 per share, exceeding the Zacks Consensus Estimate of $0.21 per share, but down from $0.81 per share a year ago, representing an earnings surprise of +28.57% [1] - The company posted revenues of $695.57 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 8.94%, but down from $802.77 million year-over-year [2] - Murphy Oil shares have declined approximately 21.2% year-to-date, contrasting with the S&P 500's gain of 7.1% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $669.94 million, and for the current fiscal year, it is $1.68 on revenues of $2.65 billion [7] - The estimate revisions trend for Murphy Oil was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Oil and Gas - Exploration and Production - United States industry is currently in the bottom 27% of over 250 Zacks industries, suggesting potential challenges for stocks within this sector [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-8590 MURPHY OIL CORPORATION (Exact name of registrant as specified in its charter) Delaware 71-0361522 (I.R.S. Employer Identificat ...

EXHIBIT 99.1 MURPHY OIL CORPORATION ANNOUNCES SECOND QUARTER RESULTS Delivered Sequential Increase in Production to 190 MBOEPD and 90 MBOPD Returned Over $190 Million to Shareholders in First Half 2025 HOUSTON, Texas, August 6, 2025 – Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the second quarter ended June 30, 2025. RETURN OF CAPITAL In the second quarter of 2025, return of capital totaled $46 million through the quarterly dividend. Through the first half of 2 ...

Core Viewpoint - Murphy Oil Corporation (MUR) is expected to report its second-quarter 2025 results on August 6, with a prior earnings surprise of 16.7% in the last quarter [1] Group 1: Factors Impacting Q2 Results - Quarterly earnings are anticipated to benefit from increased production in both domestic and international assets, along with new wells added in the first and second quarters [2] - The overall financial performance and free cash flow have improved due to production increases from a diverse, low breakeven North American portfolio, allowing for enhanced shareholder returns through stock repurchases [3] - A five-year agreement with BW Offshore finalized in March 2025 is expected to increase offshore net proved reserves by 5% and reduce annual net operating costs by $50 million [4] - Increased capital investments are likely to further enhance offshore operations and contribute positively to second-quarter performance [4] - Ongoing debt-reduction initiatives are expected to lower capital servicing expenses, thereby improving margins [5] Group 2: Q2 Expectations - The Zacks Consensus Estimate for earnings is set at 21 cents per share, reflecting a year-over-year decrease of 74.1%, while revenues are estimated at $638.47 million, indicating a decrease of 20.5% year over year [6] - Quarterly production, excluding NCI, is anticipated to be between 177,000 and 185,000 barrels of oil equivalent per day (MBOEPD), with 48% expected to be oil [7] - The Zacks Consensus Estimate for production is pegged at 184.57 MBOEPD [7] Group 3: Earnings Prediction - The current model does not predict an earnings beat for Murphy Oil, with an Earnings ESP of 0.00% and a Zacks Rank of 3 [8][9] - Despite the positive factors, the combination of metrics does not indicate a likelihood of an earnings surprise this quarter [8]