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Murphy Oil(MUR) - 2023 Q1 - Earnings Call Presentation
2023-05-03 14:58
King's Quay 1-Year Anniversary Apr 5, 2023 • > 30 MMBOE gross cumulative production in 1 year • Achieved recent gross production record of 126 MBOEPD • 97% average uptime • St. Malo waterflood continuing ahead of first water injection in 2H 2024 • Terra Nova anticipated return to production at year-end 2023 Offshore Canada Development Projects 13 www.murphyoilcorp.com NYSE: MUR Exploration Update Advancing Gulf of Mexico Operated Exploration Plans | --- | --- | --- | --- | --- | --- | --- | --- | |-------|- ...
Murphy Oil(MUR) - 2023 Q1 - Quarterly Report
2023-05-03 10:43
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 March 31, 2023 OR (Zip Code) (281) 675-9000 (Registrant's telephone number, including area code) ☐ 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 registra ...
Murphy Oil(MUR) - 2022 Q4 - Annual Report
2023-02-27 11:56
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 (State or other jurisdiction of incorporati ...
Murphy Oil(MUR) - 2022 Q4 - Earnings Call Transcript
2023-01-26 21:12
Murphy Oil Corporation (NYSE:MUR) Q4 2022 Earnings Conference Call January 26, 2022 9:00 AM ET Company Participants Kelly Whitley - Vice President, Investor Relations & Communications Roger Jenkins - President & Chief Executive Officer Tom Mireles - Executive Vice President & Chief Financial Officer Eric Hambly - Executive Vice President of Operations Conference Call Participants Arun Jayaram - JPMorgan Charles Meade - Johnson Rice Leo Mariani - MKM Paul Cheng - Scotiabank Neal Dingmann - Truist Securities ...
Murphy Oil(MUR) - 2022 Q3 - Earnings Call Transcript
2022-11-03 20:24
Murphy Oil Corporation (NYSE:MUR) Q3 2022 Earnings Conference Call November 3, 2022 10:00 AM ET Company Participants Kelly Whitley - Vice President, Investor Relations & Communications Roger Jenkins - President & Chief Executive Officer Tom Mireles - Executive Vice President & Chief Financial Officer Eric Hambly - Executive Vice President, Operations Conference Call Participants Neal Dingmann - Truist Securities Leo Mariani - MKM Paul Cheng - Scotiabank Charles Meade - Johnson Rice Operator Good morning la ...
Murphy Oil(MUR) - 2022 Q3 - Earnings Call Presentation
2022-11-03 18:35
0 www.murphyoilcorp.com NYSE: MUR 2022 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 3, 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER Cautionary Statement and Investor Relations Contacts 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 leg ...
Murphy Oil (MUR) Investor Presentation - Slideshow
2022-09-09 21:15
0 www.murphyoilcorp.com NYSE: MUR INVESTOR UPDATE SEPTEMBER 2022 SECURING SHARED VALUES delever execute explore Cautionary Statement and Investor Relations Contacts 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 economic and op ...
Murphy Oil(MUR) - 2022 Q2 - Earnings Call Transcript
2022-08-04 19:25
Financial Data and Key Metrics Changes - In Q2 2022, the company reported net income of $351 million, or $2.23 per diluted share, marking the highest quarterly earnings from continuing operations in nearly a decade [18] - Adjusted net income was $305 million, or $1.93 per diluted share, with cash from operations totaling $621 million for the quarter [19][21] - The company achieved positive adjusted cash flow of $267 million after accounting for net property additions and acquisitions [19] Business Line Data and Key Metrics Changes - The company produced 164,000 barrels of oil equivalent per day in Q2 2022, with 62% being liquids, exceeding production guidance due to strong performance in the Gulf of Mexico and Eagle Ford shale [14] - In the Eagle Ford Shale, production reached 36,000 barrels of oil equivalent per day, with 86% being liquids, and 23 operated wells were brought online [24] - The Tupper Montney produced 275 million cubic feet per day, achieving a record high gross production peak of 415 million cubic feet per day across the entire asset [27] Market Data and Key Metrics Changes - Realized prices for oil were $109 per barrel, with NGLs at $41 per barrel and natural gas net back nearly $4 per thousand cubic feet [14] - The company is targeting a production range of 180,000 to 188,000 barrels equivalent per day for Q3 2022, accounting for downtime [38] Company Strategy and Development Direction - The company focuses on three strategic priorities: delever, execute, and explore, with a goal of reducing long-term debt by $600 million to $650 million in 2022 [7][42] - A new capital allocation framework was introduced, allowing for additional shareholder returns through share repurchases and potential dividend increases tied to debt levels [42][46] - The company aims to achieve a long-term debt target of $1 billion, with a multi-tier capital allocation strategy based on adjusted free cash flow [42][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to sustain operations and return capital to shareholders while maintaining a strong balance sheet [74] - The company anticipates continued strong performance in the Gulf of Mexico and Eagle Ford, with plans to maintain capital spending levels despite inflation [66][68] - Management highlighted the importance of operational execution and the potential for increased production as new wells come online [81] Other Important Information - The company has made significant progress in emissions reduction, achieving a 20% reduction in greenhouse gas emissions and a 49% reduction in flaring intensity from 2019 to 2021 [16] - The company announced a 100% increase in its annualized dividend to $1 per share, restoring it to pre-2020 levels [12] Q&A Session Summary Question: Debt repayment strategy as it approaches $1.8 billion - Management indicated that the timing of debt repayment will depend on the price environment, with a preference for tender offers to manage longer-dated maturities [54] Question: Steps to achieve investment grade rating - Management noted that operational execution and continued debt reduction are key to achieving an investment grade rating, which would lower the cost of capital [55] Question: Capital spending outlook in light of commodity prices - Management confirmed that there are no changes to the capital plan for onshore projects, with a focus on maintaining spending levels [66] Question: Acquisition environment in the Gulf of Mexico - Management expressed confidence in their competitive advantage in M&A, focusing on high-return, accretive deals [60][62] Question: Future capital allocation and M&A opportunities - Management stated that attractive M&A opportunities would be evaluated against the capital allocation framework, with a high bar for acquisitions [89] Question: Production profile expectations for Khaleesi Mormont Samurai fields - Management expects to approach facility capacity with new wells coming online, anticipating a strong exit rate for Q4 2022 [97] Question: Timeline for the Tulum exploration well - The Tulum well is expected to spud in October 2022, with results anticipated approximately two months later [93]
Murphy Oil(MUR) - 2022 Q2 - Earnings Call Presentation
2022-08-04 14:15
0 www.murphyoilcorp.com NYSE: MUR 2022 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 4, 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER Cautionary Statement and Investor Relations Contacts 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 lega ...
Murphy Oil(MUR) - 2022 Q2 - Quarterly Report
2022-08-04 11:03
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, 2022 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) (State or other jurisdiction of incorporation or ...