Murphy Oil(US:MUR)2025-11-05 21:58Financial Performance - Murphy Oil Corporation reported a net loss from continuing operations of $3 million for Q3 2025, translating to a diluted loss per share of $0.02[2] - Adjusted net income from continuing operations was $58.1 million, with an adjusted EBITDA of $390.6 million for the same period[2] - Total revenue for Q3 2025 was $732.985 million, a decrease of 3.5% compared to $758.331 million in Q3 2024[25] - Net income attributable to Murphy for Q3 2025 was a loss of $2.973 million, compared to a profit of $139.094 million in Q3 2024[25] - Operating income from continuing operations for the nine months ended September 30, 2025, was $241.898 million, down from $517.405 million in the same period of 2024[25] - Net income attributable to Murphy for the nine months ended September 30, 2025, was $92.3 million, down from $356.8 million in the same period of 2024, reflecting a decline of 74.2%[36] - Impairment of assets for Q3 2025 was $92.0 million, impacting net income significantly[28] Production and Operations - Total production increased sequentially to 200,383 BOEPD, with oil production at 94,067 BOPD, exceeding guidance due to strong new well productivity[7] - The onshore business produced approximately 132 MBOEPD in Q3 2025, with 35% of production being liquids[8] - Total net crude oil and condensate production for the three months ended September 30, 2025, was 100,065 barrels per day, an increase of 6.4% from 94,078 barrels per day in the same period of 2024[40] - The company’s total net hydrocarbons production, excluding noncontrolling interest, was 200,383 barrels per day for the three months ended September 30, 2025, an increase of 8.5% from 184,567 barrels per day in the same period of 2024[40] - Total net crude oil and condensate production increased to 101,614 barrels per day in Q3 2025, up from 95,104 barrels per day in Q3 2024, representing an increase of 16.4%[41] - Net natural gas production reached 563,319 thousand cubic feet per day in Q3 2025, compared to 522,286 thousand cubic feet per day in Q3 2024, reflecting an increase of 7.9%[41] Financial Position and Debt - Murphy's total debt stood at $1.4 billion, with a liquidity position of approximately $1.6 billion as of September 30, 2025[5][6] - The company paid down $50 million of debt during the quarter and returned $46 million to shareholders through dividends[4] - Long-term debt, including finance lease obligations, increased to $1,425.2 million as of September 30, 2025, from $1,274.5 million at the end of 2024[27] - Total assets increased to $9,732.8 million as of September 30, 2025, compared to $9,667.5 million at the end of 2024[27] - Total liabilities rose to $4,483.1 million as of September 30, 2025, up from $4,325.6 million at the end of 2024[27] Capital Expenditures and Cash Flow - Capital expenditures for 2025 are projected to be between $1,135 million and $1,285 million[14] - Property additions and dry hole costs for Q3 2025 were $148.964 million, down from $216.413 million in Q3 2024, a decrease of 31.2%[26] - Free cash flow for Q3 2025 was $218.8 million, compared to $181.9 million in Q3 2024[34] - Adjusted free cash flow for Q3 2025 was $124.4 million, an increase from $101.8 million in Q3 2024[34] - Capital expenditures for the three months ended September 30, 2025, totaled $189.2 million, a decrease of 10.5% from $211.9 million in the same period of 2024[39] Shareholder Returns - The company has $550 million remaining under its share repurchase authorization as of September 30, 2025[4] - Cash dividends per common share increased to $0.325 in Q3 2025 from $0.300 in Q3 2024, reflecting a growth of 8.3%[25] Future Guidance and Projects - The Lac Da Vang (Golden Camel) project in Vietnam is on schedule for first oil in Q4 2026, with platform jacket installation completed ahead of schedule[3][12] - For Q4 2025, total net production guidance is set between 176,000 to 184,000 BOEPD, with full-year production guidance of 174,500 to 182,500 BOEPD[14]