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Murphy Oil Corporation Announces Second Quarter Results
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the second quarter ended June 30, 2025. Unless otherwise noted, the financial and operating highlights and metrics discussed in this commentary exclude noncontrolling interest (NCI). 1 1 From continuing operations and excludes amounts attributable to a noncontrolling interest in MP Gulf of Mexico, LLC (MP GOM). 2 Adjusted net income from continuing operations attributable to Murphy, adjusted earnings before interest, taxes, depreciation and amortization attributable to Murphy (adjusted EBITDA), adjusted EBITDA less exploration expense attributable to Murphy (adjusted EBITDAX), and free cash flow are non-GAAP financial measures and are not prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations can be found in the attached schedules. 3 Barrels of oil per day (BOPD) and barrels of oil equivalent per day (BOEPD). 4 Lease operating expense per barrel of oil equivalent sold for total oil and gas continuing operations. Expand Highlights for the second quarter include: Delivered sequential increase in production to 190,000 BOEPD and 90,000 BOPD; production outperformed high-end of guidance on strong new well productivity Returned $46 million to shareholders through quarterly dividend Reaffirmed full year CAPEX guidance at the midpoint of the range; full year total company production now trending at the midpoint of the range Subsequent to the second quarter: 'I am very pleased with our solid operational results in the second quarter which were achieved through strong new onshore well performance, continued Gulf of America workover progress, and field development execution at Lac Da Vang (Golden Camel). It's an exciting time at Murphy as we look ahead to significant exploration and appraisal catalysts in the second half of the year,' said Eric M. Hambly, President and Chief Executive Officer. 'In addition, this quarter we have introduced a Quarterly Stockholder Update which provides deeper insights and leadership perspectives on our business.' RETURN OF CAPITAL In the second quarter of 2025, return of capital totaled $46 million through the quarterly dividend. Through the first half of 2025, Murphy has returned $193 million to shareholders, which includes $100 million of share repurchases and $93 million in dividends. The company had $550 million remaining under its share repurchase authorization and 142.7 million shares outstanding as of June 30, 2025. FINANCIAL POSITION Murphy had approximately $1.5 billion of liquidity on June 30, 2025, comprised of $1.15 billion undrawn under the $1.35 billion senior unsecured credit facility and $380 million of cash and cash equivalents, inclusive of NCI. As of June 30, 2025, Murphy's total debt of $1.48 billion was comprised of long-term, fixed-rate notes and $200 million drawn under the senior unsecured credit facility. The fixed-rate notes had a weighted average maturity of 8.9 years and a weighted average coupon of 6.1 percent. ONSHORE OPERATIONS SUMMARY In the second quarter of 2025, the onshore business produced approximately 118 MBOEPD, which included 31 percent liquids volumes. OFFSHORE OPERATIONS SUMMARY Excluding NCI, in the second quarter of 2025, the offshore business produced approximately 72 MBOEPD, which included 82 percent oil. Gulf of America – Murphy completed the Samurai #3 workover and returned the well to production early in the second quarter. The Khaleesi #2 workover was completed and returned to production early in the third quarter. Vietnam – During the second quarter, Murphy continued to advance the Lac Da Vang (Golden Camel) field development and the project remains on schedule for first oil in the second half of 2026. The total project has now achieved 2.5 million work hours with zero Lost Time Injuries. 2025 CAPITAL EXPENDITURE AND PRODUCTION GUIDANCE The table below illustrates third quarter 2025 production guidance by area. The table below details the 2025 CAPEX plan by quarter. The table below details the 2025 onshore well delivery plan by quarter. 2025 Onshore Wells Online 1Q 2025A 2Q 2025A 3Q 2025E 4Q 2025E 2025E Total Eagle Ford Shale - 24 10 - 34 Kaybob Duvernay - - 4 - 4 Tupper Montney 5 5 - - 10 Non-Op Eagle Ford Shale 1 10 7 - 18 Note: All well counts are shown gross. Eagle Ford Shale non-operated working interest averages 21 percent. Expand CONFERENCE CALL AND WEBCAST SCHEDULED FOR AUGUST 7, 2025 Murphy will host a conference call to discuss second quarter 2025 financial and operating results on Thursday, August 7, 2025, at 9:00 a.m. ET. The call can be accessed either via the Internet through the events calendar on the Murphy Oil Corporation Investor Relations website at or via telephone by dialing toll free 1-800-717-1738, reservation number 30769. For additional information, please refer to the Second Quarter 2025 Earnings Presentation and Quarterly Stockholder Update available under the News and Events section of the Investor Relations website. FINANCIAL DATA Summary financial data and operating statistics for second quarter 2025, with comparisons to the same period from the previous year, are contained in the attached schedules. Additionally, a schedule indicating the impacts of items affecting comparability of results between periods and a reconciliation of the non-GAAP financial measures of adjusted net income from continuing operations attributable to Murphy, EBITDA, EBITDAX, adjusted EBITDA, adjusted EBITDAX, free cash flow and adjusted free cash flow to the most directly comparable GAAP financial measures for such periods are also included. ABOUT MURPHY OIL CORPORATION Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy's foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company's current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d'Ivoire. Additional information can be found on the company's website at FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as 'aim', 'anticipate', 'believe', 'drive', 'estimate', 'expect', 'expressed confidence', 'forecast', 'future', 'goal', 'guidance', 'intend', 'may', 'objective', 'outlook', 'plan', 'position', 'potential', 'project', 'seek', 'should', 'strategy', 'target', 'will' or variations of such words and other similar expressions. These statements, which express management's current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company's future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, make capital expenditures or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; geopolitical concerns; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets, banking system or economies in general, including inflation, trade policies, tariffs and other trade restrictions. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see 'Risk Factors' in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission ('SEC') and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC's website and from Murphy Oil Corporation's website at Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the company; therefore, we encourage investors, the media, business partners and others interested in the company to review the information we post on our website. The information on our website is not part of, and is not incorporated into, this news release. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements. NON-GAAP FINANCIAL MEASURES This news release contains certain non-GAAP financial measures that management believes are useful tools for internal use and the investment community in evaluating Murphy Oil Corporation's overall financial performance. These non-GAAP financial measures are broadly used to value and compare companies in the crude oil and natural gas industry. Not all companies define these measures in the same way. In addition, these non-GAAP financial measures are not a substitute for financial measures prepared in accordance with US generally accepted accounting principles (GAAP) and should therefore be considered only as supplemental to such GAAP financial measures. Please see the attached schedules for reconciliations of the differences between the non-GAAP financial measures used in this news release and the most directly comparable GAAP financial measures. 1 In accordance with GAAP, Murphy reports the 100 percent interest, including a 20 percent noncontrolling interest (NCI), in its subsidiary, MP Gulf of Mexico, LLC (MP GOM). The GAAP financials include the NCI portion of revenue, costs, assets and liabilities and cash flows. Unless otherwise noted, the financial and operating highlights and metrics discussed in this news release, but not the accompanying schedules, exclude the NCI, thereby representing only the amounts attributable to Murphy. Three Months Ended June 30, Six Months Ended June 30, (Thousands of dollars) 2025 2024 2025 2024 Operating Activities Net income including noncontrolling interest $ 35,124 $ 156,262 $ 124,542 $ 270,920 Adjustments to reconcile net income to net cash provided by continuing operations activities Depreciation, depletion and amortization 259,324 215,543 453,484 426,677 Accretion of asset retirement obligations 14,432 13,053 28,477 25,827 Long-term non-cash compensation 12,111 11,972 22,016 21,823 Deferred income tax expense 4,873 34,450 21,216 53,928 Amortization of undeveloped leases 2,255 2,985 3,909 5,778 Mark-to-market (gain) loss on derivative instruments (10,287 ) — (1,371 ) — Unsuccessful exploration well costs and previously suspended exploration costs (966 ) 25,843 (776 ) 58,280 (Income) loss from discontinued operations (1,302 ) 643 (669 ) 1,515 Impairment of assets — — — 34,528 Other operating activities, net 11,797 (18,578 ) (2 ) (33,959 ) Net decrease in non-cash working capital 30,689 25,479 7,905 1,126 Net cash provided by continuing operations activities 358,050 467,652 658,731 866,443 Investing Activities Property additions and dry hole costs (309,641 ) (267,791 ) (678,043 ) (516,876 ) Acquisition of oil and natural gas properties — — (1,383 ) — Net cash required by investing activities (309,641 ) (267,791 ) (679,426 ) (516,876 ) Financing Activities Borrowings on revolving credit facility 100,000 100,000 350,000 200,000 Repayment of revolving credit facility (100,000 ) (100,000 ) (150,000 ) (200,000 ) Retirement of debt — (50,000 ) — (50,000 ) Repurchase of common stock (2,548 ) (55,887 ) (102,620 ) (105,887 ) Cash dividends paid (46,386 ) (45,772 ) (93,412 ) (91,545 ) Withholding tax on stock-based incentive awards 19 (28 ) (7,654 ) (25,298 ) Distributions to noncontrolling interest (11,210 ) (38,209 ) (18,165 ) (61,210 ) Finance lease obligation payments (370 ) (167 ) (486 ) (331 ) Issue costs of debt facility (18 ) — (18 ) — Net required by financing activities (60,513 ) (190,063 ) (22,355 ) (334,271 ) Effect of exchange rate changes on cash and cash equivalents (1,179 ) 391 (888 ) 1,249 Net (decrease) increase in cash and cash equivalents (13,283 ) 10,189 (43,938 ) 16,545 Cash and cash equivalents at beginning of period 392,914 323,430 423,569 317,074 Cash and cash equivalents at end of period $ 379,631 $ 333,619 $ 379,631 $ 333,619 Expand MURPHY OIL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Thousands of dollars) June 30, 2025 December 31, 2024 1 ASSETS Cash and cash equivalents $ 379,631 $ 423,569 Other current assets 382,494 361,710 Property, plant and equipment, net 8,347,423 8,054,653 Operating lease assets, net 673,223 777,536 Other long-term assets 56,744 50,011 Total assets $ 9,839,515 $ 9,667,479 LIABILITIES AND EQUITY Current maturities of long-term debt, finance lease $ 910 $ 871 Accounts payable 509,225 472,165 Operating lease liabilities 190,659 253,208 Other current liabilities 208,503 216,570 Long-term debt, including finance lease obligation 1,474,959 1,274,502 Asset retirement obligations 980,109 960,804 Non-current operating lease liabilities 494,561 537,381 Other long-term liabilities 623,409 610,135 Total liabilities $ 4,482,335 $ 4,325,636 Murphy Shareholders' Equity 5,198,526 5,194,250 Noncontrolling interest 158,654 147,593 Total liabilities and equity $ 9,839,515 $ 9,667,479 Expand 1 Reclassified to conform to current presentation. Expand MURPHY OIL CORPORATION SCHEDULE OF ADJUSTED NET INCOME (LOSS) (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Millions of dollars, except per share amounts) 2025 2024 2025 2024 Net income attributable to Murphy (GAAP) 1 $ 22.3 $ 127.7 $ 95.3 $ 217.7 Discontinued operations (income) loss (1.3 ) 0.6 (0.7 ) 1.5 Net income from continuing operations attributable to Murphy 21.0 128.3 94.6 219.2 Adjustments: Foreign exchange loss (gain) 34.3 (5.5 ) 34.3 (16.0 ) Mark-to-market (gain) on derivative instruments (10.3 ) — (1.4 ) — Impairment of assets — — — 34.5 Write-off of previously suspended exploration well — — — 26.1 Total adjustments, before taxes 24.0 (5.5 ) 32.9 44.6 Income tax (benefit) expense related to adjustments (6.5 ) 1.4 (8.3 ) (8.8 ) Total adjustments, after taxes 17.5 (4.1 ) 24.6 35.8 Adjusted net income from continuing operations attributable to Murphy (Non-GAAP) $ 38.5 $ 124.2 $ 119.2 $ 255.0 Adjusted net income from continuing operations per average diluted share (Non-GAAP) $ 0.27 $ 0.81 $ 0.83 $ 1.66 Expand 1 Excludes amounts attributable to a noncontrolling interest in MP GOM. Non-GAAP Financial Measures Presented above is a reconciliation of net income to adjusted net income from continuing operations attributable to Murphy. Adjusted net income excludes certain items that management believes affect the comparability of results between periods. Management believes this is important information to provide because it is used by management to evaluate the Company's operational performance and trends between periods and relative to its industry competitors. Management also believes this information may be useful to investors and analysts to gain a better understanding of the Company's financial results. Adjusted net income is a non-GAAP financial measure and should not be considered a substitute for net income as determined in accordance with GAAP. The pretax and income tax impacts for adjustments in the above table are shown below by area of operation and geographical location and corporate, as applicable, and exclude the share attributable to noncontrolling interests. Expand Three Months Ended June 30, 2025 Six Months Ended June 30, 2025 (Millions of dollars) Pretax Tax Net Pretax Tax Net Corporate $ 24.0 $ (6.5 ) $ 17.5 $ 32.9 $ (8.3 ) $ 24.6 Total adjustments $ 24.0 $ (6.5 ) $ 17.5 $ 32.9 $ (8.3 ) $ 24.6 Expand MURPHY OIL CORPORATION SCHEDULE OF EBITDA, ADJUSTED EBITDA, EBITDAX AND ADJUSTED EBITDAX (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Millions of dollars) 2025 2024 2025 2024 Net income attributable to Murphy (GAAP) 1 $ 22.3 $ 127.7 $ 95.3 $ 217.7 Income tax expense 1.1 32.7 33.8 62.7 Interest expense, net 25.1 21.0 48.6 41.0 Depreciation, depletion and amortization expense 1 250.8 207.3 438.2 410.1 EBITDA attributable to Murphy (Non-GAAP) 299.3 388.7 615.9 731.5 Exploration expenses 10.3 42.7 24.8 87.1 EBITDAX attributable to Murphy (Non-GAAP) $ 309.6 $ 431.4 $ 640.7 $ 818.6 EBITDA attributable to Murphy (Non-GAAP) $ 299.3 $ 388.7 $ 615.9 $ 731.5 Foreign exchange loss (gain) 34.3 (5.4 ) 34.3 (15.9 ) Accretion of asset retirement obligations 1 12.9 11.7 25.4 23.1 Mark-to-market (gain) on derivative instruments (10.3 ) — (1.4 ) — Impairment of asset — — — 34.5 Write-off of previously suspended exploration well — — — 26.1 Discontinued operations (income) loss (1.3 ) 0.6 (0.7 ) 1.5 Adjusted EBITDA attributable to Murphy (Non-GAAP) $ 334.9 $ 395.6 $ 673.5 $ 800.8 Other exploration expenses 2 10.3 42.7 24.8 61.0 Adjusted EBITDAX attributable to Murphy (Non-GAAP) $ 345.2 $ 438.3 $ 698.3 $ 861.8 Expand 1 Excludes amounts attributable to a noncontrolling interest in MP GOM. 2 Other exploration expenses consist of exploration expenses as reported in the consolidated statement of operations excluding amounts relating to the write-off of previously suspended exploration well included in Adjusted EBITDA calculation above. Non-GAAP Financial Measures Presented above is a reconciliation of net income to earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA, earnings before interest, taxes, depreciation and amortization, and exploration expenses (EBITDAX) and adjusted EBITDAX. Management believes EBITDA, adjusted EBITDA, EBITDAX and adjusted EBITDAX are important information to provide because they are used by management to evaluate the Company's operational performance and trends between periods and relative to its industry competitors. Adjusted EBITDAX exclude certain items that management believes affect the comparability of results between periods. Management also believes this information may be useful to investors and analysts to gain a better understanding of the Company's financial results. EBITDA, adjusted EBITDA, EBITDAX and adjusted EBITDAX are non-GAAP financial measures and should not be considered a substitute for net income or Cash provided by operating activities as determined in accordance with GAAP. Expand MURPHY OIL CORPORATION SCHEDULE OF FREE CASH FLOW AND ADJUSTED FREE CASH FLOW (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Millions of dollars) 2025 2024 2025 2024 Net cash provided by continuing operations activities (GAAP) $ 358.1 $ 467.7 $ 658.7 $ 866.4 Exclude: increase (decrease) in non-cash working capital (30.7 ) (25.5 ) (7.9 ) (1.1 ) Operating cash flow excluding working capital adjustments 327.4 442.2 650.8 865.3 Less: property additions and dry hole costs 1 (309.6 ) (267.8 ) (678.0 ) (516.9 ) Free cash flow (Non-GAAP) $ 17.8 $ 174.4 $ (27.2 ) $ 348.4 Less: cash dividends paid (46.4 ) (45.8 ) (93.4 ) (91.5 ) Less: distributions to noncontrolling interest (11.2 ) (38.2 ) (18.2 ) (61.2 ) Less: withholding tax on stock-based incentive awards — — (7.7 ) (25.3 ) Less: acquisition of oil and natural gas properties — — (1.4 ) — Adjusted free cash flow (Non-GAAP) $ (39.8 ) $ 90.4 $ (147.9 ) $ 170.4 Expand 1 Property additions for the 2025 period includes a payment of $125.0 million for the purchase of a floating production, storage, and offloading vessel in U.S. Offshore, including amounts attributable to a noncontrolling interest in MP GOM. Non-GAAP Financial Measures Presented above is a reconciliation of net cash provided by continuing operations activities to free cash flow (FCF) and adjusted FCF. Management believes FCF and adjusted FCF are important information to provide because they are additional measures of liquidity and are used by management to evaluate the Company's ability to internally generate cash, excluding the timing impacts of working capital, and to measure funds available for investing and financing activities. Management also believes this information may be useful to investors and analysts to monitor the Company's financial health and its performance over time. Adjusted FCF excludes certain items that management believes affect the comparability of results between periods. FCF and adjusted FCF are non-GAAP and should not be considered a substitute for net cash provided by operating, investing, or financing activities as determined in accordance with GAAP. Expand Six Months Ended June 30, 2025 Six Months Ended June 30, 2024 (Millions of dollars) Revenues Income (Loss) Revenues Income (Loss) Exploration and production United States ¹ $ 1,063.0 $ 194.4 $ 1,339.1 $ 320.2 Canada 294.0 52.0 255.9 28.3 Other 2.9 (18.5 ) 4.2 (20.9 ) Total exploration and production 1,359.9 227.9 1,599.2 327.6 Corporate 1.4 (104.1 ) — (55.2 ) Income from continuing operations 1,361.3 123.8 1,599.2 272.4 Discontinued operations, net of tax — 0.7 — (1.5 ) Net income including noncontrolling interest $ 1,361.3 $ 124.5 $ 1,599.2 $ 270.9 Less: Net income attributable to noncontrolling interest 29.2 53.2 Net income attributable to Murphy $ 95.3 $ 217.7 Expand 1 Includes results attributable to a noncontrolling interest in MP GOM. Expand MURPHY OIL CORPORATION PRODUCTION-RELATED EXPENSES (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Dollars per barrel of oil equivalents sold) 2025 2024 2025 2024 United States – Onshore Lease operating expense $ 8.20 $ 14.61 $ 10.08 $ 14.14 Severance and ad valorem taxes 2.66 3.73 2.96 3.66 Depreciation, depletion and amortization expense 29.88 29.64 29.68 29.04 United States – Offshore 1 Lease operating expense $ 20.91 $ 23.58 $ 21.13 $ 21.96 Severance and ad valorem taxes 0.14 0.07 0.11 0.06 Depreciation, depletion and amortization expense 16.93 13.44 16.21 13.45 Canada – Onshore Lease operating expense $ 4.98 $ 5.43 $ 5.21 $ 5.46 Severance and ad valorem taxes 0.05 0.06 0.05 0.06 Depreciation, depletion and amortization expense 4.20 4.76 4.29 4.86 Canada – Offshore Lease operating expense $ 17.86 $ 22.60 $ 17.29 $ 24.43 Depreciation, depletion and amortization expense 11.47 12.00 9.59 10.71 Total E&P continuing operations 1 Lease operating expense $ 11.95 $ 15.27 $ 12.83 $ 14.83 Severance and ad valorem taxes 0.60 0.61 0.59 0.62 Depreciation, depletion and amortization expense 2 14.28 12.52 13.70 12.64 Total oil and gas continuing operations – excluding noncontrolling interest Lease operating expense 3 $ 11.80 $ 15.09 $ 12.67 $ 14.69 Severance and ad valorem taxes 0.62 0.64 0.61 0.64 Depreciation, depletion and amortization expense 2 14.28 12.52 13.71 12.65 Expand 1 Includes amounts attributable to a noncontrolling interest in MP GOM. 2 Excludes expenses attributable to the Corporate segment. 3 Lease operating expense per barrel of oil equivalent sold for total oil and gas continuing operations, excluding NCI and workover costs, was $8.76 and $10.42 for the three months ended June 30, 2025 and 2024, respectively and $9.50 and $10.58 for the six months ended June 30, 2025 and 2024, respectively. Expand MURPHY OIL CORPORATION CAPITAL EXPENDITURES (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Millions of dollars) 2025 2024 2025 2024 Exploration and production United States 1 $ 178.4 $ 225.8 $ 500.5 $ 414.3 Canada 45.7 42.2 101.1 109.5 Other 26.7 21.2 69.8 32.5 Total 250.8 289.2 671.4 556.3 Corporate 2.8 4.2 7.0 8.4 Total capital expenditures - continuing operations 1 253.6 293.4 678.4 564.7 Less: capital expenditures attributable to noncontrolling interest 2.8 1.6 24.7 8.9 Total capital expenditures - continuing operations attributable to Murphy 2 250.8 291.8 653.7 555.8 Charged to exploration expenses 3 United States 1 2.2 30.6 7.3 63.8 Canada — 0.1 0.1 0.2 Other 5.9 9.1 13.6 17.4 Total charged to exploration expenses - continuing operations 1,3 8.1 39.8 21.0 81.4 Less: charged to exploration expenses attributable to noncontrolling interest 0.1 — 0.1 — Total charged to exploration expenses - continuing operations attributable to Murphy 4 8.0 39.8 20.9 81.4 Total capitalized - continuing operations attributable to Murphy $ 242.8 $ 252.0 $ 632.8 $ 474.4 Expand 1 Includes amounts attributable to a noncontrolling interest in MP GOM. 2 For the three months ended June 30, 2025 and 2024, there were no acquisition-related costs incurred. For the six months ended June 30, 2025, total capital expenditures attributable to Murphy, excluding acquisition-related costs of $105.6 million, primarily related to the purchase of a floating production, storage, and offloading vessel in U.S. Offshore (2024: nil), is $548.1 million (2024: $555.8 million). 3 For the three-month and six-month ended June 30, 2025, total charged to exploration expense attributable to Murphy, excludes amortization of undeveloped leases of $2.3 million (2024: $3.0 million) and $3.9 million (2024 $5.8 million), respectively. 4 For the three months ended June 30, 2025 and 2024, no amounts were expensed for previously suspended exploration costs. For the six months ended June 30, 2025, total charged to exploration expense attributable to Murphy, excluding previously suspended exploration costs of nil (2024: $26.1 million), is $20.9 million (2024: $55.3 million). Expand MURPHY OIL CORPORATION PRODUCTION SUMMARY (unaudited) (Barrels per day unless otherwise noted) 2025 2024 2025 2024 Net crude oil and condensate United States - Onshore 28,519 19,873 22,779 20,127 United States - Offshore 1 58,840 66,818 57,222 66,448 Canada - Onshore 2,307 2,978 2,445 2,617 Canada - Offshore 5,638 7,506 7,237 6,885 Other 296 245 275 245 Total net crude oil and condensate 95,600 97,420 89,958 96,322 Net natural gas liquids United States - Onshore 5,557 4,125 4,818 4,145 United States - Offshore 1 4,720 4,505 4,265 4,596 Canada - Onshore 494 494 516 474 Total net natural gas liquids 10,771 9,124 9,599 9,215 Net natural gas – thousands of cubic feet per day United States - Onshore 32,389 23,197 29,306 23,714 United States - Offshore 1 52,964 57,762 52,062 55,462 Canada - Onshore 454,310 406,856 400,898 381,155 Total net natural gas 539,663 487,815 482,266 460,331 Total net hydrocarbons - including NCI 2,3 196,315 187,847 179,935 182,259 Noncontrolling interest Net crude oil and condensate – barrels per day (6,070 ) (6,717 ) (5,925 ) (6,608 ) Net natural gas liquids – barrels per day (244 ) (217 ) (207 ) (214 ) Net natural gas – thousands of cubic feet per day (1,942 ) (2,003 ) (1,590 ) (2,039 ) Total noncontrolling interest 2,3 (6,638 ) (7,268 ) (6,397 ) (7,162 ) Total net hydrocarbons - excluding NCI 2,3 189,677 180,579 173,538 175,097 Expand 1 Includes net volumes attributable to a noncontrolling interest in MP GOM. 2 Natural gas converted on an energy equivalent basis of 6:1. 3 NCI – noncontrolling interest in MP GOM. Expand MURPHY OIL CORPORATION SALES SUMMARY (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Barrels per day unless otherwise noted) 2025 2024 2025 2024 Net crude oil and condensate United States - Onshore 28,520 19,873 22,779 20,127 United States - Offshore 1 58,469 67,507 56,313 67,781 Canada - Onshore 2,307 2,978 2,444 2,617 Canada - Offshore 7,762 5,645 9,436 6,322 Other 457 469 230 240 Total net crude oil and condensate 97,515 96,472 91,202 97,087 Net natural gas liquids United States - Onshore 5,557 4,125 4,819 4,145 United States - Offshore 1 4,720 4,505 4,264 4,596 Canada - Onshore 494 494 516 474 Total net natural gas liquids 10,771 9,124 9,599 9,215 Net natural gas – thousands of cubic feet per day United States - Onshore 32,388 23,197 29,306 23,714 United States - Offshore 1 52,964 57,762 52,062 55,462 Canada - Onshore 454,310 406,855 400,898 381,155 Total net natural gas 539,662 487,814 482,266 460,331 Total net hydrocarbons - including NCI 2,3 198,230 186,898 181,179 183,024 Noncontrolling interest Net crude oil and condensate – barrels per day (6,014 ) (6,792 ) (5,792 ) (6,798 ) Net natural gas liquids – barrels per day (243 ) (217 ) (207 ) (214 ) Net natural gas – thousands of cubic feet per day (1,942 ) (2,003 ) (1,590 ) (2,039 ) Total noncontrolling interest 2,3 (6,581 ) (7,343 ) (6,264 ) (7,352 ) Total net hydrocarbons - excluding NCI 2,3 191,649 179,555 174,915 175,672 Expand 1 Includes net volumes attributable to a noncontrolling interest in MP GOM. 2 Natural gas converted on an energy equivalent basis of 6:1. 3 NCI – noncontrolling interest in MP GOM. Expand MURPHY OIL CORPORATION WEIGHTED AVERAGE PRICE SUMMARY (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Crude oil and condensate – dollars per barrel United States - Onshore $ 64.00 $ 80.71 $ 66.84 $ 78.76 United States - Offshore 1 64.48 81.67 68.23 79.61 Canada - Onshore 2 59.94 72.25 61.73 70.24 Canada - Offshore 2 64.76 84.34 70.39 85.25 Other 2 70.86 100.92 70.86 96.43 Natural gas liquids – dollars per barrel United States - Onshore 19.56 19.48 21.07 20.08 United States - Offshore 1 19.35 22.77 22.75 23.56 Canada - Onshore 2 33.84 35.46 35.00 35.16 Natural gas – dollars per thousand cubic feet United States - Onshore 2.75 1.59 3.03 1.77 United States - Offshore 1 3.47 2.00 3.89 2.32 Canada - Onshore 2 1.65 1.37 1.96 1.68 Expand 1 Prices include the effect of noncontrolling interest in MP GOM. 2 U.S. dollar equivalent. Expand MURPHY OIL CORPORATION FIXED PRICE FORWARD SALES AND COMMODITY HEDGE POSITIONS AS OF AUGUST 4, 2025 (unaudited) Volumes (MMCF/d) Price/MCF Remaining Period Canada Natural Gas Fixed price forward sales 40 C$2.75 7/1/2025 12/31/2025 Canada Natural Gas Fixed price forward sales 50 C$3.03 1/1/2026 12/31/2026 Expand 1 Fixed price forward sale contracts listed above are accounted for as normal sales and purchases for accounting purposes. Expand
Business Wire
6 days ago
- Business
- Business Wire
Quarterly Stockholder Update by Murphy Oil Corporation
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR): Murphy Oil Corporation Stockholders, This year Murphy Oil Corporation celebrates its 75 th anniversary of incorporation. Over the last 75 years, Murphy has built a legacy based on a pioneering spirit and thoughtful decision making. Murphy is different from other independent exploration and production companies of its size. We have both onshore and offshore production, operate in the United States and internationally, and have a proven track record of successfully conducting offshore frontier exploration. While our company's diversified business model is a key differentiator, it can be more complex to value compared to a pure-play US shale company. This letter aims to provide a deeper understanding of Murphy through additional context and leadership perspectives on key aspects of our business. This letter also serves as a supplement to our earnings release for the second quarter of 2025, and both documents are being furnished simultaneously to the Securities and Exchange Commission and our stockholders. Please see the information regarding forward-looking statements and non-GAAP financial information included at the end of this letter. Unless otherwise noted, the financial and operating highlights and metrics discussed in this letter exclude noncontrolling interest (NCI). 1 SECOND QUARTER 2025 SUMMARY Murphy delivered solid operational and production performance in the second quarter while experiencing significantly lower commodities prices than we have seen in recent quarters. Second quarter oil, natural gas liquids, and natural gas production of 189.7 thousand barrels of oil equivalents per day (MBOEPD) exceeded the high end of our quarterly guidance range of 177.0 to 185.0 MBOEPD highlighted by oil production of 89.5 thousand barrels of oil per day (MBOPD) also exceeding guidance. Operating expenses in the second quarter were $11.80 per BOE, which is $1.94 per BOE lower than in the first quarter. Realized oil prices were $64.31 per barrel in the second quarter, which is $7.89 per barrel or 11 percent less than in the first quarter. In addition, realized natural gas prices were $1.88 per thousand cubic feet (MCF) in the second quarter, which is $0.79 per MCF or 29.5 percent lower than in the first quarter. This latter reduction is particularly significant as natural gas comprises 53 percent of our production mix. As a result, we recorded net income of $22.3 million, or $0.16 net income per diluted share, for the second quarter compared to $73.0 million, or $0.50 net income per diluted share in the first quarter, despite the large increase in production. Also in the second quarter, earnings before interest, taxes, depreciation and amortization (EBITDA) attributable to Murphy (non-GAAP) was $299.3 million, cash flow from operations was $358.1 million, and we generated free cash flow (non-GAAP) of $17.8 million. These financial results reflect the extraordinary impact of commodity prices on our business and reinforce the importance of concentrating on the parts of our business we can control: production rates and costs, a solid balance sheet and a first rate exploration program followed by best-in-class oil field development skills. OPERATIONAL UPDATE During the second quarter of 2025 we made significant progress in many important areas of our business: the onshore new well delivery program, Gulf of America workovers, Lac Da Vang (Golden Camel) field development, and preparations for exploration and appraisal wells which are planned for the second half of the year. At our Eagle Ford Shale (EFS) asset, we brought online 24 operated wells and 10 gross non-operated wells. All new EFS operated pads exceeded initial production expectations with our 16 new Karnes County wells delivering some of the highest initial production rates in Murphy EFS history (an average of 2,123 BOEPD per well). While the industry is experiencing declining EFS well performance, in contrast, we continue to enhance capital efficiency by modifying completion designs and operating practices to deliver improved well performance year over year. This also reflects the fact that we have a more deliberate EFS development schedule than most peers resulting in a more robust remaining tier-one well location inventory. At our Tupper Montney asset, we brought online five new wells, rounding out our 10-well program for the year. We tested a new completion design for those 10 wells, with approximately 50 percent higher proppant loading, and we have seen excellent early performance from the wells. All 10 new Tupper wells have 30-day initial production rates (an average of 19.2 million cubic feet per day) that are in the Murphy top 20 all-time Tupper high performer list. I must admit that I am very proud of our onshore team who continues to deliver impressive operational and technical improvements despite a new well program that has limited 'shots on goal' compared to shale-only industry peers. Early in the second quarter in our offshore program, we completed the Samurai #3 workover and returned the well to production. Early in the third quarter, the Khaleesi #2 workover was completed, and the well was returned to production in July. Together these two workovers add 3.7 MBOEPD to our production totals in the third quarter. In addition, we are progressing the Marmalard #3 workover and expect to resume production from the well in August. These three wells, because of their high production rates, are important cash flow generators and high rate-of-return investments. They also highlight the importance of the Gulf of America to the company's production assets. In Vietnam, our Lac Da Vang (Golden Camel) field development execution continues to be impressive as construction of the LDV-A platform's jacket was completed in the third quarter and is being prepared for installation early in the fourth quarter. Furthermore, fabrication of the LDV-A platform's topsides, the Floating Storage and Offloading (FSO) vessel's hull and turret, pipelines, flexible risers, and subsea structures are all progressing on schedule for first oil in the fourth quarter of 2026. PRODUCTION As noted, second quarter production of 189.7 MBOEPD was 32.5 MBOEPD or 20.6 percent higher than first quarter production. This outperformance, as referenced above, was primarily driven by earlier online dates and higher than expected initial production rates from new onshore wells at Tupper Montney and Eagle Ford Shale. We now expect full year 2025 production to be closer to the midpoint of our guidance range of 174.5 to 182.5 MBOEPD. Second quarter production at Tupper Montney was particularly significant as it averaged 447 million cubic feet per day (MMCFD) or 74.7 MBOEPD. With our new wells online, we produced at Tupper West plant capacity throughout May and June. At EFS we achieved second quarter production of 39.5 MBOEPD, significantly higher than our quarterly guidance of 34.2 MBOEPD. During the quarter, EFS achieved a peak rate over 54 MBOEPD, the highest rate delivered since December 2019. Second quarter production from the Gulf of America averaged 65.7 MBOEPD, which was 1.1 MBOEPD higher than our quarterly guidance of 64.6 MBOEPD and nearly 4 MBOEPD higher than first quarter production. Our non-operated offshore Canada business delivered average production of 5.6 MBOEPD, which was lower than our quarterly guidance by 2.1 MBOEPD, due to higher than anticipated downtime. CAPITAL EXPENDITURES Capital expenditures (CAPEX) for the second quarter were $251 million and lower than our quarterly guidance of $300 million, primarily due to timing. In addition, second quarter CAPEX was $152 million lower than first quarter CAPEX primarily because of the unique $104 million Pioneer FPSO purchase in the first quarter. Murphy's onshore drilling and completions team continues to set new internal performance records. In the Catarina area of our Eagle Ford Shale asset, we increased the drilling Rate of Penetration (ROP) by 26 percent and reduced the spud-to-total depth timing by 20 percent compared to 2024. In the Tilden area, we improved capital efficiency by drilling two long lateral U-turn wells instead of four shorter lateral wells, which reduced capital expenditure by 33 percent with no reduction in oil recovery per lateral foot. In Canada, we drilled the longest horizontal wells in Murphy history in Kaybob Duvernay. Our completions team continues to refine completion designs by optimizing fluid and proppant intensities and leveraging automated physics-based models to enhance flowback strategies, which have led to improved initial well performance. In the third quarter, we expect CAPEX to be $260 million excluding acquisition costs. We continue to be comfortable with our full year 2025 CAPEX guidance of $1,135 to $1,285 million, which includes the Pioneer FPSO purchase but excludes a small Eagle Ford Shale acquisition discussed below. OPERATING COSTS As noted above, operating expenses in the second quarter averaged $11.80 per BOE, which is $1.94 per BOE, or 14.1 percent lower than in the first quarter, primarily due to higher production rates, lower Eagle Ford Shale operating costs, and lower offshore workover costs. In our offshore assets, most of the workover activity is behind us, so operating expenses in the second half of the year are expected to be more in line with historical trends. Accordingly, we anticipate operating expenses in the $10 to $12 per BOE range during the second half of 2025. In our Eagle Ford Shale asset, we have made great progress reducing operating costs which are down $12 million or 18 percent in the first half of 2025 compared to the first half of 2024. On a unit basis operating costs per BOE in the first half of 2025 were down 30 percent compared to the first half of 2024. The primary drivers of reduced operating costs are workforce optimization, lower repairs and maintenance expenses, lower rental equipment costs, and reduced water disposal costs. EXPLORATION AND APPRAISAL DRILLING Murphy's international frontier wildcat and Gulf of America nearfield exploration program remains a key differentiator from our peers. Our planned 2025 and 2026 exploration and appraisal activity will expose the company to transformational conventional volumes and will test for more than one billion BOEs in gross un-risked resource potential. We are on schedule to drill key exploration and appraisal wells in the second half of the year. In the Gulf of America, the Cello #1 and Banjo #1 exploration wells will be drilled in the third and fourth quarters. Both wells are located in Mississippi Canyon 385, near our operated Delta House floating production system and will flow back through this system if we are successful. In Vietnam, we will begin drilling a key appraisal well at our recent Hai Su Vang (Golden Sea Lion) oil discovery in the third quarter, with results expected in the fourth quarter. The discovery well was drilled near the crest of the structure, encountered 370 feet of net oil pay, and was flow tested at 10,000 BOPD. With our current understanding of the range of recoverable resources, we are confident that the discovery is significant and provides a highly profitable investment opportunity. However, since the discovery well did not encounter water, there is untested upside remaining. The appraisal well will be drilled off the crest of the structure to assess reservoir continuity and determine how much of the structure, below the current total depth, is filled with hydrocarbons. These findings will tighten the range of recoverable resources and potentially move the range higher. More than one appraisal well may be required to fully characterize the field. Our three-well Côte d'Ivoire exploration program remains on schedule to commence in the fourth quarter. This exploration program allows Murphy to evaluate three separate prospects representing various play types and large mean un-risked resources, with relatively low well costs and strong fiscal terms. COMMODITY PRICING In addition to the oil and natural gas price comments made above, I will point out a few other highlights. Our gassy onshore Canada business saw realized natural gas prices average $1.65 per MCF, which was $0.44 per MCF higher than the AECO benchmark due to our diversification and fixed forward selling strategies. In addition, and very importantly, Shell Canada Energy announced in late June that the first cargo of liquefied natural gas (LNG) had left the LNG Canada facility in Kitimat, British Columbia. Thus, after many decades of discussion, planning and finally construction, an LNG exporting facility is finally operating on the West Coast of Canada. This provides two billion cubic feet per day of additional demand for Canadian gas and is expected to result in higher AECO prices as LNG Canada production ramps up. FINANCIAL PERFORMANCE AND RETURN OF CAPITAL As previously communicated, our Capital Allocation Plan allocates a minimum of 50 percent of adjusted Free Cash Flow to share buybacks and potential dividend increases, with the remainder allocated to the balance sheet. In the first half of 2025 we distributed $93.4 million of dividends to shareholders. We also repurchased $100 million of stock or 3.6 million shares in the first quarter, reducing our shares outstanding to 142.7 million with $550 million remaining in our board authorized share repurchase program. BALANCE SHEET Total debt and net debt at the end of the second quarter were $1.476 billion and $1.096 billion, respectively. We had $200 million drawn on our unsecured revolving credit facility at the end of the quarter. We are favorably positioned with a strong balance sheet, and we remain committed to our $1.0 billion long-term debt target, which represents a 1.0x debt to EBITDA ratio at approximately $45 per barrel WTI. With that said, given current market conditions and our high potential exploration and appraisal program ahead of us, we currently expect to use available adjusted Free Cash Flow for share repurchases rather than bond repayments. OTHER BUSINESS In July 2025, we completed a small Eagle Ford Shale acquisition for a contract price of $23 million, subject to certain post-closing adjustments. The sale closed July 1, 2025, and has an effective date of June 15, 2025. For several years we have been telling investors that we screen many Eagle Ford Shale acquisition opportunities but typically do not find assets that are as good as or better than our existing business. With this highly accretive acquisition, we were able to increase our working interest in the Karnes County business that we already own and operate. CLOSING I am pleased with our solid operational results in the second quarter and our continued onshore well performance improvements. It's an exciting time at Murphy with our significant exploration and appraisal catalysts in the coming months. I'm confident that our talented and dedicated employees are capable of delivering shareholder value through our differentiated business model. Thank you for being a Murphy Oil Corporation Stockholder. Eric M. Hambly President and Chief Executive Officer CONFERENCE CALL AND WEBCAST SCHEDULED FOR AUGUST 7, 2025 Murphy will host a conference call to discuss second quarter 2025 financial and operating results on Thursday, August 7, 2025, at 9:00 a.m. ET. The call can be accessed either via the Internet through the events calendar on the Murphy Oil Corporation Investor Relations website at or via telephone by dialing toll free 1-800-717-1738, reservation number 30769. For additional information, please refer to the Second Quarter 2025 Earnings Presentation available under the News and Events section of the Investor Relations website. FORWARD-LOOKING STATEMENTS This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as 'aim', 'anticipate', 'believe', 'drive', 'estimate', 'expect', 'expressed confidence', 'forecast', 'future', 'goal', 'guidance', 'intend', 'may', 'objective', 'outlook', 'plan', 'position', 'potential', 'project', 'seek', 'should', 'strategy', 'target', 'will' or variations of such words and other similar expressions. These statements, which express management's current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company's future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, make capital expenditures or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; geopolitical concerns; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets, banking system or economies in general, including inflation, trade policies, tariffs and other trade restrictions. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see 'Risk Factors' in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission ('SEC') and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC's website and from Murphy Oil Corporation's website at Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the company; therefore, we encourage investors, the media, business partners and others interested in the company to review the information we post on our website. The information on our website is not part of, and is not incorporated into, this letter. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements. NON-GAAP FINANCIAL MEASURES This letter contains certain non-GAAP financial measures that management believes are useful tools for internal use and the investment community in evaluating Murphy Oil Corporation's overall financial performance. These non-GAAP financial measures are broadly used to value and compare companies in the crude oil and natural gas industry. Not all companies define these measures in the same way. In addition, these non-GAAP financial measures are not a substitute for financial measures prepared in accordance with US generally accepted accounting principles (GAAP) and should therefore be considered only as supplemental to such GAAP financial measures. Please see Exhibit 99.1 on Form 8-K filed on August 6, 2025, for reconciliations of the differences between the non-GAAP financial measures used in this letter and the most directly comparable GAAP financial measures. 1 In accordance with GAAP, Murphy reports the 100 percent interest, including a 20 percent noncontrolling interest (NCI), in its subsidiary, MP Gulf of Mexico, LLC (MP GOM). The GAAP financials include the NCI portion of revenue, costs, assets and liabilities and cash flows. Unless otherwise noted, the financial and operating highlights and metrics discussed in this letter exclude the NCI, thereby representing only the amounts attributable to Murphy.
Yahoo
14-07-2025
- Business
- Yahoo
Murphy Oil (MUR) Gained Almost 11% This Week. Here is Why.
The share price of Murphy Oil Corporation (NYSE:MUR) surged by 10.91% between July 7 and July 11, 2025, putting it among the Energy Stocks that Gained the Most This Week. A large oil tanker being filled up in a refinery, a symbol of the company's vast energy production. Murphy Oil Corporation (NYSE:MUR) drills for and produces oil and natural gas from several operated and non-operated fields across more than 100 blocks in the deepwater Gulf of America. Murphy Oil Corporation (NYSE:MUR) shot up this week after the analysts at Scotiabank raised the stock's price target from $22 to $26, while maintaining a 'Sector Perform' rating on its shares. The revision comes as Scotiabank updates its price targets of the U.S. Integrated Oil, Refining, and Large Cap E&P stocks under its coverage. It is worth mentioning that Murphy Oil Corporation (NYSE:MUR) reported a mixed performance in Q1 2025, beating estimates in earnings but falling just short in revenue. The company also repurchased $100 million worth of its stock during the quarter. While we acknowledge the potential of MUR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and The 5 Energy Stocks Billionaires are Quietly Piling Into. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-06-2025
- Business
- Yahoo
Murphy Oil Corporation Schedules Second Quarter 2025 Conference Call and Webcast for Thursday, August 7, 2025
HOUSTON, June 30, 2025--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Time (ET) on Thursday, August 7, 2025, to discuss second quarter 2025 earnings. The company plans to release its financial and operating results after the market closes on Wednesday, August 6, 2025. A webcast link and related presentation material will be posted to the Investor Relations page of the company's website at Date: Thursday, August 7, 2025Time: 9:00 a.m. ETToll Free Dial-in: 800-717-1738Conference ID: 30769 ABOUT MURPHY OIL CORPORATION Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy's foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company's current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d'Ivoire. Additional information can be found on the company's website at FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as "aim", "anticipate", "believe", "drive", "estimate", "expect", "expressed confidence", "forecast", "future", "goal", "guidance", "intend", "may", "objective", "outlook", "plan", "position", "potential", "project", "seek", "should", "strategy", "target", "will" or variations of such words and other similar expressions. These statements, which express management's current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company's future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, make capital expenditures or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; geopolitical concerns; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets, banking system or economies in general, including inflation, trade policies, tariffs and other trade restrictions. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see "Risk Factors" in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission ("SEC") and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC's website and from Murphy Oil Corporation's website at Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the company; therefore, we encourage investors, the media, business partners and others interested in the company to review the information we post on our website. The information on our website is not part of, and is not incorporated into, this news release. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements. View source version on Contacts Investor Contacts: InvestorRelations@ Kyle Sahni, 281-675-9369Beth Heller, 281-675-9363 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
30-06-2025
- Business
- Business Wire
Murphy Oil Corporation Schedules Second Quarter 2025 Conference Call and Webcast for Thursday, August 7, 2025
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Time (ET) on Thursday, August 7, 2025, to discuss second quarter 2025 earnings. The company plans to release its financial and operating results after the market closes on Wednesday, August 6, 2025. A webcast link and related presentation material will be posted to the Investor Relations page of the company's website at Date: Thursday, August 7, 2025 Time: 9:00 a.m. ET Toll Free Dial-in: 800-717-1738 Conference ID: 30769 ABOUT MURPHY OIL CORPORATION Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy's foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company's current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d'Ivoire. Additional information can be found on the company's website at FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as 'aim', 'anticipate', 'believe', 'drive', 'estimate', 'expect', 'expressed confidence', 'forecast', 'future', 'goal', 'guidance', 'intend', 'may', 'objective', 'outlook', 'plan', 'position', 'potential', 'project', 'seek', 'should', 'strategy', 'target', 'will' or variations of such words and other similar expressions. These statements, which express management's current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company's future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, make capital expenditures or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; geopolitical concerns; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets, banking system or economies in general, including inflation, trade policies, tariffs and other trade restrictions. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see 'Risk Factors' in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission ('SEC') and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC's website and from Murphy Oil Corporation's website at Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the company; therefore, we encourage investors, the media, business partners and others interested in the company to review the information we post on our website. The information on our website is not part of, and is not incorporated into, this news release. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
