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  Economics : Type Curve

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Eagle Ford Shale Update 2Q 2025 39 MBOEPD, 72% Oil, 86% Liquids Murphy Operated Karnes Well Performance 24 operated wells online 18 Karnes, 3 Catarina and 3 Tilden 225 Greater than 30% increase wells; 10 gross non-operated wells online 200 2025 avg. 2-month Karnes 5-well infill pad (4 lower / 1 upper) outperforming 175 cum. oil vs. prior 4 years Cumulative Oil (MBbl) 150 expectations; improving capital efficiency with optimized completion design 125 100 Continuing to capture efficiency gains through 20% faster drilling 75 performance 2025 YTD vs. 2024 50 3Q 2025 Plan 25 0 10 operated wells online in Catarina - 30 60 90 120 150 180 210 240 270 300 330 360 Days Online 7 gross non-operated wells online 2021 2022 2023 2025 Bolt-On Acquisition in Core Karnes FY 2025E Wells Online cquisition of mplify Energys working interest in Karnes 30 acreage primarily operated by Murphy bolsters operatorship at a 25 compelling valuation 20 15 Strong industrial logic expands position through addition of oil- 10 weighted production and undrilled locations 5 Estimated 3Q 2025 production of 1 MBOEPD; 80% Oil 0 1Q 2025A 2Q 2025A 3Q 2025E 4Q 2025E Operated Non-Operated Note: Non-operated well cadence subject to change per operator plans Eagle Ford Shale non-operated wells adjusted for 21% average working interest www.murphyoilcorp.com NYSE: MUR 10
Murphy Oil Corp
August 2025

South Texas Austin Chalk 33 Wells YTD Reach Peak IP30 Demonstrate Continued High Returns Across Acreage Wells Reached IP30 in 2023 22 23 SM Energy Austin Chalk Wells to Date(1) 60 Oil 50 Liquids-rich Gas Number of wells: 30 (Mboe per 1,000' / 3-stream) 40 Cumulative Production 30 Liquids-rich Gas Oil 20 Number of wells: 36 33 Wells 10 1,977 Avg. Boe/d 0 4271 0 100 200 300 400 500 600 700 Producing Days Oil Liquids % Note SM Energy has completed 101 Austin Chalk wells that have reached IP30 as of February 13, 2024. (1) All SM Energy operated wells that came online in 2022 and 2023 that have reached peak IP30 rates as of February 13, 2024. 20
SM Energy Company
February 2024

Oil Development Map SilverBow Wells & Offset First 12 Month Cum 120 MBo of Oil First 12 Mo Oil Cum Zavala Frio Atascosa Karnes 120+ (MBo) Central Oil Guy Phillip SilverBow Other Operators Koerth SilverBow Dimmit La Salle McMullen Live Oak Bee Recent Wells Evans James Keith Guy Phillip Western Condensate Koerth Bethune James Keith ARN ARN Bethune SilverBow PDP Evans Commentary Average Daily Production(1) (MBoe/d) Western Evans James Keith Guy Phillip Central Oil Condensate Koerth ARN Bethune Drilling Locations 260 115 Average Lateral Length (ft) 6,600 8,000 Type Curve EUR 315 MBoe 490 MBoe % Liquids 81% 64% Average Gross Well Cost (MM) 6.3 7.8 50% of 2023 capital allocated to accelerating oil Average Type Curve development in Central Oil and Western Condensate Producing Days (1) Normalized to 7,500 ft; 3-day moving average Corporate Presentation 16 10/31/2023
Silverbow Resources
November 2023

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