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Q1 2015 EARNINGS CALL – Murphy Oil Corp

Murphy Oil Corp · Apr 30, 2015 · 18 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 1
    FIRST QUARTER 2015 EARNINGS CONFERENCE CALL & WEBCAST APRIL 30, 2015 MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 1
  2. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 2
    Financial Overview ( Millions) 1Q 2014 1Q 2015 Consolidated Adjusted Earnings 1Q 15 51% Lower Oil & 41% Lower NA Gas Prices Net Income (Loss) 155.3 (14.4) Partially Offset by Higher Volumes /Diluted Share 0.85 (0.08) Gain on…
  3. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 3
    1Q 2015 Operational Highlights Well-Positioned Financial MAINTAIN DIVIDEND Maintained Regular Dividend LOOKING FOR OPPORTUNITIES Focus on Business Development Opportunities CAPITAL DISCIPLINE Portfolio Completed 30% Sell-Down in…
  4. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 4
    Realized Prices Brent / WTI Spread Benefit 65 Benchmark 1Q 2014 4Q 2014 1Q 2015 60 (/BBL) 55 Brent 108.22 76.29 53.97 /bbl 50 WTI 98.68 73.15 48.63 45 40 Realized Prices (/BBL) 1/1/15 2/1/15 3/1/15 4/1/15 1Q 2014 4Q 2014 1Q…
  5. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 5
    Operating Metrics Lease Operating Expense*, /BOE 15 13 Working to Reduce LOE 11 11.81 11.04 18% Reduction 1Q14 1Q15 9 10.14 10.30 9.68 Cash Flow Metrics 7 5 Well-Positioned Entering Price Collapse 1Q 14 4Q 14 1Q 15 2014 2015E…
  6. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 6
    Murphy Cost Reduction Focus Phase 1 Results to Date 1Q 2015 Direct Negotiation with Current Suppliers 15% Expect to Realize Savings 2Q Forward EFS Cost to Drill & REDUCTION Current 25% Complete REDUCTION 7 Year End Eagle Ford…
  7. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 7
    Production Guidance 1Q 2015 Net Production, BOEPD 1Q Production Exceeds Guidance 225 3 2 NA Onshore 215 Montney Better Well Performance EFS New Wells On-Line 205 221 Offset by Syncrude Unplanned Coker Outage 222 195 Global…
  8. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 8
    Global Offshore - Malaysia Completed Sale of Additional 10% SARAWAK Marks Value of Long Term Business DRILLING RESULTS EXCEED Kakap-Gumusut Production Avg. 150 MBOEPD Gross in March PLAN Siakap North-Petai Completed Gas…
  9. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 9
    Global Offshore Gulf of Mexico Medusa Expansion 60% W.I. (Operator) Two Well Expansion Wells Drilled to Plan; Completions Ongoing Thunder Subsea Flowlines, Topsides & Installation of Medusa Hawk Jumpers Complete First Oil Early…
  10. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 10
    Montney New Well Performance 1,000 Well Inventory 2015 Capex Reduced No Rigs Post Feb EUR UPSIDE 3rd Party Gas Processing 8 New Wells Completed NEW COMPLETION 2015 Hedge New Completions Working 65 MMCFD at C 4.13/MCF (AECO)…
  11. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 11
    Eagle Ford Shale NEW Running Room 620 Operated Wells Drilled to Date LEGACY 2,000 Potential Locations ASSET Downspacing & Staggered 750 MMBOE Net Recoverable Resource 2,055 per Acre: Early Entrant Price Advantaged Near GOM 45…
  12. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 12
    EFS Tilden Area Productivity vs. Decline First 6 Months Decline Rate (Post Peak Production Month) -30% Sample Wells 70% Oil COMPLETION -40% STRATEGY WORKING Decreasing Decline MURPHY -50% -60% Median -70% Median…
  13. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 13
    EFS Upper & Staggered Pilots Karnes 300 Upper EFS Well Testing Upper EFS & Staggered Spacing BOE (000s) Lower EFS Wells 200 Positive Results 100 In Our Field Development Plans 20 0 50 days 100 150 200 250 300 350 750…
  14. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 14
    Exploration Strategy Focus Regions New Rules of Road No 100% Wildcat Wells Partner Required for New Country Entry & Well Commitments East Coast Canada Lower W.I. % & Participate in More Wells Gulf of Mexico Southeast Asia Play…
  15. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 15
    2015 Drilling Program 2015 Area Block Q2 Q3 Q4 Sea Eagle Dalmatian South 2 Thunder Bird GOM Well Opal 110 MMBOE 10 MMBOE Sidetrack 400 MMBOE GULF OF MEXICO 20 MMBOE Merapuh P10 Yu Central MALAYSIA SK-314A 12 MMBOE 11 MMBOE…
  16. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 16
    Malaysia: 2015 Wells SK 2C - Deepwater Block H Murphy 50% W.I. (Operator) Kudat Oligocene Delta-Plain Sandstones SK 2C (Gas, Condensate and Oil) Paus East-1 (GMR 300 MMBOE) BRUNEI BLOCK CA-1 SK2A (5% W.I.) Block K SABAH…
  17. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 17
    Guidance - 2Q 2015 2Q 2015 2Q 2015 Guidance 2Q 2015 Liquids (BOPD) Gas (MCFD) 2Q Production: 127,000 420,000 US - Eagle Ford Shale 52,500 39,000 Gulf of Mexico 12,500 55,000 Canada - Heavy 5,000 3,000 Montney - 189,000 Offshore…
  18. Q1 2015 EARNINGS CALL – Murphy Oil Corp – slide 18
    Non-GAAP Reconciliation ADJUSTED EARNINGS Murphy defines Adjusted Earnings as net income adjusted to exclude discontinued operations and certain other items that affect comparability between periods. Adjusted Earnings is used by…

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