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RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp

Murphy Oil Corp · Jun 4, 2013 · 33 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. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 1
    RBC Capital Markets Global Energy & Power Conference Roger Jenkins Executive Vice President & COO June 4, 2013 M U R P H Y O I L C O R P O R AT I O N
  2. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 2
    On-Going US Retail Spin Pure E&P U.S. Retail Strategic Plan Focus Resource and Capital Allocation Proper Peer Group MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 3
  3. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 3
    Focus On Shareholders Special Dividend of 2.50 per Share Approximately 500 Million Authorized Share Repurchase up to 1 Billion First 250 Million; Retired 4,064,261 shares; Announced Dec 10, 2012 2nd Tranche of 250 Million; Announced…
  4. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 4
    Sustainable Growth Record 300 Net, MBOEPD 250 200 150 Top Tier Production Growth 85% 100 78% 50 Oil Weighted 0 2007 2008 2009 2010 2011 2012 2013E 2014E 2015E 2016E Oil & SK Gas Dry & Assoc. Gas Continued Growth to 2016 &…
  5. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 5
    Reserve Growth with Resource Migration Ahead Proved Reserves Reserves: MMBOE 2012 Additions 70 MMBOE 604 534 5 Year Average Replacement 160% 439 455 77% Oil & SK Gas Projects 402 Resources: 3.3 Billion BOE 70% Within Existing…
  6. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 6
    Our Strategy Develop Differentiated Perspectives In Underexplored Basins and Plays The Key to Our Success Continue to be a Preferred Partner to NOCs and Regional Independents Complement our Offshore Business by Developing…
  7. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 7
    EXPLORATION MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 8
  8. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 8
    Exploration Focus Regions Play Type Focus: Large Structures in New Areas or Plays Oil-Prone Deepwater Stratigraphic Plays 1 Multiple Structures - Cluster Development 2 3 Program Goal: 4 Consistent 10 Well per Year Program…
  9. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 9
    Exploration Prospect Portfolio 900 7,800 MMBOE Total P50 Gross P50 Resource By Region Bassett West Gross 800 Gulf of 900 MMBOE P50 Net Australia Mexico Risked 22% 21% 700 1.5x Proved Resources Ntem Gross P50 Resources…
  10. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 10
    2013 Exploration Program BLOCK Q1 - 13 Q2 - 13 Q3 - 13 Q4 - 13 Q1 - 14 Kelidang NE-1 BRUNEI CA-2 Kelidang NE Offset Serai-1 & Bawang Putih-1 INDONESIA Semai II Eupheme-1 AUSTRALIA Browse Basin Dufresne-1 Bassett West-1…
  11. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 11
    Brunei CA-2 Gas Exploration Kelidang NE-1 Discovery BRUNEI Deep Offshore 2 Follow On Wells Late 2013 Block CA2 Murphy W.I. 30% Siakap North- BLOCK CA-1 (5% W.I.) BLOCKK Petai Kikeh Kakap- Petronas, Shell, ConocoPhillips, BLOCK…
  12. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 12
    Australia Browse Basin Murphy W.I. 20% Large Prospects in a Proven Play Bassett West-1 Currently Drilling Results Imminent Resource (TCF) Gross Net Dufresne-1 Mean High Mean High Next to Drill Bassett Deep 5.0 10.9 1.1 2.4…
  13. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 13
    Cameroon Impactful Prospects Multiple Prospects and Leads Stacked Fan Play Late Cretaceous Early Tertiary 2,600 MMBOE Total Gross P50 600 MMBO 300 MMBO Drill Q1 14 Drill Q3 13 MURPHY OIL CORPORATION…
  14. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 14
    Gulf of Mexico Long History of Success Known Terms and Regulator 3 Play Types 1,600 MMBOE Total Gross Resource P50 Multiple Prospects and Leads Titan Murphy W.I. 70% Jurassic Norphlet Play Gross Resources 150 - 300 MMBOE…
  15. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 15
    GLOBAL OFFSHORE MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 16
  16. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 16
    Malaysia Shallow Water Developments Patricia Serendah South Acis Permas 1st Prod Oct 13 1st Prod Jun 13 1st Prod Sep 13 1st Prod Dec 13 Net Peak Rate: Net Peak Rate: Net Peak Rate: Net Peak Rate: 1,100 BOPD 14 6,200 BOPD 14 8,400…
  17. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 17
    Malaysia: Block K 25 New 2013 Block K Production Net, MBOEPD 20 Siakap North/ Petai 15 Kakap Floating Production Unit 10 Kakap Siakap North/ Petai 5 - 2013 2014 2015 2016 Kikeh Key Asset 140 New Completion Designs…
  18. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 18
    Sarawak Gas: Long Term Value 300 9 1.5 TCF P2 EUR Resources Rate Prices 8 1.1 TCF Total EUR Proven & 250 7 Certified Phase II 640 BCF - Gross, MMCFD 200 6 Contracted /MCF 5 150 4 100 3 Oil-Indexed Gas Price 2…
  19. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 19
    Malaysia Block H: Next Gas Project 7 Consecutive Discoveries 1.5MTPA FLNG Operated by PETRONAS Progressing FLNG FEED Phase 1 (950 BCF) Rotan, Alum, Bemban & Block H Gross Estimated Resources of 2300 BCF Buluh 300 10 Years…
  20. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 20
    Building Back GOM Business Strong Net Income & Cash Flow Provider Medusa Expansion History of Ability Favorable Terms & Dalmatian Project Regulator of Blocks Opex per BOE Net, MBOEPD 20 50 Medusa Expansion 40 15 30 10…
  21. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 21
    NORTH AMERICA ONSHORE MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 22
  22. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 22
    Seal Long Term Focus Recent Bolt-On Land, Facility, Production 2013 Thermal Seal 2013 Polymer Focus Focus North 5,850 MMBBLS Oil In Place Significant Reserve Upside Harmon Valley Seal Chipmunk Dawson Polymer Successful…
  23. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 23
    Onshore Canada Long View Properties Add a map Montney: Option on Gas Price 3.6 TCF Resource 4.50 5.4 TCF Resource 5.00 8 TCF Resource 6.00 Quality De-risked Sub-Surface Recent Liquids Asset Success 150,000 Net Acres LNG…
  24. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 24
    Eagle Ford Shale New Legacy Asset N TILDEN KARNES Ground Floor Entry High Value 281 Wells Drilling Pearsall 300 MMBO Net Focus 231 Producing Wells Area Largest in Company History 16 Facilities Pipeline Projects in Place 87 MMBOE…
  25. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 25
    EFS - Improving Cost Structure EFS Drilling Cost EFS Completion Cost 42% 291 1,210 35% Drilling & Completion Improvements 169 763 Driving Capital Efficiency and Margin Improvement /ft /Completed Lateral ft Lifting Cost…
  26. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 26
    Financial Stability Returning to Free Cash Flow Capex & Cash Flow, MM 6,000 Recent Debt Downstream Corporate EFS Exploration (ex. EFS) Recapitalization Development (ex. EFS) Cash flow EFS Development 5,000 Integrated E&P…
  27. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 27
    Quality Assets with High Margins - EBITDAX/BOE Production Growth 2012 2016, MBOEPD 80 Total 2016* CANADA ONSHORE /BOE CANADA OFFSHORE /BOE 2012 21 2012 89 60 Q1 2013 18 Q1 2013 95 EFS MALAYSIA* /BOE 40 2012 66 GOM Q1 2013…
  28. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 28
    Takeaways Growth is Visible, High-Margin & Oil-Weighted Exploration First Four High-Impact Tests in Next 12 Months Complementary Onshore Eagle Ford a New Legacy Asset Rich Portfolio of Discovered Resources Low-Risk Migration…
  29. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 29
    RBC Capital Markets Global Energy & Power Conference Roger Jenkins Executive Vice President & COO June 4, 2013 M U R P H Y O I L C O R P O R AT I O N
  30. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 30
    APPENDIX MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 31
  31. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 31
    Non-GAAP Financial Measure Definitions & Reconciliations The following list of Non-GAAP financial measure definitions and related reconciliations is intended to satisfy the requirements of Regulation G of the Securities Exchange Act of…
  32. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 32
    Non-GAAP Reconciliation EBITDAX Murphy defines EBITDAX as income from continuing operations before income taxes, exploration expenses, depreciation, depletion and amortization (DD&A), and net interest expense. Management believes that…
  33. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Murphy Oil Corp – slide 33
    Non-GAAP Reconciliation CASH FLOW Murphy defines Cash Flow as net cash provided by operating activities before changes in noncash operating working capital, geological and geophysical expenses and other exploration expenses, proceeds…

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