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JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp

Murphy Oil Corp · Nov 13, 2013 · 37 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. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 1
    EXPLORATION DRIVEN. DELIVERY FOCUSED. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE ROGER JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER NOVEMBER 13, 2013 MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 1
  2. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 2
    Agenda Company Overview Strategy Exploration Global Offshore North America Onshore Takeaways MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 3
  3. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 3
    COMPANY OVERVIEW AND STRATEGY MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 4
  4. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 4
    A New Murphy Oil - Pure Play E&P Oil Weighted- Focused- Needle Moving- Exploration Program Complementary NA Onshore Position with New EFS Legacy Asset Continued Strong Production and Reserves Growth Highly Profitable Oil…
  5. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 5
    Continued Shareholder Focus Authorized Share Repurchase up to 1 Billion 500 Million Completed; Retired 8 Million Shares at 62.16 per Share Next 250 Million Announced Nov. 11, 2013 Program Approved until April 2014 Consistent…
  6. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 6
    Sustainable Production Growth Record Net, MBOEPD 300 2014 Growth 250 Leader in Production CAGR 200 150 100 Oil Weighted Profile 50 0 2007 2008 2009 2010 2011 2012 2013E 2014E 2015E 2016E New Projects Contribute in Oil & SK Gas…
  7. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 7
    Oil-Weighted Growth in 2014 (boepd) 280,000 5,000 Final Budget 260,000 7,500 5,500 Ongoing 9,900 8,000 245,000 8,000 240,000 240,000 11,000 17,000 220,000 203,900 200,000 180,000 MURPHY OIL CORPORATION…
  8. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 8
    Oil-Weighted Resource Base Proved Reserves MMBOE Proved Reserves: 604 534 2012 Net Increase 70 MMBOE PUD 455 402 439 5 Year Average Replacement 160% PDP 76% Oil & SK Gas Projects Reserves, Resources & Risked Exploration: 2008…
  9. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 9
    E&P Strategic Model Global Find Oil and Gas in Be a Preferred Underexplored Offshore Offshore Basins Partner Global Exploration Driven Offshore Execution Ability Demonstrate Superior Project Execution and Field Operation…
  10. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 10
    EXPLORATION MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 11
  11. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 11
    Exploration Strategy Focus Regions Gulf of Mexico Southeast Asia Atlantic Margin Australia 150 Risked Exploration, MBOEPD Australia 100 S.E. Asia Atlantic Margin 50 Gulf of Mexico - 2017 2018 2019 2020 2021 2022…
  12. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 12
    Strong Exploration Portfolio & Acreage Position PMEAN Resource End 2011 End 2012 Oct 2013 (mmboe) Gross Unrisked 5,390 7,000 8,940 Net W.I. Unrisked 2,210 3,345 4,040 Net W.I. Risked 690 805 970 2012 Net Offshore…
  13. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 13
    2013-14 Exploration Program BLOCK Q1 - 13 Q2 - 13 Q3 - 13 Q4 - 13 Q1 - 14 Q2 - 14 Q3 - 14 Keratau-1 Kelidang NE-1 130 MMBOE BRUNEI CA-2 Kempas-1 50 MMBOE Serai-1 350 MMBOE INDONESIA Semai II Bawang Putih-1 Dufresne-1 250 MMBOE…
  14. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 14
    Gulf of Mexico Titan Madagascar Jurassic Norphlet Area Murphy Leasehold 2,400 MMBOE Total Gross Resource PMEAN Strong Norphlet Position PTD: 25,000 Jurassic Norphlet Madagascar Titan W.I. 30% (Non-Op) W.I. 50%…
  15. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 15
    Atlantic Margin - Cameroon Ntem 2,800 MMBOE Atlantic Margin Total Gross PMean Elombo Eboni-1 Multiple Prospects and Leads Stacked Fan Play Early Tertiary Late Cretaceous Spud Q1 2014 600 MMBO Resource Potential Gross…
  16. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 16
    S.E. Asia Brunei Block CA-2 Kelidang NE-1 Gas Discovery Two Similar Prospects (80% W.I.) Spud 1st Well Nov 2013 Gross Resource Potential PMEAN Keratau 130 mmboe Kempas 50 mmboe Kelidang NE Discovery & Follow Up Prospects…
  17. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 17
    S.E. Asia - Vietnam Building Vietnam Acreage Position Farm-In Block 13/03 W.I. 20% Oil Prospect Similar to 11-2/11 Hon Khoai Prospect 85 MMBO PMEAN Gross Spud Mid-Year 2014 PTD 2175m Top Reservoir Section 1274m MURPHY…
  18. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 18
    GLOBAL OFFSHORE MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 19
  19. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 19
    Global Offshore Developments Serendah, Malaysia Patricia, Malaysia Siakap North/Petai, Malaysia Dalmatian, GOM 2013 2014 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun South Acis, Malaysia Permas, Malaysia Kakap,…
  20. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 20
    Malaysia SK Oil Developments Serendah Shallow Water Production 7 6 Shutdown for Sarawak Pipeline Work Fields w. 2013 1st Production 5 Initial Net, MBOPD 4 Permas Production 3 SOUTH ACIS 2 Patricia 1 Original Budget 0…
  21. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 21
    Malaysia: Key Assets 120 Block K Mechanical Well Gross Net Issues Block K 100 New 2013/2014 Production MBOPD 80 Kakap Early Production System 60 Siakap North-Petai Q4 2013 40 Kakap-Gumusut Main Project Q1 2014 20 0…
  22. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 22
    Malaysia Block H: Next Gas Project Front End of a New Development Technology Phase 1 (950 BCF) Rotan, Alum, Bemban & Buluh 10 Years Production Targeting Sanction Late 2013 1.5MMTPA FLNG Operated by PETRONAS Block H Gross…
  23. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 23
    NORTH AMERICA ONSHORE MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 24
  24. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 24
    Seal Long Term Focus Thermal 6 Billion BBL Oil In Place Cadotte Polymer Seal Significant Reserve Upside 2013 Thermal CSS North 2013 Central Polymer Focus Focus Polymer Harmon Central Seal Successful Pilot Project Valley…
  25. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 25
    Eagle Ford Shale New Legacy Asset 348 Wells Drilled KARNES 287 Producing Wells 16 Facilities Pipeline Projects in Place Ground Floor Entry High Value De-risked by Industry Drilling & Completion Improvements Continue TILDEN…
  26. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 26
    EFS Upside: Downspacing TILDEN Y-Bar Pilot Encouraging Results KARNES Flow Rates Comparable to Manka Pilot Offset 80 Acre Spacing Wells 10 TILDEN 60 KARNES Gross Cumulative, MBO Gross Cumulative, MBO Y-Bar Wells Offset…
  27. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 27
    EFS Well Optimization KARNES Optimized Well Placement Match Regional Min. Stress Direction CATARINA Longer Laterals Projected EUR Improvement Increasing Value in Catarina: Opex & Well Count Catarina Karnes 30 200 Briggs Wells…
  28. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 28
    EFS Field Review Tilden is Working Current Wells Base Wells Down - space Gross YTD Lowest Field Acres EUR/Well D&C Cost Larger Positive Acreage On 80 Well (MBOE) (MM) (MM) Prod Acres Adds Drilling & Completion Karnes 13,425…
  29. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 29
    EFS Resource 700 660MMBOE - 3P + Down Spacing 600 125 Resource Base Is Growing 500 131 MMBOE Proved YE12 125 Reserves Migration Continues 400 410 MMBOE 65 3P EURs Improving Across Play 300 175 200 Down Spacing Pilots Underway…
  30. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 30
    FINANCIALS MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 31
  31. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 31
    Financial Stability Historically Low Debt Billion Liquidity Sources 2.5 50% Cash Flow LTD % Debt/Cap US Retail Dividend (650 MM) 2.0 40% Revolver UK Downstream Sale 1.5 30% Investment Grade 1.0 20% Hedging Program to Manage…
  32. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 32
    Quality Assets with High Margins CANADA OFFSHORE Netback Prices Sept YTD Netbacks CANADA ONSHORE Oil : 108.47/BBL Netback Prices Syncrude: 100.24/BBL Seal: 47.97/BBL Montney: 3.05/MCF MALAYSIA Netback Prices Block K: 91.46/BBL…
  33. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 33
    Takeaways Well Positioned to Move Forward as Pure E&P Growth is Visible, High-Margin & Oil-Weighted Rich Portfolio of Discovered Resources Low-Risk Migration Exploration Focus Multiple High-Impact Tests in Next 12 MonthsStrong…
  34. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 34
    EXPLORATION DRIVEN. DELIVERY FOCUSED. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE ROGER JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER NOVEMBER 13, 2013 MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 35
  35. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 35
    APPENDIX MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 36
  36. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 36
    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…
  37. JEFFERIES 2013 GLOBAL ENERGY CONFERENCE – Murphy Oil Corp – slide 37
    Non-GAAP Reconciliation EBITDA and EBITDAX Murphy defines EBITDA as income from continuing operations before income taxes, depreciation, depletion and amortization (DD&A), and net interest expense. EBITDAX is defined as income from…

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