Skip to main content Barclay CEO Energy Power Conference – Murphy Oil Corp Investor Presentation | Shale Experts
Loading...
Pm

Barclay CEO Energy Power Conference – Murphy Oil Corp

Murphy Oil Corp · Sep 10, 2015 · 27 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. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 1
    BARCLAYS CEO ENERGY-POWER CONFERENCE SEPTEMBER 10, 2015 ROGER JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 1
  2. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 2
    Agenda Company Highlights Strong Financial Position Adding Balance with NA Onshore Focusing on Lower Risk Projects in Offshore Takeaways MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 3
  3. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 3
    2015 Plan 2015 Total Capex, 2.3 Billion NA Onshore 2015 CAPEX Global Offshore 5% 45% Total Capex 2.3 BN 8% 55% 34% Reduction from 2014 EFS 11% 38% 83% Development Montney 16% Exploration Seal/Syncrude GOM/E Canada Increased…
  4. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 4
    YTD 2015 Highlights Well-Positioned Financial MAINTAIN DIVIDEND Maintained Regular Dividend LOOKING FOR OPPORTUNITIES Balance Sheet Flexibility CAPITAL DISCIPLINE Reduced LOE by 9% Y-O-Y; Reduced G&A by 11% Y-O-Y Portfolio…
  5. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 5
    Driving Costs Lower Lease Operating Expense* /BOE 15 Eagle Ford Shale 13 14.61 Vendor & Supplier Cost Reductions Efficiency Gains 11 11.95 10.90 11.04 9 10.22 9.68 Deepwater Drilling 7 Next Generation Drilling Rigs 5 Improved…
  6. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 6
    Well-Positioned Balance Sheet Flexibility 2015E Net Debt/EBITDA (Mean Consensus Est.) 6x Sources of Liquidity Cash Flow 5x 2.0 BN Revolver 0.9 BN Cash Abroad 4x Potential Midstream Monetization Maintained Investment Grade…
  7. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 7
    Flexible Bond Maturity Profile Debt Balance MM 1,500 Current Maturity Profile* Total Bonds 2,250.0 1,250 Outstanding MM Weighted Avg Fixed 4.07% 1,000 Coupon Weighted Avg Maturity May 2025 750 Date 500 Weighted Avg Years to 9.8…
  8. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 8
    Low Average Cost of Debt E&P Sector Weighted Average Years to Maturity & Weighted Average Fixed Coupon 20 7.00% 18 18.2 Murphy 6.00% 16 4.07% 15.9 14 15.1 5.00% 14.3 14 12 4.00% 11.8 10 10.6 10 9.8 9.8 3.00% 8 8.7 7.8 7.5 7.2 6…
  9. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 9
    Price Diversity Brent LLS Weighted 2Q 2015 Production Basis Price Brent WTI Spread 70 65 60% 35% 23% Oil 60 28% Gas /BBL 55 Brent 2% LLS* 50 9% WTI 30% 8% Oil-Indexed Gas 45 5% Block K Gas NGL Other** 40 35…
  10. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 10
    Cash Flow / Barrel Advantaged - In Low Oil Price Environment 1H 15 EBITDAX/BOE 1H 15 EBITDA/BOE 25 25 23.67 20 20 Peer Average (6.01) 18.62 Peer Average (8.33) MUR 15 15 MUR 10 10 5 5 0 0 Three companies…
  11. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 11
    Continued Shareholder Focus Annual Returned to Shareholders MM Cumulative 2010 3,000 6,000 Committed to the Dividend 2,500 5,000 12% CAGR Last 10 Years 2,000 4,000 Current Dividend 1.40/share Annualized 1,500 3,000 5.0% Yield at…
  12. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 12
    NA Onshore - Canada Montney Tupper West New Well Completions 9 Wells Standing; 5 Wells Completing New Completions Increasing EURs 8-11 100t Slick Water BCF Upside 50t N2/CO2 Foam Future Growth of 1000+ Potential Locations Hedges…
  13. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 13
    NA Onshore - Eagle Ford Shale Running Room 660 Operated Wells Drilled to Date; 2,000 Potential Locations 750 MMBOE Net Recoverable Resource 2,055 per Acre: Early Entrant Price Advantaged Near GOM 45 API Gravity; Oil-Weighted 77%…
  14. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 14
    EFS Karnes Area Higher Rate Wells & Austin Chalk SuperSlickwater Existing Completions New Completions Super Slick Completions (1,650 lbs/CLAT*) Higher Concentration of Sand Near Wellbore for Higher Rate JOG Unit A1H* Testing…
  15. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 15
    EFS Valuable Production Mix 2014 EFS Production Mix Avg Cum. Oil by Well 24 Months MBO 100% 150 90% 80% 70% 100 60% MUR 50% MUR 40% 50 30% 20% 10% 0% 0 Oil NGL Gas Source: 2014 Data from Annual Reports and…
  16. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 16
    GLOBAL OFFSHORE MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 18
  17. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 17
    SE Asia Exploration Narrowing Focus in SE Asia Drilling Near Field Wells Thailand Laos 144 145 Established Operator in the Area Cambodia Recognized for Ability to Execute, Vietnam Philippines ie. Kikeh, FLNG,…
  18. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 18
    Malaysia Operations Sarawak Belum Gas 5 Gas Wells Low Nitrogen Gas First Gas July Block H Permas Oil Drilling Outcomes to Plan SK2A SK2D 20% Under Budget Block K Kakap-Gumusut Planned Outage Jun Aug Tie-in Gas Handling &…
  19. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 19
    Gulf of Mexico Murphy Leasehold Murphy HBP Murphy Facility Kodiak 29% W.I. (Non-Op.) Tieback to Devils Tower First Well Drilled & Completed to Plan Break-Even Flat Price: 40/bbl Dalmatian So. 2 Dalmatian South 70% W.I.…
  20. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 20
    2015 Drilling Program 2015 Area Block Q3 Q4 Solomon Dalmatian Thunder Bird DC-4 2 (Develp.) 312 MMBOE South 2 Sidetrack 8 MMBOE GULF OF MEXICO Drilling 10 MMBOE 20 MMBOE Merapuh 5 Marakas MALAYSIA SK-314A 13 MMBOE 12 MMBOE…
  21. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 21
    Budget Flexibility with Expiring Commitments Rig Commitment Expiry 2016 Black Rhino Feb Rig Commitments Discoverer Deep Seas Nov 2 Rigs in GOM Black Rhino Dalmatian South Discoverer Deep Seas Thunder Bird of Wells Exploration…
  22. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 22
    Eagle Ford Shale - Running Room N TILDEN 144 Wells Planned for 2015 TILDEN 750 MMBOE KARNES Proved & Net CATARINA Recoverable Resource 2,055 per Acre 0 10 mi Early Entrant Lower EFS Op & Lower EFS Spacing Proved Offset…
  23. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 23
    EFS Flexible Rig Portfolio NA Onshore 2015 2016 2017 EFS Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Rig 1 Rig 2 Rig 3 Rig 4 Rig 4 MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 30
  24. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 24
    E&P Sector Debt Profile 14 Observations E&P issuers have a front loaded maturity profile with 55.3% of the total 12 outstandings scheduled to mature before the end of 2025, and 28% of the outstandings are due to mature before 2020…
  25. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 25
    Volume and Value Proved Reserves % Weighting by Product Proved Reserves High Value per BOE vs. R/P Ratio 100% 14 13 MUR APA 80% R/P Ratio Weighting (%) Reserve Value per BOE of Proved Reserves (PV10% AT, /BOE) 12 HES 60% 11…
  26. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 26
    Sorted by % Proved Oil Reserves 25 90% Oil Block H Gas SK Gas NGLs Gas PD =60% 80%…
  27. Barclay CEO Energy Power Conference – Murphy Oil Corp – slide 27
    R/P Ratio (Years) Low NGL Exposure 25 NGLs 20 15 R/P (Years) 10 5 0 RRC XEC PXD DVN EOG NFX APC WLL MRO COP HES APA NBL CHK SWN MUR COG Source: 2014 10-K reports, Bloomberg MURPHY OIL CORPORATION www.m urp…

From the store

Browse maps, data & reports in the Shale Experts store