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JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp

Murphy Oil Corp · Jun 29, 2016 · 28 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. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 1
    J.P.MORGAN INAUGURAL ENERGY EQUITY CONFERENCE 2016 JUNE 29, 2016 ROGER JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER
  2. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 2
    Agenda 01 Business Update 02 Asset Review 03 Takeaways M URPHY OIL CORPORATION www.mur phyoilc or p.c om N YS E : MU R 3
  3. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 3
    Diversified Global Operations MONTNEY EFS MALAYSIA MURPHY 14 Net TCF Remaining Resource +2,000 Remaining Locations Successful Deepwater & Shallow Water Proven Safety Track Future Growth of 1,000+ Potential Austin Chalk Upside Oil…
  4. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 4
    Lower for Longer Perspective While Maintaining Strategy LOWER FOR LONGER STRATEGY MINIMAL CAPITAL Spend Develop DIFFERENTIATED PERSPECTIVES in Underexplored Basins and Plays Focus on COST REDUCTIONS Continue to be a PREFERRED…
  5. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 5
    Solid Cash Flow Metrics 1Q 16 Adjusted EBITDAX, /boe 1Q 16 Adjusted EBITDA, /boe APA 28.44 APA 28.44 PXD 15.32 NFX 12.52 NBL 15.19 PXD 12.39 MUR 13.80 MUR 12.29 NFX 12.52 NBL 10.88 WLL 9.91 APC 8.09 APC 9.77 WLL 7.26 EOG 7.65 EOG 7.04…
  6. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 6
    Lower for Longer Continued Improvement in Drilling Costs EFS D&C 10 8,000 Offshore Ability Competitive Advantage Cost per well (MM) Lateral Length (ft) 8 6,000 6 Onshore Ability Proven Track Record of 4 4,000 Lowering…
  7. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 7
    Exercising Capital Discipline 2016 Total Capex, 620 Million Capex Reduction Aligns Activity EFS Levels with Lower Price Environment 20% Tupper Montney 33% Duvernay/Placid Montney 620 MM 2016 Capital Including JV 7% Kaybob…
  8. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 8
    Continued Focus on Cost Reductions Lease Operating Expense* /boe 10 30 Production (mmboe) 8 9.68 25 LOE (/boe) 8.25 6 7.50 20 4 15 2 0 10 Reduced LOE /boe by over 22% Q-O-Q 1Q 15 4Q 15 1Q 16 Production * Excludes…
  9. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 9
    2015 An Outstanding Year in Reserve Replacement 19.4 2015 Reserve Life** 20 18 16 13.8 13.8 13.6 14 RLI (years) Proved Reserves YE 2015 12 11.0 10.1 9.3 9.2 8.9 8.8 Mean: 9.6 years 774 Mmboe* 10 8.1 8.0 7.9 8 6.7 6.4 6.1…
  10. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 10
    Repositioning the Portfolio MONETIZED MONTNEY MIDSTREAM l Closed 2Q 16 DIVESTED C539 MM Proceeds from Sale Before Closing Adjustments C1.5 BN Proceeds Allocated to Portfolio Enhancements and Cash on Balance Sheet 20 Year Customary Fee…
  11. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 11
    ASSET REVIEW M URPHY OIL CORPORATION www.mur phyoilc or p.c om N YS E : MU R 12
  12. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 12
    Global Offshore Operations 2015 Proved Reserves Price Diversity Block K & SK Premium to Brent 31% 28% SK Gas Oil Indexed Natural Gas 166 MMboe Partnered with PETRONAS 41% Block H Sarawak Sarawak 9 Producing Fields Block K…
  13. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 13
    North America Offshore Operations East Coast Canada 2015 Proved Reserves Gulf of Mexico 4 Operated Producing Fields 37% 72 HIBERNIA Medusa MMboe Gulf of Mexico Front Runner 63% Thunder Hawk Dalmatian Canada Offshore 3 Non-Op…
  14. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 14
    GOM Kodiak Update Kodiak 29% W.I. (Non-Op.) Tieback to Devils Tower Current Production 15,500 bopd & 9.5 MMcfd Positive Low Priced Economics Murphy Murphy Murphy Leasehold HBP Facility 18 16 Oil Gas 14 KBOPD/MMSCFD…
  15. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 15
    North America Onshore Operations 2015 Proved Reserves* US Onshore 33% Gas Eagle Ford Shale (Operated) 21% MONTNEY EFS Karnes 536 Canada Onshore MMboe 50% SEAL Tilden/N. Tilden Syncrude DUVERNAY 29% Catarina 67% Oil Canada…
  16. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 16
    US Eagle Ford Shale Oil Weighted & Ground Floor Entry Remaining Resource Potential 800+ MMboe 45 API Gravity; 89% Liquids, 13% NGLs Karnes Tilden/N. Tilden 11,200 net acres at 40 Acre Spacing 77,400 net acres at 40/80 Acre Spacing…
  17. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 17
    East Eagle Ford Shale Cumulative Liquids 250 100% 90% 200 80% 24 Cum Liquid Percent 70% 150 60% MBBL 50% 100 40% 30% 50 20% 10% 0 0% Devon BHP Murphy Conocophillips Pioneer Rscs Encana EOG Marathon Penn…
  18. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 18
    Eagle Ford Shale Austin Chalk Upside Austin Chalk Horizontal Wells 250,000 1,800 Drilled Since 2013 JOG A1H Tier 1 Austin Chalk Well 1,600 JOG A1H: Cumulative Gross 2-Stream BOE (bbls) 200,000 1,400 570 MBOE EUR Rate-Time…
  19. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 19
    NA Onshore Operations Tupper Montney Natural Gas Gathering System Tupper Main TCPL Main Transmission Line 30,000 Net Acres 110 MMcfd Plant Capacity (Gross) 114 Wells Drilled* 1Q 16 Net Production: 78 Mmcfepd Tupper West 72,000…
  20. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 20
    Competitive Low Cost North American Operator Canadian Junior E&P 2016E Cost Structure 3.50 3.00 2.50 Cost (C/mcfe) 2.00 Murphy Montney 1.50 C1.40/mcfe 1.00 0.50 - PEY AAV TOU PPY SRX BNP VII CR ARX POU DEE KEL…
  21. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 21
    NA Onshore Operations Kaybob Duvernay & Placid Montney Kaybob Duvernay 70% WI, Operatorship 232,000 Gross Acres (200,000 Currently Prospective) 60% Liquids Area Includes 247,000 Gross Acres of Overlying Conventional Montney Rights…
  22. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 22
    NA Onshore Kaybob Duvernay 2016 Remaining Plans 4 Wells On-line Partner Discussions to Accelerate 2H 16 Development 2,000 boepd Net Production Emerging as Premier Play Gas Condensate Delivering High Liquid Yields Early Stages of…
  23. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 23
    NA Onshore Placid Montney 2016 Remaining Plans 2 Wells Drilled; 3 Wells On-line Condensate Limit Partner Discussions to Accelerate 2H 16 Development CIOC 400 boepd Net Production 7 Gens Montney Most Drilled Canadian Play in 2015…
  24. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 24
    FINANCIAL OUTLOOK M URPHY OIL CORPORATION www.mur phyoilc or p.c om N YS E : MU R 25
  25. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 25
    Financial Position as of March 31st 550 MM in Debt Maturities within Next Five Years 0.9 BN Drawn on Revolver 569 MM Cash and Liquid Invested Securities Proceeds from 2Q 16 Asset Divestitures of C1.5 BN Debt Balance MM 1,200…
  26. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 26
    Focus During the Down Cycle PRESERVING LIQUIDITY 2016 Capex 620 MM, 72% Reduction from 2015 Levels Securing Longer Tenor on Revolver Non Core Asset Sales Continue to Review Portfolio OPERATIONAL ENHANCEMENTS Continue to…
  27. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 27
    TAKEAWAYS M URPHY OIL CORPORATION www.mur phyoilc or p.c om N YS E : MU R 28
  28. JP Morgan Inaugural Energy Equity Conference – Murphy Oil Corp – slide 28
    Takeaways Recalibrate the Company to be Successful in Lower Prices Aggressive Capital and Costs Reductions Entered Year with Strong & Diversified Reserve Base Significant Changes in Portfolio Maintain Balance Sheet to Weather…

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