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Q2 2016 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · Jul 28, 2016 · 21 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. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 1
    SECOND QUARTER 2016 EARNINGS CONFERENCE CALL & WEBCAST JULY 28, 2016 Roger Jenkins PRESIDENT & CHIEF EXECUTIVE OFFICER
  2. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 2
    2Q 16 Financial Highlights 2Q 2Q MM 2016 2015 Consolidated Adjusted Earnings 2Q 16 Contd Ops Net Income (Loss) 2.9 (73.8) Tax Benefits from Sale of Syncrude & Montney Midstream /Diluted Share 0.02 (0.42) Mark to Market Loss on…
  3. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 3
    2Q 16 Overview Closed on Divestitures of Syncrude & Midstream Montney Combined Repositioning the Proceeds of 1.15 BN Completed JV in Kaybob Duvernay & Placid Montney Portfolio Continuous Portfolio Review Paid Down Entire…
  4. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 4
    2Q 16 Production 2Q 16 Net Production, Mboepd 2Q 16 Production 175 Non-Operated Block K Gas 3rd Party Downtime Onshore Canada Natural Gas Pipeline Restrictions 170 Syncrude Previously Announced Downtime & Wildfires 172.2 Operated…
  5. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 5
    2016 Guidance and Capex 2016 Total Capex, 620 Million NA Onshore 53% 620 MM 2016 Capex 14% Excluding Costs of 207 MM Associated 32% Eagle Ford Shale with Acquisition of JV Kaybob Duvernay Offshore Canada Onshore & Placid…
  6. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 6
    Continued Cost Focus Yielding Results Lease Operating Expense* /boe 11.00 9.00 Focusing on Cost Reductions 7.00 Reduced LOE Costs 23% Q-O-Q 5.00 2Q 15 FY 15 2Q 16 Reduced Recurring G&A Costs by *Excludes both Syncrude and…
  7. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 7
    Streamlined Portfolio PRODUCTION OPERATIONS Large, Global, Diversified Asset Base Provides Balance Duvernay/ Seal Montney Hibernia / Eagle Ford Terra Nova Stable Cash Flows from Long-Lived Conventional Shale Gulf of Mexico…
  8. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 8
    PORTFOLIO REVIEW MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 9
  9. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 9
    Global Offshore Operations 2015 Proved Reserves 31% 28% 166 Sarawak MMboe South Acis Block H Installation of Topside Planned 41% for 3Q 16 First Production 4Q 16 Sarawak Block K Block K Block H Sabah Kikeh 2Q 2016…
  10. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 10
    North America Offshore Operations East Coast Canada East Coast Canada 2015 Proved Reserves 2 Non-Op Producing Fields Hibernia 37% 72 Terra Nova MMboe Gulf of Mexico 63% Gulf of Mexico 4 Operated Producing Fields Canada…
  11. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 11
    Australia Ceduna Basin EPP43 Murphy 50% WI, Operator Murphy & Santos Term: 2013 2019 6,600km2 3D Seismic Large Structures; Stacked Pay Potential EPP43 No Well Commitment EPP37 EPP44 Monitoring Upcoming Drilling EPP38…
  12. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 12
    Eagle Ford Shale Oil Weighted & Ground Floor Entry D&C Costs of 4.0 MM in 2Q 16 25% Reduction Q-O-Q 2H 2016 30 Wells Planned Online 2015 Proved Reserves Karnes 10% 11,200 Net Acres at 40 Acre Spacing 12% 268 231 Wells Drilled*…
  13. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 13
    Eagle Ford Shale High Concentration Sand Fracs EFS High EFS Monster Concentration Sand AC High AC Monster Concentration Sand EFS Super SW (25+ EFS Super SW (25+ Recent Recent Wells) Wells) EFS SW EFS SW (same (same pad pad…
  14. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 14
    Eagle Ford Shale Stacked Potential Stacked Potential in Majority of Acreage TILDEN CATARINA Upper EFS Austin Chalk 500 Down Spacing Testing Ongoing in 800 Upper and Lower EFS Lower EFS Upper EFS 600 350-500 350-500 660…
  15. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 15
    NA Onshore Operations Tupper Montney Tupper Main 2015 Proved Reserves Natural Gas Gathering System 30,000 Net Acres 0% 110 MMcfd Name Plant Capacity (Gross) TCPL Main Transmission Line 114 Wells Drilled* 149 2Q 16 Net Production:…
  16. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 16
    NA Onshore Operations Kaybob Duvernay & Placid Montney Joint Venture Closed May 13, 2016 Kaybob Duvernay 70% WI, Operatorship 232,000 Gross Acres (200,000 Currently Prospective) 2Q 16 Production 1,240 boepd (52% Liquids) Black Oil…
  17. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 17
    Kaybob Duvernay Activity Update Recent Production - 2016 01-05 Pad (2 Wells) ATH /16-6 IP30: 460 boepd (649 BPM, 81%Liq.) ATH 01-05 PAD ATH 02/16-6 IP30: 677 boepd (633 BPM, 79%Liq.) 4-32 PAD (3Wells) Q4 2016 Drilling KAYBOB EAST…
  18. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 18
    Placid Montney Activity Update Recent Production 12-19 Pad (On-line 2Q 16) 03-17 IP30: 573 boepd (338 BPM, 67% Liq.) KAYBOB WEST 06-17 IP30: 752 boepd (240 BPM, 59% Liq.) Fox Creek 11-17 P30: 733 boepd (338 BPM, 67% Liq.) KEYERA…
  19. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 19
    Takeaways Recalibrate the Company to be Successful at Low Prices Key Assets Continue Performing Well Remain Focused on Cost Structure Strengthen Balance Sheet by Lowering Debt Levels No Issuance of Equity in Price…
  20. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 20
    Guidance 3Q 2016 3Q 2016 3Q 2016 Guidance 3Q 2016 Liquids (bopd) Gas (mcfd) 3Q Production: 103,500 390,000 US - Eagle Ford Shale 41,000 35,000 Gulf of Mexico 12,000 14,000 Canada - Heavy 3,000 2,000 Montney and Duvernay 2,000…
  21. Q2 2016 Earnings Presentation – Murphy Oil Corp – slide 21
    2016 Hedging Positions Volumes Price Field Commodity Type (bbl/d) (USD/bbl) Start Date End Date United States WTI Fixed Price Derivative Swap 25,000 50.67 7/1/2016 12/31/2016 United Stated WTI Fixed Price Derivative Swap 7,000 50.10…

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