THIRD QUARTER 2017 EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 2, 2017 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER
3Q 17 Financial Overview Adjustments to 3Q 17 Earnings 3Q 3Q Foreign Exchange Losses (44 MM) MM (Except per Share) 2017 2016 Mark-to-Market Loss on Crude Oil Contract (12 MM) Consolidated Results Deferred Tax on Undistributed Foreign…
3Q 17 Overview Maintaining Price 3Q 17 Production Averaged 154 MBOEPD Onshore Production Averaged 86 MBOEPD (51% Liquids) Advantaged Offshore Production Averaged 68 MBOEPD (73% Liquids) Production from Offshore Assets Generated…
Production & Guidance Update 3Q 17 Production Impacts 2017 Annual Capex Spend at 940 MM Reductions Increased from Original Guidance of 890 MM Eagle Ford Shale Partial Field Shut-In, Delayed Completions, 37 MM Midland Basin Acreage,…
Diversified Portfolio Yields Premium Netbacks 3Q 2017 Sales Basis Price Premium Oil Margins Widening to WTI 65 37% 57% Natural Gas Oil 60 Brent/MCO 28% 29% (Malaysian Crude Oil)* LLS** 55 Dollar per Barrel WTI…
PORTFOLIO REVIEW MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 7
Global Offshore 3Q 17 Offshore Operations 3Q 17 Highlights Total Production (BOEPD) 68,000 Total Percent Liquids 73% Malaysia Gulf of Mexico (Operated) Generated 140 MM Free Cash Flow 99% Uptime of Operated Facilities Medusa…
Vietnam Exploration Update Cuu Long Basin Block 15-1/05 Murphy 35% WI, Non-Op Significant Discovered Resource and Potential Upside 15-1/05 in Lac Da Vang (LDV) Field LDN DRO Progressing Development Plan 15-2/17 On Track for…
New Exploration Entry Brazil Renewed Exploration Portfolio with Low-Cost Entry & Long-Term Opportunities Farm-In to QGEPs Sergipe-Alagoas Blocks Secured Blocks 351 & 428 Murphy 20%, ExxonMobil 50% (Op), QGEP 30% 11 MM Net Murphy…
Gulf of Mexico Exploration Update LOUISIANA Dalmatian Renewed Exploration Portfolio with Low-Cost Entry & Near to Mid-Term Leibniz Opportunities Medusa Kodiak Awarded Block MC 556 Leibniz Front Runner Clipper Prospect Thunder…
Eagle Ford Shale 3Q 17 4Q 17 E Eagle Ford Shale 3Q 17 Highlights Total Production (BOEPD) 45,000 52,000 New Wells Online 27 15 On Time Well Delivery Despite Harvey Disruptions Total Percent Liquids 89% 27 New Wells Online Wilson 14…
New Entry Midland Basin Gaines Dawson Growing Onshore Portfolio with Grass Roots Leasing Midland Basin Murphy Additional 275 Locations with Break-Even < 40/BBL 1 WCB, 1 LSPB Initial Test Wells 2 Wells Drilled 3Q 17, Online 4Q 17…
Tupper Montney 3Q 17 4Q 17 E Tupper Montney 3Q 17 Highlights Total Production (MMCFD) 208 223 New Wells Online - 5 Recent Activity A-23 Pad (5 Wells) 4Q 17 Drilled & Online Expansion Project Progressing FEED for 2018 Sanction…
Kaybob Duvernay 3Q 17 Kaybob Duvernay 3Q 17 Highlights Total Production (BOEPD) 3,750 New Wells Online 3 Increased Production 32% from 1Q 17 to 3Q 17 Appraisal Wells Update 11-18 Pad (3 Wells) Oil Online 3Q 17 Average 9,100 ft…
2017 Kaybob Duvernay Appraisal Plan 2017 Appraisal Plan Drill 16 Wells Complete 12 Wells Online 11 Wells E 2017 2018 Appraisal Plans BF C J Highly Scientific & Deliberate D Designed to Appraise Data for Full-Scale A…
Takeaways Maintaining Cash Balances while Funding Capital Program Returning Cash to Shareholders via Dividend Policy Continuing Cost Focus, with New Decade-Low LOE/BOE Increasing Portfolio of Low Break-Even Onshore Locations…
Guidance 4Q 2017 4Q 2017 4Q 2017 Guidance 4Q Liquids (BOPD) Gas (MCFD) 4Q Production: US - Eagle Ford Shale 46,750 33,500 Gulf of Mexico 13,500 12,500 Canada Tupper Montney - 223,000 Kaybob Duvernay & Placid Montney 4,600 19,500…
2017 Hedging Positions Volumes Area Commodity Type (BOPD) Price (USD/BBL) Start Date End Date United States WTI Fixed Price Derivative Swap 22,000 50.41 10/1/2017 12/31/2017 United States WTI Fixed Price Derivative Swap 7,000 51.92…
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