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4Q 2017 Earnings Conference Call – Murphy Oil Corp

Murphy Oil Corp · Feb 1, 2018 · 23 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. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 1
    FOURTH QUARTER 2017 EARNINGS CONFERENCE CALL & WEBCAST FEBRUARY 1, 2018 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 1
  2. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 2
    FY & 4Q 17 Overview Achieving High-Margin Driving EBITDA Margins by Maintaining Shareholder- Production from Lowering Costs Focused Strategy Diversified Portfolio 4Q 17 Production Averaged 168 MBOEPD Achieved LOE of 7.89/BOE FY 17…
  3. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 3
    Increasing Reserves & Lowering F&D Costs 3 Year F&D Costs Maintaining High-Margin, Oil-Weighted Portfolio 30 Organic Reserves Replacement 113% 25 Total Reserves Replacement 123% /BOE 20 1 Year Cumulative F&D Costs of…
  4. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 4
    4Q 17 Financial Overview 4Q 4Q Adjustments to 4Q 17 Earnings MM (Except per Share) 2017 2016 Impact of Tax Cuts & Jobs Act (274 MM) Consolidated Results Foreign Exchange Gains (22 MM) Income (Loss) (287) (64) Mark-to-Market Loss on…
  5. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 5
    PORTFOLIO REVIEW MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 6
  6. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 6
    Offshore Operations 4Q 17 Highlights Malaysia Gulf of Mexico (Operated) Generated Over 100 MM Free Cash Flow 99.5% Uptime of Operated Facilities 4Q 17 Sabah Medusa Preparing for Subsea Well Workover 1Q 18 Kikeh ESP Pilot Start Up 4Q 17,…
  7. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 7
    Gulf of Mexico Exploration Update Low-Cost, Near-Term Opportunities that Leverage ALABAMA Existing Infrastructure MISSISSIPPI FLORIDA Planning for Samurai (GC 432) Appraisal Murphy Operator LOUISIANA Expected Spud 1Q 18 Mean Gross…
  8. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 8
    International Exploration Update Mexico Deepwater Block 5 Murphy 30% WI, Operator Reviewing Newly Processed WAz Seismic, Confirms Multiple Prospects 1+ BBOE Gross, 300+ MMBOE Net Recoverable Resource Potential on Block 4Q 18 Target…
  9. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 9
    Multi-Year Global Exploration Plan Offshore Exploration Drilling Plan Renewed Exploration Portfolio with Low-Cost Entries & Near, Mid & Long-Term Opportunities 2018 2019 2020 2021 2022 Substantial Resource Potential United States Net…
  10. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 10
    US Onshore Operations 4Q 17 Highlights Eagle Ford Shale Atascosa Eagle Ford Shale Karnes Well Delivery 78 Wells Online FY 17 Tilden 18 New Wells Online 4Q 17 Karnes Dimmit La Salle 3 Karnes 1 Upper EFS, 2 Austin Chalk, Average IP30…
  11. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 11
    Eagle Ford Shale 4Q 17 Highlights Drilled Murphy Record Lateral Length Well in Catarina, 12,000 ft Atascosa IP30 Substantial Improvement in Catarina Karnes Enhanced Spacing and Frac Designs, Catarina Cluster Spacing Optimized Tilden…
  12. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 12
    Tupper Montney 4Q 17 Highlights Top Tier North American Dry Natural Gas Play Henry Hub Dry Natural Gas Break-Even Prices, /MCF Recent Activity a-23 Pad (5 Wells) 4Q 17 Online, Avg Lateral Length 10,000 ft, 5.50 Facility-Constrained…
  13. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 13
    Kaybob Duvernay 4Q 17 Highlights Increased Production 31% from 4Q 16 to 4Q 17 Drilling Pacesetter Wells Increased Feet per Day by 56% from 2016 to 2017 Lowered Cost per Foot by 21% from 2016 to 2017 Appraisal Wells Update Online 4Q…
  14. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 14
    Kaybob Duvernay 2018 Plan 2018 Appraisal & Development Plan Kaybob North 150 Locations Kaybob East Drill 17 Wells, Online 23 Wells 20% De-Risked 295 Locations Contingent Drill 7 Wells, Online 2 Wells H J Move Kaybob West & Saxon…
  15. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 15
    LOOKING AHEAD MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 16
  16. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 16
    2018 Plan 2018 Annual Capex Guidance 1.056 BN 650 MM Allocated to NA Onshore Unconventional 88% Allocated to Field Development & Development Drilling 2018 Total Capex Includes 125 MM CAPEX for Long-Term Offshore Projects Dalmatian…
  17. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 17
    Paying Our Way & Living Within Cash Flow Peer Adjusted Free Cash Flow & Equity Issuance Comparison 2014 3Q 2017 Protected Our Shareholders by Not Issuing 4 Equity During Downturn 3 Maintained Strong Balance Sheet with Measured…
  18. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 18
    Price 2018 2019 2020 2021 2022 Multi-Year Plan WTI 52.00 54.60 57.33 60.20 63.21 Brent 55.50 58.10 60.83 63.70 66.71 HH 3.00 2.81 2.86 2.92 2.98 300 3,000 Measured, Oil-Weighted Production Growth Within Cash Flow while Delivering…
  19. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 19
    Takeaways Growing Production with Disciplined Capital Allocation Achieving High Cash Margins from Diverse, Oil-Weighted Portfolio Focusing on Continued Cost Reductions Continuing to Return Cash to Shareholders with Current…
  20. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 20
    APPENDIX MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 21
  21. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 21
    Guidance 1Q 2018 1Q 2018 1Q 2018 Guidance 1Q Liquids (BOPD) Gas (MCFD) 1Q Production: US Onshore 40,500 30,500 Gulf of Mexico 11,750 11,000 Canada Tupper Montney - 235,000 Kaybob Duvernay & Placid Montney 4,750 25,500 Offshore…
  22. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 22
    2018 Hedging Positions Volumes Area Commodity Type (BOPD) Price (USD/BBL) Start Date End Date United States WTI Fixed Price Derivative Swap 21,000 54.88 1/1/2018 12/31/2018 Volumes Area Commodity Type (MMCFD) Price (MCF) Start…
  23. 4Q 2017 Earnings Conference Call – Murphy Oil Corp – slide 23
    NA Onshore Running Room Area Net Acres PDP Wells Reservoir Remaining Wells Spacing (Acres) Total Well Count* Three Main Unconventional Plays: Eagle Ford Shale, Duvernay & NA Onshore Total 413,156 1,222 5,176 6,398 Lower EFS 60 40…

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