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Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp

Murphy Oil Corp · Feb 14, 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. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 1
    CREDIT SUISSE 23RD ANNUAL ENERGY SUMMIT FEBRUARY 14, 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. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 2
    Agenda 01 Business Review 02 Portfolio Review 03 Looking Ahead 04 Takeaways MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 3
  3. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 3
    Full Year 2017 Highlights Achieving High-Margin Driving Valuable EBITDA Maintaining Shareholder- Production from Margins by Lowering Costs Focused Strategy Diversified Portfolio FY 17 Production Averaged 164 MBOEPD Achieved LOE of…
  4. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 4
    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…
  5. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 5
    2018 Plan 2018 Annual Capex Guidance 1.056 BN 2018 Total Capex 650 MM Allocated to NA Onshore Unconventional Offshore 38% 88% Allocated to Field Development & Development Drilling US Onshore 4% Includes 125 MM CAPEX for Long-Term…
  6. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 6
    2018 Capital Drives Future Offshore Production Low-Cost Offshore Projects Maintaining Production at Existing Fields with 25 160 140 Low-Cost, Innovative Projects 20 Kikeh DTU Gas Lift Online 3Q 2018 120 Production, MBOEPD 15…
  7. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 7
    Onshore Oil-Weighted Production Growth Net Production, MBOEPD 100 1,800 Eagle Ford Shale Reached Peak Production in 90 1,600 2015, Will Surpass this Volume in 2019 from 80 1,400 Production, MBOEPD Eagle Ford Shale & Kaybob Duvernay…
  8. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 8
    Lowering Cost & Growing Production in Kaybob Duvernay Net Production, MBOEPD EURs Exceeding Plan 14 Increased Rate of Feet per Day (ROP) by 56% Since 2016 12 10 Reduced Cost per Foot by 21% Since 2016 8 Targeting Drilling &…
  9. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 9
    Offshore Operations 4Q 17 Highlights Malaysia Gulf of Mexico 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, DTU Gas…
  10. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 10
    Gulf of Mexico Exploration Update Planning for Samurai (GC 432) Appraisal Finalized King Cake Farm-In (AT 23) Murphy Operator, Leverages Existing Infrastructure Murphy 31.5% WI, Operator Expected Spud 1Q 18 Expected Spud 3Q 18 15 Miles…
  11. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 11
    Offshore Mexico Exploration Update Block 10 Block 21 Mexico Deepwater Block 5 30.5 MM 110.2 MM Block 20 Murphy 30% WI, Operator, Partners 90.2 MM PETRONAS, Ophir & Sierra Oil & Gas Reviewing Newly Processed WAz Seismic, Confirms…
  12. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 12
    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…
  13. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 13
    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 by…
  14. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 14
    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…
  15. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 15
    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…
  16. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 16
    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 03-33 Move Kaybob West &…
  17. Credit Suisse 23rd Annual Energy Summit – 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. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 18
    Price 2018 2019 2020 2021 2022 Our Strategy in Action 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…
  19. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 19
    Takeaways Growing Production with Disciplined Capital Allocation Achieving High Cash Margins from Diverse, Oil-Weighted Portfolio Replenishing Exploration Portfolio with Measured Approach Focusing on Continued Cost Reductions…
  20. Credit Suisse 23rd Annual Energy Summit – Murphy Oil Corp – slide 20
    APPENDIX MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 21
  21. Credit Suisse 23rd Annual Energy Summit – 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. Credit Suisse 23rd Annual Energy Summit – 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. Credit Suisse 23rd Annual Energy Summit – 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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