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1Q 2018 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · May 3, 2018 · 22 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. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 1
    FIRST QUARTER 2018 EARNINGS CONFERENCE CALL & WEBCAST MAY 3, 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. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 2
    1Q 18 Overview Achieving High-Margin Returning Cash to Generating Strong Returns & Production from Shareholders & Building Maintaining Healthy Liquidity Diversified Assets Long-Term Portfolio 1Q 18 Total Production 168 MBOEPD,…
  3. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 3
    Diversified Portfolio Drives High Cash Margins 1Q 2018 Sales Basis Price Premium Oil Margins Widening to WTI 42% 52% Oil Brent/MCO 85 Natural (Malaysian Crude Oil)* Gas 24% LLS* 80 31% WTI 75 Oil-Indexed Gas 11% 31% 70…
  4. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 4
    Production & CAPEX Guidance Update Total CAPEX 1.15 2018 Production Guidance 2Q 18 Guidance 166 169 MBOEPD 1.10 FY 18 Guidance 167 170 MBOEPD, 60% Liquids BN 2018 Annual CAPEX Guidance at 1.11 BN 1.05 1.11 Onshore 1.06…
  5. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 5
    1Q 18 Financial Overview Adjustments to 1Q 18 Earnings Impact of 2017 Tax Cuts & Jobs Act 120 MM Foreign Exchange Gains 12 MM 1Q 1Q Mark-to-Market Loss on Crude Oil Contract 11 MM MM (Except per Share) 2018 2017 Continuing Operations…
  6. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 6
    1Q 18 Financial Details Operating Expenses (OPEX) 1Q 18 9.07/BOE 0.70/BOE Higher Due to Workover Expenses at Kodiak 0.42/BOE Higher Due to Offset Frac Impacts at Eagle Ford Shale Impacted by Additional Sand & Water Disposal Costs as…
  7. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 7
    PORTFOLIO REVIEW MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 8
  8. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 8
    Eagle Ford Shale 1Q 18 Highlights Operated Well Delivery 45 Wells Online FY 18, Increase from Prior Guidance of 38 Wells Atascosa 6 Tilden Wells Online 1Q 18 Avg IP30 775 BOEPD Karnes 22 Wells Online 2Q 18 10 Well Pad in Karnes, 10…
  9. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 9
    Tupper Montney 1Q 18 Highlights Henry Hub Dry Natural Gas Break-Even Prices, /MCF Top Tier North American Dry Natural Gas Play 6.00 Recent Activity 5.00 Drilled Remaining 3 of 5 Wells at 14-01 Pad, 3 Upper Montney, 2 Middle…
  10. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 10
    Kaybob Duvernay 1Q 18 Highlights Increased Kaybob Production 92% from 1Q 17 to 1Q 18 Drilling Pacesetter Wells 1Q 18 Drilling Cost per Foot 110 1Q 18 /CLAT 600 Appraisal Wells Update Online 1Q 18 01-12 Pad (1 Well) Oil, IP30 900 BOEPD,…
  11. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 11
    Kaybob Duvernay 2018 Well Delivery Plan Maintained 2018 Appraisal & Development Plan Kaybob North Kaybob East 150 Locations Maintained Budget & Contingent Well 295 Locations 20% De-Risked Counts 40% De-Risked Budget: Drill 17…
  12. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 12
    Offshore Operations 1Q 18 Highlights Malaysia Gulf of Mexico Sabah Operated Kikeh DTU Gas Lift Project 80% Complete, Online Medusa Subsea Well Workover Complete 3Q 18 Clipper Comingled Wells Outperforming, Current Kakap 155 MBOPD 1Q…
  13. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 13
    1Q 18 Exploration Update GOM Deepwater Samurai (GC 432) Murphy 50% WI, Operator Spud Appraisal Well 2Q 18, Net Well Cost 30 MM Mean Gross Resource Potential 75 MMBOE, Gross Resource Upside Potential 200 MMBOE GOM Deepwater New…
  14. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 14
    2Q 4Q 18 Exploration Plan GOM King Cake Prospect (AT 23) Mexico Palenque Prospect (Deepwater Block 5) Murphy 31.5% WI, Operator Murphy 30% WI, Operator, Partners PETRONAS, Expected Spud 3Q 18 Ophir & Sierra Oil & Gas Mean Gross…
  15. 1Q 2018 Earnings Presentation – 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. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 16
    Our Strategy in Action Drives EBITDA Growth Long-Term Production & EBITDA Measured, Oil-Weighted Production Growth 300 3,000 Within Cash Flow while Delivering Value to Shareholders, Consistent Dividend Policy & Free Cash Flow…
  17. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 17
    Takeaways Executing on the 2018 Plan Achieving High Cash Margins from Diverse, Oil-Weighted Portfolio Focusing on Cost Structure Implementing New Exploration Strategy Continuing to Return Cash to Shareholders with Current…
  18. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 18
    APPENDIX MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 19
  19. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 19
    Guidance 2Q 2018 2Q 2018 2Q 2018 Guidance 2Q Liquids (BOPD) Gas (MCFD) 2Q Production: US Eagle Ford Shale 38,600 31,000 Gulf of Mexico 15,350 12,600 Canada Tupper Montney 233,800 Kaybob Duvernay & Placid Montney 5,500 23,500…
  20. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 20
    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 4/1/2018 12/31/2018 Volumes Area Commodity Type (MMCFD) Price (MCF) Start…
  21. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 21
    Asset Overview At December 31, 2017 Crude Oil NGLs Natural Gas Total Proved Developed Reserves: (Millions of Barrels) (Billions of Cubic Feet) (Millions of Barrels Equivalent) United States 126.3 23.3 127.7 170.9 Canada 21.9 1.0 547.0…
  22. 1Q 2018 Earnings Presentation – Murphy Oil Corp – slide 22
    NA Onshore Running Room Spacing Inter-Well Spacing Area Net Acres PDP Wells Reservoir Remaining Wells Total Well Count* (Acres) (ft) NA Onshore Total 413,156 1,222 5,176 6,398 Lower EFS 60 40 350 Karnes 10,918 274 Upper EFS 158 80…

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