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2Q 2018 Earnings Conference Call – Murphy Oil Corp

Murphy Oil Corp · Aug 9, 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. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 1
    SECOND QUARTER 2018 EARNINGS CONFERENCE CALL & WEBCAST AUGUST 9, 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. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 2
    Delivering Our 2018 Plan Driving Robust Production Aligning Financial Priorities Building a Strong from Diversified Assets & Shareholder Value Portfolio for the Future 2Q 18 TotalDriving ProductionEBITDA 171 MBOEPD, Adjusted…
  3. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 3
    Executing Our Strategy in 2Q 2018 Returned to Offshore Exploration at Bottom of Cycle with Develop DIFFERENTIATED PERSPECTIVES In Successful Delineation & Discovery at Samurai-2 in Gulf of Mexico Underexplored Basins & Plays…
  4. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 4
    Generating Robust EBITDA Allocating 70% of Capital to High-Value Assets Eagle Ford Shale Kikeh DTU Gas Lift 1H 2018 EBITDA Dalmatian Subsea Pump Samurai Success Evaluation Realized Prices & Volumes Sold, 1H 2018 70 70 Eagle…
  5. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 5
    Updating Production & CAPEX Guidance Total CAPEX 1.25 2018 Annual CAPEX Guidance at 1.18 BN Onshore Increased Kaybob Duvernay 50 MM for Additional Wells & Infrastructure BN 1.00 1.18 1.11 Increased Tupper Montney 5 MM…
  6. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 6
    Maintaining Financial Discipline Adjustments to 2Q 18 Earnings Mark-to-Market Loss on Crude Oil Contracts 10 MM, After Tax Foreign Exchange Loss 7 MM, After Tax MM (Except per Share) 2Q 18 2Q 17 Balance Sheet Continuing Operations…
  7. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 7
    Expecting Cash Flow, CAPEX & Dividend Parity for FY 2018 1H 2018 Adversely Affected By: 35 MM One-Time Withholding Tax Payment on Funds Condensed Cash Flow Statement MM Repatriated from Canada Beginning Cash at December 31, 2017…
  8. 2Q 2018 Earnings Conference Call – 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. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 9
    Producing Consistent Results in the Eagle Ford Shale Atascosa Operated Well Delivery 45 Wells Online FY 2018 Karnes 26 Wells Online 2Q 18 vs Guide of 22 Wells 10-Well Pad in Karnes Avg IP30 1,750 BOEPD Tilden Karnes Co-Development…
  10. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 10
    Price (C) 2018 2019 2020 2021 2022 Delivering Low Cost Production in Tupper Montney Econ Basis 1.74 1.94 2.00 2.02 2.23 Operated Well Delivery 1H 2018 Avg Sale Price 5 Wells Online 2Q 18, Avg EUR 18 BCF 2Q 18 Successful AECO Price…
  11. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 11
    Growing the Kaybob Duvernay Operated Well Delivery Original Plan 17 Drill + 21 Complete + 23 Online Current Plan 25 Drill + 25 Complete + 27 Online Additional 50 MM CAPEX in 2018 for D&C + Infrastructure 03-33 Pad 4 Wells in Kaybob…
  12. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 12
    Continuing Strong Execution in the Kaybob Duvernay Kaybob Duvernay Net Production, MBOEPD Substantial Production Growth 8,000 Increased Kaybob Production 35% from 1Q 18 to 2Q 18, 108% Y-O-Y 6,000 Drilled Longer Laterals, Nearly…
  13. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 13
    Executing in Global Offshore Gulf of Mexico Malaysia Medusa SS 5 Well Online Sabah Kikeh DTU Gas Lift Project 95% Complete, Online 3Q 18 Beat 2Q 18 Production Guidance by 1,700 BOEPD Fields Outperformed Sarawak South Acis Mobilized…
  14. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 14
    Returning to Successful Exploration Gulf of Mexico Samurai Appraisal (GC432 2) Murphy 50% WI, Operator, BHP 50% WI Samurai-1 (MUR) 432 Pay in Multiple Miocene Horizons Spud 2Q 2018 Samurai-2 (MUR) Khaleesi (LLOG) Upper Miocene…
  15. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 15
    Gaining Momentum in Strategic Exploration GOM King Cake Prospect (AT23 1) GOM King Cake Murphy 31.5% WI, Operator Expected Spud 3Q 18 Medusa Gross Resource Potential 50 MMBOE (Mean) Mars Ursa to 100 MMBOE (Upside) Net Well Cost 22…
  16. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 16
    Positioning Company for Long-Term Value Creation Executing on the 2018 Plan Returning to Successful Offshore Exploration Driving Costs Lower in North American Onshore Funding Operational Success in Kaybob Duvernay & Offshore…
  17. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 17
    APPENDIX MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 18
  18. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 18
    Guidance 3Q 18 3Q 2018 3Q 2018 Guidance 3Q Liquids (BOPD) Gas (MCFD) 3Q Production: US Eagle Ford Shale 41,775 31,650 Gulf of Mexico 15,625 14,100 Canada Tupper Montney 234,500 Kaybob Duvernay & Placid Montney 7,200 32,000…
  19. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 19
    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 7/1/2018 12/31/2018 Volumes Area Commodity Type (MMCFD) Price (MCF) Start…
  20. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 20
    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…
  21. 2Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 21
    Long-Term Strategy Drives Profitable Growth Measured, Oil-Weighted Production Growth Value-Adding Production Growth Within Cash Flow 300 Plan Returns Over 800 MM to Shareholders 250 with Current Dividend Policy 200…
  22. 2Q 2018 Earnings Conference Call – 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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