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3Q 2018 Earnings – Murphy Oil Corp

Murphy Oil Corp · Nov 8, 2018 · 25 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. 3Q 2018 Earnings – Murphy Oil Corp – slide 1
    THIRD QUARTER 2018 EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 8, 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. 3Q 2018 Earnings – Murphy Oil Corp – slide 2
    Delivering Our 2018 Plan Driving Robust Production Aligning Financial Priorities Executing 2018 Plan from Diversified Assets & Shareholder Value While Lowering Costs 3Q 18 Total Production 169 MBOEPD, Generated Net Income of 94…
  3. 3Q 2018 Earnings – Murphy Oil Corp – slide 3
    Executing Accretive Joint Venture Closing Progressing to Plan Production Volumes to Plan Murphy Exploration & New Gulf of Mexico Joint Venture Company Production Company USA Murphy Producing Assets from Murphy Exploration &…
  4. 3Q 2018 Earnings – Murphy Oil Corp – slide 4
    Achieving Our Strategy in 2018 Executed Successful Offshore Projects Dalmatian Subsea Pump Develop DIFFERENTIATED PERSPECTIVES In & Kikeh Gas Lift Underexplored Basins & Plays Drilled Successful Samurai-2 Sidetrack Proving Connectivity,…
  5. 3Q 2018 Earnings – Murphy Oil Corp – slide 5
    Generating Robust EBITDA 9 Months 2018 EBITDA 50 40 /BOE 30 9 Months 2018 Sales Basis Price 20 Natural Oil 52% Gas 42% 10 Brent/MCO* 21% 32% 0 LLS* Eagle Ford Shale Malaysia US & Canada Offshore 168 WTI MBOEPD…
  6. 3Q 2018 Earnings – Murphy Oil Corp – slide 6
    Reaffirming Production & CAPEX Guidance Total CAPEX 1.25 2018 Annual CAPEX Guidance Maintained at 1.18 BN 2018 Production Guidance (Excluding GOM JV) 4Q 18 Guidance 167 169 MBOEPD BN 1.00 1.18 1.18 FY 18 Guidance to 168.5…
  7. 3Q 2018 Earnings – Murphy Oil Corp – slide 7
    Maintaining Financial Discipline Adjustments to 3Q 18 Earnings (After-Tax) Positive to Earnings (Negative Adjustment) Mark-to-Market Gain on Crude Oil Contracts 21 MM Ecuador Arbitration Settlement Gain 21 MM Net Prior Period…
  8. 3Q 2018 Earnings – Murphy Oil Corp – slide 8
    Leading Peers in Generating Free Cash Flow Peer Free Cash Flow Yield 9 Months 2018 Annualized Delivering Free Cash Flow 4% 1 of Only 2 Companies in Proxy Peer Group to Deliver FCF in Each Quarter of 2% 2018 MUR 0% Leading Peers…
  9. 3Q 2018 Earnings – Murphy Oil Corp – slide 9
    PORTFOLIO UPDATE MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 10
  10. 3Q 2018 Earnings – Murphy Oil Corp – slide 10
    Executing in Global Offshore Malaysia Vietnam Gulf of Mexico Sabah Kikeh Block 15-01/05 Dalmatian Completed DTU Gas Lift Project Progressing LDV Field Development Plan, Pump Installation, Online Oct 2018 Achieved Kikeh FPSO Milestone…
  11. 3Q 2018 Earnings – Murphy Oil Corp – slide 11
    Producing Consistent Results in the Eagle Ford Shale Operated Well Delivery 45 Wells Online FY 2018 9 Wells Online 3Q 18 in Catarina Atascosa Avg IP30 820 BOEPD Karnes 7 Lower Eagle Ford Shale & 2 Upper Eagle Ford Shale Wells 4…
  12. 3Q 2018 Earnings – Murphy Oil Corp – slide 12
    Delivering Low Cost Production in Tupper Montney Operated Well Delivery 5 Wells Online FY 2018 Successful AECO Price Mitigation Gas Plants Operating at Full Capacity Realized 3Q 18 C2.25/MCF* vs AECO Realized Avg of C1.40/MCF…
  13. 3Q 2018 Earnings – Murphy Oil Corp – slide 13
    Growing & De-Risking Kaybob Duvernay Operated Well Delivery 27 Wells Online FY 2018 Kaybob East Kaybob North 5 Wells Online 4Q 18 150 Locations 295 Locations 100% De-Risked 100% De-Risked Acreage De-Risked with Exception of Two…
  14. 3Q 2018 Earnings – Murphy Oil Corp – slide 14
    Continuing Strong Execution in the Kaybob Duvernay Simonette Cumulative Production Saxon & Kaybob West Cumulative Production Substantial Production Growth 160 300 01-12B 16-03 Average & Continued Outperformance 140 01-12 TC 250 16-03…
  15. 3Q 2018 Earnings – Murphy Oil Corp – slide 15
    EXPLORATION UPDATE MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 16
  16. 3Q 2018 Earnings – Murphy Oil Corp – slide 16
    Returning to Successful Exploration Gulf of Mexico Samurai A Samurai 1 Samurai 2 B Sidetrack (GC476) 432 Samurai-1 (MUR) Murphy 50% WI, Operator, 7,000 ft Pay in Multiple Miocene Horizons Khaleesi (LLOG) BHP 50% WI Samurai-2 (MUR)…
  17. 3Q 2018 Earnings – Murphy Oil Corp – slide 17
    Drilling King Cake Prospect Spud King Cake (AT 23 1) Exploration Murphy 31.5% WI, Operator Spud 4Q 18 Medusa Mean Gross Resource Potential 50 MMBOE, Gross Ursa (Shell) Resource Upside Potential 100 MMBOE 430 MMBO, 600 BCF…
  18. 3Q 2018 Earnings – Murphy Oil Corp – slide 18
    Gaining Momentum in Strategic Exploration Mexico Cholula* Prospect Mexico Cholula Vietnam LDT (DW Block 5) Murphy 30% WI, Operator Vietnam Exploration Plan Approved Block 15-1/05 Expected Spud 1Q 19 Gross Resource Potential 200…
  19. 3Q 2018 Earnings – Murphy Oil Corp – slide 19
    Positioning Company for Long-Term Value Creation Executing on the 2018 Plan Generating Free Cash Flow with a Competitive Dividend Yield Forming a Joint Venture that Delivers Immediate Returns Achieving Successful Offshore…
  20. 3Q 2018 Earnings – Murphy Oil Corp – slide 20
    APPENDIX MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 21
  21. 3Q 2018 Earnings – Murphy Oil Corp – slide 21
    Guidance 4Q 18 4Q 2018 4Q 2018 Guidance 4Q Liquids (BOPD) Gas (MCFD) 4Q Production: US Eagle Ford Shale 36,000 29,100 Gulf of Mexico 18,500 14,300 Canada Tupper Montney 230,400 Kaybob Duvernay & Placid Montney 8,500 37,600…
  22. 3Q 2018 Earnings – 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 10/1/2018 12/31/2018 Volumes Area Commodity Type (MMCFD) Price (MCF) Start…
  23. 3Q 2018 Earnings – Murphy Oil Corp – slide 23
    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…
  24. 3Q 2018 Earnings – Murphy Oil Corp – slide 24
    Financial Position as of September 30, 2018 Note Maturity Profile 1,500 Maturity Profile* 2.8 BN Total Debt (Excluding Capital Lease) Total Bonds Outstanding BN 2.8 Total Liquidity 2.0 BN Weighted Avg Fixed Coupon 5.5% Weighted…
  25. 3Q 2018 Earnings – Murphy Oil Corp – slide 25
    NA Onshore Running Room Remaining Spacing Inter-Well Spacing Total Well Area Net Acres PDP Wells Reservoir Wells (Acres) (ft) Count* NA Onshore Total 382,538 1,213 4,414 5,627 Lower EFS 60 40 350 Karnes 10,918 274 Upper EFS 158 80…

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