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4Q 2018 Earnings Conference Call – Murphy Oil Corp

Murphy Oil Corp · Jan 31, 2019 · 26 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 2018 Earnings Conference Call – Murphy Oil Corp – slide 1
    FOURTH QUARTER 2018 EARNINGS CONFERENCE CALL & WEBCAST JANUARY 31, 2019 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 1
  2. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 2
    Delivering Our 2018 Plan Generating Aligning Executing Oil-Weighted Profitable Growth Financial Priorities with 2018 Plan & Increasing from Diversified Assets Generating Shareholder Value Low-Cost Resources 4Q 18 Total Production…
  3. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 3
    Accomplishing Our Strategic Objectives in 2018 Develop Continue to be a BALANCE our Offshore DEVELOP & PRODUCE ACHIEVE & MAINTAIN DIFFERENTIATED PREFERRED PARTNER Business by Acquiring & Fields in a Safe, a Sustainable, Diverse &…
  4. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 4
    Growing Oil-Weighted Production in 2018 FY 18 Production 4Q 18 Adjusted Production 41% Natural 53% Oil 176 MBOEPD, 61% Liquids, 53% Onshore, 47% Offshore Gas 16% 26% US Onshore 2018 Adjusted Production 171 Canada Onshore 171…
  5. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 5
    Increasing Reserves & Lowering F&D Costs in 2018 Increased Proved Reserves Maintaining High-Margin, Oil-Weighted Portfolio Organic Reserves Replacement 166% (Pre-Transaction) Total Reserves Replacement 287% (Post-Transaction) 1 Year…
  6. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 6
    Maintaining Financial Discipline Adjustments to 4Q 18 Earnings (After-Tax) Positive to Earnings Negative Adjustment Tax Impacts 30 MM Mark-to-Market Gain on Crude Oil Contracts 28 MM Negative to Earnings Positive Adjustment MM (Except…
  7. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 7
    Achieving Cash Flow, CAPEX & Dividend Parity for FY 2018 GAAP Cash Flow Adjusted Cash Flow Statement (MM) YE Dec 31 18 Other Than Deferred Tax Benefit, Largest Adjustment to Cash Provided by Continuing Operations 1,219.4 Cash Provided…
  8. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 8
    ONSHORE OFFSHORE PORTFOLIO UPDATE MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 9
  9. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 9
    Revitalizing Gulf of Mexico Portfolio MP GOM Transaction Highlights Gulf of Mexico Assets Immediately Accretive Cash Flow Generator Increased Gulf of Mexico Proved Reserves by 70 MMBOE Tahoe Increased Production 3x from 1Q to 4Q 2018…
  10. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 10
    Executing in Global Offshore Malaysia Gulf of Mexico Sabah Dalmatian Completed Kikeh DTU Gas Lift Project Pump Installation Completed, 96% Uptime Achieved 30 MMBBL Gross Production at Siakap North Currently Delivering Gross Production…
  11. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 11
    PORTFOLIO REVIEW EXPLORATION UPDATE MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 12
  12. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 12
    Focusing On Strategic Exploration Mexico Mexico Cholula Cholula Prospect (DW Block 5) Murphy 30% WI, Operator Upper & Lower Miocene Amplitude DW Block 5 Exploration Plan Approved Expected Spud 1Q 19 Gulf of Mexico Hoffe Park (MC…
  13. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 13
    ONSHORE PORTFOLIO UPDATE MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 14
  14. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 14
    Producing Consistent Results in the Eagle Ford Shale Operated Well Delivery 49 Wells Online FY 18 8 Wells Online 4Q 18 in Catarina Atascosa Karnes Avg IP30 860 BOEPD 6 Lower Eagle Ford Shale & 2 Upper Eagle Ford Shale Wells Tilden…
  15. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 15
    Delivering Low Cost Production in Tupper Montney Operated Well Delivery 5 Wells Online FY 18 Successful AECO Price Mitigation Realized 4Q 18 C2.86/MCF* vs AECO Realized Avg of C1.78/MCF Generated 2018 Free Cash Flow of 21.5 MM Realized…
  16. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 16
    Growing & De-Risking Kaybob Duvernay Operated Well Delivery 27 Wells Online FY 18 Kaybob North Kaybob East 129 Locations 5 Wells Online 4Q 18 187 Locations Acreage De-Risked with Exception of Two Creeks H Simonette 135 Locations F…
  17. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 17
    Continuing Strong Execution in the Kaybob Duvernay Simonette Cumulative Production Saxon & Kaybob West Cumulative Production Substantial Production Growth 160 & Continued Outperformance 140 01-12B 01-12 TC 300 16-03 Average 16-03…
  18. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 18
    ONSHORE LOOKING AHEAD MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 19
  19. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 19
    Streamlining Our Footprint 2013 & 2014 2019 13 Operating Countries, 13 Offices 8 Operating Countries, 6 Offices Office Exploration/Production Office Exploration/Production Onshore Unconventional, Heavy Oil & Oil Sands Assets…
  20. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 20
    2019 Capital Program 2019 Total CAPEX 2019 Annual Capex Guidance 1.25 1.45 BN 878 MM Allocated to NA Onshore Unconventional US Onshore 8% 1% 91% Allocated to Field Development & Development Drilling 9% Canada Onshore North America…
  21. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 21
    Reallocating Capital to Oil-Weighted Assets Allocating 60% to Eagle Ford Shale & NA Offshore Capital Spending Changes 2018 to 2019 600 Eagle Ford Shale 600 MM 40% Increase from 2018 500 470 MM for D&C & 130 MM for Field Development…
  22. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 22
    Positioning Company for Long-Term Value Creation Executing Our Strategy for Future Value Creation Generating Free Cash Flow with a Competitive Dividend Yield Increasing Oil-Weighted Portfolio Focusing on Strategic Exploration…
  23. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 23
    ONSHORE APPENDIX MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 24
  24. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 24
    Guidance 1Q 19 1Q 2019 1Q 2019 Guidance 1Q Liquids (BOPD) Gas (MCFD) 1Q Production: US Eagle Ford Shale 34,800 28,800 Gulf of Mexico 1 52,750 20,000 Canada Tupper Montney 220,000 Kaybob Duvernay & Placid Montney 8,400 34,800…
  25. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 25
    2019 Hedging Positions Volumes Area Commodity Type (MMCFD) Price (MCF) Start Date End Date Montney Natural Gas Fixed Price Forward Sales at AECO 59 C2.81 1/1/2019 12/31/2020 Montney Natural Gas Fixed Price Forward Sales at AECO 10…
  26. 4Q 2018 Earnings Conference Call – Murphy Oil Corp – slide 26
    Financial Position as of December 31, 2018 Note Maturity Profile 2,000 Maturity Profile* 2.8 BN Total Debt (Excluding Capital Lease) Total Bonds Outstanding BN 2.8 Weighted Avg Fixed Coupon 5.5% Total Liquidity 1.6 BN Weighted Avg…

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