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Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp

Murphy Oil Corp · Feb 13, 2019 · 27 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 24th Annual Energy Summit – Murphy Oil Corp – slide 1
    CREDIT SUISSE 24TH ANNUAL ENERGY SUMMIT FEBRUARY 13, 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. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 2
    Agenda 01 COMPANY UPDATE 02 PORTFOLIO UPDATE 03 EXPLORATION UPDATE 04 LOOKING AHEAD 05 TAKEAWAYS MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 3
  3. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 3
    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 FY 18 Production 171…
  4. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 4
    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) 3 Year…
  5. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 5
    Leading Consistent Reserve Additions 2010 to 2017 Revisions / Beginning Proved Reserves % - Annual Basis 40% 30% 20% 10% 0% -10% -20% -30% -40% MUR MUR A B C D E F G H I J K L M N 2010 2011 2012 2013 2014 2015 2016…
  6. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 6
    ONSHORE OFFSHORE PORTFOLIO UPDATE MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 7
  7. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 7
    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…
  8. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 8
    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…
  9. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 9
    PORTFOLIO REVIEW EXPLORATION UPDATE MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 10
  10. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 10
    Focusing On Strategic Exploration Mexico Gulf of Mexico Vietnam Cholula Prospect (DW Block 5) Hoffe Park (MC 165) Cuu Long Basin LDT Prospect (Block 15-1/05) Murphy 30% WI, Operator Murphy 50% WI, Operator Murphy 40% WI, Operator…
  11. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 11
    Leading Offshore Drilling Execution Gulf of Mexico Deep Water Drilling Days vs Total Depth Offshore Ability Competitive Advantage 0 0 50 100 150 200 250 300 350 400 Lowered Deep Water Drillship Crew 5000 19% vs 2015 Levels…
  12. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 12
    ONSHORE PORTFOLIO UPDATE MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 13
  13. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 13
    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…
  14. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 14
    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…
  15. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 15
    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…
  16. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 16
    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…
  17. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 17
    ONSHORE LOOKING AHEAD MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 18
  18. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 18
    How Are You Thinking About Capital Allocation 2018 2019 Generating Free Cash Flow After Dividend Generating Free Cash Flow After Dividend At Strip Growing Profitable Production Growth Generating Measured Profitable Growth Allocating…
  19. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 19
    2019 Capital Program 2019 Total CAPEX 2019 Annual Capex Guidance 1.25 1.45 BN US Onshore 878 MM Allocated to NA Onshore 8% 1% Unconventional 9% Canada Onshore Increasing Eagle Ford Shale Spend 38% 43% North America Offshore…
  20. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 20
    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 Drilling & Completions & 130 MM for…
  21. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 21
    Increasing Low Break-Even Locations for High Return Growth Over 50% Onshore Oil-Weighted Locations Break-Even < 40/BBL Eagle Ford Shale 50% of Remaining Locations with Break-Even of Tupper Montney 1,400+ Remaining Locations 40/BBL &…
  22. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 22
    Building High Return with Low-Cost Offshore Projects Maintaining Production at Existing Fields with Low-Cost Offshore Projects Low-Cost, Innovative Projects 100% 140 MM CAPEX in 2019 for Long-Term Offshore Projects with High IRRs 80%…
  23. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 23
    Positioning Company for Long-Term Value Creation Completing a Very Successful 2018 Net Income, TSR & Reserves Spending Within Our Means & Maintaining Strong Free Cash Flow Yield Generating Measured Profitable Growth Allocating…
  24. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 24
    ONSHORE APPENDIX MURPHY OIL CORPORATION www.m ur p h yo i lc o r p.c om NYSE: MUR 25
  25. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 25
    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…
  26. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 26
    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…
  27. Credit Suisse 24th Annual Energy Summit – Murphy Oil Corp – slide 27
    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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