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1Q 2019 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · May 2, 2019 · 28 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 2019 Earnings Presentation – Murphy Oil Corp – slide 1
    FIRST QUARTER 2019 EARNINGS CONFERENCE CALL & WEBCAST MAY 2, 2019 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M U R 1
  2. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 2
    Executing Our 2019 Plan Producing Aligning Transforming Oil-Weighted Assets that Financial Strategy with Company with Accretive Generate High-Margin Shareholder Priorities to Acquisitions & Oil-Weighted Realizations Unlock…
  3. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 3
    Transformation Through Strategic Acquisitions & Divestitures Divested Malaysia Assets For 2.1 BN1 Acquired Gulf of Mexico Assets for 2.3 BN Strategic Exit from Malaysia Simplifies Portfolio MP GOM: 961 MM2 LLOG: 1.375 BN Gas-Weighted…
  4. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 4
    Continuing to Execute on Our Strategy in 2019 Strengthened Gulf of Mexico Portfolio at Attractive Acquisition Costs Develop DIFFERENTIATED PERSPECTIVES In Acquired Repeatable Low-Cost Tiebacks Underexplored Basins & Plays Drilled…
  5. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 5
    Production & CAPEX Update 1Q 19 Production 148 MBOEPD, 66% Liquids 1Q Production Guidance vs Actual Initial 1Q 19 Guidance 198 202 MBOEPD 1Q 19 Guidance Revised to 154,700 MBOEPD 45,800 BOEPD Guidance Allocated to Malaysia 1Q 19…
  6. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 6
    1Q Financial Results 1Q Results Net Income Attributable to Murphy of 40 MM MM Except Per Share 1Q 2019 Adjusted Income of 26.5 MM Eliminating Discontinued Ops Net Income Attributable to Murphy Income (Loss) 40.2 1Q Subject to Numerous…
  7. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 7
    Maintaining Financial Discipline Cash Flow Statement MM 1Q 2019 Cash Flow from Continuing Operations Over 45 MM Cash Flow Attributable to Murphy Higher than Cash Capital Expenditures When Adjusting Net Cash Provided By Continuing for…
  8. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 8
    ONSHORE PORTFOLIO UPDATE MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M U R 9
  9. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 9
    Eagle Ford Shale Update 92 Operated Wells Online FY 2019 Eagle Ford Shale 13 Wells Online 1Q 9 Karnes 4 Upper EFS, 5 Lower EFS 4 Tilden 4 Lower EFS 23 Wells Online 2Q 23 Karnes 14 Lower EFS, 3 Upper EFS, 6 AC 35 Wells Online 3Q…
  10. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 10
    Karnes Well Performance Recent Online Karnes Wells Karnes Development Acreage Conservative Inter-Well Spacing Co-Development of Upper & Lower Eagle Ford Shale Wells 5 Lower EFS Wells Estimated IP30 Rate 2,100 BOEPD 315 Inter-Well…
  11. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 11
    Delivering Low Cost Production in Tupper Montney Operated Well Delivery 8 Wells Online 2019 Successful AECO Price Mitigation 3 Wells Online 1Q 19 Realized 1Q 19 C2.98/MCF* vs AECO Realized Avg of C2.62/MCF Completed Drilling &…
  12. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 12
    Kaybob Duvernay Update Retention Plan in 2019 Kaybob Duvernay 60% CAPEX Applies to Full Field Development Kaybob North Kaybob East 129 Locations 2019 Well Delivery Plan 187 Locations B 7 Wells Online vs. Previous Plan of 12 Wells…
  13. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 13
    OFFSHORE MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M U R 14
  14. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 14
    Revitalizing Gulf of Mexico Portfolio Acquiring 26 Gulf of Mexico Blocks, 7 Producing Fields, 4 Development Projects Murphys Key US Gulf of Mexico Assets Post-Transaction Producing Assets Breton Sound 25 Asset Operator Murphy WI…
  15. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 15
    Executing in Global Offshore Gulf of Mexico Vietnam Obtained Regulatory Approval to Operate Assets Acquired from Block 15-01/05 Petrobras America Inc. Progressing LDV Field Development Plan, LDV Development Dalmatian Team in Place 1…
  16. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 16
    PORTFOLIO REVIEW EXPLORATION UPDATE MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M U R 17
  17. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 17
    Offshore Mexico Discovery at Cholula Cholula Highlights Block 5 Prospects 12 MM Net Drilling Costs Drilled to Total Depth (TD) of 8,825 ft Alamos Morelia Salvatierra Discovered 185 Net Hydrocarbon Pay TzinTzunTzan Validates Block…
  18. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 18
    Offshore Vietnam Discovery at LDT-1X Cuu Long Basin LDT-1X Exploration Well Additional Near-Field 13 MM Net Drilling Costs Potential in Other Plays Drilled to Total Depth (TD) of 14,100 ft LDT-1X LDT North 62 ft of Net Pay in…
  19. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 19
    US Gulf of Mexico Exploration Update Hoffe Park Prospect Hoffe Park MC 122 Hoffe Park 2 Murphy 60% WI, Operator Niedermeyer Field 7 Miles Hoffe Park 1 Middle Miocene Expected Spud 3Q 19 Miocene Gross Resource Potential 75 MMBOE to…
  20. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 20
    ONSHORE LOOKING AHEAD MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M U R 21
  21. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 21
    Unlocking Value With Multiple Transactions Accretive Transactions with Attractive Valuation Metrics Acquiring Assets at Lower EBITDA & Free Cash Flow Multiples Divestiture Proceeds Acquisitions Cost Than Malaysia Divestiture 2.3 BN…
  22. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 22
    Streamlining Our Footprint 2013 & 2014 2019 13 Operating Countries, 13 Offices 7 Operating Countries, 5 Offices Office Exploration/Production Office Exploration/Production Onshore Unconventional, Heavy Oil & Oil Sands Assets…
  23. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 23
    Long-Term Strategy For Cash Flow Generation & Production Growth Providing Solid Five-Year Production Growth 2018A 2023E Production Growth Total Production CAGR 8% 250 SE Asia Oil Production CAGR 12% Other US Balancing Onshore /…
  24. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 24
    Positioning Company for Long-Term Value Creation Producing Oil-Weighted Assets that Realize Premium Pricing Transforming Company Drives Further Profitable Oil-Weighted Growth Progressing Closing on Two Outstanding Deals Ramping…
  25. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 25
    ONSHORE APPENDIX MURPHY OIL CORPORATION w w w .m u rphyoi l corp.com N YSE: M U R 26
  26. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 26
    Guidance 2Q 19 2Q 2019 2Q 2019 2Q 2019 Guidance 2Q Liquids (BOPD) Gas (MCFD) Total (BOEPD) 1Q Production: US Eagle Ford Shale 38,800 35,000 44,600 Gulf of Mexico 1 44,700 19,300 47,900 Canada Tupper Montney 206,700 34,500 Kaybob…
  27. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 27
    2019 Hedging Positions Volumes Area Commodity Type (BBL/D) Price (BBL) Start Date End Date US WTI Fixed Price Derivative Swap 20,000 63.64 5/1/2019 12/31/2019 US WTI Fixed Price Derivative Swap 20,000 60.10 1/1/2020 12/31/2020…
  28. 1Q 2019 Earnings Presentation – Murphy Oil Corp – slide 28
    Financial Position as of March 31, 2019 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 1.4 BN 1,500 Weighted…

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