UBS GLOBAL OIL AND GAS CONFERENCE MAY 22, 2019 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORAT ION www. m urphyoi l corp. com NYSE: MUR 0
Murphy at a Glance 2018 Proved Reserves 32% 57% 816 43% Liquids- 50% MMBOE Weighted 68% 7% Onshore Offshore Oil NGL Natural Gas NOTE: Includes 129 MMBOE from Malaysia; Excludes 66 MMBOE from LLOG Acquisition FY 18…
Deliberate Value-Adding Transformation 2016 2018 2019 Acquired Kaybob Transaction Acquired Duvernay & with Petrobras LLOG Placid Montney Gulf of Mexico 1.375 BN 206 MM 795 MM 2014 2015 2016 2017 2018 2019 Repositioning…
Transformation Through Strategic Acquisitions & Divestitures ASSETS DIVESTED ASSETS ACQUIRED Divested Malaysia Assets for 2.1 BN(1) Acquired Gulf of Mexico Assets for 2.3 BN Strategic Exit from Malaysia Simplifies MP Gulf of Mexico:…
Repositioning Murphys Portfolio Increasing Margins with Oil-Weighted, Gulf of Mexico Production & Reserves QUALITY SCALE UPSIDE GOM EBITDA / BOE vs Oil Reserves (2P) 2019E Production, MBOEPD 2019 2023 FCF vs Oil Reserves (2P) 37 67…
Focusing on Oil-Weighted Reserves & Lowering F&D Costs 2018 Proved Reserves Pre-Transactions Organic Reserves Replacement 166% Proved Oil Reserves 407 MMBOE Total Reserves Replacement 287% with Petrobras America Inc. Transaction…
Long History of Rewarding Shareholders Murphy Dividend as % of CF from Operations Returned 3.6 BN Cash Dividends to Shareholders, 40% 35% Since 1999 30% 25% Repurchased or Plan to Repurchase 1.6 BN of 20% Stock, Since 1999 15%…
Eagle Ford Shale Update 2019 Well Delivery Plan Operated Well Delivery 92 Wells Online FY 2019 13 Wells Online 1Q 9 Karnes 4 Upper EFS, 5 Lower EFS (2 Days in 1Q) 4 Tilden 4 Lower EFS 23 Wells Online 2Q 23 Karnes 14 Lower EFS, 3…
Significant Running Room in the Eagle Ford Shale Significant Development Across 125,000 Net Acres 500+ MMBOE Total Resource Potential, 1,800 Remaining Locations Conservative Inter-Well Spacing, Type Curves Account for Parent/Child…
Revitalizing Gulf of Mexico Portfolio Acquiring 26 Gulf of Mexico Blocks, 7 Producing Fields, 4 Development Projects Key US Gulf of Mexico Assets Post-Transaction Producing Assets Breton Sound 25 Asset Operator Murphy WI Neidermeyer…
Delivering Free Cash Flow From Gulf of Mexico Assets Efficient Capital Spending Driving Free 2019 2023 Estimated Gulf of Mexico Production Cash Flow 90 85 15 83 Generates 1.0 BN Annual Average EBITDA 80 Per Year 70 LLOG 14 Requires…
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 Team in Place Dalmatian…
Expanding Significant Fields at Khaleesi / Mormont Khaleesi / Mormont Overview US Gulf of Mexico Green Canyon Area Discovered 2017 Breton Sound 25 2P 165 MMBOE (Gross) 90% Liquids 100 MMBOE at Khaleesi Neidermeyer Otis Dalmatian VK…
Acquiring & Developing Low Cost Deepwater Tie-Backs Nearly Headless Nick Mississippi Canyon 387 US Gulf of Mexico Mississippi Canyon Area 3.5 Mile Subsea Tie-Back in to Existing Subsea Breton Sound 25 Manifold One Well Drilled First…
Exploration Strategy Overview Focused & Meaningful Exploration Core Focus Areas Four Primary Exploration Areas 3 to 5 Exploration Wells per Year 10% of Capital Budget 100 125 MM/Year Reduced Risk Proven Oil Provinces Targeting 20…
Offshore Mexico Discovery at Cholula Block 5 Overview Block 5 Prospects Increased Working Interest to 40% at Low Cost Alamos Murphy 40% (Op), Petronas 30%, DEA 30% 34 Leads / Prospects Morelia TzinTzunTzan Salvatierra Mean to…
Offshore Vietnam Discovery at LDT-1X Cuu Long Basin Overview Additional Near-Field Potential in Other Plays Murphy 40% (Op), PVEP 35%, SKI 25% 250 MMBOE Remaining Resource Potential on Block LDT-1X LDV Field LDT North Additional G…
LOOKING AHEAD MURPHY OIL CORPORAT ION www. m urphyoi l corp. com NYSE: MUR 18
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 NA Balancing Onshore /…
Positioning Company for Long-Term Value Creation Transforming Company Drives Further Profitable Oil-Weighted Growth Progressing Closing on Two Outstanding Deals Producing Oil-Weighted Assets that Realize Premium Pricing…
APPENDIX MURPHY OIL CORPORAT ION www. m urphyoi l corp. com NYSE: MUR 21
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…
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…
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…
Eagle Ford Shale Peer Acreage OIL Murphy EOG Lewis/BP ConocoPhillips CONDENSATE Marathon Pioneer EP Energy Pioneer Encana Carrizo GAS Chesapeake Sanchez MURPHY OIL CORPORAT ION www. m urphyoi l corp. com NYSE: MUR 30
Eagle Ford Shale Murphy Spacing vs Peers Karnes Typical Murphy Spacing LEFS 250-500 Murphy BP EOG Offset Spacing DVN Offset Spacing Chesapeake LEFS 250 to 500 LEFS 250 to 500 Conoco Devon COP Offset Spacing Encana LEFS 250 to…
Kaybob Duvernay Peer Acreage Volatile Oil KAYBOB EAST SHELL Gas Condensate PARAMOUNT ENCANA CENOVUS KAYBOB WEST SIMONETTE SAXON Fox Creek CHEVRON Wet Gas XTO PLACID REPSOL 6 Miles MURPHY OIL CORPORAT ION…
Tupper Montney Peer Acreage MURPHY OIL CORPORAT ION www. m urphyoi l corp. com NYSE: MUR 33
Placid Montney Peer Acreage Condensate Limit KAYBOB EAST CIOC PARAMOUNT RMP CNRL CENOVUS ENCANA KAYBOB WEST SIMONETTE Fox Creek SAXON CHEVRON DELPHI XTO PLACID Dry Gas Limit 6 Miles MURPHY OIL CORPORAT ION…
Repositioning Murphys Portfolio Footnote Details Increasing Margins with Oil-Weighted, Gulf of Mexico Production & Reserves (1) Assuming Estimated Midpoint of Full Year Production of LLOG Acquisition (2) Net Annualized Production…
UBS GLOBAL OIL & GAS CONFERENCE MAY 22, 2019 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORAT ION www. m urphyoi l corp. com NYSE: MUR 36
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