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2Q 2019 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · Aug 8, 2019 · 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. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 1
    2019 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 8, 2019 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www. m u r p h yo i l c o r p . c o m August 8, 2019 N YS E : MU R 0
  2. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 2
    Executing Our 2019 Plan PRODUCING GENERATING INCREASING TRANSFORMING BUILDING Oil-Weighted High Margin Financial with Accretive Profitable Assets Realizations Strength Acquisitions Production 159 MBOEPD, 60% Oil 94% oil volumes…
  3. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 3
    2Q 2019 Financial Results 2Q 2019 Results from Continuing Operations 2Q 2019 (MM Except Per Share) Net income 92 MM Net Income Attributable to Murphy Adjusted net income 36 MM Income (loss) 92.3 /Diluted share 0.54 2Q 2019 Accounting…
  4. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 4
    Maintaining Financial Discipline Cash Flow from Continuing Operations 2Q 2019 Cash Flow Cash flow exceeded property additions and Attributable to Murphy (MM) 2Q YTD dry hole costs by 60 MM Net cash provided by continuing 438.2 655.4…
  5. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 5
    Achieving Premium Oil-Weighted Realizations 94,000 BBLS/Day SOLD 94 %SOLD At Premium to 59.82 WTI Sales Volumes & Differentials Eagle Ford North America 2Q 2019 Total Company Shale Offshore Other 6% Mars LLS 26% 64 63…
  6. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 6
    Production Update Outperforming in 2Q 2019 2Q 2019 Production 2Q 2019 Production 159 MBOEPD, 67% Liquids by Area Onshore Canada 96,000 BBLs/day oil production 31% 48,500 BOEPD Exceeded 2Q guidance by 5,500 BOEPD Offshore Gulf of…
  7. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 7
    Long History of Benefitting Shareholders Free Cash Flow Yield 2016 - 2019E 6.3 Billion 5% 0% Returned to Shareholders -5% -5% -5% -5% -5% Since 1961 Note: FCF Yield = CFO Less Property Additions & Dry Hole Costs Divided…
  8. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 8
    Onshore Portfolio Update www. m u r p h yo i l c o r p . c o m August 8, 2019 N YS E : MU R 8
  9. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 9
    Eagle Ford Shale Well Delivery Update Eagle Ford Shale Acreage 2019 Well Delivery Plan KARNES 91 wells online Atascosa 2Q 2019 44 MBOEPD, 74% Oil, 88% Liquids Karnes La Salle 23% increase in volumes from 1Q 2019 Dimmit TILDEN 35…
  10. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 10
    Eagle Ford Shale 2Q 2019 New Well Performance 23 Karnes Wells Online Karnes Lower EFS Wells Online 2Q 2019 120,000 Exceeded average type curve in Lower and Upper EFS Gross Cum 2- Stream BOE 100,000 Avg IP30 925 BOEPD Austin…
  11. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 11
    Canada Onshore Kaybob Duvernay Update 2019 Well Delivery Plan Complete 10 wells online Kaybob Duvernay Acreage 2Q 2019 9,300 BOEPD, 61% liquids Kaybob North 25% increase in volumes from 2Q 2018 Kaybob East B Two Creeks 6 wells…
  12. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 12
    Canada Onshore Tupper Montney Update 2019 Well Delivery Plan Complete Successful AECO Price Mitigation 8 wells online Realized 2Q 2019 C1.82/MCF* vs AECO realized average of C1.03/MCF 2Q 2019 37 MBOEPD, 100% Natural Gas Projected FY…
  13. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 13
    Offshore Portfolio Update www. m u r p h yo i l c o r p . c o m August 8, 2019 N YS E : MU R 13
  14. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 14
    Gulf of Mexico Operations Update 2Q 2019 Production 58 MBOEPD, Gulf of Mexico Assets 90% Liquids Closed Gulf of Mexico acquisition Neidermeyer Dalmatian Otis Exceeded production guidance from new VK DD Marmalard assets by 1,200…
  15. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 15
    Gulf of Mexico Kings Quay Delivers Low-Risk Cash Flows Green Canyon Area Kings Quay Floating Production System (FPS) In service 1H 2022 343 344 345 346 347 348 50% working interest Khaleesi 387 388 389 4 Wells 390 391 392…
  16. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 16
    Gulf of Mexico Investing in Long Term High-Margin Projects Khaleesi/Mormont 30% IRR Gross resource 165 MMBOE, 90% Liquids Development Timeline 7 development wells planned 4 previously drilled 2019 2020 2021 2022 Samurai 35% IRR…
  17. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 17
    Gulf of Mexico Short Cycle Capital Projects Deliver Accelerated Returns Gulf of Mexico Short Cycle Projects Development Timeline Completions New Wells & Tie-Backs Workovers 2019 2020 Dalmatian DC4 2 Nearly Headless Nick Cottonwood…
  18. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 18
    Looking Ahead www. m u r p h yo i l c o r p . c o m August 8, 2019 N YS E : MU R 18
  19. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 19
    Production & CAPEX Guidance 192 - 196 MBOEPD 2019 CAPEX Production Allocated to New Gulf of Mexico Assets 3Q 2019 Short-Term Tie-Back Projects 174 - 178 MBOEPD 20% Production Kings Quay Facility FY 2019 140 MM 2019…
  20. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 20
    Positioning Company for Long-Term Value Creation TRANSFORMING PRODUCING RAMPING Portfolio by adding oil-weighted, Oil-weighted assets that Eagle Ford Shale production high-margin assets realize premium pricing EXECUTING…
  21. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 21
    Appendix www. m u r p h yo i l c o r p . c o m August 8, 2019 N YS E : MU R 21
  22. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 22
    3Q 2019 Guidance Liquids Gas Total Producing Asset (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 45,700 33,900 51,300 Gulf of Mexico excluding NCI1 67,300 69,400 78,900 Gulf of Mexico including NCI 78,200 74,100 90,500 Canada Tupper…
  23. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 23
    2019 Hedging Positions United States Volumes Price Commodity Type (BBL/D) (BBL) Start Date End Date WTI Fixed Price Derivative Swap 20,000 63.64 7/1/2019 7/31/2019 WTI Fixed Price Derivative Swap 23,000 63.17 8/1/2019 12/31/2019…
  24. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 24
    Current Financial Position As of July 31, 2019 2.8 BN total debt, excluding capital leases Note Maturity Profile MM Total liquidity 2.0 BN 2,000 Approximately 450 MM of cash and cash equivalents Undrawn 1.6 BN unsecured senior…
  25. 2Q 2019 Earnings Presentation – Murphy Oil Corp – slide 25
    Environmental, Social and Governance 50% 0.32 0 75% GHG Emissions IOGP Recordable ISS Governance & Intensity Average TRIR Spills Score following 2018-19 A&D activity over past 4 years YTD 2019 vs peer average SOCIAL…

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