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3Q 2019 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · Oct 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. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 1
    2019 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST OCTOBER 31, 2019 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www. m u r p h yo i l c o r p . c o m October 31, 2019 N YS E : MU R 0
  2. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 2
    Executing Our 2019 Plan PRODUCING GENERATING INCREASING TRANSFORMING BUILDING Oil-Weighted High Margin Capital Returns Portfolio for Profitable Assets Realizations to Shareholders Future Value Production Produced 192 MBOEPD, 94%…
  3. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 3
    3Q 2019 Financial Results 3Q 2019 Results 3Q 2019 (MM Except Per Share) Net income 1.1 BN Net Income Attributable to Murphy Adjusted net income 57 MM Income (loss) 1,089 3Q 2019 Accounting Adjustments /Diluted share 6.76 Malaysia,…
  4. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 4
    Maintaining Financial Discipline 3Q 2019 Cash Flow from Cash Flow Attributable to Murphy (MM) 3Q 2019 YTD 2019 Continuing Operations Net cash provided by continuing operations 498 1,153 Cash flow exceeded property additions Property…
  5. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 5
    Achieving Premium Oil-Weighted Realizations 112,000 94 BBLS/Day %SOLD At Premium SOLD 3Q 2019 to 56.45 WTI Sales Volumes & Differentials 3Q 2019 Total Company Eagle Ford North America Shale Offshore Other 32% Mars Brent…
  6. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 6
    Maintaining Production and Capex Guidance 3Q 2019 Production Update 3Q 2019 Production 3Q 2019 Production 192 MBOEPD, 66% Liquids by Area Onshore Canada 112,000 BOPD oil production 30% 58,000 BOEPD Canada offshore (2,600) BOEPD…
  7. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 7
    Long History of Benefitting Shareholders Free Cash Flow MM 2019E Disciplined and Flexible Strategy 500 Returned 6.5 BN cash since 1961 0 Returned 3.9 BN cash since 2012 -500 620 MM YTD 2019 -1,000 Repurchased 1.8 BN shares since…
  8. 3Q 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 October 31, 2019 N YS E : MU R 8
  9. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 9
    Eagle Ford Shale Well Delivery Update 2019 Well Delivery Plan Eagle Ford Shale Acreage 91 wells online Wilson KARNES Atascosa 3Q 2019 51 MBOEPD, 80% Oil, 91% Liquids Karnes Frio 15% increase in volumes from 2Q 2019 Zavala TILDEN…
  10. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 10
    Eagle Ford Shale Well Outperformance in Tilden and Catarina Tilden 10 Tyler Ranch Wells Online Tilden New Well Performance Cum MBOE 10 Lower EFS wells with avg 7,100 lateral 80 500 well spacing 60 Average IP30 of 1,300 BOEPD 40…
  11. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 11
    Canada Onshore Kaybob Duvernay & Tupper Montney Update 2019 Well Delivery Plan Complete Strong Results in Kaybob Duvernay 10 wells online in Kaybob Duvernay Recent well performance mirrors Tilden Lower EFS 8 wells online in Tupper…
  12. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 12
    Offshore Portfolio Update www. m u r p h yo i l c o r p . c o m October 31, 2019 N YS E : MU R 12
  13. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 13
    Gulf of Mexico 3Q 2019 Update 3Q 2019 Production 78 MBOEPD, 85% Liquids Gulf of Mexico Assets Operated production exceeded guidance LOUISIANA Dalmatian DC4 2 Well Neidermeyer Dalmatian VK DD Well drilled and completed, online 3Q…
  14. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 14
    Gulf of Mexico Project Execution Update Short Term Project Update Short Term Projects Working through planning and engineering Planning & Drilling & 3 tie-back projects Project Engineering Completions Subsea Tie-In First Oil Dalmatian…
  15. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 15
    Exploration Update www. m u r p h yo i l c o r p . c o m October 31, 2019 N YS E : MU R 15
  16. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 16
    Exploration Update Increasing Position in Sergipe-Alagoas Basin, Brazil Asset Overview Sergipe-Alagoas Basin Murphy 20%, ExxonMobil 50% (Op), Enauta Energia S.A. 30% BRAZIL Hold WI in 6 blocks, spanning 1.1 MM acres 1.2 BN BOE…
  17. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 17
    Exploration Update Entering Potiguar Basin, Brazil Asset Overview Potiguar Basin Murphy 30% WI, Wintershall Dea 70% (Op) Murphy WI Block Other Block Farm-in agreement to 3 blocks signed 3Q 2019 Discovered Field Blocks POT-W-857,…
  18. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 18
    Vietnam Update Cuu Long Basin, Vietnam Asset Overview Cuu Long Basin Murphy 40% (Op), PVEP 35%, SKI 25% VIETNAM 400 MMBOE remaining resource potential on initial block (15-1/05) Block 15-1/05 Lac Da Vang (LDV) Field Received Prime…
  19. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 19
    Takeaways www. m u r p h yo i l c o r p . c o m October 31, 2019 N YS E : MU R 19
  20. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 20
    Executing 2019 Goals POST-MALAYSIA TARGETS ACHIEVING GOALS 300 500 ACCOMPLISHING Completed SHARE Oct. 2019 REPURCHASE MILLION MILLION 200 MBOEPD DELIVERING 4Q 2019 PRODUCTION RATE 202 MBOEPD On Track 4Q 2019 68%…
  21. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 21
    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…
  22. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 22
    Appendix www. m u r p h yo i l c o r p . c o m October 31, 2019 N YS E : MU R 22
  23. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 23
    4Q 2019 Guidance Liquids Gas Total Producing Asset (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 48,300 31,300 53,500 Gulf of Mexico excluding NCI1 72,700 73,600 85,000 Gulf of Mexico including NCI 84,800 78,700 98,000 Canada Tupper…
  24. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 24
    2019 Hedging Positions United States Volumes Price Commodity Type (BBL/D) (BBL) Start Date End Date WTI Fixed Price Derivative Swap 35,000 60.51 10/1/2019 12/31/2019 WTI Fixed Price Derivative Swap 45,000 56.42 1/1/2020…
  25. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 25
    Current Financial Position As of September 30, 2019 2.8 BN total debt, excluding capital leases Note Maturity Profile MM Total liquidity 2.0 BN 2,000 Approximately 435 MM of cash and cash equivalents Undrawn 1.6 BN unsecured senior…
  26. 3Q 2019 Earnings Presentation – Murphy Oil Corp – slide 26
    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 1H 2019 vs peer average SOCIAL…

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