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4Q 2019 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · Jan 30, 2020 · 31 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. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 1
    2019 FOURTH QUARTER EARNINGS CONFERENCE CALL & WEBCAST JANUARY 30, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www. m u r p h yo i l c o r p . c o m January 2020 N YS E : MU R 0
  2. 4Q 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 173 MBOEPD in…
  3. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 3
    2019 Production Update 4Q 2019 and FY 2019 Production 4Q 2019 Production 194 MBOEPD, 67% Liquids 4Q 2019 Production 115,000 BOPD oil production 60% Oil Gulf of Mexico (3,500) BOEPD 33% Natural Gas 27% 30% (1,500) BOEPD at…
  4. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 4
    Maintaining High-Margin Reserves in 2019 Sustaining 50% oil-weighted portfolio Proved Reserves MMBOE Organic reserves replacement 172% Increased proved developed reserves from 50% to 57% year-over-year 3-year average total F&D cost…
  5. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 5
    4Q 2019 Financial Results 4Q 2019 Results 4Q 2019 (MM Except Per Share) Net loss 72 MM Net Income Attributable to Murphy Adjusted net income 25 MM Income (loss) (72) 4Q 2019 Accounting Adjustments /Diluted share (0.46) One-off income…
  6. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 6
    Maintaining Financial Discipline & Balance Sheet Strength 4Q 2019 Cash Flow from Cash Flow Attributable to Murphy (MM) 4Q 2019 FY 2019 Continuing Operations Net cash provided by continuing operations 336 1,489 Cash flow exceeded property…
  7. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 7
    Achieving Premium Oil-Weighted Realizations 112,000 95 BBLS/Day %SOLD At Premium SOLD 4Q 2019 to 56.96 WTI Sales Volumes & Differential Basis 4Q 2019 Total Company Eagle Ford North America Shale Offshore Other Onshore…
  8. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 8
    Accelerating Returns to Shareholders Disciplined and Flexible Strategy Free Cash Flow (MM) 2019E 600 Returned 660 MM cash in 2019 400 200 500 MM in share repurchases 0 Repurchased 12% of shares outstanding -200 -400 Generated free…
  9. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 9
    Effective Governance Supports Long-Term Financial Strength Expert and Independent Board ESG Management 75% ISS Governance Score vs Peer Average Long-term industry, operating and HSE Health, Safety and Environmental expertise…
  10. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 10
    Mitigating Risk Through Sustainable Environmental Operations Safe Operations Environmental Management GHG Emissions Reduction 0.36 average TRIR over past 5 years (vs One IOGP** recordable spill in 2019, 50% reduction in GHG…
  11. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 11
    Onshore Portfolio Update www. m u r p h yo i l c o r p . c o m January 2020 N YS E : MU R 11
  12. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 12
    Eagle Ford Shale 4Q 2019 and FY 2019 Update FY 2019 45 MBOEPD, 76% Oil, 89% Liquids Eagle Ford Shale Acreage 91 operated, 9 non-operated wells online Wilson KARNES Increased oil weighting from 73% at FY 2018 Atascosa Karnes Frio 4Q…
  13. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 13
    Kaybob Duvernay 4Q 2019 and FY 2019 Update FY 2019 10 MBOEPD, 54% Oil, 65% Liquids Kaybob Duvernay Acreage 16% production increase over FY 2018 Kaybob North 10 wells online Kaybob East Well performance exceeded expectations by 17%…
  14. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 14
    Tupper Montney 4Q 2019 and FY 2019 Update FY 2019 243 MCFD Successful AECO Price Mitigation 8 wells online Realized FY19 C2.15/MCF* vs AECO realized Generated positive free cash for the year average of C1.64/MCF 4Q 2019 260 MCFD New…
  15. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 15
    Offshore Portfolio Update www. m u r p h yo i l c o r p . c o m January 2020 N YS E : MU R 15
  16. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 16
    Gulf of Mexico 4Q 2019 Update 4Q 2019 Production 82 MBOEPD, 85% Liquids Gulf of Mexico Assets Nearly Headless Nick (Mississippi Canyon 387) Tie-in activities completed, online 4Q 2019 Neidermeyer Otis Dalmatian VK DD Peak gross…
  17. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 17
    Gulf of Mexico Multi-Year Project Execution Update Tieback & Workover Projects Tieback & Workover Projects Multiple projects to sustain long-term Planning & Drilling & production Project Engineering Completions Subsea Tie-In First…
  18. 4Q 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 January 2020 N YS E : MU R 18
  19. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 19
    2020 Capital Program 2020 Total CAPEX Production 181 - 193 MBOEPD 1Q 2020 1% 47% US Onshore Production 190 - 202 MBOEPD Offshore 7% FY 2020 Canada Onshore 2020 Exploration 1.4 - 1.5 Billion 12% CAPEX Other GUIDANCE FY…
  20. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 20
    Gulf of Mexico Sustaining Production Through Short-Cycle Projects Delivering Free Cash Flow with Efficient 2020 Estimated Gulf of Mexico Production MBOEPD 100 Capital Spending Producing 86 MBOEPD in 2020 90 3 86 82 13 440 MM CAPEX in…
  21. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 21
    North America Onshore Growing Eagle Ford Shale With Continued Investment 2020 Onshore Capital Budget 855 MM Eagle Ford Shale Well Locations Inter-Well Remaining 680 MM Eagle Ford Shale Area Net Acres Reservoir Spacing (ft) Wells 97…
  22. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 22
    2020 Exploration Plan Focusing on Core Growth Areas Targeting 500 MMBOE in Annual Program 100 MM 2020 CAPEX Mt. Ouray, US Gulf of Mexico Murphy 20% WI, non-operated US GULF OF MEXICO Green Canyon 767 Expected spud 2Q 2020…
  23. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 23
    Overview of Long Range Strategic Plan 2020 2024 Positioning Company for Long-Term Value Creation Annual Average Capital Spend Generates 1.4 BN in Free Cash Flow Over 2020 - 2024 5 Years After Dividend Exploration US Onshore Delivering…
  24. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 24
    Positioning Company for Long-Term Value Creation TRANSFORMING PRODUCING RAMPING Portfolio by adding oil-weighted, Oil-weighted assets that High value Eagle Ford Shale high-margin assets realize premium pricing production…
  25. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 25
    2019 FOURTH QUARTER EARNINGS CONFERENCE CALL & WEBCAST JANUARY 30, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www. m u r p h yo i l c o r p . c o m January 2020 N YS E : MU R 25
  26. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 26
    Appendix www. m u r p h yo i l c o r p . c o m January 2020 N YS E : MU R 26
  27. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 27
    1Q 2020 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 32,100 5,400 30,400 42,600 Gulf of Mexico excluding NCI1 69,600 5,500 77,000 87,900 Canada Tupper Montney 240,000 40,000 Kaybob…
  28. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 28
    2020 Hedging Positions United States Volumes Price Commodity Type (BBL/D) (BBL) Start Date End Date WTI Fixed Price Derivative Swap 45,000 56.42 1/1/2020 12/31/2020 Montney, Canada Volumes Price Commodity Type (MMCF/D) (MCF)…
  29. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 29
    Current Financial Position As of December 31, 2019 2.8 BN total debt, excluding capital leases Note Maturity Profile MM Total liquidity 1.9 BN 2,000 307 MM of cash and cash equivalents Undrawn 1.6 BN unsecured senior credit…
  30. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 30
    Employee and Community Investments Support Stable Operations In the Workplace In the Community Human Capital Initiatives United States & Canada Reviewing pay equity annually across employee groups and the El Dorado Promise…
  31. 4Q 2019 Earnings Presentation – Murphy Oil Corp – slide 31
    2019 FOURTH QUARTER EARNINGS CONFERENCE CALL & WEBCAST JANUARY 30, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www. m u r p h yo i l c o r p . c o m January 2020 N YS E : MU R 38

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