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1Q 2020 Earnings Results – Murphy Oil Corp

Murphy Oil Corp · May 7, 2020 · 24 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 2020 Earnings Results – Murphy Oil Corp – slide 1
    2020 FIRST QUARTER EARNINGS CONFERENCE CALL & WEBCAST MAY 7, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 0 NYSE: MUR
  2. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 2
    1Q 2020 Update Production & Pricing Update 1Q 2020 Production 1Q 2020 Production 186 MBOEPD, 66% Liquids by Area Onshore Canada 110,000 BOPD oil production 28% 52,700 BOEPD 365 MM 1Q 2020 CAPEX, including 20 MM of exploration…
  3. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 3
    1Q 2020 Financial Results 1Q 2020 Results 1Q 2020 (MM Except Per Share) Net loss 416 MM Net Income Attributable to Murphy Adjusted net loss 46 MM Income (loss) (416) 1Q 2020 Adjustments /Diluted share (2.71) One-off income…
  4. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 4
    Maintaining Financial Discipline 1Q 2020 Cash Flow from Cash Flow Attributable to Murphy (MM) 1Q 2020 Continuing Operations Net cash provided by continuing operations 393 Cash flow exceeded property additions and dry hole costs by 17…
  5. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 5
    Kings Quay Transaction Update Kings Quay Floating Production System Fabrication continues to progress Transaction documentation moving forward with ArcLight Capital Partners, LLC and other parties Agreements detail assumption of…
  6. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 6
    Onshore Portfolio Update www.murphyoilcorp.com NYSE: MUR 6
  7. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 7
    Eagle Ford Shale 2020 Well Delivery and Capital Plan Update 2020 Revised Budget 200 MM Eagle Ford Shale Acreage 25 operated wells online Wilson KARNES 5 non-operated wells online Atascosa Karnes No wells online 2H 2020 Zavala…
  8. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 8
    Kaybob Duvernay 2020 Well Delivery and Capital Plan Update 2020 Revised Budget 105 MM Kaybob Duvernay Acreage 16 operated wells online, 10 non-operated wells online at Kaybob North H Placid Montney H Kaybob East H H…
  9. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 9
    Tupper Montney 2020 Well Delivery and Capital Plan Update 2020 Revised Budget 15 MM Successful AECO Price Risk Mitigation 4 wells drilled, to be completed in 2021 Projected FY20 C2.18/MCF* vs AECO realized 1Q 2020 246 MMCFD, 100%…
  10. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 10
    Offshore Portfolio Update www.murphyoilcorp.com NYSE: MUR 10
  11. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 11
    Gulf of Mexico Operations and Exploration Update 2020 Revised Budget 315 MM Gulf of Mexico Assets 1Q 2020 Production 86 MBOEPD, 85% Liquids Dalmatian Neidermeyer Front Runner Rig Campaign A4 (Green Canyon 338) Otis VK DD Marmalard…
  12. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 12
    Gulf of Mexico Multi-Year Project Execution Update Tieback and Workover Projects Tieback and Workover Projects Deferred certain projects with minimal Drilling & Project Completions Subsea Tie-In First Oil production impact in 2020…
  13. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 13
    Looking Ahead www.murphyoilcorp.com NYSE: MUR 13
  14. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 14
    COVID-19 Response Prioritizing the Health and Safety of our Employees Field Operations Continuing to deliver energy in a safe and efficient manner No impacts to production, projects and construction Established robust health protocols…
  15. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 15
    Navigating Our Business in a Low Commodity Price Cycle Aggressive Reduction in Costs and Capital Spending Adjusting CAPEX by 700 MM to 740 MM at Midpoint 2020 Total CAPEX Further reduced by 40 MM following April 1 announcement 27%…
  16. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 16
    Adapting to a New Energy Landscape Solidifying Structure to Remain Competitive Ensuring Long-Term Resilience More than 60% of revised budget directed toward Maintained total liquidity of 1.8 BN, including 407 supporting 2020…
  17. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 17
    Leaning Into Challenges Murphy Priorities Upholding health and safety of employees, contractors and the communities in which we work Maintaining liquidity and financial strength Reducing capital spending and operating expenses…
  18. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 18
    2020 FIRST QUARTER EARNINGS CONFERENCE CALL & WEBCAST MAY 7, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 18 NYSE: MUR
  19. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 19
    Current Hedging Positions United States Volumes Price Commodity Type (BBL/D) (BBL) Start Date End Date WTI Fixed Price Derivative Swap 45,000 56.42 4/1/2020 4/30/2020 WTI Fixed Price Derivative Swap 65,000 47.20 5/1/2020 6/30/2020…
  20. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 20
    Current Financial Position As of March 31, 2020 2.8 BN senior notes outstanding, excluding Note Maturity Profile MM capital leases 2,000 170 MM drawn on 1.6 BN unsecured senior credit facility Total liquidity 1.8 BN 1,500 407 MM…
  21. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 21
    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 Health, Safety and Environmental Committee HSE…
  22. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 22
    Mitigating Risk Through Sustainable Environmental Operations Safe Operations Environmental Management GHG Emissions Reduction 0.36 average TRIR over past 5 years One IOGP* recordable spill in 2019, 50% reduction in GHG emissions…
  23. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 23
    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 El Dorado Promise the…
  24. 1Q 2020 Earnings Results – Murphy Oil Corp – slide 24
    2020 FIRST QUARTER EARNINGS CONFERENCE CALL & WEBCAST MAY 7, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 31 NYSE: MUR

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