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June 2020 Investor Presentation – Murphy Oil Corp

Murphy Oil Corp · Jun 17, 2020 · 42 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. June 2020 Investor Presentation – Murphy Oil Corp – slide 1
    INVESTOR UPDATE JUNE 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 0 NYSE: MUR
  2. June 2020 Investor Presentation – Murphy Oil Corp – slide 2
    Agenda 1 Company Overview 2 Current Environment and Financial Update 3 Onshore Portfolio Update 4 Offshore Portfolio Update 5 Exploration Update 6 Looking Ahead www.murphyoilcorp.com NYSE: MUR 2
  3. June 2020 Investor Presentation – Murphy Oil Corp – slide 3
    Murphy Overview Long corporate history, IPO 1956 Global offshore and North American onshore portfolio Oil-weighted assets drive high margins Exploration renaissance in focus areas Appropriate liquidity management and strong balance…
  4. June 2020 Investor Presentation – Murphy Oil Corp – slide 4
    Murphy at a Glance 2019 Proved Reserves By Area By Product Mix 26% 36% 800 43% 57% Liquids- 50% MMBOE Weighted 38% 7% USEagle Ford ShaleCanada Onshore Canada Onshore NA Onshore NAOffshore Offshore Crude Crudeoil Oil…
  5. June 2020 Investor Presentation – Murphy Oil Corp – slide 5
    Current Environment and Financial Update www.murphyoilcorp.com NYSE: MUR 5
  6. June 2020 Investor Presentation – Murphy Oil Corp – slide 6
    Adapting to a New Energy Landscape Solidifying Structure to Remain Competitive Ensuring Long-Term Resilience Portfolio streamlined through accretive, oil-weighted Maintained total liquidity of 1.8 BN, including transactions since…
  7. June 2020 Investor Presentation – Murphy Oil Corp – slide 7
    Navigating Our Business Through Low Commodity Price Cycle Production Update, Capital and Cost Reductions Production Resumes 2020 Total CAPEX Shut-ins of 7 MBOEPD for April and 40 MBOEPD for May 28% All volumes back online in June 2%…
  8. June 2020 Investor Presentation – Murphy Oil Corp – slide 8
    Balance Sheet Resilience Strong Foundation for Commodity Rating Agency Credit Rating Price Cycles Moodys Ba3 Low-levered, high yield E&P at YE 2019 S&P BB Fitch BB+ 1.6 BN senior unsecured credit facility available through Nov…
  9. June 2020 Investor Presentation – Murphy Oil Corp – slide 9
    Onshore Portfolio Update www.murphyoilcorp.com NYSE: MUR 9
  10. June 2020 Investor Presentation – Murphy Oil Corp – slide 10
    Concentrated Onshore Assets with Multi-Year Inventories PRICE-ADVANTAGED Oil-Weighted EAGLE FORD SHALE WELL POSITIONED FOR Tupper Montney Natural Gas IN TUPPER MONTNEY Kaybob Duvernay ABILITY TO Flex Capital THROUGHOUT…
  11. June 2020 Investor Presentation – Murphy Oil Corp – slide 11
    Significant Running Room in the Eagle Ford Shale Substantial Development Across 125,000 Net Acres Eagle Ford Shale Acreage 500 MMBOE total resource potential KARNES Atascosa Conservative inter-well spacing, type curves account for…
  12. June 2020 Investor Presentation – Murphy Oil Corp – slide 12
    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…
  13. June 2020 Investor Presentation – Murphy Oil Corp – slide 13
    Canada Onshore Scalable Assets for Future Growth Kaybob Duvernay Acreage Kaybob Duvernay Kaybob North 170,000 net acres with 700 remaining locations* Kaybob East Completed retention drilling program Simonette Capital carry…
  14. June 2020 Investor Presentation – Murphy Oil Corp – slide 14
    Kaybob Duvernay Scalable Asset for Future Growth Kaybob Duvernay Acreage Oil-Weighted Production from Low Cost Assets Kaybob North Kaybob East Completed retention drilling program Optimizing development plan and lateral lengths…
  15. June 2020 Investor Presentation – Murphy Oil Corp – slide 15
    Kaybob Duvernay 2020 Well Delivery and Capital Plan Update 2020 Revised Budget 100 MM Kaybob Duvernay Acreage 16 operated wells online, 10 non-operated wells online at Kaybob North Placid Montney Kaybob East No wells online 2H…
  16. June 2020 Investor Presentation – Murphy Oil Corp – slide 16
    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%…
  17. June 2020 Investor Presentation – Murphy Oil Corp – slide 17
    Offshore Portfolio Update www.murphyoilcorp.com NYSE: MUR 17
  18. June 2020 Investor Presentation – Murphy Oil Corp – slide 18
    Gulf of Mexico Free Cash Flow Generating Assets Gulf of Mexico Assets Revitalized Dalmatian PORTFOLIO Neidermeyer VK DD Marmalard Delta House Son of Bluto II TOP 5 Operator Calliope Powerball Medusa Nearly Headless…
  19. June 2020 Investor Presentation – Murphy Oil Corp – slide 19
    Gulf of Mexico Multi-Year Project Execution Update Tieback and Workover Projects 2020 Revised Budget 285 MM Drilling & Tieback and Workover Projects Project Completions Subsea Tie-In First Oil Front Runner Rig Program Deferred…
  20. June 2020 Investor Presentation – Murphy Oil Corp – slide 20
    Exploration Update www.murphyoilcorp.com NYSE: MUR 20
  21. June 2020 Investor Presentation – Murphy Oil Corp – slide 21
    Exploration Strategy Overview Focused and Meaningful Exploration Core Focus Areas Four primary exploration areas Target up to 5 total exploration wells per year Flexible capital spending to preserve large resources Portfolio upside…
  22. June 2020 Investor Presentation – Murphy Oil Corp – slide 22
    Exploration Update Salina Basin, Mexico Block 5 Overview Salina Basin Murphy 40% (Op), Petronas 30%, Wintershall Dea 30% Block 5 34 leads / prospects Batopilas Mean to upward gross resource potential Block 5 Cholula 800 MMBO…
  23. June 2020 Investor Presentation – Murphy Oil Corp – slide 23
    Exploration Update Sergipe-Alagoas Basin, Brazil Asset Overview Sergipe-Alagoas Basin ExxonMobil 50% (Op), Enauta Energia S.A. 30%, Murphy 20% BRAZIL Hold WI in 9 blocks, spanning 1.6 MM acres 2.8 BN BOE discovered in basin 1.2 BN…
  24. June 2020 Investor Presentation – Murphy Oil Corp – slide 24
    Exploration Update Potiguar Basin, Brazil Asset Overview Potiguar Basin Wintershall Dea 70% (Op), Murphy 30% Murphy WI Block Other Block Hold WI in 3 blocks, spanning 774 M Discovered Field gross acres Kilometers Petrobras/BP/ 0…
  25. June 2020 Investor Presentation – Murphy Oil Corp – slide 25
    Looking Ahead www.murphyoilcorp.com NYSE: MUR 25
  26. June 2020 Investor Presentation – Murphy Oil Corp – slide 26
    Leaning Into Challenges Murphy Priorities Reducing G&A to create a flatter, single-office organization Lowering operating expenses to increase margins across oil-weighted portfolio Modeling a flatter production profile to…
  27. June 2020 Investor Presentation – Murphy Oil Corp – slide 27
    INVESTOR UPDATE JUNE 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 27 NYSE: MUR
  28. June 2020 Investor Presentation – Murphy Oil Corp – slide 28
    Reserves Summary As of December 31, 2019 Crude Oil NGLs Natural Gas Total Proved Developed (Millions of Barrels) (Billions of Cubic Feet) (Millions of Barrels Equivalent) United States 187.3 25.6 246.0 253.9 Canada 25.1 1.9 1,026.7…
  29. June 2020 Investor Presentation – Murphy Oil Corp – slide 29
    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…
  30. June 2020 Investor Presentation – Murphy Oil Corp – slide 30
    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…
  31. June 2020 Investor Presentation – Murphy Oil Corp – slide 31
    Eagle Ford Shale Peer Acreage Murphy OIL EOG Lewis/BP ConocoPhillips Marathon EP Energy Ensign CONDENSATE Ovintiv Callon Chesapeake Sanchez BP GAS Equinor Sundance www.murphyoilcorp.com NYSE: MUR 37
  32. June 2020 Investor Presentation – Murphy Oil Corp – slide 32
    Eagle Ford Shale Murphy Spacing vs Peers Karnes Typical Murphy Spacing LEFS 250-500 EOG Offset Spacing LEFS 250 to 500 DVN Offset Spacing LEFS 250 to 500 COP Offset Spacing LEFS 250 to 600 CHK Offset Spacing LEFS 350 to…
  33. June 2020 Investor Presentation – Murphy Oil Corp – slide 33
    Kaybob Duvernay Peer Acreage SHELL KAYBOB EAST DVRN Rights 70/30 MUR/ATH Paramount PARAMOUNT Repsol XTO OVINTIV CENOVUS Shell Chevron KAYBOB WEST Ovintiv KEYERA Cenovus SIMONETTE Fox Creek Open Crown - DVRN Other…
  34. June 2020 Investor Presentation – Murphy Oil Corp – slide 34
    Tupper Montney Peer Acreage Advantage Montney Crown Land Arc Montney Crown Land Birchcliff Montney Crown Land Ovintiv Montney Crown Land Tourmaline Montney Crown Land Dawson Creek Shell Montney Crown Land Other Competitor…
  35. June 2020 Investor Presentation – Murphy Oil Corp – slide 35
    Placid Montney Peer Acreage MONT Rights 70/30 MUR/ATH Cequence KAYBOB EAST Cenovus Hammerhead PARAMOUNT Chevron HAMMERHEAD TANGLE CNRL CNRL CREEK CENOVUS Delphi Ovintiv KAYBOB WEST Open Crown - Mont Other Leased - Mont…
  36. June 2020 Investor Presentation – Murphy Oil Corp – slide 36
    Gulf of Mexico Murphy Blocks PRODUCING ASSETS Gulf of Mexico Assets Asset Operator Murphy WI1 Cascade Murphy 80% Dalmatian Neidermeyer Chinook Murphy 80% VK DD Clipper Murphy 80% Delta House Marmalard Cottonwood Murphy 80% Son…
  37. June 2020 Investor Presentation – Murphy Oil Corp – slide 37
    Offshore Mexico Salina Basin, Mexico Block 5 Overview Block 5 Prospects Murphy 40% (Op), Petronas 30%, Alamos Wintershall Dea 30% Morelia Salvatierra 34 leads / prospects TzinTzunTzan Mean to upward gross resource potential…
  38. June 2020 Investor Presentation – Murphy Oil Corp – slide 38
    Vietnam Cuu Long Basin, Vietnam Asset Overview Cuu Long Basin Murphy 40% (Op), PVEP 35%, SKI 25% VIETNAM 400 MMBOE remaining resource potential on blocks 15-1/05 and 15-2/17 Block 15-1/05 Received approval of the retained area and…
  39. June 2020 Investor Presentation – Murphy Oil Corp – slide 39
    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…
  40. June 2020 Investor Presentation – Murphy Oil Corp – slide 40
    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…
  41. June 2020 Investor Presentation – Murphy Oil Corp – slide 41
    Employee and Community Investments Support Stable Operations In the Workplace In the Community Human Capital Initiatives United States and Canada Reviewing pay equity annually across employee groups and El Dorado Promise the…
  42. June 2020 Investor Presentation – Murphy Oil Corp – slide 42
    INVESTOR UPDATE JUNE 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 48 NYSE: MUR

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