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Q3 2020 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · Nov 6, 2020 · 38 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.

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  1. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 1
    2020 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 5, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 0 NYSE: MUR
  2. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 2
    Executing Our Strategy in 2020 Targeting flatter production profile to support debt reduction in oil price recovery Employ Foresight, Talent and Financial Discipline to Maintaining strong liquidity through commodity price cycles…
  3. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 3
    3Q 2020 Update Production & Pricing Update 3Q 2020 Production 3Q 2020 Production 153 MBOEPD, 63% Liquids by Area Includes 12 MBOEPD of shut-ins due to significant 36% Onshore Canada 55,000 BOEPD Gulf of Mexico storm season vs 4.8…
  4. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 4
    3Q 2020 Financial Results 3Q 2020 Results 3Q 2020 (MM Except Per Share) Net loss 244 MM Net Income Attributable to Murphy Adjusted net loss 24 MM Income (loss) (244) 3Q 2020 Adjustments /Diluted share (1.59) One-off income adjustments…
  5. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 5
    3Q 2020 Cash Flow Results 3Q 2020 Cash Flow from Continuing Operations Cash Flow Attributable to Murphy (MM) 3Q 2020 Reduced by 28 MM working capital increase Net cash provided by continuing operations 209 Improved by 12 MM non-cash…
  6. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 6
    Balance Sheet Stability Solid Foundation for Commodity Price Cycles Maturity Profile* 1.6 BN senior unsecured credit facility matures Nov 2023, 200 MM currently drawn Total Bonds Outstanding BN 2.8 All debt is unsecured, senior credit…
  7. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 7
    Environment, Safety and Governance www.murphyoilcorp.com NYSE: MUR 7
  8. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 8
    Committed to Benefitting All Stakeholders Environmental Management Protecting Our People Expert and Independent Board 4 IOGP* recordable spills YTD 2020, equaling Strong COVID-19 response Board members have long-term industry, rate…
  9. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 9
    2020 Sustainability Report Highlights Aligned to the TCFD framework Sustainability Report Reported to SASB disclosure topics and metrics Disclosure Framework Included TCFD and SASB content indices Environment Social…
  10. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 10
    Current Environment www.murphyoilcorp.com NYSE: MUR 10
  11. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 11
    Adapting to a New Energy Landscape Solidifying Structure to Remain Competitive Ensuring Long-Term Resilience Operating in Multiple Basins Portfolio streamlined through accretive, oil- Maintained total liquidity of 1.6 BN, Portfolio…
  12. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 12
    Onshore Portfolio Update www.murphyoilcorp.com NYSE: MUR 12
  13. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 13
    Eagle Ford Shale 2020 Well Delivery and Capital Plan Update Eagle Ford Shale Acreage 2020 Budget 200 MM KARNES 25 operated, 8 non-operated wells online Wilson No operated activity planned for 2H 2020 Atascosa Karnes 3Q 2020 35…
  14. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 14
    Kaybob Duvernay 2020 Well Delivery and Capital Plan Update Kaybob Duvernay Acreage 2020 Budget 100 MM Kaybob North 16 operated wells online Kaybob East 10 non-operated wells online at Placid Montney 3Q 2020 13 MBOEPD, 67% Oil, 77%…
  15. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 15
    Tupper Montney 2020 Well Delivery and Capital Plan Update 2020 Budget 15 MM 4 wells drilled in 1Q 2020, to be completed in 2021 No further work planned for 2020 Mitigating AECO Exposure 3Q 2020 Tupper Montney Natural Gas Sales 3Q 2020…
  16. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 16
    Offshore Portfolio Update www.murphyoilcorp.com NYSE: MUR 16
  17. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 17
    Gulf of Mexico Short-Term Projects Execution Update Operated Tieback and Workover Projects 2020 Budget 285 MM Drilling & 3Q 2020 59 MBOEPD, 80% Oil, Project Completions Subsea Tie-In First Oil 86% Liquids Front Runner rig program 2…
  18. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 18
    Gulf of Mexico Major Projects Capital Drives Future Production Kings Quay Floating Production Major Projects Net CAPEX MM 120 System 100 Fabrication progressing on schedule, 80 despite COVID-19 limitations 60 Construction 77%…
  19. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 19
    Exploration Update www.murphyoilcorp.com NYSE: MUR 19
  20. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 20
    Exploration Update Progressing Plans 2020 Budget 60 MM Exploration Focus Areas Gulf of Mexico Drilling Highgarden (Green Canyon 895) non-operated, 20% WI Mexico Operated, 40% WI Cholula appraisal program approved by CNH 3-year…
  21. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 21
    Looking Ahead www.murphyoilcorp.com NYSE: MUR 21
  22. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 22
    Dialing in on Future Plans Guiding Focusing Our Priorities for 4Q 2020 Going Forward Net production 146 154 MBOEPD for 4Q 2020, Dynamic plan to maintain cash flow / CAPEX parity with including: dividend, supported by hedging…
  23. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 23
    2020 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 5, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 23 NYSE: MUR
  24. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 24
    4Q 2020 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 21,200 4,600 25,000 30,00 Gulf of Mexico excluding NCI1 50,900 5,300 61,000 66,400 Canada Tupper Montney 225,000 37,500 Kaybob…
  25. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 25
    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 10/1/2020 12/31/2020 WTI Fixed Price Derivative Swap 18,000 43.31 1/1/2021…
  26. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 26
    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 32
  27. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 27
    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…
  28. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 28
    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…
  29. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 29
    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…
  30. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 30
    Placid Montney Peer Acreage MONT Rights 70/30 MUR/ATH Cequence KAYBOB EAST Cenovus Hammerhead HAMMERHEAD PARAMOUNT Chevron TANGLE CNRL CNRL CREEK CENOVUS Delphi Ovintiv KAYBOB WEST Open Crown - Mont Other Leased - Mont…
  31. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 31
    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% Marmalard Delta House Cottonwood Murphy 80% Son…
  32. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 32
    Exploration Update Gulf of Mexico Interests in 104 Gulf of Mexico OCS Blocks Gulf of Mexico Exploration Area 600,000 total gross acres, 38 exploration Dalmatian S. blocks Delta House VK DD Hoffe Park 1 BBOE gross resource…
  33. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 33
    Exploration Update Salina Basin, Mexico Block 5 Overview Salina Basin Murphy 40% (Op), Petronas 30%, Wintershall Dea 30% Block 5 34 leads / prospects Mean to upward gross resource potential Block Cholula 5 800 MMBO 2,000 MMBO…
  34. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 34
    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…
  35. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 35
    Exploration Update Potiguar Basin, Brazil Potiguar Basin Asset Overview Wintershall Dea 70% (Op), Murphy 30% Murphy WI Block Other Block Hold WI in 3 blocks, spanning 774 M Discovered Field gross acres Petrobras/BP/ Kilometers 0…
  36. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 36
    Development Update Cuu Long Basin, Vietnam Asset Overview Cuu Long Basin BLOCK 15-01/05 LAC DA TRANG Murphy 40% (Op), PVEP 35%, SKI 25% NORTH WEST SU TU VANG LAC DA TRANG Block 15-1/05 WEST Received approval of the Lac Da…
  37. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 37
    Exploration Update Cuu Long Basin, Vietnam Asset Overview Cuu Long Basin 15 1 Murphy 40% (Op), PVEP 35%, SKI 25% BLOCK 15-02/17 HAI SU BAC HAI SU VANG Block 15-2/17 Secured legacy seismic data and maturing HAI SU DEN PHUONG…
  38. Q3 2020 Earnings Presentation – Murphy Oil Corp – slide 38
    2020 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 5, 2020 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 44 NYSE: MUR

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