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Investor Update January 2021 – Murphy Oil Corp

Murphy Oil Corp · Jan 1, 2021 · 44 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. Investor Update January 2021 – Murphy Oil Corp – slide 1
    INVESTOR UPDATE JANUARY 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 0 NYSE: MUR
  2. Investor Update January 2021 – Murphy Oil Corp – slide 2
    Agenda 1 Company Overview 2 Financial Update 3 Environmental, Social and Governance 4 Current Environment 5 Onshore Portfolio Update 6 Offshore Portfolio Update 7 Exploration Update 8 Looking Ahead www.murphyoilcorp.com…
  3. Investor Update January 2021 – 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 Maintain liquidity in 2020 with market volatility…
  4. Investor Update January 2021 – Murphy Oil Corp – slide 4
    Murphy at a Glance 2019 Proved Reserves By Area 26% 36% 800 MMBOE 38% Eagle Ford Shale US Onshore Canada Onshore NANA Offshore Offshore By Product Mix 43% 57% Liquids- 50% Weighted 7% Crude Oil NGL…
  5. Investor Update January 2021 – Murphy Oil Corp – slide 5
    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…
  6. Investor Update January 2021 – Murphy Oil Corp – slide 6
    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…
  7. Investor Update January 2021 – Murphy Oil Corp – slide 7
    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…
  8. Investor Update January 2021 – Murphy Oil Corp – slide 8
    Environment, Safety and Governance www.murphyoilcorp.com NYSE: MUR 8
  9. Investor Update January 2021 – Murphy Oil Corp – slide 9
    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…
  10. Investor Update January 2021 – Murphy Oil Corp – slide 10
    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…
  11. Investor Update January 2021 – Murphy Oil Corp – slide 11
    Current Environment www.murphyoilcorp.com NYSE: MUR 11
  12. Investor Update January 2021 – Murphy Oil Corp – slide 12
    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…
  13. Investor Update January 2021 – Murphy Oil Corp – slide 13
    Onshore Portfolio Update www.murphyoilcorp.com NYSE: MUR 13
  14. Investor Update January 2021 – Murphy Oil Corp – slide 14
    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…
  15. Investor Update January 2021 – Murphy Oil Corp – slide 15
    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…
  16. Investor Update January 2021 – Murphy Oil Corp – slide 16
    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…
  17. Investor Update January 2021 – Murphy Oil Corp – slide 17
    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…
  18. Investor Update January 2021 – Murphy Oil Corp – slide 18
    Offshore Portfolio Update www.murphyoilcorp.com NYSE: MUR 18
  19. Investor Update January 2021 – Murphy Oil Corp – slide 19
    Gulf of Mexico Free Cash Flow Generating Assets Gulf of Mexico Assets Revitalized PORTFOLIO Dalmatian Neidermeyer VK DD Marmalard Delta House Son of Bluto II TOP 5 Operator Calliope Powerball Medusa BY PRODUCTION…
  20. Investor Update January 2021 – Murphy Oil Corp – slide 20
    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…
  21. Investor Update January 2021 – Murphy Oil Corp – slide 21
    Gulf of Mexico Major Projects Capital Drives Future Production Kings Quay Floating Production Major Projects Net CAPEX MM System 120 100 Fabrication progressing on schedule, 80 despite COVID-19 limitations 60 Construction 77%…
  22. Investor Update January 2021 – Murphy Oil Corp – slide 22
    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…
  23. Investor Update January 2021 – Murphy Oil Corp – slide 23
    Exploration Update www.murphyoilcorp.com NYSE: MUR 23
  24. Investor Update January 2021 – Murphy Oil Corp – slide 24
    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…
  25. Investor Update January 2021 – Murphy Oil Corp – slide 25
    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…
  26. Investor Update January 2021 – Murphy Oil Corp – slide 26
    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…
  27. Investor Update January 2021 – Murphy Oil Corp – slide 27
    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…
  28. Investor Update January 2021 – Murphy Oil Corp – slide 28
    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…
  29. Investor Update January 2021 – Murphy Oil Corp – slide 29
    Exploration Update Cuu Long Basin, Vietnam Asset Overview Cuu Long Basin 5 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…
  30. Investor Update January 2021 – Murphy Oil Corp – slide 30
    Looking Ahead www.murphyoilcorp.com NYSE: MUR 30
  31. Investor Update January 2021 – Murphy Oil Corp – slide 31
    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…
  32. Investor Update January 2021 – Murphy Oil Corp – slide 32
    INVESTOR UPDATE JANUARY 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 32 NYSE: MUR
  33. Investor Update January 2021 – Murphy Oil Corp – slide 33
    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…
  34. Investor Update January 2021 – Murphy Oil Corp – slide 34
    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…
  35. Investor Update January 2021 – Murphy Oil Corp – slide 35
    Murphy is a Low-Emission Energy Producer Total Intensity Including Methane tCO2e/kboe1 Deepwater Shale Oil Tight Oil Conventional Shelf Conventional Onshore Heavy Oil Oil Sands 0 10 20 30 40 50 60 70 80 1…
  36. Investor Update January 2021 – Murphy Oil Corp – slide 36
    Eagle Ford Shale 2020 Well Delivery and Capital Plan Update Eagle Ford Shale Acreage 2020 Budget 200 MM 25 operated, 8 non-operated wells online Wilson KARNES No operated activity planned for 2H 2020 Atascosa Karnes 3Q 2020 35…
  37. Investor Update January 2021 – Murphy Oil Corp – slide 37
    Kaybob Duvernay 2020 Well Delivery and Capital Plan Update 2020 Budget 100 MM 16 operated wells online 10 non-operated wells online at Placid Montney 3Q 2020 13 MBOEPD, 67% Oil, 77% Liquids 4 operated wells online, deferred from 2Q…
  38. Investor Update January 2021 – Murphy Oil Corp – slide 38
    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 44
  39. Investor Update January 2021 – Murphy Oil Corp – slide 39
    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…
  40. Investor Update January 2021 – Murphy Oil Corp – slide 40
    Kaybob Duvernay Peer Acreage www.murphyoilcorp.com NYSE: MUR 46
  41. Investor Update January 2021 – Murphy Oil Corp – slide 41
    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…
  42. Investor Update January 2021 – Murphy Oil Corp – slide 42
    Placid Montney Peer Acreage www.murphyoilcorp.com NYSE: MUR 48
  43. Investor Update January 2021 – Murphy Oil Corp – slide 43
    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%…
  44. Investor Update January 2021 – Murphy Oil Corp – slide 44
    INVESTOR UPDATE JANUARY 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com 50 NYSE: MUR

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