INVESTOR UPDATE MAY 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 0
Why Murphy Oil Oil and natural gas assets that are safely operated with low carbon emissions intensity in three operating areas across North America High-potential exploration portfolio with industry-leading offshore…
Our 2021 Priorities DELEVER EXECUTE EXPLORE Achieved debt reduction of 8%, Brought onshore wells Spud Silverback or 230 MM, in 1Q 2021 online ahead of schedule exploration well in Gulf of and under budget Mexico in 2Q 2021 Goal…
Capital Execution and Guidance Executing In-Line With Plan Accrued CAPEX by Quarter MM 800 1Q 2021 accrued CAPEX* of 230 MM aligned with plan Includes 20 MM cost of Lucius WI acquisition 700 Primary business units CAPEX heavily…
Balance Sheet Stability Solid Foundation for Commodity Maturity Profile* Price Cycles Total Bonds Outstanding BN 2.756 1.6 BN senior unsecured credit facility matures Nov 2023, undrawn at Weighted Avg Fixed Coupon 6.3% March 31, 2021…
Focusing on ESG Priorities Reducing Impact Through Operational Focus Proud member of Lowering carbon emissions intensity 15 20% by 2030*, tied to compensation goal Reduce flaring by developing alternate export infrastructure…
North America Onshore Balancing Investments for Free Cash Generation to Delever Balance Sheet 2021 Wells Online 1Q 2021 Onshore Activity 25 Eagle Ford Shale 20 16 operated wells + 16 gross non-operated 15 wells* online 10 75 MM of…
Eagle Ford Shale Base Production Outperforms While Lowering Costs 1Q 2021 Activity Eagle Ford Shale Acreage 16 operated wells online, all Karnes Wilson KARNES Primarily Lower EFS and Austin Chalk Atascosa Karnes Avg 1,400 BOEPD IP30…
Tupper Montney Increasing Recoveries While Lowering Costs Tupper Montney Production and Cumulative FCF 1Q 2021 Activity 500 250 4 wells online, 45 days ahead of plan 400 200 Lowering D&C costs 300 150 MMCFD MM 28%…
Kaybob Duvernay Kaybob Duvernay Acreage FY 2021 Kaybob No activity planned North H Kaybob H H 9 MM CAPEX for field development H H H East H H H H H D H Lower Costs Support Long-Term Development H H…
Gulf of Mexico Major Projects Drive Future Free Cash Flow Facilities Khaleesi / Mormont / Samurai Project Installation / Launched drilling campaign 2Q 2021 Components Fabrication Commissioning Hook-up Drilled top hole sections for 3…
Kings Quay Floating Production System Kings Quay Platform Crane Installation Kings Quay Floating Production System Monetization closed 1Q 2021 for 268 MM of proceeds Completed construction in 2Q 2021 Sail away to Gulf of Mexico on…
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…
2021 Exploration Plan Gulf of Mexico Mississippi Canyon 35 Asset Overview Silverback Chevron 80% (Op), Murphy 10%, VK Ecopetrol 10% MC Acreage is adjacent to large position held by Murphy and partners Hoffe Park Additional play…
2021 Exploration Plan 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…
LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 19
2021 Capital Program 2021 Total CAPEX Production 160 - 168 MBOEPD 2Q 2021 24% US Onshore Production 157 - 165 MBOEPD 4% Offshore FY 2021 Canada Onshore 11% 2021 675 - 725 Million Exploration CAPEX 47% Other GUIDANCE FY…
Disciplined Strategy Leads to Long-Term Value Delever, Execute, Explore 2021 2024 Capital Allocation Optionality Achieve < 1.4 BN debt by 2024* Reduce debt further Spend annual average CAPEX of 600 MM Allocate additional capital to…
Focused on Targeted Priorities DELEVER EXECUTE EXPLORE Goal of further 200 MM, Progress major projects in Focus on drilling 2 non-op for total of 15% reduction in the Gulf of Mexico ahead of wells in Gulf of Mexico and FY 2021 at…
Why Murphy Oil Oil and natural gas assets that are safely operated with low carbon emissions intensity in three operating areas across North America High-potential exploration portfolio with industry-leading offshore…
INVESTOR UPDATE MAY 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 24
2Q 2021 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 28,300 5,000 27,400 37,900 Gulf of Mexico excluding NCI1 57,400 5,100 68,800 74,000 Canada Tupper Montney 236,400 39,400 Kaybob…
Current Hedging Positions United States Volumes Price Commodity Type (BBL/D) (BBL) Start Date End Date WTI Fixed Price Derivative Swap 45,000 42.77 4/1/2021 12/31/2021 WTI Fixed Price Derivative Swap 20,000 44.88 1/1/2022…
1Q 2021 Cash Flow Simplification Cash Flow Adjustments Cash Flow Attributable to Murphy (MM) Inflow Outflow Net Total inflow of cash of 1,048 MM Cash from operations and property additions 1 238 (241) (3) From operations, Kings Quay…
North America Onshore Eagle Ford Shale Operated Well Locations Inter-Well Remaining Area Net Acres Reservoir Spacing (ft) Wells Lower EFS 300 106 Karnes 10,092 Upper EFS 600 142 Austin Chalk 1,200 97 Lower EFS 600 264 Tilden…
Tupper Montney Project Low Carbon Intensity Development With Attractive Cash Margins Tupper Montney Advantages Annual Cumulative Cash Margin Per Well MM Employ capital allocation process that maximizes free long term cash flow 6 5…
Tupper Montney Development High Impact Development Drives Future Cash Flows Tupper Montney Production and Cumulative FCF Tupper Montney Development Plan 500 250 Commitment to infrastructure approved 2Q 2018; 400 200 sanctioned 4Q…
Eagle Ford Shale Peer Acreage Murphy OIL EOG Lewis/BP ConocoPhillips Marathon EP Energy Ensign CONDENSATE Ovintiv Callon Chesapeake Mesquite Energy BP GAS Equinor Sundance www.murphyoilcorp.com NYSE: MUR 37
Gulf of Mexico Murphy Blocks PRODUCING ASSETS Gulf of Mexico Exploration Area Asset Operator Murphy WI1 Silverback Dalmatian S. Cascade Murphy 80% Hoffe Park VK DD Chinook Murphy 80% Silver Dollar Clipper Murphy 80% Silver Dollar…
Gulf of Mexico Major Projects CAPEX and Production Cadence Major projects include Khaleesi, Mormont, Samurai and St. Malo waterflood Major Projects Net CAPEX MM 90 75 60 45 30 15 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q…
2021 Exploration Plan Potiguar Basin, Brazil Potiguar Basin Asset Overview Wintershall Dea 70% (Op), Murphy 30% Murphy WI Block Other Block Hold WI in 3 blocks, spanning 775 M Discovered Field gross acres Petrobras/BP/ Kilometers…
2021 Exploration Plan Salina Basin, Mexico Block 5 Overview Salina Basin Murphy 40% (Op), Petronas 30%, Block 5 Wintershall Dea 30% Batopilas 34 leads / prospects Linares Mean to upward gross resource potential Block Cholula 5…
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…
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 Signed joint operating agreement with HAI SU DEN PHUONG…
INVESTOR UPDATE MAY 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 47
Loading...
