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3Q 2021 Investor Presentation – Murphy Oil Corp

Murphy Oil Corp · Nov 4, 2021 · 40 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. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 1
    2021 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 4, 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 0
  2. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 2
    Why Murphy Oil Sustainable 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…
  3. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 3
    3Q 2021 Progress on Strategic Priorities DELEVER EXECUTE EXPLORE Redeemed 150 MM of 2024 Transported Kings Quay FPS safely Non-op Silverback well in Gulf Senior Notes in 3Q 2021 and on schedule to Texas coast ahead of Mexico…
  4. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 4
    3Q 2021 Production, Pricing and Revenue Update 3Q 2021 Production 3Q 2021 Revenue by Area by Area Onshore Canada Eagle Ford Shale 104 MM Eagle Ford Shale 194 MM 37,300 BOEPD 16% 24% 31% Onshore Canada 37% 57,700 BOEPD 155…
  5. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 5
    Gulf of Mexico Significant Hurricane With Far-Reaching Industry Impacts Hurricane Ida Impact Gulf of Mexico Assets MISSISSIPPI ALABAMA Net 4.4 MBOEPD downtime in GEORGIA LOUISIANA FY 2021 TEXAS FLORIDA Category 4 hurricane…
  6. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 6
    3Q 2021 Financial Results 3Q 2021 Results 3Q 2021 (MM Except Per Share) Net Income Attributable to Murphy Net income 108 MM; adjusted net income 37 MM Income (loss) 108 One-Off Income Adjustments After-Tax /Diluted share 0.70…
  7. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 7
    Achieving Strategic 2021 Priorities Through Disciplined Capital Allocation Accrued CAPEX by Quarter MM Continuing Plan Execution 700 3Q 2021 accrued CAPEX of 103 MM vs 160 MM 600 guide 500 3Q 2021 lower than guide primarily due to:…
  8. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 8
    Disciplined Execution to Achieve Production Goals Production Guidance 4Q 2021 production of 145.5 153.5 MBOEPD Midpoint of oil production at 81 MBOPD Includes 4.5 MBOEPD of Gulf of Mexico facility downtime for quarter, which occurred…
  9. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 9
    ONSHORE PORTFOLIO UPDATE www.murphyoilcorp.com NYSE: MUR 9
  10. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 10
    North America Onshore Executing Well Delivery Plan On Schedule and Within Budget 2021 Wells Online FY 2021 Onshore Activity 25 Eagle Ford Shale 20 4 operated wells online in 4Q 2021 15 Total 23 operated + 45 gross non-operated…
  11. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 11
    Eagle Ford Shale Base Production Outperforms While Lowering Costs 3Q 2021 37 MBOEPD, 70% Oil, 86% Liquids Eagle Ford Shale Acreage Wilson KARNES No new wells online in 3Q 2021 Atascosa 4 operated Catarina wells online in 4Q 2021…
  12. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 12
    Eagle Ford Shale Strong Catarina Well Performance Offers Potential to De-Risk Portfolio Achieving Strong Catarina Results Eagle Ford Shale Austin Chalk Peer Acreage 4 wells online in Catarina in 4Q 2021 2 Upper EFS, 1 Lower EFS, 1…
  13. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 13
    Tupper Montney Continual Improvement Drives Improved Well Performance Tupper Montney Acreage 3Q 2021 292 MMCFD, 100% Natural Gas Activity complete for FY 2021 H H H H Record-High IP30 Rates in 2021 H H H H H H H H H…
  14. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 14
    OFFSHORE PORTFOLIO UPDATE www.murphyoilcorp.com NYSE: MUR 14
  15. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 15
    Gulf of Mexico Major Projects Drive Future Free Cash Flow Khaleesi / Mormont / Samurai Facilities Launched drilling campaign 2Q 2021 Project Installation / Components Fabrication Commissioning Hook-up Drilled Khaleesi 3 well in 3Q…
  16. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 16
    Progressing Kings Quay Floating Production System Kings Quay Floating Production System Kings Quay Sailaway Transportation Route 14,500 miles / 60 days Completed construction in 2Q 2021 Arrived shoreside in Gulf of Mexico in September…
  17. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 17
    Advancing Terra Nova Asset Life Extension Project Terra Nova FPSO Terra Nova Field, Offshore Canada Suncor 48% (Op), Cenovus 34%, LABRADOR Murphy 18% QUEBEC Partner group advancing asset life extension project Will extend…
  18. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 18
    EXPLORATION UPDATE www.murphyoilcorp.com NYSE: MUR 18
  19. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 19
    2021 Exploration Update Gulf of Mexico Interests in 126 Gulf of Mexico OCS Blocks Gulf of Mexico Exploration Area 725,000 total gross acres, 54 exploration blocks Silverback Dalmatian S. Hoffe Park VK DD 1 BBOE gross resource…
  20. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 20
    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…
  21. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 21
    LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 21
  22. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 22
    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…
  23. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 23
    Focused on Targeted Priorities DELEVER EXECUTE EXPLORE Achieving goal for 2Q 4Q Progress major projects in Focus on drilling non-op 2021 long-term debt reduction the Gulf of Mexico ahead of well in Brazil in 4Q 2021 of 300 MM, for…
  24. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 24
    2021 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 4, 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 24
  25. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 25
    4Q 2021 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 22,600 5,100 27,200 32,200 Gulf of Mexico excluding NCI1 50,500 3,400 49,800 62,200 Canada Tupper Montney 258,600 43,100 Kaybob…
  26. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 26
    Current Hedging Positions Oil United States Volumes Price Commodity Type (BBL/D) (BBL) Start Date End Date WTI Fixed Price Derivative Swap 45,000 42.77 10/1/2021 12/31/2021 WTI Fixed Price Derivative Swap 20,000 44.88 1/1/2022…
  27. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 27
    Current Hedging Positions Natural Gas Montney, Canada Volumes Price Commodity Type (MMCF/D) (MCF) Start Date End Date Natural Gas Fixed Price Forward Sales at AECO 196 C2.55 10/1/2021 12/31/2021 Natural Gas Fixed Price Forward Sales…
  28. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 28
    Balance Sheet Stability Solid Foundation for Commodity Price Cycles Long-Term Debt Profile* 505 MM of cash and cash equivalents at Total Bonds Outstanding BN 2.633 Sept 30, 2021 Announced 150 MM partial redemption of 6.875% Weighted…
  29. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 29
    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…
  30. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 30
    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 36
  31. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 31
    Kaybob Duvernay Peer Acreage www.murphyoilcorp.com NYSE: MUR 37
  32. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 32
    Tupper Montney Peer Acreage Advantage Montney ARC Montney Birchcliff Montney Ovintiv Montney Dawson Creek Tourmaline Montney Shell Montney Other Competitor Montney Open Crown - Montney Murphy Montney Dry Gas Limit TCPL…
  33. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 33
    Placid Montney Peer Acreage www.murphyoilcorp.com NYSE: MUR 39
  34. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 34
    Gulf of Mexico Murphy Blocks PRODUCING ASSETS Gulf of Mexico Assets Asset Operator Murphy WI1 Silverback Dalmatian S. Cascade Murphy 80% Hoffe Park VK DD Chinook Murphy 80% Silver Dollar Clipper Murphy 80% Silver Dollar West…
  35. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 35
    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…
  36. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 36
    2021 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 775 M Discovered Field gross acres Petrobras/BP/…
  37. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 37
    2021 Exploration Update Salina Basin, Mexico Block 5 Overview Salina Basin Murphy 40% (Op), Petronas 30%, Block 5 Wintershall Dea 30% 34 leads / prospects Tulum Mean to upward gross resource potential Block Cholula 5 800 MMBO…
  38. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 38
    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…
  39. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 39
    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 3-year primary exploration period ends 4Q HAI SU DEN PHUONG…
  40. 3Q 2021 Investor Presentation – Murphy Oil Corp – slide 40
    2021 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 4, 2021 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 46

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