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Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp

Murphy Oil Corp · Jan 5, 2022 · 47 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. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 1
    JANUARY INVESTOR PRESENTATION JANUARY 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 0
  2. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 2
    Agenda 1 Company Overview 2 Murphy Priorities 3 Murphy Portfolio 4 Looking Ahead www.murphyoilcorp.com NYSE: MUR 2
  3. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 3
    Murphy at a Glance Murphy is an independent exploration and production company, producing in three areas with an advantaged portfolio and exploration upside 3Q 2021 Production1 Onshore United States Eagle Ford Shale on private lands…
  4. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 4
    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…
  5. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 5
    Low Emissions Intensity Energy Generation Lowering emissions intensity 15-20% by 2030 Realizing lower costs while reducing environmental impacts Deepwater offshore assets have the lowest carbon intensity in global oil-producing…
  6. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 6
    2021 Sustainability Report Highlights Continued Environmental Leadership and Stewardship Revised and strengthened climate change position Obtained third-party assurance of 2020 Scope 1 and 2 GHG emissions Established goal of zero…
  7. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 7
    High-Potential Exploration Portfolio With Leading Offshore Execution Ability Focused and Meaningful Kings Quay Enroute on Heavy Lift Vessel Four primary exploration areas Targeting 3 to 5 exploration wells per year Reduced Risk…
  8. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 8
    MURPHY PRIORITIES www.murphyoilcorp.com NYSE: MUR 8
  9. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 9
    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…
  10. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 10
    Whats New in 4Q 2021 Kings Quay Floating Production System Debt Reduction Plan Mooring in progress in Gulf of Mexico Redeemed 150 MM of 2024 Notes on Dec 2 Terra Nova FPSO Achieved 300 MM long-term debt reduction goal for FY 2021 In…
  11. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 11
    Strong Cash Flow Generation Supports Shareholder Initiatives Flexible Capital to Maximize FCF Generation All assets generated FCF YTD 3Q 2021, excluding corporate activities Lowered FY 2021 CAPEX guide midpoint by 20 MM to 680 MM…
  12. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 12
    MURPHY PORTFOLIO www.murphyoilcorp.com NYSE: MUR 12
  13. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 13
    Concentrated Onshore Portfolio With Multi-Year Inventories PRICE-ADVANTAGED Oil-Weighted EAGLE FORD SHALE WELL-POSITIONED FOR Tupper Montney Natural Gas IN TUPPER MONTNEY Kaybob Duvernay 540 MMBOE PROVED RESERVES Eagle…
  14. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 14
    Well-Established Gulf of Mexico Portfolio Low-Emission Gulf of Mexico Asset Intensity Asset Hoffe Park Silverback Dalmatian S. VK DD Silver Dollar Silver Dollar West Top 5 Operator Medusa Delta House BY PRODUCTION…
  15. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 15
    High-Impact Exploration Portfolio Exploration Focus Areas Focused Targeting 3 TO 5 WELLS PER YEAR Reduced Risk APPROPRIATE WORKING INTEREST GULF OF MEXICO Company-Making VIETNAM Potential BRAZIL & MEXICO BRAZIL < 12…
  16. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 16
    LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 16
  17. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 17
    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…
  18. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 18
    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…
  19. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 19
    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 of 300 MM, for total of…
  20. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 20
    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…
  21. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 21
    JANUARY INVESTOR PRESENTATION JANUARY 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 21
  22. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 22
    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:…
  23. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 23
    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…
  24. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 24
    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…
  25. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 25
    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…
  26. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 26
    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 Redeemed 150 MM of 6.875% Notes due 2024 Weighted Avg…
  27. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 27
    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…
  28. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 28
    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…
  29. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 29
    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…
  30. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 30
    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…
  31. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 31
    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…
  32. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 32
    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…
  33. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 33
    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…
  34. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 34
    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…
  35. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 35
    Eagle Ford Shale Peer Acreage www.murphyoilcorp.com NYSE: MUR 41
  36. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 36
    Kaybob Duvernay Peer Acreage www.murphyoilcorp.com NYSE: MUR 42
  37. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 37
    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…
  38. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 38
    Placid Montney Peer Acreage www.murphyoilcorp.com NYSE: MUR 44
  39. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 39
    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…
  40. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 40
    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…
  41. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 41
    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…
  42. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 42
    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/…
  43. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 43
    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…
  44. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 44
    2021 Exploration Plan Northwest Borneo Basin, Brunei Northwest Borneo Basin Asset Overview Shell 86.949% (Op), Murphy 8.051%, Petronas 5% Partners assessing development and appraisal plan Block CA-1 reclassified as not held for sale…
  45. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 45
    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…
  46. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 46
    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…
  47. Goldman Sachs 2022 Global Energy Conference – Murphy Oil Corp – slide 47
    JANUARY INVESTOR PRESENTATION JANUARY 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 53

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