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March 2022 Investor Update – Murphy Oil Corp

Murphy Oil Corp · Mar 21, 2022 · 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. March 2022 Investor Update – Murphy Oil Corp – slide 1
    INVESTOR UPDATE MARCH 21, 2022 www.murphyoilcorp.com NYSE: MUR 0
  2. March 2022 Investor Update – Murphy Oil Corp – slide 2
    Agenda 01 Murphy at a Glance 02 Murphy Priorities 03 Murphy Portfolio 04 Looking Ahead www.murphyoilcorp.com NYSE: MUR 2
  3. March 2022 Investor Update – 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 4Q 2021 Production1 Onshore United States Eagle Ford Shale on private lands…
  4. March 2022 Investor Update – 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. March 2022 Investor Update – Murphy Oil Corp – slide 5
    2021 Sustainability Highlights Progressing Long-Term Goals With Sustainable Operations Progressing Environmental Goals Achieved lowest carbon emissions intensity in corporate history in-line with top quartile of oil-weighted peers On…
  6. March 2022 Investor Update – Murphy Oil Corp – slide 6
    MURPHY PRIORITIES www.murphyoilcorp.com NYSE: MUR 6
  7. March 2022 Investor Update – Murphy Oil Corp – slide 7
    Whats New in 1Q 2022 Onshore Well Delivery Update Returns to Shareholders Eagle Ford Shale FY 2022 well program Paid 0.15 / share dividend in 1Q 2022 progressing on schedule Dividend will be reviewed quarterly On track to bring online…
  8. March 2022 Investor Update – Murphy Oil Corp – slide 8
    Gulf of Mexico Khaleesi / Mormont / Samurai Project Update Kings Quay Floating Production System Ready for final commissioning Subsea Flowlines and Risers First oil pipelines, umbilicals, Export Laterals risers and laterals…
  9. March 2022 Investor Update – Murphy Oil Corp – slide 9
    2022 Capital Allocation Plan Prioritizing Capital To Support Free Cash Flow FY 2022 CAPEX Disciplined Capital Plan Supports Further By Area Delevering, Enhanced Shareholder Returns 3% 9% FY 2022 guidance 840 890 MM Offshore 60% of…
  10. March 2022 Investor Update – Murphy Oil Corp – slide 10
    2022 Production Plan Major Project Execution Drives Production Ramp Strong Execution Ability Strengthens FY 2022E Production By Area Production Profile 1Q 2022 production 136 142 MBOEPD 19% 53% oil, 60% liquids volumes 44% Offshore…
  11. March 2022 Investor Update – Murphy Oil Corp – slide 11
    2022 Exploration Plan Focusing on Core Growth Areas Targeting 200 MMBOE Net Resources in FY 2022 Program 75 MM 2022 CAPEX US GULF OF MEXICO Cutthroat-1, Sergipe-Alagoas Basin, Brazil Murphy 20% WI, non-operated 2.8 BN BOE discovered…
  12. March 2022 Investor Update – Murphy Oil Corp – slide 12
    MURPHY PORTFOLIO www.murphyoilcorp.com NYSE: MUR 12
  13. March 2022 Investor Update – Murphy Oil Corp – slide 13
    2022 North America Onshore Plan Balancing Investments for Free Cash Generation 2022 Onshore Capital Budget 360 MM 2022 Wells Online 35 95 MBOEPD Forecast for FY 2022 30 30% oil weighting, 34% liquids 25 20 8% production increase…
  14. March 2022 Investor Update – Murphy Oil Corp – slide 14
    Eagle Ford Shale Solid 2021 Underpinned By Ongoing D&C Improvements 220 MM FY 2022 Capital Plan Eagle Ford Shale Acreage 27 operated wells online 17 Karnes wells, Wilson KARNES 10 Catarina wells Atascosa Karnes 32 gross…
  15. March 2022 Investor Update – Murphy Oil Corp – slide 15
    Tupper Montney Continual Improvement Drives Stronger Well Performance Tupper Montney Acreage 120 MM FY 2022 Capital Plan 20 operated wells online H H H All permits in place to drill and complete H H H H H H H H H…
  16. March 2022 Investor Update – Murphy Oil Corp – slide 16
    Gulf of Mexico Development and Projects Drive Future Free Cash Flow 330 MM FY 2022 Capital Plan Gulf of Mexico Assets 265 MM for major projects in Gulf of Mexico Dalmatian S. 65 MM for development and tie-back projects Hoffe Park VK…
  17. March 2022 Investor Update – Murphy Oil Corp – slide 17
    2022 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…
  18. March 2022 Investor Update – Murphy Oil Corp – slide 18
    2022 Exploration Plan Salina Basin, Mexico Block 5 Overview Salina Basin Murphy 40% (Op), Petronas 30%, Block 5 Wintershall Dea 30% 34 leads / prospects Tulum 1-EXP Mean to upward gross resource potential Block Cholula 5 800…
  19. March 2022 Investor Update – Murphy Oil Corp – slide 19
    LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 19
  20. March 2022 Investor Update – Murphy Oil Corp – slide 20
    Disciplined Strategy Leads to Long-Term Value at Conservative Prices 2022 2023 2024 2025 2026 2027 2028 Accelerating debt reduction goal to 600 MM Realizing average annual production of 195 MBOEPD with 650 MM in FY 2022* 50% average…
  21. March 2022 Investor Update – Murphy Oil Corp – slide 21
    Focused on FY 2022 Targeted Priorities DELEVER EXECUTE EXPLORE Increasing debt reduction goal to Progress major operated projects in Focus on drilling non-op Cutthroat well 600 650 MM in FY 2022* the Gulf of Mexico ahead of first oil…
  22. March 2022 Investor Update – Murphy Oil Corp – slide 22
    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…
  23. March 2022 Investor Update – Murphy Oil Corp – slide 23
    INVESTOR UPDATE MARCH 21, 2022 www.murphyoilcorp.com NYSE: MUR 23
  24. March 2022 Investor Update – Murphy Oil Corp – slide 24
    2021 Proved Reserves Maintaining Proved Reserves With Minimal Capital Total proved reserves 699 MMBOE at YE 2021 vs 697 MMBOE at YE 2020 2021 Proved Reserves By Area Achieved 102% total reserve replacement Proved developed reserves…
  25. March 2022 Investor Update – Murphy Oil Corp – slide 25
    1Q 2022 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 20,600 4,100 23,300 28,600 Gulf of Mexico excluding NCI1 45,500 3,500 55,800 58,300 Canada Tupper Montney 243,200 40,500 Kaybob…
  26. March 2022 Investor Update – 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 20,000 44.88 1/1/2022 12/31/2022 Volumes Put Price Call Price Commodity Type (BBL/D)…
  27. March 2022 Investor Update – 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 186 C2.36 1/1/2022 1/31/2022 Natural Gas Fixed Price Forward Sales at…
  28. March 2022 Investor Update – Murphy Oil Corp – slide 28
    Financial Results Strengthening Balance Sheet Solid Foundation for Commodity Long-Term Debt Profile* Price Cycles Total Bonds Outstanding BN 2.46 521 MM of cash and cash equivalents at Dec 31, 2021 Weighted Avg Fixed Coupon 6.2% Net…
  29. March 2022 Investor Update – 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 300 108 Karnes 10,092 Upper EFS 1,000 151 Austin Chalk 1,100 106 Lower EFS 630 231 Tilden…
  30. March 2022 Investor Update – Murphy Oil Corp – slide 30
    Eagle Ford Shale Peer Acreage www.murphyoilcorp.com NYSE: MUR 36
  31. March 2022 Investor Update – Murphy Oil Corp – slide 31
    Kaybob Duvernay Peer Acreage KAYBOB EAST Crescent Point PARAMOUNT MUR DVRN Rights Paramount Repsol PCC CENOVUS XTO KAYBOB WEST Crescent Pointl KEYERA Chevron Fox Creek SIMONETTE Kiwetinohk SAXON PCC Cenovus ENERGY…
  32. March 2022 Investor Update – 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. March 2022 Investor Update – Murphy Oil Corp – slide 33
    Placid Montney Peer Acreage ARC CNRL HALO KAYBOB EAST MUR MONT Rights ARC Cenovus TANGLE PARAMOUNT CNRL SPARTAN Halo DELTA CREEK Kiwetinohk Open Crown - Mont KAYBOB WEST Other Leased - Mont KEYERA Fox Paramount…
  34. March 2022 Investor Update – Murphy Oil Corp – slide 34
    Gulf of Mexico Murphy Blocks PRODUCING ASSETS Gulf of Mexico Assets Asset Operator Murphy WI1 Dalmatian S. Calliope Murphy 29% Hoffe Park VK DD Cascade Murphy 86% Silver Dollar Chinook Murphy 86% Silver Dollar West Clipper…
  35. March 2022 Investor Update – Murphy Oil Corp – slide 35
    Offshore Canada Advancing Terra Nova Asset Life Extension Project Terra Nova Field, Offshore Canada Terra Nova FPSO Suncor 48% (Op), Cenovus 34%, LABRADOR Murphy 18% QUEBEC Partner group advancing asset life extension (ALE)…
  36. March 2022 Investor Update – Murphy Oil Corp – slide 36
    Exploration Update Gulf of Mexico Gulf of Mexico Exploration Area Interests in 126 Gulf of Mexico OCS Blocks Dalmatian S. Hoffe Park VK DD 725,000 total gross acres, Silver Dollar 58 exploration blocks Silver Dollar West Delta…
  37. March 2022 Investor Update – Murphy Oil Corp – slide 37
    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/ Kilometers…
  38. March 2022 Investor Update – 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. March 2022 Investor Update – 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 HAI SU DEN PHUONG 4Q…
  40. March 2022 Investor Update – Murphy Oil Corp – slide 40
    INVESTOR UPDATE MARCH 21, 2022 www.murphyoilcorp.com NYSE: MUR 46

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