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2Q22 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · Aug 4, 2022 · 37 slides

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Slides

  1. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 1
    2022 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 4, 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 0
  2. 2Q22 Earnings 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. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 3
    Progressing Strategic Priorities DELEVER EXECUTE EXPLORE Redeemed 200 MM of 2024 Senior Notes Brought online four wells in Khaleesi, Received drilling permit for Tulum-1EXP in in June 2022 Mormont, Samurai fields with 97% uptime at…
  4. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 4
    2Q 2022 Production, Pricing and Revenue Update Oil Production Drives High Revenue 2Q 2022 Production 2Q 2022 Revenue by Area by Area Onshore Canada Eagle Ford Shale 118 MM Eagle Ford Shale 302 MM 36,400 BOEPD 11% 22% 32% 28%…
  5. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 5
    2022 Sustainability Report Highlights CONTINUED POSITIVELY IMPACTING OUR STRONG ENVIRONMENTAL STEWARDSHIP PEOPLE AND COMMUNITIES GOVERNANCE OVERSIGHT from 2019 to 2021 from 2019 to 2021 Well-defined Board and managerial oversight…
  6. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 6
    Financial Results Advancing Goals Through Cash Flow Generation Financial Results Net Income Attributable to Murphy (MM Except Per Share) 2Q 2022 Net income 351 MM; adjusted net income 305 MM Income (loss) 351 /Diluted share 2.23…
  7. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 7
    Financial Results Strengthening Balance Sheet Solid Foundation for Commodity Price Cycles Long-Term Debt Profile* 432 MM of cash and cash equivalents at Total Bonds Outstanding BN 2.27 June 30, 2022 Redeemed 200 MM of 6.875% Senior…
  8. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 8
    ONSHORE PORTFOLIO UPDATE www.murphyoilcorp.com NYSE: MUR 8
  9. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 9
    Eagle Ford Shale Enhancing Portfolio and Production Through Strong Execution, Improved Completions 2Q 2022 36 MBOEPD, 86% Liquids Eagle Ford Shale Acreage 23 operated wells online 17 Karnes, 6 Catarina 3Q 2022 Well Delivery Schedule…
  10. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 10
    Tupper Montney 2022 Wells Forecast to Achieve Fast Payback 2Q 2022 275 MMCFD Tupper Montney Acreage 15 wells online 3Q 2022 Well Delivery Schedule 5 wells now producing Completes FY 2022 program Alberta BC Achieving Record-High…
  11. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 11
    OFFSHORE PORTFOLIO UPDATE www.murphyoilcorp.com NYSE: MUR 11
  12. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 12
    Gulf of Mexico Development and Tiebacks Drive Future Free Cash Flow Gulf of Mexico Assets 2Q 2022 70 MBOEPD, 79% Oil FY 2022 Capital Plan Hoffe Park Dalmatian S. VK DD 80% of spend for major projects in Gulf of Mexico Silver…
  13. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 13
    Gulf of Mexico Opportunistic, High-Returning Bolt-On Acquisitions Enhance Portfolio Value Gulf of Mexico Assets Acquisitions Enhanced With Near-Term Development Dalmatian S. Hoffe Park VK DD Incremental production forecast of 1.5…
  14. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 14
    Khaleesi, Mormont, Samurai Field Development Details Khaleesi, Mormont, Samurai Fields Field Development Project Achieved first oil at Kings Quay FPS April 2022, ahead of schedule and on budget 97% facility uptime Kings Quay FPS 4…
  15. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 15
    EXPLORATION UPDATE www.murphyoilcorp.com NYSE: MUR 15
  16. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 16
    2022 Exploration Plan Salina Basin, Mexico Salina Basin Block 5 Overview Murphy 40% (Op), Petronas 30%, Wintershall Dea 30% Block 5 34 leads / prospects Tulum-1EXP Mean to upward gross resource potential Block Cholula 5 800 MMBO…
  17. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 17
    Exploration Update Gulf of Mexico Gulf of Mexico Exploration Area Interests in 113 Gulf of Mexico OCS Blocks Hoffe Park VK DD 650,000 total gross acres Silver Dollar Silver Dollar West 69 exploration blocks Medusa Delta House…
  18. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 18
    LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 18
  19. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 19
    2022 Production Plan Major Project Execution, Enhanced Well Design Drive Production Guidance Increase Well Design Enhancements, Top-Tier Execution FY 2022E Production By Area Achieve Higher Rates Across Assets Enhanced Eagle Ford Shale…
  20. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 20
    2022 Capital Allocation Plan Prioritizing Capital To Support Free Cash Flow Capital Plan Supports Further Delevering, FY 2022 CAPEX By Area Enhanced Shareholder Returns 2% 10% Maintaining FY 2022 CAPEX guidance of 900 950 MM,…
  21. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 21
    Capital Allocation Priorities Framework1 Allows for Long-Term Debt Reduction, Shareholder Returns Beyond Quarterly Dividend Initial 300 MM Share Repurchase Program2 Authorized by Board Murphy 1.0 Long-Term Debt 1.8 BN Adjusted Free…
  22. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 22
    Progressing Strategic Priorities DELEVER EXECUTE EXPLORE Redeemed 200 MM of 2024 Senior Notes Brought online four wells in Khaleesi, Received drilling permit for Tulum-1EXP in in June 2022 Mormont, Samurai fields with 97% uptime at…
  23. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 23
    2022 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 4, 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 23
  24. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 24
    3Q 2022 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 27,600 4,800 28,900 37,200 Gulf of Mexico excluding NCI1 56,300 4,300 61,300 70,800 Canada Tupper Montney 394,400 65,700 Kaybob…
  25. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 25
    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 7/1/2022 12/31/2022 Volumes Put Price Call Price Commodity Type (BBL/D)…
  26. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 26
    Current Fixed Price Contracts Natural Gas Montney, Canada Volumes Price Commodity Type (MMCF/D) (MCF) Start Date End Date Natural Gas Fixed Price Forward Sales at AECO 247 C2.34 7/1/2022 10/31/2022 Natural Gas Fixed Price Forward…
  27. 2Q22 Earnings Presentation – 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 300 108 Karnes 10,092 Upper EFS 1,000 151 Austin Chalk 1,100 106 Lower EFS 630 231 Tilden…
  28. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 28
    Eagle Ford Shale Peer Acreage www.murphyoilcorp.com NYSE: MUR 34
  29. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 29
    Kaybob Duvernay Peer Acreage HALO GMT HITIC KAYBOB EAST Murphy Crescent Paramount Repsol Point XTO Crescent Point PARAMOUNT Chevron Kiwetinohk CENOVUS PCC PCC Cenovus KAYBOB WEST GMT Hitic KEYERA SIMONETTE Halo…
  30. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 30
    Tupper Montney Peer Acreage Advantage Montney ARC Montney Birchcliff Montney Ovintiv Montney Tourmaline Montney Shell Montney Other Competitors Open Crown Murphy TCPL Pipeline Murphy Pipeline Battery Facility 0 Miles…
  31. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 31
    Placid Montney Peer Acreage ARC CNRL KAYBOB EAST HALO Murphy ARC Cenovus HAWTHORNE PARAMOUNT CNRL ENERGY Halo I3 Energy KAYBOB WEST Kiwetinohk Open Crown KEYERA SIMONETTE Other Leased I3 SAXON Paramount Spartan…
  32. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 32
    Gulf of Mexico Murphy Blocks Gulf of Mexico Assets PRODUCING ASSETS Asset Operator Murphy WI1 Dalmatian S. Calliope Murphy 29% Hoffe Park VK DD Cascade Murphy 80% Silver Dollar Chinook Murphy 86% Silver Dollar West Clipper…
  33. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 33
    2022 Exploration Plan Sergipe-Alagoas Basin, Brazil Sergipe-Alagoas Basin Asset Overview 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…
  34. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 34
    Exploration Update Potiguar Basin, Brazil Potiguar Basin Asset Overview Wintershall Dea 70% (Op), Murphy 30% Murphy WI Block Other Block Received offshore operator approval from Discovered Field ANP, necessary step to acquire…
  35. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 35
    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…
  36. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 36
    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…
  37. 2Q22 Earnings Presentation – Murphy Oil Corp – slide 37
    2022 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 4, 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 43

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