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3Q 2022 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · Nov 4, 2022 · 39 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 2022 Earnings Presentation – Murphy Oil Corp – slide 1
    2022 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 3, 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 0
  2. 3Q 2022 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. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 3
    Progressing Strategic Priorities DELEVER EXECUTE EXPLORE Reduced debt by 240 MM through redemption of Production continuing to exceed Received all permits in advance of spudding remaining senior notes due 2024 and partial expectations…
  4. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 4
    3Q 2022 Production, Pricing and Revenue Update Oil Production Drives High Revenue 3Q 2022 Production 3Q 2022 Revenue by Area by Area Onshore Canada Eagle Ford Shale 134 MM Eagle Ford Shale 287 MM 39,300 BOEPD 13% 21% 27%…
  5. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 5
    Positive Response to Sustainability Reporting Approach Increased Disclosures in Sustainability Report to Align With Internationally Recognized Frameworks by the Institutional Shareholder Services Group of Conducted Annual Sustainability…
  6. 3Q 2022 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) 3Q 2022 Net income 528 MM; adjusted net income 290 MM Income (loss) 528 /Diluted share 3.36…
  7. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 7
    Financial Results Strengthening Balance Sheet Solid Foundation for Commodity Price Cycles Long-Term Debt Profile* 466 MM of cash and cash equivalents at Sept 30, 2022 Total Bonds Outstanding BN 2.0 Achieved 248 MM of long-term debt…
  8. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 8
    2022 Production Plan Major Project Execution, Enhanced Well Design Drive Oil Production Increase Well Design Enhancements, Top-Tier Execution FY 2022E Revised Production By Area Achieve Higher Rates Across Assets Enhanced Eagle Ford…
  9. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 9
    2022 CAPEX Plan Prioritizing Capital To Support Free Cash Flow FY 2022 Accrued CAPEX Variances MM Capital Plan Supports Further Delevering, Enhanced 5 10 Shareholder Returns 20 40 Raising FY 2022 accrued CAPEX guidance to 975 1.025…
  10. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 10
    ONSHORE PORTFOLIO UPDATE www.murphyoilcorp.com NYSE: MUR 10
  11. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 11
    Eagle Ford Shale Enhancing Portfolio and Production Through Strong Execution, Improved Completions 3Q 2022 39 MBOEPD, 87% Liquids Eagle Ford Shale Acreage 4 operated wells online in Catarina 3 non-operated wells online in Tilden…
  12. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 12
    Tupper Montney 2022 Wells Achieved Fast Payout 3Q 2022 376 MMCFD Net, 395 MMCFD Gross Tupper Montney Acreage 5 wells online Activity complete for FY 2022 Realizing Record-High Production Results Achieved record-high gross production…
  13. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 13
    Tupper Montney Royalty Structure Impacting Production Results Complex, Backward-Looking Royalty Calculation Royalty Rate and Production Impact Based on government-determined posted minimum price (PMP) 30% 70 Royalty rate increases…
  14. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 14
    OFFSHORE PORTFOLIO UPDATE www.murphyoilcorp.com NYSE: MUR 14
  15. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 15
    Gulf of Mexico Development and Tiebacks Drive Future Free Cash Flow Gulf of Mexico Assets 3Q 2022 76 MBOEPD, 80% Oil Development and Tieback Projects Hoffe Park Dalmatian S. VK DD Drilled successful Dalmatian 1 (Desoto Canyon 90)…
  16. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 16
    Khaleesi, Mormont, Samurai Field Development Details On Track for Completing Initial Phase by Year-End 2022 Khaleesi, Mormont, Samurai Fields Field Development Project Achieved first oil at Kings Quay FPS April 2022, industry-leading…
  17. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 17
    EXPLORATION UPDATE www.murphyoilcorp.com NYSE: MUR 17
  18. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 18
    2022 Exploration Plan Salina Basin, Mexico Salina Basin Block 5 Overview Murphy 40% (Op), Petronas 30%, Wintershall Dea 30% Block 5 34 leads / prospects Mean to upward gross resource potential Tulum-1EXP Cholula 800 MMBO 2,000…
  19. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 19
    2022 Exploration Plan Gulf of Mexico Gulf of Mexico Exploration Area Oso-1EXP (Atwater Valley 138) Murphy 33% (Op), Anadarko* 33%, Hoffe Park Dalmatian S. VK DD Ridgewood 33% Silver Dollar Silver Dollar West Executed…
  20. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 20
    LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 20
  21. 3Q 2022 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. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 22
    Progressing Strategic Priorities DELEVER EXECUTE EXPLORE Reduced debt by 240 MM through redemption of Production continuing to exceed Received all permits in advance of spudding remaining senior notes due 2024 and partial expectations…
  23. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 23
    2022 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 3, 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 23
  24. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 24
    4Q 2022 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 23,500 5,100 27,800 33,200 Gulf of Mexico excluding NCI1 68,000 5,600 70,500 85,400 Canada Tupper Montney 296,100 49,400 Kaybob…
  25. 3Q 2022 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 10/1/2022 12/31/2022 Volumes Put Price Call Price Commodity Type (BBL/D)…
  26. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 26
    Current Fixed Price Contracts Natural Gas Tupper Montney, Canada Volumes Price Commodity Type (MMCF/D) (MCF) Start Date End Date Natural Gas Fixed Price Forward Sales at AECO 247 C2.34 10/1/2022 10/31/2022 Natural Gas Fixed Price…
  27. 3Q 2022 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. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 28
    Eagle Ford Shale Peer Acreage www.murphyoilcorp.com NYSE: MUR 34
  29. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 29
    Kaybob Duvernay Peer Acreage HALO GMT HITIC KAYBOB EAST Murphy Crescent Paramount Point Whitecap Crescent Point Chevron PARAMOUNT Kiwetinohk PCC CENOVUS Cenovus PCC KAYBOB WEST GMT Hitic KEYERA Halo SIMONETTE Open…
  30. 3Q 2022 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. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 31
    Placid Montney Peer Acreage ARC KAYBOB EAST CNRL HALO Murphy PARAMOUNT ARC Cenovus HWN CNRL ENERGY RIDGEBACK Halo HWN Energy KAYBOB WEST I3 Energy Kiwetinohk KEYERA SIMONETTE Open Crown I3 SAXON Other Leased…
  32. 3Q 2022 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. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 33
    Exploration Update Gulf of Mexico Gulf of Mexico Exploration Area Interests in 116 Gulf of Mexico OCS Blocks 650,000 total gross acres Hoffe Park Dalmatian S. VK DD 70 exploration blocks Silver Dollar West Silver Dollar 1…
  34. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 34
    Exploration Update Salina Basin, Mexico Salina Basin Block 5 Overview Block 5 Murphy 40% (Op), Petronas 30%, Wintershall Dea 30% 34 leads / prospects Tulum-1EXP Mean to upward gross resource potential Cholula 800 MMBO 2,000 MMBO…
  35. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 35
    Exploration Update Sergipe-Alagoas Basin, Brazil Sergipe-Alagoas Basin Asset Overview ExxonMobil 50% (Op), Enauta Energia S.A. 30%, BRAZIL Murphy 20% Hold WI in 9 blocks, spanning 1.6 MM acres 2.8 BN BOE discovered in basin 351…
  36. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 36
    Exploration Update Potiguar Basin, Brazil Potiguar Basin Asset Overview Murphy 100% (Op) Murphy WI Block Other Block Assumed Wintershall DEAs 70% WI position Discovered Field at no cost Kilometers 0 50 Hold WI in 3 blocks,…
  37. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 37
    Development Update Cuu Long Basin, Vietnam Cuu Long Basin Asset Overview LAC DA TRANG BLOCK 15-01/05 NORTH WEST SU TU VANG Murphy 40% (Op), PVEP 35%, SKI 25% LAC DA TRANG Block 15-1/05 WEST Received approval of the Lac Da…
  38. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 38
    Exploration Update Cuu Long Basin, Vietnam Cuu Long Basin Asset Overview 5 BLOCK 15-02/17 Murphy 40% (Op), PVEP 35%, SKI 25% HAI SU BAC HAI SU VANG Block 15-2/17 HAI SU DEN 2-year exploration extension to 4Q 2024 PHUONG…
  39. 3Q 2022 Earnings Presentation – Murphy Oil Corp – slide 39
    2022 THIRD QUARTER EARNINGS CONFERENCE CALL & WEBCAST NOVEMBER 3, 2022 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 45

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