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2Q 2023 Earnings Presentation – Murphy Oil Corp

Murphy Oil Corp · Aug 3, 2023 · 41 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. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 1
    2023 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 3, 2023 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 1
  2. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 2
    Why Murphy Oil Sustainable, multi-basin oil and natural gas assets that are safely operated with low carbon emissions intensity across North America High-potential exploration portfolio with industry-leading offshore…
  3. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 3
    Advancing Strategic Priorities DELEVER EXECUTE EXPLORE Prioritize capital allocation framework to achieve Exceeded upper end of guidance range with production Initiated new exploration focus area in targeted 500 MM debt reduction goal…
  4. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 4
    2Q 2023 Production, Pricing and Revenue Update Generating High Revenue From Oil Production 2Q 2023 Production 2Q 2023 Revenue by Area by Area Onshore Canada Eagle Ford Shale 80 MM Eagle Ford Shale 188 MM 35,200 BOEPD 10% 19%…
  5. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 5
    Financial Results Generating Income to Support Corporate Priorities 2Q 2023 Financial Results Net Income Attributable to Murphy 2Q 2023 (MM Except Per Share) Net income 98 MM Income (loss) 98 Adjusted net income 124 MM /Diluted share…
  6. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 6
    Highlights From Our Fifth Sustainability Report Taking Action to Drive Benefit for All Stakeholders CONTINUED POSITIVELY IMPACTING OUR STRONG ENVIRONMENTAL STEWARDSHIP PEOPLE AND COMMUNITIES GOVERNANCE OVERSIGHT ADVANCING OUR CLIMATE…
  7. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 7
    ONSHORE PORTFOLIO UPDATE www.murphyoilcorp.com NYSE: MUR 8
  8. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 8
    Eagle Ford Shale Enhancing Portfolio and Production Through Strong Execution, Improved Completions 2Q 2023 35 MBOEPD, 89% Liquids Eagle Ford Shale Acreage 17 operated wells online 9 Catarina, 8 Tilden Strong Performance Across…
  9. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 9
    Tupper Montney New Completions Design Drives Strong Well Performance 2Q 2023 341 MMCFD Net Tupper Montney Acreage 10 operated wells online 3Q 2023 Well Delivery Schedule 1 operated well online New Completions Design Enhancing Well…
  10. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 10
    Onshore Canada Transaction Summary Monetizing Non-Core Portion of Canadian Assets Accelerating Value of Non-Core Assets1 Kaybob Duvernay and Placid Montney Acreage C150 MM before-tax net proceeds Kaybob North Expected close 3Q 2023,…
  11. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 11
    OFFSHORE PORTFOLIO UPDATE www.murphyoilcorp.com NYSE: MUR 12
  12. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 12
    Offshore Update Executing Highly-Accretive Development Projects 2Q 2023 87 MBOEPD, 80% Oil Total Offshore Gulf of Mexico Development and Tieback Projects Well performance continuing to exceed expectations Field Drilling Completions…
  13. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 13
    Vietnam Development Update Cuu Long Basin, Vietnam Cuu Long Basin Asset Overview BLOCK 15-01/05 LAC DA TRANG Murphy 40% (Op), PetroVietnam Exploration 15 km NORTHWEST Production 35%, SK Earthon 25% Block 15-1/05, Lac Da Vang…
  14. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 14
    EXPLORATION UPDATE www.murphyoilcorp.com NYSE: MUR 15
  15. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 15
    New Country Entry Expanding Exploration Focus to Cte dIvoire Tano Basin Asset Overview CTE DIVOIRE GHANA Blocks CI-102, CI-502, CI-531 and CI-709 CI-102 Murphy 90% (Op), PETROCI1 10% Baleine CI-531 Block CI-103 CI-502 Jubilee…
  16. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 16
    Exploration Update Advancing Gulf of Mexico Operated Exploration Plans Gulf of Mexico Exploration Area Longclaw 1, Green Canyon 433 Murphy 14.5% (Op) Eden Park Dalmatian S. VK DD Progressing development of discovery Silver Dollar…
  17. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 17
    LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 18
  18. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 18
    2023 Capital and Production Plan Increasing Oil-Weighted Production With Disciplined Spending 3Q 2023 Guidance FY 2023E Production By Area 188 196 MBOEPD1 99 MBOPD or 52% oil, 58% liquids volumes 18% Includes: 4.6 MBOEPD for…
  19. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 19
    Capital Allocation Priorities Reducing Long-Term Debt, Increasing Shareholder Returns Beyond Quarterly Dividend With Framework1 Initial 300 MM Share Repurchase Program2 Authorized by Board Adjusted Free Cash Flow Formula Cash Flow…
  20. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 20
    Disciplined Strategy Leads to Long-Term Value With Current Assets NEAR-TERM LONG-TERM Reducing debt by 500 MM in YE 20231 Realizing average annual production of Reinvesting 40% of operating cash flow1 to 210 MBOEPD with 53% average…
  21. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 21
    Advancing Strategic Priorities DELEVER EXECUTE EXPLORE Prioritize capital allocation framework to achieve Complete 2023 onshore well program while continuing Initiate new exploration focus area in targeted 500 MM debt reduction goal…
  22. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 22
    2023 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 3, 2023 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 23
  23. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 23
    3Q 2023 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 27,000 4,900 27,900 36,600 Gulf of Mexico excluding NCI1 65,900 6,200 66,200 83,100 Canada Tupper Montney 380,400 63,400 Kaybob…
  24. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 24
    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 250 C2.35 7/1/2023 12/31/2023 Natural Gas Fixed Price…
  25. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 25
    Murphy Ranked Best for 2021 ESG Performance Independent Benchmarking of North American Upstream Companies, July 2023 Peer Group Consists Overall ESG Scores for the Top 20 Operators (Maximum Points: 300) of 41 of the Largest Murphy Peer…
  26. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 26
    Financial Results Strengthening Balance Sheet Note Maturity Profile2 Solid Foundation to Weather Commodity MM Price Cycles 750 Targeting 500 MM debt reduction goal 500 in FY 20231 250 10 Year 20 Year 1.1 BN of liquidity on…
  27. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 27
    North America Onshore Locations More Than 50 Years of Robust Inventory with Low Breakeven Rates Diversified, Low Breakeven Portfolio Multi-basin portfolio provides optionality Eagle Ford Shale and Kaybob Duvernay in all price…
  28. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 28
    Offshore Development Opportunities Multi-Year Inventory of High-Return Projects Diversified, Low Breakeven Opportunities in Offshore Portfolio Multi-year inventory of identified offshore projects in current portfolio Maintaining annual…
  29. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 29
    North America Onshore Well Locations Tupper Montney Well Locations Inter-Well Gross Remaining Area Net Acres Spacing (ft) Locations Eagle Ford Shale Operated Well Locations Tupper Montney 118,235 984-1323 993 Inter-Well Gross…
  30. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 30
    Eagle Ford Shale Peer Acreage Acreage as of August 1, 2023 www.murphyoilcorp.com NYSE: MUR 38
  31. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 31
    Kaybob Duvernay Peer Acreage HALO GMT HITIC KAYBOB EAST Crescent Murphy Point Paramount Whitecap Crescent Point PARAMOUNT Chevron Kiwetinohk CENOVUS PCC PCC KAYBOB WEST Cenovus GMT KEYERA Hitic SIMONETTE Halo Open…
  32. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 32
    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…
  33. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 33
    Placid Montney Peer Acreage CNRL ARC HALO KAYBOB EAST PARAMOUNT HWN Murphy ENERGY RIDGEBACK ARC Cenovus CNRL KAYBOB WEST KEYERA Halo SIMONETTE HWN Energy I3 I3 Energy SAXON Kiwetinohk RAZOR Paramount PGI…
  34. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 34
    Gulf of Mexico Murphy Blocks Gulf of Mexico Assets PRODUCING ASSETS Asset Operator Murphy WI1 Eden Park Dalmatian S. Calliope Murphy 29% VK DD Cascade Murphy 80% Silver Dollar Chinook Murphy 86% Silver Dollar West Clipper Murphy…
  35. 2Q 2023 Earnings Presentation – 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. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 36
    Exploration Update Gulf of Mexico Gulf of Mexico Exploration Area Interests in 109 Gulf of Mexico OCS Blocks Eden Park Dalmatian S. VK DD 610,000 total gross acres Silver Dollar Silver Dollar West 65 exploration blocks…
  37. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 37
    Exploration Update Salina Basin, Mexico Salina Basin Block 5 Overview Murphy 40% (Op), PC Carigali Mexico 30%, Wintershall Dea 30% Jokol Proven oil basin in proximity to multiple oil Block 5 discoveries in Miocene section Najaal…
  38. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 38
    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 gross acres 2.8 BN BOE discovered in basin…
  39. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 39
    Exploration Update Potiguar Basin, Brazil Potiguar Basin Asset Overview Murphy WI Block Murphy 100% (Op) Other Block Discovered Field Hold WI in 3 blocks, spanning 775 M Kilometers gross acres 0 50 Proven oil basin in…
  40. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 40
    Exploration Update Cuu Long Basin, Vietnam Asset Overview Cuu Long Basin BLOCK 15-01/05 LAC DA TRANG Murphy 40% (Op), PetroVietnam Exploration NORTH WEST SU TU VANG Production 35%, SK Earthon 25% LAC DA TRANG WEST Block 15-1/05…
  41. 2Q 2023 Earnings Presentation – Murphy Oil Corp – slide 41
    2023 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 3, 2023 ROGER W. JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 49

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