Murphy at a Glance Murphy is an independent exploration and production company, producing in three areas with an advantaged portfolio and exploration upside 3Q 2023 Production1 Onshore United States Eagle Ford Shale on private lands…
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…
Highlights From 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…
Advancing Strategic Priorities DELEVER EXECUTE EXPLORE Advanced Murphy 2.0 capital allocation Exceeded upper end of guidance range with production Commenced multiple seismic reprocessing framework of 202 MBOEPD, including 103 MBOPD in…
Long History of Benefitting Shareholders Paying dividends for 60-year history 6.9 Billion Maintaining balance sheet integrity with no equity issuances Returned to Shareholders Since 1961 Peer Cumulative Shareholder Returns vs…
Executing Capital Allocation Framework1 Increasing Shareholder Returns Beyond Quarterly Dividend Murphy 2.0 Long-Term Debt of 1.0 BN 1.8 BN 75% of adjusted FCF allocated to debt reduction 25% distributed through share buybacks and…
Capital Allocation Priorities Reducing Long-Term Debt, Increasing Shareholder Returns Beyond Quarterly Dividend With Framework1 525 MM Remaining Share Repurchase Program2 Authorized by Board Adjusted Free Cash Flow Formula Cash Flow…
Eagle Ford Shale Enhancing Portfolio and Production Through Strong Execution, Improved Completions 3Q 2023 38 MBOEPD, 88% Liquids Eagle Ford Shale Acreage 7 operated wells online 4 Catarina, 3 Tilden Operated activity complete for FY…
Tupper Montney New Completions Design Drives Strong Well Performance 3Q 2023 414 MMCFD Net Tupper Montney Acreage Activity complete for FY 2023 New Completions Design Enhancing Well Performance Producing 2 of top 10, and 4 of top 15,…
Kaybob Duvernay Future Oil-Weighted Optionality Preserved 3Q 2023 5 MBOEPD, 67% Liquids Kaybob Duvernay Acreage Closed divestiture of non-core portion of assets Produced 1.7 MBOEPD, 39% oil Received net cash proceeds of 103 MM Robust…
Offshore Update Executing Accretive Development Projects 3Q 2023 89 MBOEPD, 81% Oil Total Offshore Well performance continuing to exceed expectations Development and Tieback Projects Operated Dalmatian 1 (DeSoto Canyon 90) well online…
Offshore Workover Projects Execution Update Well Workover Projects Operated Workover Projects Operated Neidermeyer 1 well workover scheduled for Net mid-2024 Field Location Project Online Production Operated Dalmatian 2 subsurface…
Lac Da Vang Field Development Project Cuu Long Basin, Vietnam Lac Da Vang Field Development Overview Cuu Long Basin BLOCK 15-01/05 LAC DA TRANG Murphy 40% (Op), PetroVietnam Exploration NORTH WEST SU TU VANG Production 35%, SK…
Paon Field Development Project Tano Basin, Cte dIvoire Tano Basin Block CI-103 CTE DIVOIRE GHANA Murphy 85% (Op), PETROCI1 15% CI-102 Includes undeveloped Paon discovery CI-531 Baleine Commitment to submit viable field CI-502…
Exploration Update Cuu Long Basin, Vietnam Cuu Long Basin Asset Overview BLOCK 15-01/05 LAC DA TRANG NORTH WEST SU TU VANG Murphy 40% (Op), PetroVietnam Exploration LAC DA TRANG Production 35%, SK Earthon 25% WEST Block…
Exploration Update Tano Basin, Cte dIvoire Tano Basin Asset Overview CTE DIVOIRE GHANA 1.5 MM gross acres, equivalent to 256 CI-102 Gulf of Mexico blocks Baleine CI-531 Initiated seismic reprocessing CI-502 Jubilee Adjacent to oil…
Exploration Update Advancing Gulf of Mexico Operated Exploration Plans Gulf of Mexico Exploration Area Oso 1, Atwater Valley 138 Murphy 33.34% (Op) Eden Park Dalmatian S. VK DD Silver Dollar Non-commercial hydrocarbons present, well…
LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 23
2023 Capital and Production Plan Increasing Oil-Weighted Production With Disciplined Spending FY 2023E Production 4Q 2023 Guidance By Area 181.5 189.5 MBOEPD1 18% 95 MBOPD or 51% oil, 57% liquids volumes Includes: 186 47% 1.5…
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…
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…
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…
Positioned for Long-Term Value Creation 1 Diverse, multi-basin portfolio with significant inventory of low-breakeven wells and projects 2 Targeted low-cost exploration optionality provides upside and longevity 3 Ongoing…
INVESTOR UPDATE JANUARY 2024 www.murphyoilcorp.com NYSE: MUR 29
4Q 2023 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 22,800 5,000 27,300 32,400 Gulf of Mexico excluding NCI1 66,300 4,800 64,000 81,800 Canada Tupper Montney 380,300 63,400 Kaybob…
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 10/1/2023 12/31/2023 Natural Gas Fixed Price…
Financial Results Strengthening Balance Sheet Debt Maturity Profile1 Solid Foundation to Weather Commodity MM Price Cycles 1,500 1.1 BN of liquidity on Sept 30, 2023 1,250 1,000 Includes 800 MM senior unsecured credit facility 750…
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…
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…
Eagle Ford Shale Peer Acreage Acreage as of November 1, 2023 www.murphyoilcorp.com NYSE: MUR 37
Kaybob Duvernay Peer Acreage Murphy Paramount Whitecap Crescent Point Chevron Kiwetinohk PCC Cenovus GMT Hitic Halo Cygnet Open Crown Other Leased Battery Facility 6 Miles Acreage as of November 1, 2023…
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…
Offshore Canada Completing Terra Nova Asset Life Extension Project Terra Nova Field, Offshore Canada Terra Nova FPSO Suncor 48% (Op), Cenovus 34%, LABRADOR Murphy 18% QUEBEC Asset life extension project returned to production…
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…
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…
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…
INVESTOR UPDATE JANUARY 2024 www.murphyoilcorp.com NYSE: MUR 45
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