2024 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 8, 2024 ROGER W. JENKINS CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 1
Advancing Strategic Priorities DELEVER EXECUTE EXPLORE RETURN Lowered debt by 50 MM Produced 181 MBOEPD with Drilled discovery at non-op Accelerated Shareholder through open market 91 MBOPD, or 50 percent, oil Ocotillo 1 well in…
Accelerating Shareholder Returns With Revised Capital Allocation Framework1 Adjusted Free Cash Murphy 3.0 Flow Formula Murphy 2.0 Long-term debt Murphy 1.0 1.3 BN Long-term debt Long-term debt of 1.3 BN 1.8 BN Cash Flow From…
Production, Pricing and Revenue Generating Solid Revenue From Oil Production 2Q 2024 Production 2Q 2024 Revenue by Area by Area Onshore Canada Eagle Ford Shale 72 MM Eagle Ford Shale 157 MM 27,900 BOEPD 10% 15% 21% Onshore…
Financial Results Generating Income to Support Corporate Priorities 2Q 2024 Financial Results Net Income Attributable to Murphy 2Q 2024 (MM Except Per Share) Net income 128 MM; adjusted net income 124 MM Income (loss) 128 EBITDA 389…
Financial Results Targeting Lower Debt with Ample Liquidity Solid Foundation to Withstand Commodity Price Debt Maturity Profile1 MM Cycles 1,250 1.1 BN of liquidity on June 30, 2024 1,000 750 Includes 800 MM senior unsecured credit…
Highlights From Our 2024 Sustainability Report CONTINUED POSITIVELY IMPACTING OUR STRONG ENVIRONMENTAL STEWARDSHIP PEOPLE AND COMMUNITIES GOVERNANCE OVERSIGHT ADVANCING OUR CLIMATE GOALS CONSISTENTLY Well-defined BOARD AND…
Eagle Ford Shale Enhancing Portfolio Through Strong Execution Eagle Ford Shale Acreage 2Q 2024 28 MBOEPD, 71% Oil, 86% Liquids 11 operated wells online in Catarina 4 gross non-operated wells online in Tilden KARNES 3Q 2024 Plan…
Tupper Montney Completions Design Drives Ongoing Strong Well Performance 2Q 2024 400 MMCFD Net, 100% Natural Gas Tupper Montney Acreage 13 operated wells online TUPPER WEST Completed 2024 well delivery program Achieved record high…
Kaybob Duvernay Future Oil-Weighted Optionality Preserved Kaybob Duvernay Acreage 2Q 2024 4 MBOEPD, 72% Liquids KAYBOB NORTH 3 operated wells online in Kaybob West KAYBOB EAST Completes 2024 well delivery program Strong Performance…
Offshore Update Focusing on Executing Highly-Accretive Development Projects Total Offshore 2Q 2024 81 MBOEPD, 83% Oil Highly-Accretive Development and Tieback Projects Gulf of Mexico 2Q 2024 74 MBOEPD, 82% Oil Field Drilling…
2024 Offshore Workovers and Projects Execution Update Completed Workovers and Projects Operated Workovers and Projects 68 MM 2Q 2024 total workover expense Net Field Location Project Online Production Status Operated Neidermeyer 1…
Lac Da Vang Field Development Project Cuu Long Basin, Vietnam Cuu Long Basin Lac Da Vang Field Development Overview BLOCK 15-01/05 LAC DA TRANG NORTH WEST SU TU VANG Murphy 40% (Op), PetroVietnam Exploration LAC DA TRANG Production…
Exploration Update Gulf of Mexico FY 2024 Exploration Results Gulf of Mexico Exploration Area Drilled discovery at Ocotillo 1 (Mississippi Ocotillo Orange VK DD Canyon 40) Silver Dollar Oxy 33% (Op), Murphy 33%, Chevron 34%…
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 30 MM total…
Development and Exploration Update Tano Basin, Cte dIvoire Asset Overview Tano Basin 1.5 MM gross acres, equivalent to 256 Gulf of Mexico blocks CTE DIVOIRE GHANA CI-102 Seismic reprocessing ongoing; final data expected 4Q 2024…
LOOKING AHEAD www.murphyoilcorp.com NYSE: MUR 20
2024 Capital and Production Plan Prioritizing Capital To Maximize Production and Adjusted Free Cash Flow1 3Q 2024 Guidance FY 2024E CAPEX FY 2024E Production By Area By Area 181.5 189.5 MBOEPD production, 91.5 MBOPD 3% or 50% oil,…
Disciplined Strategy Leads to Long-Term Value With Current Assets DELEVER EXECUTE EXPLORE RETURN NEAR-TERM LONG-TERM Reducing debt to reach 1.0 BN debt target in mid-20251 with no debt Realizing average annual production of 210-220…
Delivering On 2024 Goals Accelerating shareholder returns by revising capital allocation framework Exceeding production guidance across onshore assets Advancing Gulf of Mexico well program Expanding Gulf of Mexico portfolio…
2024 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 8, 2024 ROGER W. JENKINS CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 24
3Q 2024 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 23,800 4,400 25,200 32,400 Gulf of Mexico excluding NCI1 54,900 4,300 55,400 68,400 Canada Tupper Montney 400 417,500 70,000 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 162 C2.39 7/1/2024 12/31/2024 Natural Gas Fixed Price…
2023 Proved Reserves Maintaining Proved Reserves and Reserve Life Total proved reserves 724 MMBOE at YE 2023 vs 697 MMBOE at YE 2022 2023E Proved Reserves By Area Achieved 139% total reserve replacement Added 13 MMBOE of proved…
North America Onshore Locations More Than 50 Years of Robust Inventory with Low Breakeven Rates Diversified, Low Breakeven Portfolio Eagle Ford Shale and Kaybob Duvernay Multi-basin portfolio provides optionality in 25 years of…
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…
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 - 1,323 976 Inter-Well Gross…
Eagle Ford Shale Peer Acreage Acreage as of August 6, 2024 www.murphyoilcorp.com NYSE: MUR 38
Kaybob Duvernay Peer Acreage Murphy Paramount Whitecap Crescent Point Chevron Kiwetinohk PCC Cenovus GMT Hitic Halo Cygnet Duvernay Energy Open Crown Other Leased Battery Facility 6 Miles Acreage as of August…
Gulf of Mexico Murphy Blocks PRODUCING ASSETS Gulf of Mexico Exploration Area Asset Operator Murphy WI1 Ocotillo Cascade Murphy 80% VK Chinook Murphy 86% Silver Dollar Clipper Murphy 80% Silver Dollar West Dalmatian Murphy 56%…
Exploration Update 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 gross acres 2.8 BN BOE discovered in basin…
Exploration Update Potiguar Basin, Brazil Asset Overview Potiguar Basin Murphy 100% (Op) Murphy WI Block Other Block Hold WI in 3 blocks, spanning 775 M Discovered Field gross acres Kilometers Proven oil basin in proximity to…
2024 SECOND QUARTER EARNINGS CONFERENCE CALL & WEBCAST AUGUST 8, 2024 ROGER W. JENKINS CHIEF EXECUTIVE OFFICER www.murphyoilcorp.com NYSE: MUR 44
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