INVESTOR UPDATE SEPTEMBER 2024 www.murphyoilcorp.com NYSE: MUR 1
Agenda 01 04 Murphy at a Glance Murphy Exploration 02 05 3Q 2024 Update Looking Ahead 03 06 Murphy 2024 Plan Appendix www.murphyoilcorp.com NYSE: MUR 3
Murphy at a Glance Murphy is an independent exploration and production company, with a diverse portfolio that provides exploration upside Multi-Basin Production 2Q 2024 Production1 Gulf of Mexico Offshore Canada Onshore United States…
Allocate Capital to Maximize Free Cash Flow 85% of capital is for development1 Execute accretive Gulf of Mexico projects Current portfolio provides multi-year inventory of high-return projects Maintain onshore production Eagle…
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…
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…
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…
2024 Sustainability Report Highlights CONTINUED POSITIVELY IMPACTING OUR STRONG ENVIRONMENTAL STEWARDSHIP PEOPLE AND COMMUNITIES GOVERNANCE OVERSIGHT ADVANCING OUR CLIMATE GOALS Well-defined CONSISTENTLY BOARD AND MANAGERIAL GHG…
3Q 2024 UPDATE www.murphyoilcorp.com NYSE: MUR 10
Whats New in 3Q 2024 Gulf of Mexico Operations Update Share Repurchase1 Brought online the following as planned: Repurchased 94 MM of stock, or 2.5 MM shares, at Operated Mormont 3 well an average price of 37.93 / share Operated…
MURPHY 2024 PLAN www.murphyoilcorp.com NYSE: MUR 12
2024 Capital and Production Plan Prioritizing Capital To Maximize Production and Adjusted Free Cash Flow1 3Q 2024 Guidance FY 2024E Production By Area 181.5 189.5 MBOEPD production, 91.5 MBOPD or 50% oil, 54% liquids volumes 16%…
2024 North America Onshore Plan Balancing Investments for Free Cash Flow Generation 98 MBOEPD Forecast for FY 2024 FY 2024E Wells Online 30 25% oil volumes, 30% liquids volumes 25 Eagle Ford Shale 20 20 operated wells online 15 15…
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 Gulf of Mexico Offshore Workovers and Projects Workovers and Projects Update 2024 Plan Complete Operated Workovers and Projects 68 MM 2Q 2024 total workover expense Net Field Location Project Online Production Status 35 MM 3Q…
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 Gulf of Mexico Exploration Area Sebastian 1 (Mississippi Canyon 387) Ocotillo VK DD Murphy 33% (Op) Silver Dollar New exploration opportunity near existing Silver Dollar…
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 22
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…
INVESTOR UPDATE SEPTEMBER 2024 www.murphyoilcorp.com NYSE: MUR 25
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 Well Locations Eagle Ford Shale Operated Well Locations Tupper Montney Well Locations Inter-Well Gross Remaining Inter-Well Gross Remaining Area Net Acres Spacing (ft) Locations Area Net Acres Reservoir Spacing…
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…
Eagle Ford Shale Peer Acreage Acreage as of August 6, 2024 www.murphyoilcorp.com NYSE: MUR 34
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 DD Chinook Murphy 86% Silver Dollar Clipper Murphy 80% Silver Dollar West Dalmatian Murphy…
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…
INVESTOR UPDATE SEPTEMBER 2024 www.murphyoilcorp.com NYSE: MUR 40
Loading...
