INVESTOR UPDATE MARCH 2025 www.murphyoilcorp.com NYSE: MUR 1
Agenda 01 04 Murphy at a Glance Exploration 02 05 Murphy Priorities Looking Ahead 03 06 2025 Capital and Production 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 FY 2024 Production1 Gulf of America Offshore Canada Onshore United States…
Advancing Strategic Priorities DELEVER EXECUTE EXPLORE RETURN Reduced debt by 50 MM in Produced 177 MBOEPD in FY 2024 Drilled oil discovery at Hai Su Advanced Murphy 3.0 of FY 2024 Vang-1X (Golden Sea Lion) Preparing for Lac Da…
Delivering Shareholder Returns Within 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 Operations…
Financial Results Strong Balance Sheet Provides Financial Flexibility for Strategic Priorities Enhancing Financial Position Through Capital Markets Bond Maturity Profile1 MM Transactions in 2024 700 Long-Term Debt Profile1 Reduced debt…
Long History of Enhancing Shareholder Returns Continued Focus on Share Repurchases Total Shares Outstanding by Year Since 2013 MM shares and Dividend Increases 190 Reduced share count by 20% since 2013 180 Returned 80% of adjusted…
Natural Gas Marketing Strategy Provides Price Diversification Continuing to mitigate price exposure to AECO in Tupper Montney Canadian Natural Gas Market Sales Points asset through diversification Canada currently produces 18 BCFD…
2025 CAPITAL AND PRODUCTION PLAN www.murphyoilcorp.com NYSE: MUR 11
2025 Capital Plan Allocating Capital to Develop Assets and Increase Future Resource Potential Executing Highly-Accretive Projects FY 2025E CAPEX FY 2025 guidance 1,135 MM 1,285 MM CAPEX By Area 60% of spend is in 1H 2025 2% 85% of…
2025 Production Plan Forecasting Production Growth Across Portfolio 1Q 2025 Production Guidance 159 167 MBOEPD FY 2025E Production By Area 83.5 MBOPD or 51% oil, 57% liquids Impacted by: 19% 4.4 MBOEPD of planned operated onshore…
2025 Eagle Ford Shale Plan Enhancing Portfolio Through Capital Efficiency Gains Eagle Ford Shale Acreage 360 MM 2025 Capital Budget, 33 MBOEPD 75% oil, 88% liquids 35 operated wells online 18 Karnes, KARNES 13 Catarina, 4 Tilden wells…
2025 Tupper Montney Plan Capital Efficiencies Gained Through Improved Field Development Plan 85 MM 2025 Capital Budget, 375 MMCFD Tupper Montney Acreage 10 operated wells online TUPPER WEST Assumes C2.73 / MMBTU AECO and 6.7% royalty…
2025 Kaybob Duvernay Plan Future Oil-Weighted Optionality 55 MM 2025 Capital Budget, 5 MBOEPD Kaybob Duvernay Acreage KAYBOB NORTH 64% oil, 74% liquids 4 operated wells online KAYBOB EAST 2 operated wells drilled for 2026…
2025 Offshore Plan Executing Highly-Accretive Development Projects 545 MM 2025 Offshore Capital Budget Operated 2025 Gulf of America Projects 78 MBOEPD Forecast for FY 2025 Field / Facility Activity Online 410 MM for Gulf of America,…
Lac Da Vang (Golden Camel) Field Development Project Update Cuu Long Basin, Vietnam Field Overview Cuu Long Basin Murphy 40% (Op), PetroVietnam Exploration Production 35%, SK Planned Well LAC DA CAM SU TU VANG Earthon 25% Murphy WI…
EXPLORATION www.murphyoilcorp.com NYSE: MUR 19
2025 Gulf of America Exploration Plan Focused on Low-Risk, Infrastructure-Led Exploration 2025 Exploration Plan Gulf of America Exploration Area Prospects located near Murphy-operated Ocotillo 1 Delta House FPS1 Silver Dollar…
Hai Su Vang-1X (Golden Sea Lion) Discovery Update Cuu Long Basin, Vietnam Cuu Long Basin Hai Su Vang-1X (Golden Sea Lion) Oil Discovery, Block 15-2/17 Discovery Well SU TU VANG LAC DA CAM COMPLEX Planned Well Murphy 40% (Op),…
2025 Vietnam Exploration Plan Significant Resource Upside in Offshore Vietnam Cuu Long Basin Lac Da Hong-1X (Pink Camel) Exploration Well SU TU VANG Block 15-1/05, Murphy 40% (Op), PetroVietnam Discovery Well Planned Well LAC DA…
North America Onshore Locations 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 20 years of inventory < 50 /…
Offshore Development Opportunities Multi-Year Inventory of High-Return Projects Diversified, Low Breakeven Opportunities in Offshore Portfolio Resources To Be Developed By Year Percent MMBOE by Year Multi-year inventory of identified…
Near-Term Strategy Maintaining Modest Production Growth From Current Assets While Testing Material Upside 2025-2026 Asset Plan Existing Producing Assets Near-Term Organic Growth Generating Low, Single-Digit Production Growth…
Sets Up For Long-Term Success Multi-Basin Portfolio Provides Long Runway of Opportunities Long-Term Asset Plan Existing Producing Assets Future Organic Growth Prioritizing offshore growth while maintaining onshore investment…
INVESTOR UPDATE MARCH 2025 www.murphyoilcorp.com NYSE: MUR 29
1Q 2025 Guidance Oil NGLs Gas Total Producing Asset (BOPD) (BOPD) (MCFD) (BOEPD) US Eagle Ford Shale 18,300 4,000 21,400 25,900 Gulf of America excluding NCI1 51,400 4,700 57,500 65,700 Canada Tupper Montney 400 - 336,000 56,400…
Current Fixed Price Contracts AECO Price Risk Mitigation Tupper Montney, Canada Volumes Price Commodity Type (MMCF/D) (MCF) Start Date End Date Natural Gas Fixed Price Forward Sales at AECO1 40 C2.75 1/1/2025 12/31/2025 Natural Gas…
Ongoing Commitment to Sustainability Goals Acting to Support All Stakeholders CONTINUED POSITIVELY IMPACTING OUR STRONG ENVIRONMENTAL STEWARDSHIP PEOPLE AND COMMUNITIES GOVERNANCE OVERSIGHT ADVANCING OUR CLIMATE GOALS Well-defined…
2024 Proved Reserves Maintaining Proved Reserves and Reserve Life Total proved reserves of 713 MMBOE at YE 2024, 83% total reserve 2024 Proved Reserves By Area replacement Added 12 MMBOE of proved reserves for non-operated St. Malo…
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 - 1,323 750 Inter-Well Gross…
Eagle Ford Shale Peer Acreage Acreage as of Jan 28, 2025 www.murphyoilcorp.com NYSE: MUR 39
Kaybob Duvernay Peer Acreage Murphy Paramount Whitecap Veren CNRL Kiwetinohk PCC Cenovus GMT Hitic Halo Logan Cygnet Duvernay Energy Open Crown Other Leased Battery Facility 6 Miles Acreage as of Jan 28,…
Gulf of America Murphy Blocks PRODUCING ASSETS Gulf of America Exploration Area Asset Operator Murphy WI1 Ocotillo 1 Cascade Murphy 80% 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…
INVESTOR UPDATE MARCH 2025 www.murphyoilcorp.com NYSE: MUR 45
Loading...
