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BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp

Murphy Oil Corp · Sep 3, 2014 · 43 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. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 1
    BARCLAYS CEO ENERGY-POWER CONFERENCE SEPTEMBER 3, 2014 ROGER JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 1
  2. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 2
    Agenda One Year of Progress Investing in Murphy Adding Value with Our North America Portfolio Executing Projects in the Global Offshore Creating a High Impact Exploration Program MURPHY OIL CORPORATION www.m urp h yo i lc o…
  3. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 3
    One Year of Progress U.S. RETAIL SPIN-OFF COMPLETED A YEAR AGO MUSA Market Cap 2.47 Billion as of Aug 25, 2014 U.K. DOWNSTREAM Milford Haven Refinery Retail Network Signed Asset Sales Agreement Signed Asset Sales Agreement…
  4. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 4
    One Year of Progress NORTH AMERICA ONSHORE Eagle Ford Shale Largest Field in Company History with Increasing Resource Base Montney Drill to Fill Seal EOR Piloting GLOBAL OFFSHORE Siakap North-Petai Dalmatian Completed the Field…
  5. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 5
    INVESTING IN MURPHY MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 6
  6. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 6
    Key Segments of Our Strategy EXPLORATION Needle Moving Portfolio OPERATIONS ABILITY History of Offshore New Onshore Capability PREFERRED PARTNER Efficient & Commercially Focused VALUE Diverse & Highly Profitable Oil…
  7. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 7
    MUR Reasons to Invest Top Quartile Dividend Yield with 1 Share Repurchase Program 2 Highly Profitable Production & Reserve Growth 3 Top Quartile Cash Flow Metrics Eagle Ford Shale Profitable, 4 Reliable, De-Risked Growth…
  8. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 8
    Continued Shareholder Focus Regular Dividends*, /sh Dividend Growth 1.60 1.40 0.15/sh Increase to 1.40/sh 1.20 Announced Aug 6, 2014 1.00 0.80 0.60 Share Repurchase Program 0.40 Completed 1.125 Billion 0.20 Acquired 18 Million…
  9. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 9
    Leading Production Growth Production (2008-2013), MBOEPD 250 200 220 to 225 60% Increase 2008 to 2013 150 100 80% Oil & Oil-Indexed Gas 50 0 2008 2009 2010 2011 2012 2013 2014E 5-Year Production CAGR (2008-2013), MBOEPD…
  10. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 10
    Leading Reserves Growth Proved Reserves (2008-2013), MMBOE 5 Year Avg Replacement 180% 800 700 Strong 2013 600 240% Organic Replacement 500 R/P Improves to 9.2 years 400 300 2014 On-Track for 175% 200 Oil-Weighted Portfolio 100 60%…
  11. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 11
    Delivering Volume with Value Production Growth Reserves Life Increasing 235 PRODUCTION, MBOEPD Proved Reserves, % Change 2011 to 2013 40% 215 195 30% MUR 175 155 20% MRO 135 NBL 115 10% OXY APC 95 COP EOG 75 0% 2007 2008 2009…
  12. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 12
    Creating Value in U.S. Unconventional Exploration 4 Full-Cycle Value Created/Lease & Exploration Spend ( Created/ Spent) Global Explorer Peer Group 3 Successful Fast Follower 2 Low Exploration & Acquisition Costs MUR…
  13. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 13
    Historical Strong Cash Flow Metrics Continue into 2014 Average EBITDAX/BOE (2009-2013) 100% Oil & Liquids Production Weighting (2013) 60 50 80% 43.92 13% SK Gas Oil-Indexed 40 60% 66% 30 MUR 40% MUR 20 20% 10 0 0%…
  14. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 14
    Wellhead Netback Prices (/bbl) 115 110 105 100 95 90 85 80 75 70 Q2 2014 Q3 2014 (Est.) Brent MUR GOM MUR EFS EFS* MUR Kikeh Midland Basin* Bakken* Niobrara* *From Wood Mackenzie Ltd., Intercontinental…
  15. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 15
    Portfolio of Sustainable Growth 5.1 BBOE Risked Exploration 1.2 BBOE 3.9 BBOE Transparent Progression of Resource 3.6 BBOE Risked Pipeline Exploration Risked 0.8 BBOE Exploration Expanded Resource Pipeline by 42% 0.7 BBOE In…
  16. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 16
    Investing in Oil-Weighted Growth 2014 Total Capex, 3.8 Billion 15% 2014 Focus Exploration Field Development Eagle Ford Shale 57% 28% Development Drilling Malaysia Oil Gulf of Mexico 2014 Development, 3.2 Billion 2014…
  17. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 17
    Financial Stability LTD-to-Cap Net Debt-to-Cap 31% 26% 22% 20% Liquidity Sources 16% 11% Cash Flow 3% Revolver UK Downstream Sale YE 2011 YE 2012 YE 2013 2Q 2014 Source: Evaluate Energy Net Debt-to-Cap (2Q 2014) Investment…
  18. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 18
    NORTH AMERICA ONSHORE MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 19
  19. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 19
    Eagle Ford Shale - Running Room 0 10 mi NORTH TILDEN 200 Wells CATARINA Brought On by KARNES Year-End TILDEN 10+ Years Drilling Inventory at Murphy Acreage Current Pace Lower EFS Op & Lower EFS Spacing Lower EFS Wells Upper EFS…
  20. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 20
    EFS - 5 Years of Progress Net, MBOEPD Op Well Count 60 600 50 500 Continued Production Growth 40 400 30 300 Free Cash Flow in Sight 20 200 Strong Margins 10 100 0 0 Leading EURs with Choke Management 2010 2011 2012 2013…
  21. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 21
    EFS - Continuous Improvement Total Operating Costs*, /BOE 40 35 Driving Operating Costs Down 30 25 20 Lower D&C Costs 15 10 50% Spud to TD Improvement Since 2010 5 0 2011 2012 2013 2014E * All Field Costs Including LOE,…
  22. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 22
    Lower EFS Optimizing Well Spacing by Area 100 00 EUR and NPV Per Section 100 ,000 900 0 EUR (MBO) 90,0 00 800 0 NPV10(M) 80,0 00 700 0 70,0 00 16 Wells per Section in Lower EFS Appraising Optimal Spacing 600 0 60,0…
  23. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 23
    Upper EFS Well Performance & Upside Karnes Upper vs. Lower Wells Upper EFS Performance 300 3 Years History on 60+ acre Spacing in Karnes & Catarina 250 Initial Tilden Results On-Track 200 Tracking Offset Lower EFS Well…
  24. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 24
    Upper EFS Pilots Staggered Upper & Lower New Test Pads Stagger Upper & Lower Laterals Approximates 20 Acre Downspacing Pilots in Karnes, Tilden & Catarina Same Value Drivers as Lower EFS to Ensure Efficient Capital Allocation…
  25. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 25
    Catarina Successful Exploitation D&C Costs & EUR per Well 0 10 mi 8 340 7 330 D&C (Millions) 6 320 EUR (Mboe) 5 310 CATARINA 4 300 3 290 2 280 1 270 0 260 2012 2013 2014E Murphy Acreage Drilling Costs Completion…
  26. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 26
    EFS - Resource Potential 800 730 MMBOE DS 700 56 Unrisked 800 600 Downspacing & WELLS Performance 230 U 174 500 DS 400 107 Expected 1,123 291 170 WELLS 300 O/s 14 200 Developed U Proved 863 93 100 208 115 WELLS…
  27. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 27
    Montney 3 Rigs Working 6.5 BCF + 20 New Wells Online in 2014 Recent Successes 5-6 BCF 6.5 BCF + 5-6 MMCFD 2400 psi 1 Well 11 MMCFD New Completions ROR 20% 500 Potential Core Locations 5-6 BCF 3rd Party Gas Processing…
  28. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 28
    Seal Long Term EOR Focus 6 Billion BBL Oil-In-Place Significant Reserve Upside Focus on Thermal EOR Cadotte Thermal CSS Pilot On Track Thermal Cadotte Commercial Development Targets 36 MMBO Recoverable Oil Central Next…
  29. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 29
    GLOBAL OFFSHORE MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 30
  30. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 30
    Progressing Growth in Global Offshore Block K - Malaysia Kikeh Continue Field Development Work Siakap North-Petai Completed All Well Work in July Achieved 35,000 BOPD Gross Deliverability Target Kakap-Gumusut Progressed…
  31. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 31
    Deepwater Project Execution Ability Average Well Cost Discovery to First Production 100.0 80.0 Industry Avg 8.0 Years 60.0 MM FPSO 40.0 MURPHY MUR Avg 4.8 Years 20.0 39% FASTER MUR 0.0 100.0 Average Drill Time…
  32. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 32
    Recent Project Sanction to Deliverability BOEPD Production Deliverability /BOE DD&A Rate 40,000 60 35,000 35,000 35,000 50 30,000 48 40 25,000 39 35 20,000 21,333 21,700 30 32 29 27 15,000 15,833 20 13,250 10,000 17 10,000…
  33. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 33
    Gulf of Mexico Dalmatian DALMATIAN Murphy Leasehold Mid-Lwr Subsalt Play Dalmatian North Murphy HBP Upper Miocene Amplitude Play Murphy Facility Jurassic Norphlet Play Dalmatian Dalmatian Dalmatian South 70% W.I.…
  34. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 34
    Gulf of Mexico - Medusa 0 2,000 4,000 FEET MEDUSA SPAR Manifold Medusa Expansion Project Murphy Leasehold 60% W.I. (Operator) Mid-Lwr Subsalt Play Murphy HBP Current Field Two Wells Upper Miocene Amplitude Play Phase…
  35. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 35
    Long Term Oil-Indexed Gas Partnered with PETRONAS Global Leader in LNG MMCFD 800 SK Gas 1.5 TCF EUR Resource 700 1.1 TCF Proven & Certified 600 Block H 500 Phase I Rotan & 3 Satellite Fields 400 905 BCF Gross Reserves 300…
  36. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 36
    EXPLORATION MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 37
  37. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 37
    Exploration Renewed Strategy Focus Regions New Rules of Road No 100% Wildcat Wells Partner Required for New Country Entry & Well Commitments Lower W.I. % & Participate in More Wells Gulf of Mexico Southeast Asia Strong History…
  38. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 38
    2014 2015 Exploration Program 2014 2015 Area Prospect 3Q 4Q 1Q 2Q GULF OF MEXICO Titan-1 / ST Urca GOM Wells AUSTRALIA Perth Basin Ceduna Basin MALAYSIA Sarawak Block H NV OPPORTUNITIES Under Evaluation Drilling…
  39. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 39
    GOM: Norphlet Play Jupiter Grand Banks 3 Miles Norphlet Play Titan TITAN SOUTH Titan South Currently Drilling Fountain Antietam Shiloh Vicksburg A&B Appomattox Gettysburg RK Fredricksburg Rydberg Deep Raptor…
  40. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 40
    GOM: Urca Stand Alone Prospect Near Infrastructure Targeting Oil in Murphy Leasehold Miocene Mid-Lwr Subsalt Play Reservoirs Murphy HBP Upper Miocene Amplitude Play Murphy Facility Gross Mean Jurassic Norphlet Play Resource 130…
  41. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 41
    GOM: Miocene Amplitude Play Miocene Prospect Map Longspur Salt Salt Sea Eagle Amplitude Driven Miocene Stratigraphic Plays Whydah Predominately Oil with Some Gas Mensa Thunder Hawk Gross Mean Resource Near 300 MMBOE in…
  42. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 42
    GOM: Whydah Area Prospect Potential Murphy Leasehold Targeting Oil in Mid-Lwr Subsalt Play Murphy HBP Miocene Amplitude Upper Miocene Amplitude Play Prospect WHYDAH Murphy Facility Jurassic Norphlet Play Gross Mean Resource 90…
  43. BARCLAYS CEO ENERGY POWER CONFERENCE – Murphy Oil Corp – slide 43
    GOM: Sea Eagle MC692 Murphy Leasehold Mid-Lwr Subsalt Play MUR 50% W.I. (Operator) Murphy HBP Upper Miocene Amplitude Play Gross Mean Resource 100 SEA EAGLE Murphy Facility MMBOE Jurassic Norphlet Play Mid-Miocene Stratigraphic…

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