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Fourth Quarter 2014 – Murphy Oil Corp

Murphy Oil Corp · Jan 29, 2015 · 18 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. Fourth Quarter 2014 – Murphy Oil Corp – slide 1
    FOURTH QUARTER 2014 EARNINGS CONFERENCE CALL & WEBCAST JANUARY 29, 2015 MURPHY OIL CORPORATION www.m urp h yo i lc o rp.c om NYSE: MUR 1
  2. Fourth Quarter 2014 – Murphy Oil Corp – slide 2
    Financial Overview Full Yr. Full Yr. ( Millions) 4Q 2013 4Q 2014 2013 2014 Consolidated Net Income 75.4 375.2 1,123.5 905.6 Adjusted Earnings 4Q 14 /Diluted Share 0.40 2.10 5.94 5.03 Gain on Sale of 20% Malaysia Continuing…
  3. Fourth Quarter 2014 – Murphy Oil Corp – slide 3
    4Q & Full Year 2014 - Highlights Portfolio Optimization Sold 30% of Murphy Malaysia for 2.0 billion Closed 20% Dec 18, 2014; 10% Jan 29, 2015 Closed on U.K. Retail Sale Sep 30th Decommission Milford Haven Refinery; Plan to Sell…
  4. Fourth Quarter 2014 – Murphy Oil Corp – slide 4
    Realized Prices Benchmark 4Q 2013 3Q 2014 4Q 2014 (/BBL) Brent 109.27 101.85 76.29 4Q 2014 Production Basis Price WTI 97.46 97.17 73.15 Realized Prices (/BBL) 4Q 2013 3Q 2014 4Q 2014 (a) Block K (b) 94.49 89.00 66.49 22%…
  5. Fourth Quarter 2014 – Murphy Oil Corp – slide 5
    Operating Metrics Lease Operating Expense*, /BOE 15.00 Oil-Weighted Portfolio 13.00 14.61 Continuous Improvement with LOE 11.00 11.44 24% Reduction 2013-14 10.53 11.04 9.00 10.14 Cash Flow Metrics 7.00 Well-Positioned 5.00 4Q…
  6. Fourth Quarter 2014 – Murphy Oil Corp – slide 6
    2014 Production Net Production, MBOEPD 4Q Production Exceeds Guidance 270 265 Montney New Wells & Performance 260 1.2 1.1 1.0 0.8 SK Gas Increased Gas Nominations 2.1 255 2.7 Terra Nova Well Uptime 250 259 245 Dalmatian Well…
  7. Fourth Quarter 2014 – Murphy Oil Corp – slide 7
    Leading Reserves Growth Proved Reserves, MMBOE 800 700 600 5 Year Avg Replacement 180% 500 400 300 200 2014 Replacement 180% 100 Recognizing 20% Malaysia Sell-Down in 2014 0 2008 2009 2010 2011 2012 2013 2014E R/P is 9.2 years 2014E…
  8. Fourth Quarter 2014 – Murphy Oil Corp – slide 8
    Advantaged Netback Prices 80 80 4Q 2014 Actual Prices 1Q 2015 Estimated Prices 75 75 70 70 65 65 60 60 55 55 50 50 45 45 40 40 35 35 30 30 MUR Industry MUR Industry MUR GOM MUR EFS MUR Malaysia MUR GOM MUR EFS MUR Malaysia…
  9. Fourth Quarter 2014 – Murphy Oil Corp – slide 9
    Global Offshore Malaysia Gulf of Mexico Closed Sale of 30% Dalmatian 2.0 Billion Marks Value of Business Two Well Project Started-up in 2Q 2014 Siakap North-Petai Tie-back to Petronius Gross Production 27,000 bopd; On Plan…
  10. Fourth Quarter 2014 – Murphy Oil Corp – slide 10
    Montney New Well Performance 2015 Reduce Capex No Rigs Post Feb 9 New Wells Online New Completions Working 8-11 BCF Upside EUR 10% ROR USD3.00/mcf (AECO) Gas Plant 1,000 Well Inventory 3rd Party Gas Processing 2015 Hedge…
  11. Fourth Quarter 2014 – Murphy Oil Corp – slide 11
    Eagle Ford Shale Capital Discipline in 2015 2014 Program 2015 Reduce Capex 46% from 2014 219 Wells Online 4 Rigs by Mid-March 7-8 Rigs 118 New Wells Online Running Room Price Advantaged Near GOM Early Entrant 2,055 per Acre 80% Oil…
  12. Fourth Quarter 2014 – Murphy Oil Corp – slide 12
    EFS Operating Metrics Net, MBOEPD Oper. Wells 70 600 Production Growth 60 64 500 46% 2013 to 2014 50 61 400 6% 3Q to 4Q 2014 40 46 300 Lease Operating Expense 30 57 200 42% Reduction 2012-14 20 39 10 100 Continued D&C…
  13. Fourth Quarter 2014 – Murphy Oil Corp – slide 13
    Guidance - 1Q 2015 1Q 2015 1Q 2015 Guidance 1Q 2015 Liquids (BOPD) Gas (MCFD) 1Q Production: 150,000 426,000 US - Eagle Ford Shale 56,000 40,000 Gulf of Mexico 16,000 62,000 Canada - Heavy 6,000 4,000 Montney - 176,000 Offshore…
  14. Fourth Quarter 2014 – Murphy Oil Corp – slide 14
    Looking Ahead to 2015 Capex 2015 Budget 2015 Total Capex, 2.3 Billion Commodity Prices WTI = 52.50 17% Brent = 57.50 Henry Hub = 3.00 Exploration 52% Field Development Capex 2.3 Billion 31% Development Drilling 33% Lower than…
  15. Fourth Quarter 2014 – Murphy Oil Corp – slide 15
    2014 2015 Exploration Program Area Block 2014 2015 Q4 Q1 Q2 Q3 Q4 Urca Sea Eagle Dalmatian Desperado Opal GULF OF MEXICO 130 MMBOE 110 MMBOE South 2 100 MMBOE 400 MMBOE 10 MMBOE Koel Munia AUSTRALIA Perth Basin 50 MMBOE 100…
  16. Fourth Quarter 2014 – Murphy Oil Corp – slide 16
    Looking Ahead to 2015 Production 4Q 14 Actual to 1Q 15 Guidance Net Production, MBOEPD 4Q Actual to 1Q Guidance 275 28 Block K: Kakap-Gumusut Ramping Up; Kikeh 250 New Wells & Gas Uptime 2 5 2 2 2 2 GOM: Planned Outages Habanero &…
  17. Fourth Quarter 2014 – Murphy Oil Corp – slide 17
    Financial Flexibility Balance Sheet & Liquidity As of As of YE 2014 Jan 29, 2015 Investment Grade Cash; Cash Equivalent; Agency Rating Outlook 1,654,698 1,621,698 Invested Securities S&P BBB Stable Current Maturities LTD 465,388…
  18. Fourth Quarter 2014 – Murphy Oil Corp – slide 18
    Takeaways Shareholder Focus with Share Repurchases & Increased Dividend Reserve Replacement 180% At Our 5 Year Average 9th Consecutive Year 100% While Growing Production 125% Since 2006 NA Onshore Business Significant 45% of…

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