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  Title	Murphy Oil Corporation Announces Second Quarter Results
  ID	12261436
  External ID	7948784950
  Author	Unknown
  Published Date	Aug. 6, 2025, 3:33 p.m.
  Summary	Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the second quarter ended June 30, 2025. Unless otherwise noted, the financial and operating highlights and me
  Tags	press-release
  URL	http://sogotradedev.websol.barchart.com/?module=topnews&storyid=33936152
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  Content ID	7838556
  Key	a32c5f15-8831-4574-91f8-7de0495ab59c
  Content	Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the second quarter ended June 30, 2025. Unless otherwise noted, the financial and operating highlights and metrics discussed in this commentary exclude noncontrolling interest (NCI). Three months ended June 30, 2025 Net income attributable to Murphy Net income attributable to Murphy per common share - Diluted Adjusted net income from continuing operations attributable to Murphy (Non-GAAP) Adjusted net income from continuing operations per average common share -Diluted (Non-GAAP) Net cash provided by continuing operations activities Free cash flow (Non-GAAP) Oil production, net (BOPD) Total production, net (BOEPD) Lease operating expense ($/BOE) From continuing operations and excludes amounts attributable to a noncontrolling interest in MP Gulf of Mexico, LLC (MP GOM). Adjusted net income from continuing operations attributable to Murphy, adjusted earnings before interest, taxes, depreciation and amortization attributable to Murphy (adjusted EBITDA), adjusted EBITDA less exploration expense attributable to Murphy (adjusted EBITDAX), and free cash flow are non-GAAP financial measures and are not prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations can be found in the attached schedules. Barrels of oil per day (BOPD) and barrels of oil equivalent per day (BOEPD). Lease operating expense per barrel of oil equivalent sold for total oil and gas continuing operations. Highlights for the second quarter include: Delivered sequential increase in production to 190,000 BOEPD and 90,000 BOPD; production outperformed high-end of guidance on strong new well productivity Returned $46 million to shareholders through quarterly dividend Reaffirmed full year CAPEX guidance at the midpoint of the range; full year total company production now trending at the midpoint of the range Subsequent to the second quarter: Declared quarterly dividend of $0.325 per share or $1.30 per share annualized Closed Eagle Ford Shale acquisition for $23 million on July 1st Signed rig contract for Côte d'Ivoire three-well exploration program Published the 2025 Sustainability Report “I am very pleased with our solid operational results in the second quarter which were achieved through strong new onshore well performance, continued Gulf of America workover progress, and field development execution at Lac Da Vang (Golden Camel). It's an exciting time at Murphy as we look ahead to significant exploration and appraisal catalysts in the second half of the year,” said Eric M. Hambly, President and Chief Executive Officer. “In addition, this quarter we have introduced a Quarterly Stockholder Update which provides deeper insights and leadership perspectives on our business.” The company had $550 million remaining under its share repurchase authorization and 142.7 million shares outstanding as of June 30, 2025. FINANCIAL POSITION Murphy had approximately $1.5 billion of liquidity on June 30, 2025, comprised of $1.15 billion undrawn under the $1.35 billion senior unsecured credit facility and $380 million of cash and cash equivalents, inclusive of NCI. As of June 30, 2025, Murphy's total debt of $1.48 billion was comprised of long-term, fixed-rate notes and $200 million drawn under the senior unsecured credit facility. The fixed-rate notes had a weighted average maturity of 8.9 years and a weighted average coupon of 6.1 percent. ONSHORE OPERATIONS SUMMARY In the second quarter of 2025, the onshore business produced approximately 118 MBOEPD, which included 31 percent liquids volumes. Onshore Oil Production (BOPD) Total Production (BOEPD) New Wells Online (Operated) Eagle Ford Shale Tupper Montney — Kaybob Duvernay — OFFSHORE OPERATIONS SUMMARY Excluding NCI, in the second quarter of 2025, the offshore business produced approximately 72 MBOEPD, which included 82 percent oil. Offshore Oil production (BOPD) Total Production (BOEPD) Gulf of America Canada Gulf of America – Murphy completed the Samurai #3 workover and returned the well to production early in the second quarter. The Khaleesi #2 workover was completed and returned to production early in the third quarter. Vietnam – During the second quarter, Murphy continued to advance the Lac Da Vang (Golden Camel) field development and the project remains on schedule for first oil in the second half of 2026. The total project has now achieved 2.5 million work hours with zero Lost Time Injuries. 2025 CAPITAL EXPENDITURE AND PRODUCTION GUIDANCE The table below illustrates third quarter 2025 production guidance by area. 3Q 2025 Guidance Producing Asset Oil (BOPD) NGLs (BOPD) Natural Gas (MCFD) Total (BOEPD) Eagle Ford Shale Gulf of America, excl. NCI Tupper Montney — Kaybob Duvernay Offshore Canada — — Other — — Total Net Production, excl. NCI (BOEPD) 185,000 to 193,000 Exploration Expense ($ MM) Full Year 2025 Guidance Total Net Production, excl. NCI (BOEPD) 174,500 to 182,500 Capital Expenditures, excl. NCI ($ MM) $1,135 to $1,285 ¹ Excludes noncontrolling interest of MP GOM of 5,300 BOPD of oil, 300 BOPD of NGLs and 1,900 MCFD natural gas ² Excludes noncontrolling interest of MP GOM of 5,600 BOPD of oil, 200 BOPD of NGLs and 1,700 MCFD natural gas ³ Excludes noncontrolling interest of MP GOM of $40 million The table below details the 2025 CAPEX plan by quarter. 2025 CAPEX by Quarter ($ MM) 1Q 2025A 2Q 2025A 3Q 2025E 4Q 2025E FY 2025E Accrual CAPEX, based on midpoint of guidance range and excluding NCI Includes net acquisition CAPEX of $104 million for the Pioneer FPSO and $1.4 million for non-operated working interests near the Zephyrus field in the Gulf of America Excludes $23 million Eagle Ford Shale acquisition The table below details the 2025 onshore well delivery plan by quarter. 2025 Onshore Wells Online 1Q 2025A 2Q 2025A 3Q 2025E 4Q 2025E 2025E Total Eagle Ford Shale Kaybob Duvernay Tupper Montney Non-Op Eagle Ford Shale Note: All well counts are shown gross. Eagle Ford Shale non-operated working interest averages 21 percent. CONFERENCE CALL AND WEBCAST SCHEDULED FOR AUGUST 7, 2025 Murphy will host a conference call to discuss second quarter 2025 financial and operating results on Thursday, August 7, 2025, at 9:00 a.m. ET. The call can be accessed either via the Internet through the events calendar on the Murphy Oil Corporation Investor Relations website at or via telephone by dialing toll free 1-800-717-1738, reservation number 30769. For additional information, please refer to the Second Quarter 2025 Earnings Presentation and Quarterly Stockholder Update available under the News and Events section of the Investor Relations website. FINANCIAL DATA Summary financial data and operating statistics for second quarter 2025, with comparisons to the same period from the previous year, are contained in the attached schedules. Additionally, a schedule indicating the impacts of items affecting comparability of results between periods and a reconciliation of the non-GAAP financial measures of adjusted net income from continuing operations attributable to Murphy, EBITDA, EBITDAX, adjusted EBITDA, adjusted EBITDAX, free cash flow and adjusted free cash flow to the most directly comparable GAAP financial measures for such periods are also included. ABOUT MURPHY OIL CORPORATION Murphy Oil Corporation is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio and significant exploration opportunities. The company has more than a century-long history of demonstrating strong execution and innovative, full-cycle development capabilities with a focus on value creation that drives shareholder returns. Murphy's foresight and financial discipline, along with its culture of adaptability and accountability, will allow the company to continue its outstanding legacy and exceptional reputation. The company's current operations include extensive inventory located onshore in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay, as well as offshore in the Gulf of America and Canada. Murphy also strives to create long-term shareholder value through offshore exploration and development in the Gulf of America, Vietnam and Côte d'Ivoire. Additional information can be found on the company's website at FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management's current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company's future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, make capital expenditures or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; geopolitical concerns; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets, banking system or economies in general, including inflation, trade policies, tariffs and other trade restrictions. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC's website and from Murphy Oil Corporation's website at . Investors and others should note that we may announce material information using SEC filings, press releases, public conference calls, webcasts and the investors page of our website. We may use these channels to distribute material information about the company; therefore, we encourage investors, the media, business partners and others interested in the company to review the information we post on our website. The information on our website is not part of, and is not incorporated into, this news release. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements. NON-GAAP FINANCIAL MEASURES This news release contains certain non-GAAP financial measures that management believes are useful tools for internal use and the investment community in evaluating Murphy Oil Corporation's overall financial performance. These non-GAAP financial measures are broadly used to value and compare companies in the crude oil and natural gas industry. Not all companies define these measures in the same way. In addition, these non-GAAP financial measures are not a substitute for financial measures prepared in accordance with US generally accepted accounting principles (GAAP) and should therefore be considered only as supplemental to such GAAP financial measures. Please see the attached schedules for reconciliations of the differences between the non-GAAP financial measures used in this news release and the most directly comparable GAAP financial measures. In accordance with GAAP, Murphy reports the 100 percent interest, including a 20 percent noncontrolling interest (NCI), in its subsidiary, MP Gulf of Mexico, LLC (MP GOM). The GAAP financials include the NCI portion of revenue, costs, assets and liabilities and cash flows. Unless otherwise noted, the financial and operating highlights and metrics discussed in this news release, but not the accompanying schedules, exclude the NCI, thereby representing only the amounts attributable to Murphy. MURPHY OIL CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Thousands of dollars, except per share amounts) Revenues and other income Revenue from production Sales of purchased natural gas — — Total revenue from sales to customers Gain on derivative instruments — — Gain on sale of assets and other operating income Total revenues and other income Costs and expenses Lease operating expenses Severance and ad valorem taxes Transportation, gathering and processing Costs of purchased natural gas — — Exploration expenses, including undeveloped lease amortization Selling and general expenses Depreciation, depletion and amortization Accretion of asset retirement obligations Impairment of assets — — — Other operating expense (income) Total costs and expenses Operating income from continuing operations Other income (loss) Other income (loss) Interest expense, net Total other income (loss) Income from continuing operations before income taxes Income tax expense Income from continuing operations Income (loss) from discontinued operations, net of income taxes Net income including noncontrolling interest Less: Net income attributable to noncontrolling interest NET INCOME ATTRIBUTABLE TO MURPHY NET INCOME (LOSS) PER COMMON SHARE – BASIC Continuing operations Discontinued operations — — Net income NET INCOME (LOSS) PER COMMON SHARE – DILUTED Continuing operations Discontinued operations — — Net income Cash dividends per common share Average common shares outstanding (thousands) Basic Diluted MURPHY OIL CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Thousands of dollars) Operating Activities Net income including noncontrolling interest Adjustments to reconcile net income to net cash provided by continuing operations activities Depreciation, depletion and amortization Accretion of asset retirement obligations Long-term non-cash compensation Deferred income tax expense Amortization of undeveloped leases Mark-to-market (gain) loss on derivative instruments — — Unsuccessful exploration well costs and previously suspended exploration costs (Income) loss from discontinued operations Impairment of assets — — — Other operating activities, net Net decrease in non-cash working capital Net cash provided by continuing operations activities Investing Activities Property additions and dry hole costs Acquisition of oil and natural gas properties — — — Net cash required by investing activities Financing Activities Borrowings on revolving credit facility Repayment of revolving credit facility Retirement of debt — — Repurchase of common stock Cash dividends paid Withholding tax on stock-based incentive awards Distributions to noncontrolling interest Finance lease obligation payments Issue costs of debt facility — — Net required by financing activities Effect of exchange rate changes on cash and cash equivalents Net (decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period MURPHY OIL CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Thousands of dollars) June 30, December 31, ASSETS Cash and cash equivalents Other current assets Property, plant and equipment, net Operating lease assets, net Other long-term assets Total assets LIABILITIES AND EQUITY Current maturities of long-term debt, finance lease Accounts payable Operating lease liabilities Other current liabilities Long-term debt, including finance lease obligation Asset retirement obligations Non-current operating lease liabilities Other long-term liabilities Total liabilities Murphy Shareholders' Equity Noncontrolling interest Total liabilities and equity Reclassified to conform to current presentation. MURPHY OIL CORPORATION SCHEDULE OF ADJUSTED NET INCOME (LOSS) (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Millions of dollars, except per share amounts) Net income attributable to Murphy (GAAP) Discontinued operations (income) loss Net income from continuing operations attributable to Murphy Adjustments: Foreign exchange loss (gain) Mark-to-market (gain) on derivative instruments — — Impairment of assets — — — Write-off of previously suspended exploration well — — — Total adjustments, before taxes Income tax (benefit) expense related to adjustments Total adjustments, after taxes Adjusted net income from continuing operations attributable to Murphy (Non-GAAP) Adjusted net income from continuing operations per average diluted share (Non-GAAP) Excludes amounts attributable to a noncontrolling interest in MP GOM. Non-GAAP Financial Measures Presented above is a reconciliation of net income to adjusted net income from continuing operations attributable to Murphy. Adjusted net income excludes certain items that management believes affect the comparability of results between periods. Management believes this is important information to provide because it is used by management to evaluate the Company's operational performance and trends between periods and relative to its industry competitors. Management also believes this information may be useful to investors and analysts to gain a better understanding of the Company's financial results. Adjusted net income is a non-GAAP financial measure and should not be considered a substitute for net income as determined in accordance with GAAP. The pretax and income tax impacts for adjustments in the above table are shown below by area of operation and geographical location and corporate, as applicable, and exclude the share attributable to noncontrolling interests. Three Months Ended June 30, 2025 Six Months Ended June 30, 2025 (Millions of dollars) Pretax Tax Net Pretax Tax Net Corporate Total adjustments MURPHY OIL CORPORATION SCHEDULE OF EBITDA, ADJUSTED EBITDA, EBITDAX AND ADJUSTED EBITDAX (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Millions of dollars) Net income attributable to Murphy (GAAP) Income tax expense Interest expense, net Depreciation, depletion and amortization expense EBITDA attributable to Murphy (Non-GAAP) Exploration expenses EBITDAX attributable to Murphy (Non-GAAP) EBITDA attributable to Murphy (Non-GAAP) Foreign exchange loss (gain) Accretion of asset retirement obligations Mark-to-market (gain) on derivative instruments — — Impairment of asset — — — Write-off of previously suspended exploration well — — — Discontinued operations (income) loss Adjusted EBITDA attributable to Murphy (Non-GAAP) Other exploration expenses Adjusted EBITDAX attributable to Murphy (Non-GAAP) Excludes amounts attributable to a noncontrolling interest in MP GOM. Other exploration expenses consist of exploration expenses as reported in the consolidated statement of operations excluding amounts relating to the write-off of previously suspended exploration well included in Adjusted EBITDA calculation above. Non-GAAP Financial Measures Presented above is a reconciliation of net income to earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted EBITDA, earnings before interest, taxes, depreciation and amortization, and exploration expenses (EBITDAX) and adjusted EBITDAX. Management believes EBITDA, adjusted EBITDA, EBITDAX and adjusted EBITDAX are important information to provide because they are used by management to evaluate the Company's operational performance and trends between periods and relative to its industry competitors. Adjusted EBITDAX exclude certain items that management believes affect the comparability of results between periods. Management also believes this information may be useful to investors and analysts to gain a better understanding of the Company's financial results. EBITDA, adjusted EBITDA, EBITDAX and adjusted EBITDAX are non-GAAP financial measures and should not be considered a substitute for net income or Cash provided by operating activities as determined in accordance with GAAP. MURPHY OIL CORPORATION SCHEDULE OF FREE CASH FLOW AND ADJUSTED FREE CASH FLOW (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Millions of dollars) Net cash provided by continuing operations activities (GAAP) Exclude: increase (decrease) in non-cash working capital Operating cash flow excluding working capital adjustments Less: property additions and dry hole costs Free cash flow (Non-GAAP) Less: cash dividends paid Less: distributions to noncontrolling interest Less: withholding tax on stock-based incentive awards — — Less: acquisition of oil and natural gas properties — — — Adjusted free cash flow (Non-GAAP) Property additions for the 2025 period includes a payment of $125.0 million for the purchase of a floating production, storage, and offloading vessel in U.S. Offshore, including amounts attributable to a noncontrolling interest in MP GOM. Non-GAAP Financial Measures Presented above is a reconciliation of net cash provided by continuing operations activities to free cash flow (FCF) and adjusted FCF. Management believes FCF and adjusted FCF are important information to provide because they are additional measures of liquidity and are used by management to evaluate the Company's ability to internally generate cash, excluding the timing impacts of working capital, and to measure funds available for investing and financing activities. Management also believes this information may be useful to investors and analysts to monitor the Company's financial health and its performance over time. Adjusted FCF excludes certain items that management believes affect the comparability of results between periods. FCF and adjusted FCF are non-GAAP and should not be considered a substitute for net cash provided by operating, investing, or financing activities as determined in accordance with GAAP. MURPHY OIL CORPORATION FUNCTIONAL RESULTS OF OPERATIONS (unaudited) Three Months Ended June 30, 2025 Three Months Ended June 30, 2024 (Millions of dollars) Revenues Income (Loss) Revenues Income (Loss) Exploration and production United States Canada Other Total exploration and production Corporate — Income from continuing operations Discontinued operations, net of tax — — Net income including noncontrolling interest Less: Net income attributable to noncontrolling interest Net income attributable to Murphy Six Months Ended June 30, 2025 Six Months Ended June 30, 2024 (Millions of dollars) Revenues Income (Loss) Revenues Income (Loss) Exploration and production United States ¹ Canada Other Total exploration and production Corporate — Income from continuing operations Discontinued operations, net of tax — — Net income including noncontrolling interest Less: Net income attributable to noncontrolling interest Net income attributable to Murphy Includes results attributable to a noncontrolling interest in MP GOM. MURPHY OIL CORPORATION PRODUCTION-RELATED EXPENSES (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Dollars per barrel of oil equivalents sold) United States – Onshore Lease operating expense Severance and ad valorem taxes Depreciation, depletion and amortization expense United States – Offshore Lease operating expense Severance and ad valorem taxes Depreciation, depletion and amortization expense Canada – Onshore Lease operating expense Severance and ad valorem taxes Depreciation, depletion and amortization expense Canada – Offshore Lease operating expense Depreciation, depletion and amortization expense Total E&P continuing operations Lease operating expense Severance and ad valorem taxes Depreciation, depletion and amortization expense Total oil and gas continuing operations – excluding noncontrolling interest Lease operating expense Severance and ad valorem taxes Depreciation, depletion and amortization expense Includes amounts attributable to a noncontrolling interest in MP GOM. Excludes expenses attributable to the Corporate segment. Lease operating expense per barrel of oil equivalent sold for total oil and gas continuing operations, excluding NCI and workover costs, was $8.76 and $10.42 for the three months ended June 30, 2025 and 2024, respectively and $9.50 and $10.58 for the six months ended June 30, 2025 and 2024, respectively. MURPHY OIL CORPORATION CAPITAL EXPENDITURES (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Millions of dollars) Exploration and production United States Canada Other Total Corporate Total capital expenditures - continuing operations Less: capital expenditures attributable to noncontrolling interest Total capital expenditures - continuing operations attributable to Murphy Charged to exploration expenses United States Canada — Other Total charged to exploration expenses - continuing operations Less: charged to exploration expenses attributable to noncontrolling interest — — Total charged to exploration expenses - continuing operations attributable to Murphy Total capitalized - continuing operations attributable to Murphy Includes amounts attributable to a noncontrolling interest in MP GOM. For the three months ended June 30, 2025 and 2024, there were no acquisition-related costs incurred. For the six months ended June 30, 2025, total capital expenditures attributable to Murphy, excluding acquisition-related costs of $105.6 million, primarily related to the purchase of a floating production, storage, and offloading vessel in U.S. Offshore (2024: nil), is $548.1 million (2024: $555.8 million). For the three-month and six-month ended June 30, 2025, total charged to exploration expense attributable to Murphy, excludes amortization of undeveloped leases of $2.3 million (2024: $3.0 million) and $3.9 million (2024 $5.8 million), respectively. For the three months ended June 30, 2025 and 2024, no amounts were expensed for previously suspended exploration costs. For the six months ended June 30, 2025, total charged to exploration expense attributable to Murphy, excluding previously suspended exploration costs of nil (2024: $26.1 million), is $20.9 million (2024: $55.3 million). MURPHY OIL CORPORATION PRODUCTION SUMMARY (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Barrels per day unless otherwise noted) Net crude oil and condensate United States - Onshore United States - Offshore Canada - Onshore Canada - Offshore Other Total net crude oil and condensate Net natural gas liquids United States - Onshore United States - Offshore Canada - Onshore Total net natural gas liquids Net natural gas – thousands of cubic feet per day United States - Onshore United States - Offshore Canada - Onshore Total net natural gas Total net hydrocarbons - including NCI Noncontrolling interest Net crude oil and condensate – barrels per day Net natural gas liquids – barrels per day Net natural gas – thousands of cubic feet per day Total noncontrolling interest Total net hydrocarbons - excluding NCI Includes net volumes attributable to a noncontrolling interest in MP GOM. Natural gas converted on an energy equivalent basis of 6:1. NCI – noncontrolling interest in MP GOM. MURPHY OIL CORPORATION SALES SUMMARY (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Barrels per day unless otherwise noted) Net crude oil and condensate United States - Onshore United States - Offshore Canada - Onshore Canada - Offshore Other Total net crude oil and condensate Net natural gas liquids United States - Onshore United States - Offshore Canada - Onshore Total net natural gas liquids Net natural gas – thousands of cubic feet per day United States - Onshore United States - Offshore Canada - Onshore Total net natural gas Total net hydrocarbons - including NCI Noncontrolling interest Net crude oil and condensate – barrels per day Net natural gas liquids – barrels per day Net natural gas – thousands of cubic feet per day Total noncontrolling interest Total net hydrocarbons - excluding NCI Includes net volumes attributable to a noncontrolling interest in MP GOM. Natural gas converted on an energy equivalent basis of 6:1. NCI – noncontrolling interest in MP GOM. MURPHY OIL CORPORATION WEIGHTED AVERAGE PRICE SUMMARY (unaudited) Three Months Ended June 30, Six Months Ended June 30, Crude oil and condensate – dollars per barrel United States - Onshore United States - Offshore Canada - Onshore Canada - Offshore Other Natural gas liquids – dollars per barrel United States - Onshore United States - Offshore Canada - Onshore Natural gas – dollars per thousand cubic feet United States - Onshore United States - Offshore Canada - Onshore Prices include the effect of noncontrolling interest in MP GOM. U.S. dollar equivalent. MURPHY OIL CORPORATION FIXED PRICE FORWARD SALES AND COMMODITY HEDGE POSITIONS AS OF AUGUST 4, 2025 (unaudited) Volumes (MMCF/d) Price/MCF Remaining Period Area Commodity Type Start Date End Date Canada Natural Gas Fixed price forward sales C$2.75 Canada Natural Gas Fixed price forward sales C$3.03 Fixed price forward sale contracts listed above are accounted for as normal sales and purchases for accounting purposes. Volumes (MMCF/d) Price/MCF Remaining Period Area Commodity Type Start Date End Date United States Natural Gas Fixed price derivative swap US$3.65 United States Natural Gas Fixed price derivative swap US$3.74 View source version on businesswire.com: This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy
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