Murphy Oil Stock Price, News & Analysis

Murphy Oil Corporation (NYSE: MUR) has completed the sale of its 50% interest in the King's Quay floating production system to ArcLight Capital Partners for approximately $270 million. The proceeds will be used to repay borrowings under a $1.6 billion credit facility, enhancing liquidity as the company prepares for first oil production scheduled for mid-2022 from the Khaleesi/Mormont and Samurai fields. The King's Quay FPS, now over 90% complete, is designed to process 80,000 barrels of oil and 100 million cubic feet of gas per day.

Murphy Oil Corporation (NYSE: MUR) announced a $550 million offering of 6.375% Senior Notes due 2028. This offering is set to close on March 5, 2021. The proceeds will be used to redeem existing 4.000% and 3.700% Senior Notes, both maturing in 2022, alongside covering any related fees. BofA Securities, J.P. Morgan, and MUFG are managing the offering. This move aligns with Murphy's strategy to optimize its debt structure and maintain financial stability.

Murphy Oil Corporation (NYSE:MUR) plans to offer $550 million in Senior Notes due 2028, subject to market conditions. The proceeds will be utilized to redeem existing Senior Notes due 2022, totaling $550 million, and cover related expenses. BofA Securities, J.P. Morgan, and MUFG are the joint book-running managers for this offering, conducted under the SEC's automatic shelf registration. This move aims to improve the company’s financial structure by managing its debt obligations more effectively.

Murphy Oil Corporation (NYSE: MUR) announced significant changes to executive and director compensation for 2021, aimed at aligning interests with shareholders and enhancing focus on cash flow and environmental stewardship. The CEO's salary will be ~25% lower than 2020, while director compensation drops ~27%. Adjustments to the Annual Incentive Plan emphasize cash flow, cost management, and greenhouse gas reduction. Murphy aims for a 15-20% reduction in GHG emissions intensity by 2030, showcasing a commitment to sustainability and shareholder value.

The Board of Directors of Murphy Oil Corporation (MUR) has declared a quarterly cash dividend of $0.125 per share, translating to an annualized $0.50 per share. This dividend will be paid on March 1, 2021, to stockholders recorded as of February 16, 2021. This decision reflects the company's ongoing commitment to return value to its shareholders.

Murphy Oil Corporation (NYSE: MUR) reported a net loss of $172 million for Q4 2020, translating to $1.11 per diluted share. Adjusted net loss stood at $14 million or $0.09 per diluted share. The company maintained production at 149,000 BOEPD and achieved adjusted EBITDAX of $271 million. For 2020, total liquidity remained robust at $1.7 billion, with capital expenditures of $712 million. Murphy sanctioned the low-cost Tupper Montney development, adding significant reserves. However, a total net loss of $1.1 billion for the year reflects challenges in commodity pricing and market conditions.

Murphy Oil Corporation (NYSE: MUR) will hold a conference call and webcast on January 28, 2021, at 9:00 a.m. ET to discuss its fourth quarter 2020 earnings. The financial and operational results will be released prior to market opening. Investors can access the webcast via the company’s website at ir.murphyoilcorp.com. For participation, the toll-free dial-in number is 888-886-7786 with conference ID 95330576. This event is part of Murphy's commitment to transparently communicate its performance and outlook to stakeholders.

Murphy Oil Corporation (NYSE: MUR) has announced that its President and CEO, Roger W. Jenkins, will present at the MKM Partners Virtual Conference on December 15, 2020, at 11:10 a.m. ET. The presentation will be accessible through a live audio webcast on the company’s investor relations website.

Murphy Oil, an independent oil and natural gas exploration and production firm, is committed to delivering innovative energy solutions while positively impacting lives for the future. Further details can be found on their website.

Murphy Oil Corporation (NYSE: MUR) reported a $244 million net loss for Q3 2020, translating to a loss of $1.59 per diluted share. Excluding one-off items, the adjusted net loss was $24 million or $0.15 per diluted share. The company produced 153 MBOEPD, despite significant storm-related downtime. Murphy recorded $120 million in CAPEX and $74 million in free cash flow. Liquidity remains strong at $1.6 billion. The company reaffirmed its 2020 capital budget guidance of $680 million to $720 million.