Murphy Oil Corporation operates as an independent oil and natural gas company with a multi-basin onshore and offshore portfolio. Company news centers on quarterly financial and operating results, production guidance, commodity-price exposure, dividends, capital allocation, balance sheet activity, and updates from onshore assets in the Eagle Ford Shale, Tupper Montney, and Kaybob Duvernay.
Recurring updates also cover offshore exploration and development in the Gulf of America, Canada, Vietnam, and Côte d’Ivoire, including project activity around Lac Da Vang in Vietnam and exploration wells in the Gulf of America and Côte d’Ivoire. The company’s releases often connect operating execution with shareholder returns, liquidity, debt management, and long-cycle development priorities.
Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast on August 4, 2022, at 9:00 a.m. EDT to discuss its second quarter 2022 earnings. The company plans to release its financial and operational results before the market opens that day. Interested parties can find a webcast link and presentation materials on the company's Investors page. For inquiries, investors may contact Kelly Whitley at kelly_whitley@murphyoilcorp.com or Megan Larson at megan_larson@murphyoilcorp.com.
Murphy Oil Corporation (NYSE: MUR) announced the election of Paul D. Vaughan as Vice President and Controller, effective July 1, 2022, succeeding Christopher D. Hulse, who is leaving to pursue other opportunities. Vaughan has been with Murphy since 1998, most recently as Vice President and Controller for US, Central, and South America. Additionally, Leyster L. Jumawan was elected as Vice President, Corporate Planning and Treasurer, while John B. Gardner will now focus on supply chain responsibilities. All changes take effect on July 1, 2022, under the leadership of incoming CFO Tom Mireles.
Murphy Oil Corporation (NYSE: MUR) will have its CEO, Roger W. Jenkins, present at the J.P. Morgan 2022 Energy, Power & Renewables Conference on June 23, 2022, at 11:00 a.m. EDT. The presentation will be accessible via a live video webcast on the company's website. Murphy Oil focuses on being a leader in the oil and natural gas exploration and production sector, aiming to provide sustainable energy solutions that empower people.
Murphy Oil Corporation (NYSE: MUR) reported a net loss of $113 million for Q1 2022, equating to $0.73 per diluted share. Adjusted net income, excluding certain items, was $113 million, or $0.73 per diluted share. The company achieved a production rate of 141 MBOPD, with 60% being liquids. Debts are set to reduce by $600 million to $650 million amidst a raised dividend of 17% to $0.175. Moody’s upgraded its credit rating to Ba2, reflecting financial stability. Operations in the Gulf of Mexico showed promising results, with new wells already in production.
Murphy Oil Corporation (NYSE:MUR) will redeem $200 million of its 6.875% Senior Notes due 2024 on June 2, 2022. The redemption price will be 101.719% of the principal, plus accrued interest. Following the redemption, interest on the notes will cease. This action reflects the company's ongoing financial strategy and commitment to manage its debt effectively.
Murphy Oil Corporation (NYSE: MUR) has successfully achieved first oil from the Khaleesi, Mormont, and Samurai field development project in the Gulf of Mexico. This strategic project, initiated in 2019, includes seven wells, with ongoing completions for the remaining five. The King’s Quay floating production system is now operational, designed to process 85,000 barrels of oil and 100 million cubic feet of natural gas daily. The production is expected to generate significant free cash flow, targeting $600-$650 million in debt reduction this year and potentially up to $1 billion in 2023.
The Board of Directors of Murphy Oil Corporation (NYSE: MUR) declared a quarterly cash dividend of $0.175 per share, amounting to $0.70 annually. This marks a 17% increase from the last quarter and a significant 40% increase from Q4 2021. The dividend is scheduled for payment on June 1, 2022, to stockholders recorded by May 16, 2022.
Murphy Oil Corporation (NYSE: MUR) will hold a conference call at 9:00 a.m. EDT on May 4, 2022, to discuss its first quarter 2022 earnings. The financial and operational results will be released before the market opens that day. Investors can access the webcast and presentation materials via the company’s website. For participation, call 888-886-7786 and use conference ID 86484903.
Murphy Oil Corporation (NYSE: MUR) announced the conclusion of drilling at the Cutthroat-1 exploration well located in the Sergipe-Alagoas Basin off the coast of Brazil. No hydrocarbons were found during the drilling, however, the partner group will continue to analyze the data to assess the exploration potential of the area. The Cutthroat-1 well was drilled from a depth of 3,094 meters of water using the Seadrill West Saturn drillship, with ExxonMobil as the operator holding a 50% interest.
Murphy Oil Corporation (NYSE: MUR) has announced that President and CEO Roger W. Jenkins will present at the Scotia Howard Weil Energy Conference on Tuesday, March 22, 2022, at 2:30 p.m. EDT. The live video webcast of the presentation will be accessible via the company’s website. As a leading independent oil and natural gas exploration and production company, Murphy focuses on providing sustainable energy solutions while maintaining a commitment to financial discipline and innovation.