Welcome to our dedicated page for Murphy Oil news (Ticker: MUR), a resource for investors and traders seeking the latest updates and insights on Murphy Oil stock.
Murphy Oil Corporation (NYSE: MUR) is an independent oil and natural gas company with a multi-basin onshore and offshore portfolio, and its news flow reflects that operational and financial scope. Company updates frequently cover exploration and appraisal milestones, capital markets activity, earnings results and participation in industry conferences.
Recent news has highlighted Murphy Oil’s offshore appraisal success in Vietnam’s Cuu Long Basin, where its subsidiary drilled the Hai Su Vang-2X appraisal well in Block 15-2/17, approximately 40 miles offshore. The company reports that this well confirms Hai Su Vang as a significant discovery and informs an updated range of recoverable resources for the field. Murphy Oil also provides updates on its Lac Da Vang (Golden Camel) development project in Vietnam and on exploration programs in Côte d’Ivoire and the Gulf of America.
Investors following MUR news will also see announcements related to financing and capital structure, such as the offering and pricing of $500 million of senior notes due 2034 under an effective shelf registration statement, and amendments to the company’s senior unsecured credit facility. Earnings releases and quarterly stockholder updates, often referenced in Form 8-K filings, provide detail on production volumes, operating metrics, capital expenditures, debt levels and return of capital through dividends and share repurchases.
In addition, Murphy Oil issues news about conference calls and webcasts for quarterly results, as well as participation by its executives in sector conferences hosted by financial institutions. Together, these items give a view into how the company manages its multi-basin portfolio, finances its activities and communicates with the market. For investors and analysts tracking MUR, this news page aggregates operational, financial and corporate developments in one place.
Murphy Oil (NYSE: MUR) has announced its schedule for the fourth quarter 2024 earnings release and conference call. The company will release its financial and operating results before market opening on Thursday, January 30, 2025. A conference call and webcast will follow at 9:00 a.m. Eastern Standard Time (EST). Investors can access the conference call through the toll-free number 800-717-1738 using Conference ID 18687. The webcast link and presentation materials will be available on Murphy Oil's Investor Relations website.
Murphy Oil (NYSE: MUR) reported Q3 2024 net income of $139 million ($0.93 per diluted share), with adjusted net income of $111 million ($0.74 per diluted share). The company produced 185 MBOEPD, including 88 MBOPD. Key achievements include repurchasing $194 million of stock at $36.12 per share, issuing $600 million in senior notes, and securing a new $1.2 billion credit facility. Murphy maintained its quarterly dividend of $0.30 per share and initiated a two-well Vietnam exploration program. The company tightened its 2024 production guidance to 180-182 MBOEPD and maintained CAPEX guidance of $920 million to $1.02 billion.
Murphy Oil (NYSE: MUR) announced early tender results for its cash tender offers to purchase up to $600 million aggregate principal amount of outstanding senior notes. As of October 2, 2024, the following amounts were tendered:
- 5.875% Senior Notes due 2027: $258,380,000 (62.00%)
- 7.050% Senior Notes due 2029: $62,105,000 (34.56%)
- 6.375% Senior Notes due 2028: $200,154,000 (57.39%)
Murphy expects to accept all validly tendered notes and make payments on October 7, 2024. The tender offers are conditioned on completing a debt financing transaction raising at least $600 million, which Murphy expects to satisfy with the closing of its new 6.000% Senior Notes due 2032 offering.
Murphy Oil (NYSE: MUR) has announced the election of Robert B. Tudor, III to its Board of Directors, effective October 2, 2024. Tudor is the founder and CEO of Artemis Energy Partners, an investing and advisory platform focused on global energy markets. He is also a retired Founder and CEO of Tudor, Pickering, Holt & Co., and a former Partner at Goldman Sachs.
Tudor currently serves as the Chairman of the Houston Energy Transition Initiative and holds board positions in several companies, including Puloli, Inc., New ASEAN Energy, and P6 Technologies, Inc. He is actively involved in various advisory roles and philanthropic endeavors in Houston.
Claiborne Deming, Chairman of Murphy's Board of Directors, expressed enthusiasm about Tudor's addition to the board, citing his extensive professional experience as a valuable asset to the company's business.
Murphy Oil (NYSE: MUR) has announced that Eric M. Hambly, the current President and Chief Operating Officer, will succeed Roger W. Jenkins as President and CEO, effective January 1, 2025. Hambly will also join the Board of Directors. Jenkins will retire from the Board on December 31, 2024, but remain as an advisor until December 31, 2025.
Hambly, with over 26 years of industry experience, joined Murphy in 2006 and has been instrumental in the company's global exploration and production operations. Jenkins, who became CEO in 2013, led Murphy to develop a leading position in the US Gulf of Mexico.
The Board Chairman, Claiborne P. Deming, expressed confidence in Hambly's leadership, while acknowledging Jenkins' significant contributions to the company over the past 11 years.
Murphy Oil (NYSE: MUR) has announced a quarterly cash dividend on its Common Stock. The Board of Directors declared a dividend of $0.30 per share, which equates to $1.20 per share on an annualized basis. This dividend will be payable on December 2, 2024, to stockholders of record as of November 18, 2024. The announcement demonstrates Murphy Oil's commitment to providing returns to its shareholders through regular dividend payments.
Murphy Oil (NYSE: MUR) has announced its schedule for the third quarter 2024 earnings release and conference call. The company will host a conference call and webcast on Thursday, November 7, 2024, at 9:00 a.m. Eastern Standard Time (EST) to discuss the quarter's financial results. Murphy Oil plans to release its financial and operating results before the market opens on the same day.
Investors and interested parties can access the webcast link and related presentation materials on the Investor Relations page of Murphy Oil's website at http://ir.murphyoilcorp.com. For those who prefer to join by phone, a toll-free dial-in number (800-717-1738) will be available, with the Conference ID: 41884.
Murphy Oil (NYSE: MUR) has priced an offering of $600 million of 6.000% Senior Notes due 2032. The offering is expected to close on October 3, 2024, subject to customary conditions. The company plans to use the net proceeds, along with cash on hand, to fund previously announced cash tender offers for up to $600 million aggregate principal amount of its outstanding 5.875% Senior Notes due 2027, 6.375% Senior Notes due 2028, and 7.050% Senior Notes due 2029.
The offering is being made under an automatic shelf registration statement on Form S-3. J.P. Morgan Securities , BofA Securities, Inc., and MUFG Securities Americas Inc. are acting as physical joint book-running managers for the offering. Investors can obtain free copies of the prospectus supplement and accompanying prospectus from the SEC website or by contacting J.P. Morgan Securities
Murphy Oil (NYSE: MUR) has announced cash tender offers for up to $600 million aggregate principal amount of its outstanding senior notes. The tender offers include:
- 5.875% Senior Notes due 2027
- 7.050% Senior Notes due 2029 (with a $120 million maximum subcap)
- 6.375% Senior Notes due 2028
The offers are subject to conditions, including a Financing Condition of raising at least $600 million through debt financing. Holders tendering before the Early Tender Date (October 2, 2024) will receive the Total Consideration, including an Early Tender Premium. The offers expire on October 18, 2024, unless extended or terminated earlier.
Murphy Oil (NYSE: MUR) has announced its intention to offer $600 million of Senior Notes due 2032, subject to market conditions. The company plans to use the net proceeds, along with cash on hand, to fund cash tender offers for up to $600 million aggregate principal amount of its outstanding 5.875% Senior Notes due 2027, 6.375% Senior Notes due 2028, and 7.050% Senior Notes due 2029. The offering is being made under an automatic shelf registration statement on Form S-3, with J.P. Morgan Securities , BofA Securities, Inc., and MUFG Securities Americas Inc. acting as physical joint book-running managers.