Murphy Oil Stock Price, News & Analysis

Murphy Oil Corporation (NYSE: MUR) announced that CEO Roger W. Jenkins will present at the virtual J.P. Morgan 2021 Energy, Power & Renewables Conference on June 22, 2021, at 11:10 a.m. EDT. The presentation will be accessible via live audio webcast on the company's website. Murphy Oil is an independent oil and natural gas exploration and production company that aims to provide empowering energy solutions while focusing on financial discipline and innovation for a sustainable future.

Murphy Oil Corporation (NYSE: MUR) has appointed Michelle A. Earley to its Board of Directors, effective June 10, 2021. Claiborne P. Deming, Chairman of the Board, expressed excitement about Ms. Earley's inclusion, emphasizing her expertise in energy governance. Ms. Earley is a partner at Locke Lord LLP, co-chairing the Capital Markets Group and Diversity Committee. She has extensive experience in mergers and acquisitions, focusing on oil and natural gas companies. Her academic credentials include a Juris Doctor from Yale University and a Bachelor of Arts from Texas A&M University.

Murphy Oil Corporation (NYSE: MUR) reported a net loss of $287 million, or $1.87 per diluted share, for Q1 2021. Excluding charges, adjusted net income stood at $10 million, or $0.06 per diluted share. Key highlights included a $233 million debt reduction, production averaging 155 thousand barrels of oil equivalent per day, and the issuance of $550 million in senior notes. The company also commenced drilling in Gulf of Mexico projects with a continued focus on operational efficiency and free cash flow generation.

The Board of Directors of Murphy Oil Corporation (NYSE: MUR) has declared a quarterly cash dividend of $0.125 per share, amounting to $0.50 on an annualized basis. This dividend will be paid on June 1, 2021, to stockholders of record as of May 17, 2021. Murphy Oil continues its commitment to delivering value to shareholders through consistent dividend payments while emphasizing its vision of being a leader in the oil and gas industry, focusing on sustainability and financial discipline.

Murphy Oil Corporation (NYSE: MUR) will hold a conference call and webcast on May 6, 2021, at 9:00 a.m. EDT to review its first quarter 2021 earnings. The financial and operating results will be published before the market opens that day. Investors can access the webcast and related presentation materials on the company’s website.

This event highlights Murphy's commitment to transparent communication with shareholders regarding its financial performance and strategic direction.

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.