KeyfactsEnergy

Murphy Oil

Contacts

Murphy Oil Corporation and Murphy Oil USA, Inc.
200 Peach Street, El Dorado, Arkansas 71730
U.S.A.

P.O. Box 7000
El Dorado, Arkansas 71731-7000

Tel: (870) 862-6411

Description

Murphy Oil Corporation was originally incorporated in Louisiana in 1950 as Murphy Corporation. It was reincorporated in Delaware in 1964, at which time it adopted the name Murphy Oil Corporation, and was reorganized in 1983 to operate primarily as a holding company of its various businesses. For reporting purposes, Murphy’s exploration and production activities are subdivided into four geographic segments, including the United States, Canada, Malaysia and all other countries. The Company has transitioned from an integrated oil company to an enterprise focused on oil and gas exploration and production activities.

The Company’s exploration and production management team directs the Company’s worldwide exploration and production activities. This business maintains upstream operating offices, with the most significant of these including Houston in Texas, Calgary in Alberta, and Kuala Lumpur in Malaysia.

Production and reserves

Production for the full year 2019 averaged 173 MBOEPD and consisted of 60 percent oil and 67 percent liquids volumes.

Murphy’s preliminary year-end 2019 proved reserves were 800 million barrels of oil equivalent (MMBOE), consisting of 50 percent oil and 57 percent liquids. Total proved reserves were 2 percent lower than at year-end 2018 as a result of the Malaysia divestiture and 2019 production, which were largely offset by the Gulf of Mexico acquisition, improvements to reserves from revisions and extensions across the business. Excluding Malaysia proved reserves of 129 MMBOE at year-end 2018, Murphy increased its proved reserves by 17 percent in 2019.

The company achieved organic reserve replacement of 172 percent with a three-year total finding and development cost of $12.95 per BOE.

Murphy is planning 2020 capital expenditures (CAPEX) to be in the range of $1.4 to $1.5 billion with full year 2020 production to be in the range of 190 to 202 MBOEPD.

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