The following is a summary of the Murphy Oil Corporation (MUR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Murphy Oil Corporation reported Q3 2024 net income of $139 million or $0.93 per diluted share, with an adjusted net income of $111 million or $0.74 per diluted share.

• Generated $397 million of adjusted EBITDA during the quarter, with $211 million of accrued CapEx.

• Repurchased $194 million of stock in Q3 and $300 million year-to-date, reinforcing shareholder returns.

• Revenue exceeded $700 million driven by diversified sales and strong production numbers.

Business Progress:

• Advanced exploration programs and initiated construction of the Loc Duvang production platform in Vietnam.

• Expanded operations in the Gulf of Mexico and Eagle Ford Shale, maintaining a strong rate of production.

• Progressed sustainability initiatives, focusing on environmental stewardship and strong governance oversight.

Opportunities:

• Growth driven by diverse production including the Tupper Montney asset and the Eagle Ford Shale.

• Exploration potential in Vietnam with ongoing development projects and future high-impact drilling planned.

• Plans to leverage additional liquidity from the newly secured $1.2 billion credit facility.

Risks:

• Production challenges including continued downtime at Terra Nova and the potential risks from regulatory changes in operational regions.

More details: Murphy Oil IR

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