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 (symbol: MUR) is a prominent independent exploration and production company focused on oil and gas. The company boasts a robust, oil-weighted portfolio of both global offshore and onshore assets, providing substantial potential through its exploration program.
Murphy Oil's operations span two primary business segments: the United States and Canada, with the majority of its revenue being generated from the U.S. market. The company strategically balances its global offshore operations with a predictable onshore business in North America.
Key areas of exploration for Murphy Oil include the Deepwater Gulf of Mexico, the Atlantic Margin, Southeast Asia, and Australia. This diversified geographic presence helps mitigate risks and capitalize on various regional opportunities.
In recent times, Murphy Oil has made significant strides in strengthening its portfolio. The company has been actively engaging in projects that enhance its production capabilities and reserves. Noteworthy among these are its advancements in the Gulf of Mexico, where high-potential deepwater projects are underway.
Financially, Murphy Oil remains in a healthy condition, driven by steady revenue streams and prudent financial management. The company has formed strategic partnerships that bolster its technological capabilities and operational efficiencies, ensuring sustained growth and value creation for shareholders.
Murphy Oil's product offerings include crude oil, natural gas, and natural gas liquids. The company continues to innovate and optimize its production processes to meet market demands and environmental standards. With a keen focus on sustainable practices, Murphy Oil is committed to minimizing its environmental footprint while maximizing resource extraction.
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.
Murphy Oil (NYSE: MUR) has announced that its CEO, Roger W. Jenkins, will be presenting at the Barclays 38th Annual CEO Energy-Power Conference. The presentation is scheduled for Wednesday, September 4, 2024, at 3:00 p.m. Eastern Daylight Time (EDT).
This event provides an opportunity for Murphy Oil to showcase its strategies and performance to investors and industry analysts. Interested parties can access the webcast presentation through the company's investor relations website at http://ir.murphyoilcorp.com. This participation in a major industry conference underscores Murphy Oil's commitment to transparent communication with its stakeholders and the broader investment community.
Murphy Oil (NYSE: MUR) reported net income of $128 million, or $0.83 per diluted share, for Q2 2024. Key highlights include:
- Production of 181 MBOEPD, with 91 MBOPD oil
- Record high peak gross production of 496 MMCFD in Tupper Montney
- Discovery at Ocotillo #1 exploration well in Gulf of Mexico
- Repurchased $56 million of stock and $50 million of senior notes
- Revised capital allocation framework to accelerate shareholder returns
- Increased share repurchase authorization by $500 million
Murphy maintained its 2024 CAPEX guidance of $920-$1.02 billion and production range of 180-188 MBOEPD. The company is moving to 'Murphy 3.0', allocating a minimum of 50% of adjusted free cash flow to shareholder returns, primarily through share buybacks.
Murphy Oil (NYSE: MUR) has released its 2024 Sustainability Report, highlighting significant progress in environmental, social, and governance (ESG) performance. Key achievements include:
Environmental stewardship:
- 37% reduction in greenhouse gas emissions intensity
- 51% reduction in methane intensity
- 66% reduction in flaring intensity
- Highest water recycling volume for onshore assets in company history
- Zero offshore spills over one barrel in the Gulf of Mexico since 2003
Social impact:
- 46% reduction in Total Recordable Incident Rate
- Over $11 million in charitable donations in the last four years
Governance:
- Third-party assurance of GHG Scope 1 and 2 data
- 20% weighting for sustainability metrics in annual incentive plan
- Improved MSCI ESG Rating from A to AA
The company remains on track to achieve its 2030 goals of zero routine flaring and a 15-20% reduction in GHG intensity compared to 2019.
Murphy Oil (NYSE: MUR) has announced a quarterly cash dividend of $0.30 per share on its Common Stock. This equates to $1.20 per share on an annualized basis. The dividend will be payable on September 3, 2024, to stockholders of record as of August 19, 2024. This announcement demonstrates Murphy Oil's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite the volatile nature of the oil and gas industry.
Murphy Oil (NYSE: MUR) has scheduled a conference call and webcast to discuss its second-quarter 2024 earnings. The company will release its financial and operating results on Thursday, August 8, 2024, before the market opens. The conference call will begin at 9:00 a.m. EDT and can be accessed via a toll-free dial-in number (800-717-1738) using the Conference ID 55528. Additionally, a webcast link and related presentation materials will be available on the Investor Relations page of Murphy Oil's website.
Murphy Oil (NYSE: MUR) has announced that its CEO, Roger W. Jenkins, will present at the J.P. Morgan 2024 Energy, Power & Renewables Conference.
The presentation is scheduled for Tuesday, June 18, 2024, at 2:20 p.m. Eastern Daylight Time (EDT).
The event will be available for live video webcast on the company's investor relations website.
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