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 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.
The Board of Directors of Murphy Oil Corporation (MUR) has declared a quarterly cash dividend of $0.125 per share, translating to an annualized $0.50 per share. This dividend will be paid on March 1, 2021, to stockholders recorded as of February 16, 2021. This decision reflects the company's ongoing commitment to return value to its shareholders.
Murphy Oil Corporation (NYSE: MUR) reported a net loss of $172 million for Q4 2020, translating to $1.11 per diluted share. Adjusted net loss stood at $14 million or $0.09 per diluted share. The company maintained production at 149,000 BOEPD and achieved adjusted EBITDAX of $271 million. For 2020, total liquidity remained robust at $1.7 billion, with capital expenditures of $712 million. Murphy sanctioned the low-cost Tupper Montney development, adding significant reserves. However, a total net loss of $1.1 billion for the year reflects challenges in commodity pricing and market conditions.
Murphy Oil Corporation (NYSE: MUR) will hold a conference call and webcast on January 28, 2021, at 9:00 a.m. ET to discuss its fourth quarter 2020 earnings. The financial and operational results will be released prior to market opening. Investors can access the webcast via the company’s website at ir.murphyoilcorp.com. For participation, the toll-free dial-in number is 888-886-7786 with conference ID 95330576. This event is part of Murphy's commitment to transparently communicate its performance and outlook to stakeholders.
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