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MURPHY OIL CORPORATION

(MUR)
  Report
Delayed Nyse  -  04:00 2022-12-02 pm EST
45.68 USD   -0.70%
11/23Goldman Sachs Raises Murphy Oil's Price Target to $50 From $44, Keeps Neutral Rating
MT
11/18Sector Update: Energy Stocks Slip Pre-Bell Friday
MT
11/18Murphy Oil Enters $800 Million Revolving Credit Facility
MT
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Murphy Oil : October Investor Presentation

10/03/2022 | 07:14am EST

INVESTOR UPDATE

OCTOBER 2022

www.murphyoilcorp.com 0

NYSE: MUR

Cautionary Statement and Investor Relations Contacts

Cautionary Note to US Investors - The United States Securities and Exchange Commission (SEC) requires oil and natural gas companies, in their filings with the SEC, to disclose proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We may use certain terms in this presentation, such as "resource", "gross resource", "recoverable resource", "net risked PMEAN resource", "recoverable oil", "resource base", "EUR" or "estimated ultimate recovery" and similar terms that the SEC's rules prohibit us from including in filings with the SEC. The SEC permits the optional disclosure of probable and possible reserves in our filings with the SEC. Investors are urged to consider closely the disclosures and risk factors in our most recent Annual Report on Form 10-K filed with the SEC and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC's website.

Forward-Looking Statements - This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as "aim", "anticipate", "believe", "drive", "estimate", "expect", "expressed confidence", "forecast", "future", "goal", "guidance", "intend", "may", "objective", "outlook", "plan", "position", "potential", "project", "seek", "should", "strategy", "target", "will" or variations of such words and other similar expressions. These statements, which express management's current views concerning future events, results and plans, are subject to inherent risks, uncertainties and assumptions (many of which are beyond our control) and are not guarantees of performance. In particular, statements, express or implied, concerning the company's future operating results or activities and returns or the company's ability and decisions to replace or increase reserves, increase production, generate returns and rates of return, replace or increase drilling locations, reduce or otherwise control operating costs and expenditures, generate cash flows, pay down or refinance indebtedness, achieve, reach or otherwise meet initiatives, plans, goals, ambitions or targets with respect to emissions, safety matters or other ESG (environmental/social/governance) matters, or pay and/or increase dividends or make share repurchases and other capital allocation decisions are forward-looking statements. Factors that could cause one or more of these future events, results or plans not to occur as implied by any forward-looking statement, which consequently could cause actual results or activities to differ materially from the expectations expressed or implied by such forward-looking statements, include, but are not limited to: macro conditions in the oil and gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see "Risk Factors" in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC") and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC's website and from Murphy Oil Corporation's website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.

Non-GAAP Financial Measures - This presentation refers to certain forward-lookingnon-GAAP measures. Definitions of these measures are included in the appendix.

Kelly Whitley

VP, Investor Relations & Communications 281-675-9107kelly_whitley@murphyoilcorp.com

Megan Larson

Staff Investor Relations Analyst 281-675-9470megan_larson@murphyoilcorp.com

www.murphyoilcorp.com 1

NYSE: MUR

Agenda

01

Murphy at a Glance

02

Murphy Priorities

03

Murphy Portfolio

04

Looking Ahead

www.murphyoilcorp.com 2

NYSE: MUR

Murphy at a Glance

Murphy is an independent exploration and production company,

producing in three areas with an advantaged portfolio and exploration upside

Onshore United States

  • Eagle Ford Shale on private lands in Texas with ~1,300 future locations on ~122,000 net acres
  • Produced 36.4 MBOEPD in 2Q 2022, comprised of 72% oil and 86% liquids

Onshore Canada

  • Tupper Montney ~1,400 future locations on ~100,000 net acres, produced 275 MMCFD in 2Q 2022
  • Kaybob Duvernay ~600 future locations on ~157,000 net acres, produced 7.3 MBOEPD in 2Q 2022

2Q 2022 Production1

22%

45% 164

MBOEPD

32%

Offshore Deepwater Gulf of Mexico

  • Fifth largest producer in the Gulf of Mexico, produced 70.2 MBOEPD1 in 2Q 2022
  • Executing major projects on schedule, first oil achieved at Khaleesi, Mormont, Samurai in April 2022

Exploration

  • ~1 BBOE of risked mean resources and more than 6 MM net acres across Gulf of Mexico, offshore Mexico, Brazil and Vietnam

YE 2021 Proved Reserves1

25%

699

49% MMBOE

26%

1 Excluding noncontrolling interest. Proved reserves are based on year-end 2021 third-party audited volumes using SEC pricing

US Onshore

Offshore

Canada Onshore

Note: Future locations and net acres as of December 31, 2021

www.murphyoilcorp.com 3

NYSE: MUR

Why Murphy Oil?

Sustainable oil and natural gas assets that are safely operated with low carbon emissions intensity in three operating areas across North America

High-potential exploration portfolio with industry-leading offshore capabilities

Strong generator of free cash flow with capital allocation flexibility

Financial discipline has led to 60-year track record of returning capital to shareholders

Supported by multi-decade founding family, with meaningful board and management ownership

www.murphyoilcorp.com 4

NYSE: MUR

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Murphy Oil Corporation published this content on 03 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 October 2022 11:13:02 UTC.


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Financials (USD)
Sales 2022 3 902 M - -
Net income 2022 988 M - -
Net Debt 2022 1 331 M - -
P/E ratio 2022 7,31x
Yield 2022 1,62%
Capitalization 7 101 M 7 101 M -
EV / Sales 2022 2,16x
EV / Sales 2023 1,83x
Nbr of Employees 696
Free-Float 75,1%
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 45,68 $
Average target price 52,38 $
Spread / Average Target 14,7%
EPS Revisions
Managers and Directors
Roger W. Jenkins COO & Executive VP-Exploration & Production
Thomas J. Mireles Chief Financial Officer & Executive Vice President
Claiborne P. Deming Chief Operating Officer & Executive Vice President
Eric M. Hambly Senior Vice President-Onshore
Maria A. Martinez Vice President-Human Resources & Administration
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