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Murphy Oil Corporation Announces Second Quarter 2018 Results

Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the second quarter ended June 30, 2018, including net income of $46 million, or $0.26 per diluted share.

Financial highlights for the second quarter include:

  • Generated adjusted income of $63 million, or $0.36 per diluted share
  • Achieved annualized year-to-date EBITDA to average capital employed of 20 percent
  • Returned 13 percent of operating cash flow to shareholders through dividend
  • Preserved balance sheet strength with 30 percent net debt to total capital employed ratio
  • Maintained approximately $2.0 billion of liquidity

Operating highlights for the second quarter include:

  • Produced 171,000 BOEPD, exceeding the high end of production guidance, with 59 percent liquids
  • Increased mid-point of annual production guidance by 1,000 BOEPD to 169,500 BOEPD
  • Successfully delineated existing pay zones in the Samurai Field with the Samurai-2 well and drilled additional successful zones in the exploration portion of the well
  • Increased Kaybob Duvernay production by 108 percent, year-over-year
  • Achieved average IP30 rates of 1,750 BOEPD at a Karnes 10-well pad in the Eagle Ford Shale, with seven of the wells producing at company-record peak rates
  • Negotiated operatorship and increased working interest to 40 percent in Vietnam Block 15-1/05, which includes the previously discovered LDV Field

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