MURPHY OIL CORPORATION ANNOUNCES SECOND QUARTER RESULTS

About this update from Murphy Oil Corporation

[{"type":"text","content":"\nMurphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the second quarter ended June 30, 2026. As a supplement to this release, Murphy has also furnished a Quarterly Stockholder Update.\n\n\nUnless otherwise noted, the financial and operating highlights and metrics discussed in this commentary exclude noncontrolling interest (NCI).†\n(Millions of dollars, except volumes and per share amounts)\nThree months\nended June 30,\n2026\nNet income attributable to Murphy\n\n\n$\n232.2\nNet income attributable to Murphy per common share - Diluted\n\n\n$\n1.59\n \n\n\nAdjusted net income from continuing operations attributable to Murphy\n\n\n\n\n(Non-GAAP) 1\n$\n225.8\n \n\n\nAdjusted net income from continuing operations per average common share - Diluted (Non-GAAP) 1\n$\n1.55\n \n\n\nAdjusted EBITDA attributable to Murphy (Non-GAAP) 1\n$\n592.7\n \n\n\nAdjusted EBITDAX attributable to Murphy (Non-GAAP) 1\n$\n632.0\n \n\n\nNet cash provided by continuing operations activities\n\n\n$\n655.9\n \n\n\nOperating cash flow excluding working capital adjustments (Non-GAAP) 1\n$\n588.4\n \n\n\nFree cash flow (Non-GAAP) 1\n$\n110.0\n \n\n\nOil production, net (BOPD) 2\n \n\n\n85,265\n \n\n\nTotal production, net (BOEPD) 2\n \n\n\n168,995\n \n\n\nCapital expenditures (CAPEX)\n\n\n$\n476.0\n \n\n\nLease operating expense from continuing operations ($/BOE) 2\n$\n8.83\n \n\n\n1\nPlease see our schedules of adjusted net income, adjusted EBITDA and adjusted EBITDAX and free cash flow for details and reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures.\n\n\n2\nBarrels of oil per day (BOPD), barrels of oil equivalent (BOE) and barrels of oil equivalent per day (BOEPD).\n\n\nHighlights for the second quarter include:\n\nProduced 169,000 BOEPD, at the upper end of quarterly guidance primarily due to continued strong well performance at Tupper Montney\n\n\n\nEarned net income of $232 million in 2Q 2026 compared to $22 million in 2Q 2025, with the increase driven by stronger commodity prices and continued operational outperformance\n\n\n\nAnnounced oil discovery at the Bubale-1X exploration well in Block CI-709 offshore Côte d'Ivoire, with the well encountering 100 feet of net pay across two reservoirs\n...

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