Murphy Oil (MUR) Posts Q4 Loss of $3.41/Share

Murphy Oil (NYSE: MUR) reported Q4 EPS of ($3.41), which may not compare to the analyst estimate of ($1.20).

The net loss during the fourth quarter includes a non-cash impairment of oil and natural gas properties of $192.2 million, or $123.5 million net of tax, deepwater rig contract exit costs of $282.0 million, or $183.3 million net of tax, and recognition of a U.S. deferred tax charge of $188.5 million associated with a distribution from a foreign subsidiary.

Operating and financial highlights for the quarter and full-year 2015 include:

• Produced volumes of 200,753 boepd in the fourth quarter and 207,903 boepd for full-year 2015
• Spent $2.19 billion capital in 2015, $0.11 billion below guidance of $2.3 billion
• Recorded total proved reserve replacement of 123 percent in 2015, including 10 percent Malaysian sell-down in first quarter 2015
• Achieved first production at Dalmatian South #2 in the Gulf of Mexico
• Delivered 136 Eagle Ford Shale wells during 2015, with 648 operated wells at year-end
• Reduced lease operating expense per barrel by over 18 percent year-over-year
• Lowered G&A expense by approximately 16 percent year-over-year

For earnings history and earnings-related data on Murphy Oil (MUR) click here.

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