Murphy Oil (MUR) Tops Q2 EPS by 6c, provides production guidance

Murphy Oil (NYSE: MUR) reported Q2 EPS of $0.81, $0.06 better than the analyst estimate of $0.75. Revenue for the quarter came in at $802.77 million versus the consensus estimate of $813.97 million.

Guidance:

Murphy maintains its 2024 accrued CAPEX range of $920 million to $1.02 billion. The company also maintains its full year 2024 production range of 180 to 188 MBOEPD, consisting of approximately 95 MBOPD oil and 105 MBOEPD liquids volumes, equating to 52 percent oil and 57 percent liquids volumes, respectively. Currently, the company expects to be at the lower end of the production range due to operational impacts in the Gulf of Mexico.
Production for third quarter 2024 is estimated to be in the range of 181.5 to 189.5 MBOEPD with 91.5 MBOPD, or approximately 50 percent, oil volumes. This range is impacted by 9.4 MBOEPD of total downtime, comprised of 3.9 MBOEPD of assumed Gulf of Mexico storm downtime, 2.9 MBOEPD of planned onshore downtime and 2.6 MBOEPD of planned Gulf of Mexico downtime. Both production and CAPEX guidance ranges exclude NCI.

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

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