Murphy Oil reports Q1 adjusted EPS 85c, consensus 82c

Reports Q1 revenue $796.41M, consensus $749.63M. “Murphy had another solid quarter. We progressed our offshore plans and produced above expectations from our onshore assets. We advanced our 2024 onshore well delivery program, with new wells in the Eagle Ford Shale, Tupper Montney and Kaybob Duvernay either currently flowing or expected to come online in the near term. Further, our upcoming Gulf of Mexico and Vietnam exploration wells have the potential to expand our resource base,” said Roger W. Jenkins, CEO. “I am pleased we repurchased $50 million of stock at an average price below $40 per share, advancing our share repurchase program. I look forward to production growth as we execute our 2024 plans, leading to increased free cash flow that will continue to enhance shareholder returns.”