Murphy Oil reports Q3 adjusted EPS $1.59, consensus $1.40

Reports Q3 revenue $959.6M, consensus $895.73M. Q3 production averaged 202 MBOEPD and consisted of 51% oil volumes, or 103 MBOPD. “Murphy had another great quarter with strong execution across our assets, resulting in significant free cash flow that we dedicated to paying down debt and repurchasing stock in accordance with our capital allocation framework. We also utilized part of the proceeds from the divestiture of a non-core portion of our Canadian assets to support our new country entry in Cote d’Ivoire and advance our Lac Da Vang field development project in Vietnam,” said CEO Roger Jenkins. “I am delighted we are progressing our strategy of Delever, Execute, Explore, Return as we close out 2023, and I look forward to Murphy’s many opportunities in the new year.”