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Murphy Oil reports Q4 adjusted EPS $1.10, consensus $1.17
The Fly

Murphy Oil reports Q4 adjusted EPS $1.10, consensus $1.17

Reports Q4 revenue $975.2M, consensus $862.4M. Q4 production averaged 173.6 MBOEPD and consisted of 56% oil volumes, or 97.0 MBOPD. Q4 production was impacted by 1.5 MBOEPD of primarily non-operated unplanned Gulf of Mexico downtime, 1.2 MBOEPD of winter weather impacts and 1.2 MBOEPD due to lower performance in the Tupper Montney. "I am proud of all we accomplished at Murphy in 2022. Our meaningful progress and consistent execution were particularly evident in our offshore business, as we completed the initial phase of the Khaleesi, Mormont, Samurai field development project with production exceeding expectations throughout the year," said CEO Roger Jenkins. "Our disciplined spending, coupled with higher realized oil prices, enabled us to increase our long-standing dividend, achieve our debt reduction goal and position the company for the second phase of our capital allocation framework, Murphy 2.0. As we look ahead to 2023 and continue building on the momentum of 2022, we remain confident in our strong operational capabilities and financial positioning."

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