Murphy Oil sees 2023 production 175.5-183.5 MBOEPD

2023 production guidance consists of approximately 99 MBOPD oil and 109 MBOEPD liquids volumes, equating to 55% oil and 61% liquids volumes, respectively. This reflects a 10% increase in oil volumes and 7% increase in total volumes from full year 2022. Q1 production is estimated to be 161-169 MBOEPD with 92 MBOPD, or 56%, oil volumes. Sees 2023 CapEx $950M. "Consistent with prior years, our capital spending program is more heavily weighted to the first half of 2023, enabling Murphy to maximize annual production and free cash flow. Further, we expect lower capital spending than in 2022, while increasing overall production and more notably, oil production as compared to 2022. We continue to maintain capital discipline across the business and execute on our capital allocation framework to further strengthen our balance sheet and provide enhanced shareholder returns," stated CEO Jenkins.