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Mar 31, 2025
Murphy Oil Q1 2025 Earnings Report
Murphy Oil Corporation announced its financial and operating results for the first quarter ended March 31, 2025, reporting net income attributable to Murphy of $73 million, or $0.50 net income per diluted share.
Key Takeaways
Murphy Oil Corporation reported a net income of $73 million for the first quarter of 2025, with an adjusted net income of $81 million. The company made a second oil discovery in offshore Vietnam, repurchased $100 million in shares, and acquired a floating production storage and offloading vessel.
Net income attributable to Murphy was $73 million, or $0.50 per diluted share.
Adjusted net income attributable to Murphy was $81 million, or $0.56 per diluted share.
An oil discovery was made at the Lac Da Hong-1X (Pink Camel) exploration well in offshore Vietnam, encountering 106 feet of net oil pay.
The company repurchased $100 million of stock, or 3.6 million shares, and acquired the BW Pioneer FPSO for $104 million.
Revenue by Geographic Location
Forward Guidance
Murphy maintains its 2025 accrued CAPEX range and full-year production guidance, with second-quarter production estimated between 177 to 185 MBOEPD.
Positive Outlook
- Full year 2025 production is expected to be in the range of 174.5 to 182.5 MBOEPD.
- Second quarter 2025 production is estimated to be in the range of 177 to 185 MBOEPD.
- Second quarter 2025 production is expected to consist of 48 percent oil volumes.
- The company continues to allocate a minimum of 50 percent of adjusted free cash flow to shareholder returns, primarily through buybacks.
- Murphy will continue to assess the appropriate shareholder return allocation under its modified plan, including potential dividend increases.
Challenges Ahead
- Winter storm activity in the first quarter delayed first production at two key operated wells in the Gulf of America.
- The winter storm activity impacted the schedule of remaining workover plans.
- Due to first quarter impacts, full year production is anticipated to be towards the lower end of the production guidance range.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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