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Dec 31, 2025
Murphy Oil Q4 2025 Earnings Report
Murphy Oil Corporation announced its financial and operating results for the fourth quarter and full year ended December 31, 2025, including preliminary year-end 2025 reserves, 2026 capital expenditure, and production guidance.
Key Takeaways
Murphy Oil Corporation reported a net income of $11.9 million for the fourth quarter of 2025, with total revenues and other income reaching $624.557 million. The company announced successful appraisal well results in offshore Vietnam, maintained an 11-year reserve life, and increased its dividend by 8 percent for 2026.
Net income attributable to Murphy for Q4 2025 was $11.9 million, with diluted EPS of $0.08.
Total production for Q4 2025 was 181,431 BOEPD, exceeding the midpoint of quarterly guidance.
The company maintained an 11-year reserve life with preliminary proved reserves of 715 MMBOE.
Murphy increased its quarterly cash dividend by eight percent to $0.35 per share, or $1.40 per share annualized for 2026.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Murphy Oil Corporation provided production and capital expenditure guidance for the first quarter and full year 2026, anticipating continued growth and strategic investments.
Positive Outlook
- Total net production (excl. NCI) for 1Q 2026 is projected to be 164,000 to 172,000 BOEPD.
- Full year 2026 total net production (excl. NCI) is guided at 167,000 to 175,000 BOEPD.
- Capital expenditures (excl. NCI) for 1Q 2026 are estimated between $500 million and $580 million.
- Full year 2026 capital expenditures (excl. NCI) are projected to be $1,200 million to $1,300 million.
- The company plans to bring 30 Eagle Ford Shale wells online in 2026, with 15 in Q1 2026.
Challenges Ahead
- Exploration expense for 1Q 2026 is projected to be $100 million to $140 million, indicating significant exploration investment.
- The company's capital allocation includes substantial spending on Vietnam - Lac Da Vang Development ($120 million) and Hai Su Vang Appraisal ($75 million) in 2026.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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