Murphy oilcorporation pres_2014

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Murphy oilcorporation pres_2014

  1. 1. 1MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR SANFORD C. BERNSTEIN 30TH ANNUAL STRATEGIC DECISIONS CONFERENCE 2014 ROGER JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MAY 29, 2014 EXPLORATION DRIVEN. DELIVERY FOCUSED.
  2. 2. 2MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR Cautionary Statement Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. We may use certain terms in this presentation, such as “resource”, “gross resource”, “recoverable resource”, “net risked PMEAN resource”, “recoverable oil”, “resource base”, “EUR or estimated ultimate recovery” and similar terms that the SEC’s rules strictly prohibit us from including in filings with the SEC. This presentation contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements include, but are not limited to, the volatility and level of crude oil and natural gas prices, the level and success rate of our exploration programs, our ability to maintain production rates and replace reserves, political and regulatory instability, and uncontrollable natural hazards. Additionally, the Company may be unable to sell its U.K. downstream business as it desires to do because it may fail to execute a sale of these operations on acceptable terms. For further discussion of risk factors, see Murphy’s 2013 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission. Murphy undertakes no duty to publicly update or revise any forward-looking statements.
  3. 3. 3MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR Our Strategy Exploration Driven… Delivery Focused… EXECUTION Top Tier Capability on Onshore & Offshore Projects EXPLORATION Oil-Weighted, Needle Moving Prospects in Under-Explored Basins MAINTAIN Diverse & Highly Profitable Oil-Weighted Portfolio BALANCE Low Risk NA Onshore & Global Offshore PREFERRED PARTNER Efficient & Commercially Focused FINANCIAL Capability & Discipline SAFE & RESPONSIBLE
  4. 4. 4MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 0 10 20 30 40 50 60 1Q 13 4Q 13 1Q 14 Oil-Weighted Portfolio Delivers Results EBITDAX/BOE, $/BOE 0 10 20 30 40 50 60 1Q 13 4Q 13 1Q 14 EBITDA/BOE, $/BOE 2013 MUR 2013 MUR Peer Group: APA, APC, COP, DVN, EOG, HES, MRO, NBL, OXY, PXD, TLM Source: Evaluate Energy 2013 Peers 2013 Peers 1Q 2014 Peers 1Q 2014 Peers
  5. 5. 5MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR PRODUCTION, MBOEPD Leading in Volume and Value 8.8 8.3 10.6 10.8 8.5 7.4 6.7 8.2 8.5 9.2 120 116 100 103 129 163 186 179 195 205 0 30 60 90 120 150 180 210 0 6 12 18 24 30 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 R/P (YRS) Production Growth – Reserves Life Increasing APC APA COP DVN EOG HES MRO MUR NBL OXY PXD TLM -40% -30% -20% -10% 0% 10% 20% 30% 40% -40% -20% 0% 20% 40% Future Net Cash Flows, % Change 2011 to 2013 Proved Reserves And Future Net Cash Flows Data From YE 2013 SEC 10-K Filings (excl. TLM), 2013 Annual Report (TLM) Proved Reserves, % Change 2011 to 2013
  6. 6. 6MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR 0 50 100 150 200 250 300 350 400 2013 2014 2015 2016 2017 2018 2019 NA Onshore Global Offshore Risked Exploration Expected Range Applicable to Total Production Profile 5-Year Production Outlook 5 Year Outlook MBOEPD (Net) ► Exploration has Needle Moving Impact ► ~80% Oil & Oil-Indexed ► GOM Discoveries Shortest Pipeline to 1st Production
  7. 7. 7MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR Projected Strong Free Cash Flow 0 1,000 2,000 3,000 4,000 5,000 6,000 2014 2015 2016 2017 2018 2019 Risked Exploration - App & Dev Share Repurchase Dividends Exploration - Wildcat CapEx - Base Assets CF w/o Exploration Success CF w/Exploration Success 0 1,000 2,000 3,000 4,000 5,000 6,000 2014 2015 2016 2017 2018 2019 Cum FCF w/Explor Success Cum FCF w/o Explor Success Cumulative Free Cash Flow (FCF), $MM Cash Flow vs CapEx, $MM ► Expected Cash Flow/Capex Parity  2014-2015 ► Projected Free Cash Flow from 2016 to 2019
  8. 8. 8MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR Investing In Murphy ► Well Positioned as an E&P Player ► Profitability Will Continue Due to Diverse Oil-Weighted Business Model ► Exploration-Focused With Strong Acreage Position ► Eagle Ford is a Legacy Field & Provides Balance to Portfolio ► Portfolio Review Continues ► Proven Ability Onshore & Offshore ► Free Cash Flow in Sight
  9. 9. 9MURPHY OIL CORPORATION www.murphyoilcorp.com NYSE: MUR SANFORD C. BERNSTEIN 30TH ANNUAL STRATEGIC DECISIONS CONFERENCE 2014 ROGER JENKINS PRESIDENT & CHIEF EXECUTIVE OFFICER MAY 29, 2014 EXPLORATION DRIVEN. DELIVERY FOCUSED.

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