Quarterly ResultMay 6, 2026, 04:39 PM
Murphy Oil Q1 Production Exceeds Guidance; Net Income $53M
AI Summary
Murphy Oil Corporation announced its first quarter 2026 financial and operating results, reporting net income of $53.0 million and diluted EPS of $0.37. The company exceeded its production guidance, achieving 174,200 BOEPD due to strong performance in the Eagle Ford Shale and high offshore uptime. Key operational advancements included spudding the Chinook #8 development well and progressing the Lac Da Vang project, while maintaining capital discipline and a strong balance sheet with $2.38 billion in liquidity.
Key Highlights
- Murphy Oil Q1 production reached 174,200 BOEPD, exceeding guidance.
- Q1 net income was $53.0 million ($0.37 diluted EPS).
- Adjusted EBITDA increased to $382.9 million in Q1 2026.
- Free cash flow was $41.4 million, up from $(44.9) million YoY.
- Spudded Chinook #8 well in Gulf of America, targeting H2 2026 first oil.
- Lac Da Vang project on track for first oil in Vietnam in Q4 2026.
- Q1 capital expenditures were $465.0 million, below guidance.
- Full-year 2026 production guidance maintained at 167-175 MBOEPD.