MURPHY OIL CORP
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
MUR$34.55-3.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Years Ended December 31 (Thousands of dollars except per share amounts) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Revenues and other income | |||
| Revenue from production | $3,376,639 | $4,038,451 | $2,801,215 |
| Sales of purchased natural gas | 72,215 | 181,689 | – |
| Total revenue from sales to customers | 3,448,854 | 4,220,140 | 2,801,215 |
| (Loss) on derivative instruments | – | (320,410) | (525,850) |
| Gain on sale of assets and other income | 11,293 | 32,932 | 23,916 |
| Total revenues and other income | 3,460,147 | 3,932,662 | 2,299,281 |
| Costs and expenses | |||
| Lease operating expenses | 784,391 | 679,342 | 539,546 |
| Severance and ad valorem taxes | 42,787 | 57,012 | 41,212 |
| Transportation, gathering and processing | 232,985 | 212,711 | 187,028 |
| Costs of purchased natural gas | 51,682 | 171,991 | – |
| Exploration expenses, including undeveloped lease amortization | 234,776 | 133,197 | 69,044 |
| Selling and general expenses | 117,306 | 131,121 | 121,950 |
| Depreciation, depletion and amortization | 861,602 | 776,817 | 795,105 |
| Accretion of asset retirement obligations | 46,059 | 46,243 | 46,613 |
| Impairment of assets | – | – | 196,296 |
| Other operating expense | 46,530 | 137,518 | 21,052 |
| Total costs and expenses | 2,418,118 | 2,345,952 | 2,017,846 |
| Operating income from continuing operations | 1,042,029 | 1,586,710 | 281,435 |
| Other income (loss) | |||
| Other (loss) income | (8,587) | 14,310 | (16,771) |
| Interest expense, net | (112,373) | (150,759) | (221,773) |
| Total other loss | (120,960) | (136,449) | (238,544) |
| Income from continuing operations before income taxes | 921,069 | 1,450,261 | 42,891 |
| Income tax expense | 195,921 | 309,464 | (5,862) |
| Income from continuing operations | 725,148 | 1,140,797 | 48,753 |
| Loss from discontinued operations, net of income taxes | (1,467) | (2,078) | (1,225) |
| Net income including noncontrolling interest | 723,681 | 1,138,719 | 47,528 |
| Less: Net income attributable to noncontrolling interest | 62,122 | 173,672 | 121,192 |
| NET INCOME (LOSS) ATTRIBUTABLE TO MURPHY | $661,559 | $965,047 | $(73,664) |
| INCOME (LOSS) PER COMMON SHARE – BASIC | |||
| Continuing operations | $4.27 | $6.23 | $(0.47) |
| Discontinued operations | (0.01) | (0.01) | (0.01) |
| Net income (loss) | $4.26 | $6.22 | $(0.48) |
| INCOME (LOSS) PER COMMON SHARE – DILUTED | |||
| Continuing operations | $4.23 | $6.14 | $(0.47) |
| Discontinued operations | (0.01) | (0.01) | (0.01) |
| Net income (loss) | $4.22 | $6.13 | $(0.48) |
| Cash dividends per common share | $1.100 | $0.825 | $0.500 |
| Average common shares outstanding (thousands) | |||
| Basic | 155,234 | 155,277 | 154,291 |
| Diluted | 156,646 | 157,475 | 154,291 |
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