MURPHY OIL CORP
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 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
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| (Thousands of dollars, except per share amounts) | 2024 | 2023 | 2024 | 2023 |
| Revenues and other income | ||||
| Revenue from production | $753,169 | $945,889 | $2,345,282 | $2,541,956 |
| Sales of purchased natural gas | – | 7,877 | 3,742 | 64,628 |
| Total revenue from sales to customers | 753,169 | 953,766 | 2,349,024 | 2,606,584 |
| (Loss) on derivative instruments | (1,344) | – | (1,344) | – |
| Gain on sale of assets and other income | 6,506 | 5,879 | 9,834 | 9,365 |
| Total revenues and other income | 758,331 | 959,645 | 2,357,514 | 2,615,949 |
| Costs and expenses | ||||
| Lease operating expenses | 222,886 | 193,402 | 716,778 | 587,678 |
| Severance and ad valorem taxes | 10,503 | 10,937 | 31,006 | 35,142 |
| Transportation, gathering and processing | 47,438 | 61,518 | 157,461 | 175,308 |
| Costs of purchased natural gas | – | 5,467 | 3,147 | 47,393 |
| Exploration expenses, including undeveloped lease amortization | 31,284 | 26,514 | 118,390 | 152,489 |
| Selling and general expenses | 24,871 | 30,745 | 78,925 | 74,398 |
| Depreciation, depletion and amortization | 223,632 | 237,493 | 650,309 | 648,830 |
| Accretion of asset retirement obligations | 13,241 | 11,675 | 39,068 | 34,196 |
| Other operating expense | 5,450 | 4,385 | 10,497 | 21,333 |
| Impairment of assets | – | – | 34,528 | – |
| Total costs and expenses | 579,305 | 582,136 | 1,840,109 | 1,776,767 |
| Operating income from continuing operations | 179,026 | 377,509 | 517,405 | 839,182 |
| Other income (loss) | ||||
| Other (loss) income | (3,926) | 8,811 | 33,870 | 1,044 |
| Interest expense, net | (21,258) | (29,984) | (62,265) | (88,695) |
| Total other loss | (25,184) | (21,173) | (28,395) | (87,651) |
| Income from continuing operations before income taxes | 153,842 | 356,336 | 489,010 | 751,531 |
| Income tax expense | 2,122 | 78,111 | 64,855 | 166,813 |
| Income from continuing operations | 151,720 | 278,225 | 424,155 | 584,718 |
| Loss from discontinued operations, net of income taxes | (608) | (421) | (2,123) | (744) |
| Net income including noncontrolling interest | 151,112 | 277,804 | 422,032 | 583,974 |
| Less: Net income attributable to noncontrolling interest | 12,018 | 22,462 | 65,197 | 38,701 |
| NET INCOME ATTRIBUTABLE TO MURPHY | $139,094 | $255,342 | $356,835 | $545,273 |
| INCOME (LOSS) PER COMMON SHARE – BASIC | ||||
| Continuing operations | $0.93 | $1.64 | $2.37 | $3.50 |
| Discontinued operations | – | – | (0.01) | – |
| Net income | $0.93 | $1.64 | $2.36 | $3.50 |
| INCOME (LOSS) PER COMMON SHARE – DILUTED | ||||
| Continuing operations | $0.93 | $1.63 | $2.35 | $3.47 |
| Discontinued operations | – | – | (0.01) | – |
| Net income | $0.93 | $1.63 | $2.34 | $3.47 |
| Cash dividends per common share | $0.300 | $0.275 | $0.900 | $0.827 |
| Average common shares outstanding (thousands) | ||||
| Basic | 149,384 | 155,454 | 151,401 | 155,749 |
| Diluted | 150,353 | 156,829 | 152,437 | 157,135 |
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