MURPHY OIL CORP
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
MUR$35.96-1.0%Stored close · as of Nov 6, 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) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenues and other income | |||
| Revenue from production | $3,014,856 | $3,376,639 | $4,038,451 |
| Sales of purchased natural gas | 3,742 | 72,215 | 181,689 |
| Total revenue from sales to customers | 3,018,598 | 3,448,854 | 4,220,140 |
| (Loss) on derivative instruments | (1,707) | — | (320,410) |
| Gain on sale of assets and other operating income | 11,583 | 11,293 | 32,932 |
| Total revenues and other income | 3,028,474 | 3,460,147 | 3,932,662 |
| Costs and expenses | |||
| Lease operating expenses | 936,960 | 784,391 | 679,342 |
| Severance and ad valorem taxes | 39,162 | 42,787 | 57,012 |
| Transportation, gathering and processing | 210,827 | 232,985 | 212,711 |
| Costs of purchased natural gas | 3,147 | 51,682 | 171,991 |
| Exploration expenses, including undeveloped lease amortization | 133,538 | 234,776 | 133,197 |
| Selling and general expenses | 110,085 | 117,306 | 131,121 |
| Depreciation, depletion and amortization | 865,753 | 861,602 | 776,817 |
| Accretion of asset retirement obligations | 52,511 | 46,059 | 46,243 |
| Impairment of assets | 62,909 | — | — |
| Other operating expense | 10,989 | 46,530 | 137,518 |
| Total costs and expenses | 2,425,881 | 2,418,118 | 2,345,952 |
| Operating income from continuing operations | 602,593 | 1,042,029 | 1,586,710 |
| Other income (loss) | |||
| Other income (loss) | 70,902 | (8,587) | 14,310 |
| Interest expense, net | (105,926) | (112,373) | (150,759) |
| Total other loss | (35,024) | (120,960) | (136,449) |
| Income from continuing operations before income taxes | 567,569 | 921,069 | 1,450,261 |
| Income tax expense | 78,272 | 195,921 | 309,464 |
| Income from continuing operations | 489,297 | 725,148 | 1,140,797 |
| Loss from discontinued operations, net of income taxes | (2,812) | (1,467) | (2,078) |
| Net income including noncontrolling interest | 486,485 | 723,681 | 1,138,719 |
| Less: Net income attributable to noncontrolling interest | 79,314 | 62,122 | 173,672 |
| NET INCOME ATTRIBUTABLE TO MURPHY | $407,171 | $661,559 | $965,047 |
| NET INCOME (LOSS) PER COMMON SHARE – BASIC | |||
| Continuing operations | $2.73 | $4.27 | $6.23 |
| Discontinued operations | (0.02) | (0.01) | (0.01) |
| Net income | $2.71 | $4.26 | $6.22 |
| NET INCOME (LOSS) PER COMMON SHARE – DILUTED | |||
| Continuing operations | $2.72 | $4.23 | $6.14 |
| Discontinued operations | (0.02) | (0.01) | (0.01) |
| Net income | $2.70 | $4.22 | $6.13 |
| Cash dividends per common share | $1.200 | $1.100 | $0.825 |
| Average common shares outstanding (thousands) | |||
| Basic | 150,011 | 155,234 | 155,277 |
| Diluted | 151,027 | 156,646 | 157,475 |
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