Morningstar

Morningstar, Inc.

Equity Bottom-Up

Murphy Oil repositioned itself as a pure-play exploration and production company back in 2013, spinning off its retail gas station business and divesting its U.K. refinery. Historically, the company’s capital efficiency was skewed to the weaker end of the peer group range, even after this transformation, though management has narrowed the gap more recently by downsizing the portfolio and shifting capital toward higher-margin North American resource plays.The most attractive development…

Murphy delivered total production of 192 mboe/d in the first quarter (including production from assets to be divested but excluding volumes attributable to a noncontrolling interest). This was well below guidance of 198-200 mboe/d, due to a variety of operational issues in the North American region. A 10-well Eagle Ford pad experienced a significant execution delay that also impacted adjacent producing wells that were shut in while the new wells were fracked. In Canada, there were…

United States

Murphy Oil Corporation is a worldwide oil and gas exploration and production company with refining and marketing operations in the United States and the United Kingdom. The Company also has exploration and production activities in countries that include United States, Canada, the United Kingdom, Malaysia, and Ecuador. Murphy Oil has retail operations as well in the United States.

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