v3.25.2
Revenue from Contracts with Customers (Tables)
6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The Company’s revenues and other income for the three-month and six-month periods ended June 30, 2025 and 2024 were as follows.
Three Months Ended
June 30,
Six Months Ended
June 30,
(Thousands of dollars)2025202420252024
Net crude oil and condensate revenue
United States - Onshore
$166,101 $145,955 $275,559 $288,498 
United States - Offshore 1
343,080 501,692 695,442 982,131 
Canada - Onshore
12,583 19,580 27,313 33,453 
Canada - Offshore
45,741 43,326 120,210 98,101 
Other2,948 4,307 2,948 4,209 
Total crude oil and condensate revenue570,453 714,860 1,121,472 1,406,392 
Net natural gas liquids revenue
United States - Onshore
9,893 7,311 18,380 15,147 
United States - Offshore 1
8,311 9,337 17,560 19,711 
Canada - Onshore
1,523 1,595 3,270 3,032 
Total natural gas liquids revenue19,727 18,243 39,210 37,890 
Net natural gas revenue
United States - Onshore
8,099 3,352 16,066 7,628 
United States - Offshore 1
16,726 10,500 36,667 23,389 
Canada - Onshore
68,060 50,555 142,380 116,814 
Total natural gas revenue92,885 64,407 195,113 147,831 
Revenue from production683,065 797,510 1,355,795 1,592,113 
Sales of purchased natural gas 2
Canada - Onshore
 3,497  3,742 
Total sales of purchased natural gas 3,497  3,742 
Total revenue from sales to customers683,065 801,007 1,355,795 1,595,855 
Gain on derivative instruments10,808 — 1,349 — 
Gain on sale of assets and other operating income1,697 1,764 4,137 3,328 
Total revenues and other income$695,570 $802,771 $1,361,281 $1,599,183 
1 Includes revenue attributable to noncontrolling interest in MP GOM.
2 Purchases of natural gas are reported on a gross basis when Murphy takes control of the product and has risks and rewards of ownership. Sales of purchased natural gas are reported when the contractual performance obligations are satisfied. This occurs at the time the product is delivered to a third-party purchaser at the contractually determinable price.
Schedule of Current Long-Term Contracts Outstanding
As of June 30, 2025, the Company had the following sales contracts in place which are expected to generate revenue from sales to customers for a period over 12 months starting at the inception of the contract:
LocationCommodityEnd DateDescriptionApproximate Volumes
U.S.Natural Gas and NGLsQ2 2030Deliveries from dedicated acreage in Eagle Ford ShaleAs produced
CanadaNatural GasQ4 2025Contracts to sell natural gas at USD index pricing25 MMCFD
CanadaNatural GasQ4 2026Contracts to sell natural gas at USD index pricing49 MMCFD
CanadaNatural GasQ4 2027Contracts to sell natural gas at USD index pricing30 MMCFD
CanadaNatural GasQ4 2028Contracts to sell natural gas at USD index pricing10 MMCFD
CanadaNatural GasQ4 2025Contracts to sell natural gas at CAD fixed pricing40 MMCFD
CanadaNatural GasQ4 2026Contracts to sell natural gas at CAD fixed pricing50 MMCFD
CanadaNGLs
Q4 2026
Contracts to sell NGLs at CAD index pricingAs produced