CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| Revenues and other income | ||||
| Total revenue from sales to customers | $ 683,065,000 | $ 801,007,000 | $ 1,355,795,000 | $ 1,595,855,000 |
| Gain on derivative instruments | 10,808,000 | 0 | 1,349,000 | 0 |
| Gain on sale of assets and other operating income | 1,697,000 | 1,764,000 | 4,137,000 | 3,328,000 |
| Total revenues and other income | 695,570,000 | 802,771,000 | 1,361,281,000 | 1,599,183,000 |
| Costs and expenses | ||||
| Lease operating expenses | 215,554,000 | 259,628,000 | 420,633,000 | 493,892,000 |
| Severance and ad valorem taxes | 10,828,000 | 10,417,000 | 19,478,000 | 20,503,000 |
| Transportation, gathering and processing | 54,070,000 | 53,470,000 | 102,921,000 | 110,023,000 |
| Costs of purchased natural gas | 0 | 2,987,000 | 0 | 3,147,000 |
| Exploration expenses, including undeveloped lease amortization | 10,399,000 | 42,677,000 | 24,887,000 | 87,106,000 |
| Selling and general expenses | 36,919,000 | 22,893,000 | 67,834,000 | 54,054,000 |
| Depreciation, depletion and amortization | 259,324,000 | 215,543,000 | 453,484,000 | 426,677,000 |
| Accretion of asset retirement obligations | 14,432,000 | 13,053,000 | 28,477,000 | 25,827,000 |
| Impairment of assets | 0 | 0 | 0 | 34,528,000 |
| Other operating expense (income) | 1,833,000 | (2,219,000) | 7,462,000 | 5,047,000 |
| Total costs and expenses | 603,359,000 | 618,449,000 | 1,125,176,000 | 1,260,804,000 |
| Operating income from continuing operations | 92,211,000 | 184,322,000 | 236,105,000 | 338,379,000 |
| Other income (loss) | ||||
| Other income (loss) | (32,304,000) | 26,245,000 | (29,902,000) | 37,796,000 |
| Interest expense, net | (25,053,000) | (20,986,000) | (48,576,000) | (41,007,000) |
| Total other income (loss) | (57,357,000) | 5,259,000 | (78,478,000) | (3,211,000) |
| Income from continuing operations before income taxes | 34,854,000 | 189,581,000 | 157,627,000 | 335,168,000 |
| Income tax expense | 1,032,000 | 32,676,000 | 33,754,000 | 62,733,000 |
| Income from continuing operations | 33,822,000 | 156,905,000 | 123,873,000 | 272,435,000 |
| Income (loss) from discontinued operations, net of income taxes | 1,302,000 | (643,000) | 669,000 | (1,515,000) |
| Net income including noncontrolling interest | 35,124,000 | 156,262,000 | 124,542,000 | 270,920,000 |
| Less: Net income attributable to noncontrolling interest | 12,844,000 | 28,523,000 | 29,226,000 | 53,179,000 |
| NET INCOME ATTRIBUTABLE TO MURPHY | $ 22,280,000 | $ 127,739,000 | $ 95,316,000 | $ 217,741,000 |
| NET INCOME (LOSS) PER COMMON SHARE – BASIC | ||||
| Continuing operations (in USD per share) | $ 0.15 | $ 0.84 | $ 0.66 | $ 1.44 |
| Discontinued operations (in USD per share) | 0.01 | 0 | 0 | (0.01) |
| Net income (in USD per share) | 0.16 | 0.84 | 0.66 | 1.43 |
| NET INCOME (LOSS) PER COMMON SHARE – DILUTED | ||||
| Continuing operations (in USD per share) | 0.15 | 0.83 | 0.66 | 1.43 |
| Discontinued operations (in USD per share) | 0.01 | 0 | 0 | (0.01) |
| Net income (in USD per share) | 0.16 | 0.83 | 0.66 | 1.42 |
| Cash dividends per common share (in USD per share) | $ 0.325 | $ 0.300 | $ 0.650 | $ 0.600 |
| Average common shares outstanding (thousands) | ||||
| Basic (in shares) | 142,720,904 | 152,153,401 | 143,502,425 | 152,408,912 |
| Diluted (in shares) | 143,215,614 | 153,143,584 | 144,143,851 | 153,479,678 |
| Revenue from production | ||||
| Revenues and other income | ||||
| Total revenue from sales to customers | $ 683,065,000 | $ 797,510,000 | $ 1,355,795,000 | $ 1,592,113,000 |
| Sales of purchased natural gas | ||||
| Revenues and other income | ||||
| Total revenue from sales to customers | $ 0 | $ 3,497,000 | $ 0 | $ 3,742,000 |
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- Definition Average Common Shares Outstanding No definition available.
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- Definition Gain Loss on Sale of Assets and Other Income No definition available.
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- Definition Transportation, Gathering and Processing Costs No definition available.
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- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of impairment loss for oil and gas properties with proved and unproved reserves in oil- and gas-producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Per diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition A tax assessed on oil and gas production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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