This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Murphy Oil Announces Preliminary Second Quarter Earnings

Worldwide production averaged 188,575 barrels of oil equivalent per day in the second quarter 2012, compared to 170,457 barrels of oil equivalent per day in the same quarter in 2011. Total crude oil and gas liquids production was 104,012 barrels per day in the second quarter of 2012 compared to 94,242 barrels per day in the 2011 quarter. The increase in oil production in 2012 was primarily attributable to higher gross production at the Kikeh field, offshore Sabah, as wells have been brought on stream in association with the ongoing field development and well work program. In addition, 2012 crude oil production in the United States was higher than 2011 levels primarily due to an ongoing development program in the Eagle Ford Shale area. Increases in Eagle Ford production more than offset lower volumes produced at fields in the Gulf of Mexico. Oil production at Syncrude in Western Canada was adversely affected in the 2012 quarter by equipment maintenance. Crude oil production at Terra Nova, offshore Eastern Canada, was also lower in the 2012 quarter primarily due to the start of a 150 day shut-in for equipment maintenance in June 2012. The Azurite field, offshore Republic of the Congo, had lower crude oil production in 2012 due to well decline and one well being offline during the quarter pending a mechanical workover. Crude oil and gas liquids sales volumes averaged 104,768 barrels per day in the second quarter of 2012 compared to 90,004 barrels per day in the 2011 quarter. Natural gas sales volumes averaged 507 million cubic feet per day in the second quarter of 2012 compared to 457 million cubic feet per day in the 2011 quarter. The increase in natural gas sales volumes in 2012 was attributable to higher gas production at the Tupper West area in British Columbia, Canada. The Company’s worldwide crude oil and condensate sales prices averaged $94.33 per barrel for the second quarter of 2012 compared to $99.37 per barrel in the second quarter 2011. North American natural gas sales prices averaged $2.15 per thousand cubic feet (MCF) in the 2012 quarter compared to $4.26 per MCF in the same quarter of 2011. Natural gas produced offshore Sarawak, Malaysia was sold at an average price of $7.88 per MCF during the second quarter 2012 compared to an average price of $6.40 per MCF in the second quarter 2011.

E&P Metrics
    Three Mos. Ended     Six Mos. Ended
June 30 June 30
2012     2011 2012     2011
Oil Production Volume – Bbls. per day 104,012 94,242 105,751 103,725
Natural Gas Sales Volume – MCF per day 507,379 457,288 516,507 435,283
Total BOE Production Volume – BOE per day 188,575 170,457 191,836 176,272
Average Realized Oil Sales Price – Per Bbl. $ 94.33 99.37 97.21 93.04

Average Realized North American Gas Sales Price – Per MCF
$ 2.15 4.26 2.36 4.30

Average Realized Sarawak Gas Sales Price – Per MCF
$ 7.88 6.40 7.80 6.15

Refining and Marketing (R&M)

The Company previously announced its intent to sell its U.K. R&M assets. Ongoing sale activities related to these assets continue.

2 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs