This Day On The Street
Continue to site
ADVERTISEMENT
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 Quarterly Earnings

Total worldwide production in 2012 was 188,385 barrels of oil equivalent per day, up from 175,776 barrel equivalents in 2011. Total crude oil, condensate and gas liquids production averaged 105,766 barrels per day in 2012, compared to 101,269 barrels per day in 2011. The increase in oil volumes was mostly attributable to higher production at the Eagle Ford Shale and Kikeh. Oil volumes were lower in 2012 at the Terra Nova and Azurite fields. Natural gas sales volumes increased from 447 million cubic feet per day in 2011 to almost 496 million cubic feet per day in 2012, with the growth primarily attributable to higher gas volumes produced in the Tupper area. Future production in the Tupper area is expected to decline as drilling and production activities have been curtailed in this area due to weak North American natural gas sales prices.

The average sales price for crude oil and other liquids was $97.13 per barrel in 2012, up from $94.36 per barrel in 2011. North American natural gas was sold at an average price of $2.43 per MCF in 2012, down from the 2011 average of $4.26 per MCF. However, natural gas volumes produced offshore Sarawak were sold for $7.79 per MCF in 2012, compared to $6.76 per MCF in the prior year.

Refining and Marketing (Downstream)

The Company‚Äôs refining and marketing continuing operations generated a profit of $119.1 million in the first nine months of 2012 compared to a profit of $129.3 million in 2011. U.S. profits were $83.4 million in the first nine months of 2012, down from $172.9 million in the 2011 period. Income for the U.S. business declined in 2012 versus the prior year due to weaker margins for retail marketing and ethanol production operations. Per gallon margins for U.S. retail operations were 12.5 cents in 2012 compared to 16.5 cents in 2011. The U.K. Downstream business had a net profit of $35.7 million in the 2012 nine months compared to a net loss of $43.6 million in 2011, with the current year improvement fueled by significantly better refining margins.

5 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs