Murphy Oil (MUR) Tops Q3 EPS by 2c; Guides Q4, FY16 Production
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Murphy Oil (NYSE: MUR) reported Q3 EPS of ($0.18), $0.02 better than the analyst estimate of ($0.20).
Production in the third quarter 2016 averaged over 169.8 thousand barrels of oil equivalent per day (Mboepd), exceeding the high end of production guidance.
2016 AND FOURTH QUARTER GUIDANCE
Production for full-year 2016 is being tightened to the range of 174 - 175 Mboepd with fourth quarter 2016 production estimated in the range of 162 - 164 Mboepd. Capital spending for full-year 2016 is being maintained at $620.0 million, excluding $206.7 million associated with the acquisition cost of the Kaybob Duvernay and Placid Montney joint venture closed earlier this year. Details for production and capital expenditures guidance can be found in the attached schedules.
For earnings history and earnings-related data on Murphy Oil (MUR) click here.
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