Murphy Oil (MUR) Misses Q4 EPS by 1c, Revenues Miss

Murphy Oil (NYSE: MUR) reported Q4 EPS of ($0.09), $0.01 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $440.08 million versus the consensus estimate of $487.79 million.

Highlights for the fourth quarter include:

• Sanctioned low cost, capital efficient Tupper Montney development
• Produced 149 thousand barrels of oil equivalent per day, in line with guidance
• Generated adjusted EBITDAX of $271 million, or $19.77 per barrel of oil equivalent sold
• Continued on-time and on-budget execution of major Gulf of Mexico projects

“We quickly responded to the major pullback in commodity prices by drastically reducing our capital budget and cost structure while adjusting our operational plans, and continued supporting capital allocation to our major offshore projects. Our efforts resulted in strong liquidity, cash on hand and paying a dividend to our shareholders,” stated Roger W. Jenkins, President and Chief Executive Officer.

For earnings history and earnings-related data on Murphy Oil (MUR) click here.

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