Murphy Oil (NYSE: MUR) reported Q1 EPS of $0.34, $0.36 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $664.62 million versus the consensus estimate of $531.86 million.

• Produced volumes of 169 Mboepd, on track to achieve full year production guidance
• Spent $215 million on capital expenditures, in line with planned annual capital budget of $890 million for full year 2017
• Reduced selling and general expenses by approximately 17 percent year-over-year, excluding severance expense in the prior year
• Closed the divestiture of Canadian heavy oil asset generating a $132 million pre-tax gain
• Executed planned quarterly Kaybob Duvernay appraisal program by drilling five wells, including the longest lateral to date of 9,500 feet, and brought three wells online

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