Murphy Oil Corporation (MUR) Earnings Call Transcripts

Murphy Oil Corporation's Latest Earnings Call - June 23, 2026

In the second quarter of fiscal year 2026, Murphy Oil Corporation reported strong operational updates, particularly regarding its exploration activities in West Africa. The company announced a commercial discovery at the Bubale well, with a resource estimate of 340 million to 850 million barrels of oil equivalent. Management indicated that the capital expenditure (CapEx) for the year would exceed previous guidance due to increased spending on appraisal wells, signaling a proactive approach to capitalize on exploration success. Revenue and earnings figures were not disclosed in the transcript, but management expects to generate strong cash flows due to favorable oil prices.

Reported metrics

Guidance from management

Management signaled that CapEx will likely exceed previous guidance due to increased spending on appraisal wells, with further updates expected in the August earnings call.

What management said

I think we'll move to the appraisal well in the coming weeks, and I would expect it to be less than 3 months to execute. So sometime later in the year, sometime probably third quarter, fourth quarter, we ought to have a result depending on how it goes. And I think it's likely that we'll need more appraisal, as I said, beyond that well. And so we'll probably be collecting data on Bubale well into next year before we k...

We have quite a few remaining prospects in the same age intervals and some other intents like Albi and interval. So we're going to learn from all of our 3 wells what can we glean from all the results and what does that mean for future prospectivity? I think that near-term focus will be on appraising Bubale and moving it to a development as quickly as but we'll likely be back here drilling additional exploration wells...

What analysts pressed on

Analysts expressed concerns regarding the company's ability to manage capital allocation effectively, especially with the increased spending on appraisal wells and the existing debt level. There were also questions about the timelines for appraisal results and the potential for further discoveries in West Africa.

Main topics on the call

• Bubale Discovery — Murphy Oil announced a commercial discovery at the Bubale well, stating, "we think we found at least a minimal threshold to have a commercial development." The resource estimate ranges from 340 million to 850 million bar...
• Increased CapEx Guidance — Management indicated that the CapEx for the year would likely exceed previous guidance due to increased spending on appraisal wells, stating, "we're probably going to be closer to $140 million" for the Bubale well alone.
• Exploration Strategy — The company highlighted its improved exploration strategy, achieving a 60% success rate over the past three years. CEO Eric Hambly noted, "you need really skilled people with the right data and creative thinking in order...
• Gulf of America Production — Murphy expects significant contributions from the Shanduk #8 well, which is projected to add 10,000 to 12,000 barrels per day net to production. This well is on track to start producing in the second half of the year, wh...

Read the full Murphy Oil Corporation transcript (June 23, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 43 Murphy Oil Corporation earnings call transcripts on record, spanning January 30, 2020 to August 6, 2026. Based on this history, Murphy Oil Corporation reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MUR

Exchange

NYSE

Country

US

Sector

Energy

Industry

Oil, Gas and Consumable Fuels

Calls on record

43

First call

January 30, 2020

Most recent

August 6, 2026

Reporting cadence

quarterly