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Murphy Oil

Murphy Oil (MUR) Q2 2025 Earnings

Reported Aug 6, 2025 at 4:39 PM ET · SEC Source

Q2 25 EPS

$0.27

BEAT +61.19%

Est. $0.17

Q2 25 Revenue

$683.1M

BEAT +8.04%

Est. $632.2M

vs S&P Since Q2 25

+22.1%

BEATING MARKET

MUR +39.9% vs S&P +17.8%

Market Reaction

Did MUR Beat Earnings? Q2 2025 Results

Murphy Oil delivered a sharply better-than-expected second quarter, with adjusted earnings of $0.27 per diluted share beating the $0.17 consensus estimate by 61.19%, even as tumbling commodity prices weighed heavily on headline results. Revenue of $6… Read more Murphy Oil delivered a sharply better-than-expected second quarter, with adjusted earnings of $0.27 per diluted share beating the $0.17 consensus estimate by 61.19%, even as tumbling commodity prices weighed heavily on headline results. Revenue of $683.07 million topped analyst expectations by 8.04%, though it still fell 14.7% year over year as realized oil prices slid 11% sequentially to $64.31 per barrel and natural gas prices dropped 29.5% to $1.88 per MCF. The clearest driver of the beat was a production surge to 189,677 BOEPD, clearing the high end of guidance, fueled by record-setting new wells in Eagle Ford's Karnes County and all 10 new Tupper Montney wells ranking among Murphy's all-time top-20 performers. With the company now eyeing an active exploration calendar, including Cello #1 and Banjo #1 wells in the Gulf of America and a Côte d'Ivoire deepwater program kicking off in Q4, Murphy reaffirmed full-year capital spending guidance and guided Q3 production to 185,000 to 193,000 BOEPD, signaling confidence in operational momentum despite the soft pricing environment.

Key Takeaways

  • • Strong new onshore well productivity exceeding expectations at Eagle Ford and Tupper Montney
  • • Karnes County Eagle Ford wells delivered highest initial production rates in Murphy EFS history averaging 2,123 BOEPD per well
  • • All 10 new Tupper Montney wells in Murphy all-time top-20 performers with 19.2 MMCFPD average 30-day IP
  • • Lower operating expenses at $11.80/BOE, down 14.1% sequentially
  • • Eagle Ford Shale operating costs down 18% or $12 million in H1 2025 vs H1 2024
  • • Completion of Samurai #3 and Khaleesi #2 workovers in Gulf of America
  • • Significantly lower realized oil prices ($64.31/bbl, down 11% sequentially) and natural gas prices ($1.88/MCF, down 29.5% sequentially)
24/7 Wall St

MUR YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

MUR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26
24/7 Wall St

MUR Revenue by Geography

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“I am very pleased with our solid operational results in the second quarter which were achieved through strong new onshore well performance, continued Gulf of America workover progress, and field development execution at Lac Da Vang (Golden Camel). It's an exciting time at Murphy as we look ahead to significant exploration and appraisal catalysts in the second half of the year.”

— Eric M. Hambly, Q2 2025 Earnings Press Release

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