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Murphy Oil

Murphy Oil (MUR) Q3 2025 Earnings

Reported Nov 5, 2025 at 4:58 PM ET · SEC Source

Q3 25 EPS

$0.41

BEAT +131.90%

Est. $0.18

Q3 25 Revenue

$733.0M

BEAT +9.20%

Est. $671.2M

vs S&P Since Q3 25

+8.5%

BEATING MARKET

MUR +19.6% vs S&P +11.1%

Market Reaction

Did MUR Beat Earnings? Q3 2025 Results

Murphy Oil Corporation delivered a sharply stronger-than-expected third quarter, posting adjusted EPS of $0.41 against a consensus estimate of $0.18, a beat of 131.90%, while revenue of $732.99 million cleared the $671.24 million estimate by 9.20%, e… Read more Murphy Oil Corporation delivered a sharply stronger-than-expected third quarter, posting adjusted EPS of $0.41 against a consensus estimate of $0.18, a beat of 131.90%, while revenue of $732.99 million cleared the $671.24 million estimate by 9.20%, even as total revenue slipped 2.7% year over year. The standout driver was operational execution, with production reaching 200.4 MBOEPD, exceeding the high end of guidance for the second consecutive quarter, fueled by strong new well productivity in the Eagle Ford Shale and zero storm downtime in the Gulf of America. On a GAAP basis, the company recorded a net loss due to a $92.00 million non-cash impairment on the Dalmatian field, tied to a decision to exit future investment there given unfavorable third-party cost allocations. Capital discipline was equally evident, with quarterly CAPEX of just $163.90 million well below the $260.00 million guidance. Looking ahead, Murphy expects full-year production near the high end of its 174,500 to 182,500 BOEPD guidance range, with the Lac Da Vang project in Vietnam on track for first oil in Q4 2026.

Key Takeaways

  • • Production outperformed high end of guidance at 200.4 MBOEPD driven by strong new well productivity and no storm downtime in Gulf of America
  • • Eagle Ford Shale Catarina wells surpassed initial production expectations with three wells ranking as all-time top three in Dimmit County
  • • Tupper Montney delivered record quarterly gross production of 77.8 MBOEPD
  • • Gulf of America facilities achieved exceptional uptime: Delta House 100%, King's Quay 99.9%, Pioneer 99.8%
  • • Operating expenses improved to $9.39 per BOE, down 20% sequentially
  • • Drilling cost per foot reduced by 8% and completion cost per lateral foot by 9% year-to-date vs 2024
  • • Eagle Ford Shale operating costs down 36% compared to Q3 2024
  • • Weak AECO natural gas pricing was a significant headwind with natural gas at 47% of production mix
24/7 Wall St

MUR YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

MUR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26
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MUR Revenue by Geography

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“I am pleased with our operational performance across our asset base including Eagle Ford, Tupper Montney, and Gulf of America. I am proud of our team for continuing to innovate and evolve our completions and flowback designs to achieve higher capital efficiency in our onshore operations. We saw great performance from our Gulf of America asset and successfully completed all planned workover activity. Additionally, subsequent to quarter end, we executed major milestones on our Lac Da Vang (Golden Camel) project. We remain focused on core execution as we progress our impactful offshore exploration and appraisal program across three continents in the fourth quarter.”

— Eric M. Hambly, Q3 2025 Earnings Press Release

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