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Murphy Oil

Murphy Oil (MUR) Q4 2025 Earnings

Reported Jan 28, 2026 at 4:43 PM ET · SEC Source

Q4 25 EPS

$0.14

BEAT +610.95%

Est. $-0.03

Q4 25 Revenue

$624.6M

MISS 2.09%

Est. $637.9M

vs S&P Since Q4 25

-4.7%

TRAILING MARKET

MUR +2.6% vs S&P +7.3%

Full Year 2025 Results

FY 25 EPS

$1.37

BEAT +15.38%

Est. $1.19

FY 25 Revenue

$2.72B

MISS 0.24%

Est. $2.73B

Market Reaction

Did MUR Beat Earnings? Q4 2025 Results

Murphy Oil delivered a sharply better-than-expected bottom line in Q4 2025, posting adjusted EPS of $0.14 against a consensus estimate of -$0.03, a beat of 566.67%, even as revenue of $624.56 million came in 3.69% below the $648.47 million estimate a… Read more Murphy Oil delivered a sharply better-than-expected bottom line in Q4 2025, posting adjusted EPS of $0.14 against a consensus estimate of -$0.03, a beat of 566.67%, even as revenue of $624.56 million came in 3.69% below the $648.47 million estimate and fell 6.7% year-over-year. The primary driver of the revenue shortfall was softer commodity pricing, with realized oil at $59.21 per barrel, down $6.97 from Q3, though production of 181,400 BOEPD exceeded the midpoint of quarterly guidance and full-year output averaged 182,300 BOEPD at the high end of targets. A standout strategic development was the successful appraisal of Hai Su Vang in offshore Vietnam, where drill stem tests showed approximately 12,000 BOPD in combined flow rates, lifting recoverable resource estimates toward the top of the prior 170-430 MMBOE range. Looking ahead, Murphy guided 2026 production at 167,000-175,000 BOEPD, a step down from 2025 levels due largely to reduced Tupper Montney volumes, prompting at least one analyst to trim their price target on the softer outlook.

Key Takeaways

  • • Production of 181,400 BOEPD exceeded quarterly guidance midpoint
  • • Full year production of 182,300 BOEPD at high end of annual guidance range
  • • 20% reduction in lease operating expense per BOE year-over-year to $10.89
  • • 7% year-over-year reduction in Eagle Ford Shale drilling costs
  • • Record-setting well performance in onshore Eagle Ford program at Karnes and Catarina
  • • Highest-performing EFS wells in Company history per 1,000 feet of completed lateral length
  • • Longest laterals drilled in Company history at both Tupper Montney and Kaybob Duvernay
  • • Softer global oil price environment reduced realized oil prices to $59.21 per barrel in Q4
  • • Natural gas realized prices increased 56% quarter-over-quarter to $2.34 per MCF
24/7 Wall St

MUR YoY Financials

Q4 2025 vs Q4 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

“Throughout 2025 we stayed true to our strategy — allocate capital with discipline, execute our core plan, and pursue selective, high impact exploration. We delivered record-setting well performance in our onshore program, advanced our exploration agenda, and strengthened our liquidity and debt maturity profile. Our Hai Su Vang discovery and appraisal success, along with our broader Vietnam portfolio, position us for material new growth over the coming decade. Our accomplishments in 2025 have provided a robust foundation for continued progress in 2026, positioning us to deliver sustainable value through all market cycles.”

— Eric M. Hambly, Q4 2025 Earnings Press Release

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