MUR on NYSE

Murphy Oil

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons5

Company engaged in hydrocarbon exploration

Murphy Oil Corporation is an American energy company engaged in hydrocarbon exploration headquartered in Houston, Texas. The company is ranked 995th on the Fortune 500 and 1970th on the 2023 Forbes Global 2000. As of December 31, 2025, the company had 730 million barrels of oil equivalent (4.5×109 GJ) of estimated proved reserves, of which 37% was petroleum, 58% was natural gas, and 5% was natural gas liquids.3 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

1964Founded1

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  • TickerMUR on NYSE1
  • Industryextraction of crude petroleum and natural gas, petroleum industry1
  • HeadquartersEl Dorado1
  • Founded inLouisiana1
  • Websitewww.murphyoilcorp.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address9805 Katy Fwy, Suite G-200, Houston, Tx 770246
  • Filer categoryLarge accelerated filer6
  • LEIQBKYQD0ODE7DC7PDIN914
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 6127154
MurphyHoustonOffice
Photo: Lord envy, CC BY-SA 4.0, via Wikimedia Commons9

Murphy Oil Corporation is an American energy company engaged in hydrocarbon exploration headquartered in Houston, Texas. The company is ranked 995th on the Fortune 500 and 1970th on the 2023 Forbes Global 2000.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

11.2%Operating margin10
3.9%Net margin10
-10.9%Revenue growth, 202510
2.0%Return on equity10
0.25×Debt to equity10

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin5¢$137.3M
  • Other costs89¢$2.4B
  • Income tax2¢$44.6M
  • Profit4¢$104.2M

Out of $2.7B in revenue.10

Financial statements

Revenue1112131410$2.7B in 2025−5% since 2019
0$2.0B$4.0B$6.0B2019: $2.8B$2.8B20192020: $1.8B$1.8B2020−38%2021: $2.8B$2.8B2021+60%2022: $4.2B$4.2B2022+51%2023: $3.4B$3.4B2023−18%2024: $3.0B$3.0B2024−12%2025: $2.7B$2.7B2025−11%
Operating income1112131410$301.2M in 2025−32% since 2019
-$2.0B-$1.0B0$1.0B$2.0B2019: $445.3M$445.3M20192020: -$1.4B-$1.4B20202021: $281.4M$281.4M20212022: $1.6B$1.6B2022+464%2023: $1.0B$1.0B2023−34%2024: $602.6M$602.6M2024−42%2025: $301.2M$301.2M2025−50%
Net income1112131410$104.2M in 2025−91% since 2019
-$2.0B-$1.0B0$1.0B$2.0B2019: $1.1B$1.1B20192020: -$1.1B-$1.1B20202021: -$73.7M-$73.7M2021−94%2022: $965.0M$965.0M20222023: $661.6M$661.6M2023−31%2024: $407.2M$407.2M2024−38%2025: $104.2M$104.2M2025−74%
Fiscal year2019202020212022202320242025
Revenue$2.8B11$1.8B12$2.8B13$4.2B14$3.4B10$3.0B10$2.7B10
Cost of revenue$012$013$172.0M14$51.7M10$3.1M10$010
Selling, general and admin$232.7M11$140.2M12$122.0M13$131.1M14$117.3M10$110.1M10$137.3M10
Operating expenses$2.0B13$2.3B14$2.4B10$2.4B10$2.4B10
Operating income$445.3M11-$1.4B12$281.4M13$1.6B14$1.0B10$602.6M10$301.2M10
Interest$219.3M11$169.4M12$221.8M13$150.8M13$112.4M13
Income before tax$42.9M13$1.5B14$921.1M10$567.6M10$182.9M10
Income tax$14.7M11-$293.7M12-$5.9M13$309.5M14$195.9M10$78.3M10$44.6M10
Net income$1.1B11-$1.1B12-$73.7M13$965.0M14$661.6M10$407.2M10$104.2M10
Earnings per share$7.0111-$7.4812-$0.4813$6.2214$4.2610$2.7110$0.7310
Earnings per share (diluted)$6.9811-$7.4812-$0.4813$6.1314$4.2210$2.7010$0.7210
Shares (weighted, basic)154.3M shares13155.3M shares14155.2M shares10150.0M shares10143.1M shares10
Shares (weighted, diluted)154.3M shares13157.5M shares14156.6M shares10151.0M shares10144.0M shares10

Compare Murphy Oil with another company

Corporate structure

Murphy Oil sits at the top of its group. 6 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Murphy Oil

  • Murphy Oil Wilmington, Delaware, United States
    • 1. Murphy Sur, S. de R. L. de C.V. Subsidiary · Mexico
    • i. Murphy Sur, S. de R. L. de C.V. (see company F.b.i.4.a.ii.1. below) Subsidiary · Mexico
    • ii. Murphy Netherlands Holdings II B.V. Subsidiary · Netherlands
    • MURPHY EXPLORATION & PRODUCTION COMPANY - USA Subsidiary · Houston, Texas, United States
      • MP GULF OF MEXICO, LLC Subsidiary · Houston, Texas, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Murphy Oil reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$15.1B10 Dec 31, 2025$13.8B10 Dec 31, 2024+9.1%
Property and equipment, net$8.1B10 Dec 31, 2025$8.1B10 Dec 31, 2024+1.0%
Operating-lease assets (leased space)$805.5M10 Dec 31, 2025$777.5M10 Dec 31, 2024+3.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$377.2M10 Dec 31, 2025$423.6M10 Dec 31, 2024−10.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$57.3M10 Dec 31, 2025$54.9M10 Dec 31, 2024+4.4%
Supplies$39.7M10 Dec 31, 2025$36.1M10 Dec 31, 2024+10.0%

Properties, in its own words

Descriptions of the Company’s oil and natural gas properties are included in “Item 1” of this Form 10-K report beginning on page 1. Information required by the Securities Exchange Act Industry Guide No. 2 can be found in the “Supplemental Oil and Natural Gas Information” section of this Annual Report on Form 10-K on pages 111 to 126 and in Note D beginning on page 79.

Item 2 of the 10-K filed Feb 25, 2026.18

The story

The company was founded in 1944 as CH Murphy & Co by Charles H. Murphy Sr. and incorporated in Louisiana in 1950. Mason Houghland opened the first Spur gas station in Old Hickory, Tennessee in 1928. After Wilhelm von Opel invested in the company, it became a chain, with 275 locations and annual sales of $40 million. In 1957, an appeals court ruled that von Opel's son Fritz von Opel was not entitled to the share of Spur Oil Company his father had owned. Houghland bought the shares and Equitable Securities handled the public offering. Equitable arranged the merger of Spur Oil Company with Murphy shortly after Houghland's death in 1959. In 1960, Murphy set up Murco in the United Kingdom.

Murphy entered the Malaysia market in 1999 after a purchase of three offshore blocks, solidifying its position as a player in the offshore development space. The first discovery in this area, the West Patricia prospect, was announced in 2001 and followed by a significant discovery in the Kikeh in 2002 (went into production by 2007).

In 2003, the company acquired acreage offshore Republic of Congo. In 2004, the company sold oil fields in Western Canada for US$633 million.

In August 2005, in the Murphy Oil USA refinery spill, during Hurricane Katrina, an oil storage tank at the Murphy Oil refinery in Meraux, Louisiana, floated off its foundation and released more than one million gallons of crude oil into Meraux and Chalmette. A class-action lawsuit against Murphy Oil ended in a settlement in 2009; the company was required to pay $330 million to 6,200 claimants, including owners of about 1,800 affected residential properties in St. Bernard Parish, Louisiana.

In January 2007, Murphy announced it would set aside $50 million to help fund college for students in the El Dorado, Arkansas school district. The scholarship, which requires that students spend a certain number of years in the El Dorado school system and maintain a 2.0 grade point average while in college or trade school, pays tuition and all mandatory fees, up to the highest annual rate charged by an Arkansas public university. Scholarship amounts are allocated on a pro-rata basis, calculated by years of attendance in the El Dorado Public School District. For example, graduates who attend all 13 years at El Dorado Public Schools will receive 100% of the eligible scholarship. As of April 2026, the El Dorado promise has helped fund education for over 4,800 students, some 87% of those who attended schools in the El Dorado School District.

In 2007, following a benzene leak in Louisiana, Murphy Oil was fined $395,313 in civil penalties plus $1.5 million for cleanup costs by the US EPA. The case was settled in April 2019. In July 2011, the company sold its refinery in Superior, Wisconsin, to Calumet for $214 million. In September 2011, the company sold its refinery in Meraux, Louisiana, to Valero Energy for $325 million. In August 2013, the company distributed 100% of the shares in its retail marketing gasoline station chain, Murphy USA, to its shareholders via a corporate spin-off. In 2016, the company sold its 5% stake in Syncrude Canada Ltd., a joint venture located about 25 miles north of Fort McMurray, Alberta, for C$937 million. In 2017, the company acquired acreage offshore Brazil.

Throughout 2018, Murphy Oil along with 91 other Fortune 500 companies had "paid an effective federal tax rate of 0% or less" due in part to the Tax Cuts and Jobs Act of 2017 passed by Congress and signed into law by President Trump. Murphy Oil's Form 10-K for 2018 indicated the company had a net operating loss carryforward of about $2.36 billion, in addition to depreciation and other factors which reduced their taxes paid in 2018.

In July 2019, Murphy sold its assets in Malaysia to PTT Exploration and Production for $2.035 billion. In May 2020, the company relocated to Houston and closed several offices.

From Wikipedia’s article on Murphy Oil, shared under CC BY-SA 4.0.7

Leadership

Who has led Murphy Oil, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (52)

Products and brands

  • petroleum

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 1. Murphy Sur, S. de R. L. de C.V. Mexico8
  • i. Murphy Sur, S. de R. L. de C.V. (see company F.b.i.4.a.ii.1. below) Mexico8
  • ii. Murphy Netherlands Holdings II B.V. Netherlands8

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • MURPHY OIL CORP /DEFeb 14, 1994 to Jul 12, 20196

Timeline

  1. Oct 13, 20268-K Regulation FD disclosure80
  2. Sep 8, 20268-K Regulation FD disclosure81
  3. Aug 24, 20268-K Other events82
  4. Aug 5, 20268-K Results of operations83
  5. Jun 11, 20268-K Executive or director change84
  6. May 14, 20268-K Shareholder vote85
  7. May 6, 20268-K Results of operations86
  8. Jan 28, 20268-K Results of operations; Other events87
  9. Jan 23, 20268-K New debt or obligation; Other events88
  10. Jan 8, 20268-K Debt or obligation accelerated; Other events89
  11. Jan 6, 20268-K Entered a material agreement; Results of operations; New debt or obligation90
  12. Nov 5, 20258-K Results of operations91
  13. Feb 4, 2025New chief executive Eric M. Hambly becomes CEO19
  14. Jan 31, 2014New chief executive Roger W. Jenkins becomes CEO20
  15. Jun 21, 2012New chief executive Steven A. Cosse becomes CEO21
  16. Feb 5, 2009New chief executive David M. Wood becomes CEO22
  17. Feb 2, 2006New chief executive Claiborne P. Deming becomes CEO23
  18. 1964Founded Founded in Louisiana1

Calendar

Coming up

  1. Nov 4, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.41 a share, on Nov 5, 2025.92

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results83
  2. May 6, 2026Reported quarterly or annual results86
  3. Jan 28, 2026Reported quarterly or annual results87
  4. Jan 6, 2026Reported quarterly or annual results90
  5. Nov 5, 2025Reported quarterly or annual results91
  6. Aug 6, 2025Reported quarterly or annual results93
  7. May 7, 2025Reported quarterly or annual results94
  8. Jan 30, 2025Reported quarterly or annual results95

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

506 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 85 major events, 318 insider forms, 24 large holders, 59 other. The latest 20:

  1. Oct 13, 20268-K EDGAR
  2. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  3. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  4. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  5. Sep 17, 2026SD EDGAR
  6. Sep 8, 20268-K EDGAR
  7. Sep 1, 20264 PRIMARY DOCUMENT EDGAR
  8. Sep 1, 20263 PRIMARY DOCUMENT EDGAR
  9. Aug 24, 20268-K EDGAR
  10. Aug 14, 2026SCHEDULE 13G EDGAR
  11. Aug 5, 202610-Q EDGAR
  12. Aug 5, 20268-K EDGAR
  13. Jul 2, 20264 PRIMARY DOCUMENT EDGAR
  14. Jul 2, 20264 PRIMARY DOCUMENT EDGAR
  15. Jul 2, 20264 PRIMARY DOCUMENT EDGAR
  16. Jul 2, 20264 PRIMARY DOCUMENT EDGAR
  17. Jun 17, 2026S-8 EDGAR
  18. Jun 12, 202611-K EDGAR
  19. Jun 11, 20268-K EDGAR
  20. May 14, 20268-K EDGAR

The 506 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

49 open-market trades by officers, directors and large owners since October 2021: 4 buys and 45 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 11, 2026Hanchera Daniel RSenior Vice PresidentSale47,320$33.79$1.6MForm 4
Mar 3, 2026Martinez Maria ASenior Vice PresidentSale8,608$34.93$300.7KForm 4
Mar 5, 2025Nolan Jeffrey WDirectorBuy10,000$23.39$233.9KForm 4
Feb 21, 2025Utsch Louis WVice PresidentSale9,584$28.10$269.3KForm 4
Feb 5, 2025Palanivelu MeenambigaiVice PresidentBuy1,573$26.70$42.0KForm 4
Feb 5, 2025DEMING CLAIBORNE PDirectorBuy50,000$26.56$1.3MForm 4
Feb 4, 2025DEMING CLAIBORNE PDirectorBuy50,000$26.47$1.3MForm 4
Mar 14, 2024Martinez Maria ASenior Vice PresidentSale10,000$43.36$433.6KForm 4
Mar 7, 2024GARDNER JOHN BVice PresidentSale40,000$40.82$1.6MForm 4
Mar 6, 2024Vaughan Paul D.Vice President & ControllerSale6,000$39.61$237.7KForm 4
Mar 1, 2024Jenkins Roger W.Chief Executive OfficerSale110,000$40.39$4.4MForm 4
Mar 1, 2024MIRELES THOMAS JExecutive Vice President & CFOSale34,928$40.33$1.4MForm 4
Mar 1, 2024Hanchera Daniel RSenior Vice PresidentSale30,000$40.32$1.2MForm 4
Feb 27, 2024Utsch Louis WVice PresidentSale30,260$39.94$1.2MForm 4
Sep 20, 2023Keller Elisabeth WDirectorSale1,116$45.50$50.8KForm 4
Aug 8, 2023MURPHY ROBERT MADISONDirectorSale100,000$43.30$4.3MForm 4
Aug 8, 2023GARDNER JOHN BVice PresidentSale10,000$42.95$429.5KForm 4
May 18, 2023MIRELES THOMAS JExecutive Vice President & CFOSale14,500$35.14$509.5KForm 4
Feb 14, 2023Utsch Louis WVice PresidentSale10,902$43.50$474.2KForm 4
Feb 6, 2023Vaughan Paul D.Vice President & ControllerSale9,500$41.30$392.4KForm 4

All 49 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Eric M. HamblyPresident and Chief Executive Officer$950.0K$7.7M103
2025Thomas J. MirelesExecutive Vice President and Chief Financial Officer$627.5K$4.3M103
2025E. Ted BotnerExecutive Vice President, General Counsel and Corporate Secretary$524.3K$3.0M103
2025Daniel R. HancheraSenior Vice President$460.3K$1.9M103
2025Maria A. MartinezSenior Vice President$423.2K$1.5M103
2024Eric M. HamblyPresident and Chief Executive Officer$647.3K$4.8M103
2024Thomas J. MirelesExecutive Vice President and Chief Financial Officer$597.9K$4.5M103
2024E. Ted BotnerExecutive Vice President, General Counsel and Corporate Secretary$504.5K$3.3M103
2024Daniel R. HancheraSenior Vice President$446.5K$2.2M103
2023Eric M. HamblyPresident and Chief Executive Officer$616.5K$4.6M103
2023Thomas J. MirelesExecutive Vice President and Chief Financial Officer$568.8K$4.5M103
2023E. Ted BotnerExecutive Vice President, General Counsel and Corporate Secretary$489.0K$3.4M103
2023Daniel R. HancheraSenior Vice President$429.6K$2.2M103

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.19,241,833$626.5M0.0%+1,005,902
Dimensional Fund Advisors LP8,386,298$273.1M0.0%+214,913
Vanguard Portfolio Management LLC7,768,499$252.9M0.0%+192,500
American Century Companies Inc7,316,708$238.2M0.1%+590,080
State Street Corp7,305,789$237.9M0.0%−73,361
Vanguard Capital Management LLC6,114,588$199.1M0.0%+47,338
Charles Schwab Investment Management Inc5,112,517$166.5M0.0%+455,661
Geode Capital Management, LLC4,366,590$142.2M0.0%+684,054
Earnest Partners LLC2,876,215$93.6M0.3%−35,153
Fmr LLC2,765,612$90.0M0.0%−454,773
Hotchkis & Wiley Capital Management LLC2,738,389$89.2M0.3%+15,410
Invesco Ltd.2,707,294$88.1M0.0%+83,861
Arrowstreet Capital, Limited Partnership2,437,039$79.3M0.0%−873,845
Encompass Capital Advisors LLC2,250,000$73.3M3.2%New
Northern Trust Corp2,007,234$65.4M0.0%+115,924
Allianz Asset Management GmbH1,914,026$62.3M0.1%+420,236
Aqr Capital Management LLC1,759,416$57.3M0.0%−63,115
Huntington National Bank1,735,078$56.5M0.4%−11,419
Morgan Stanley1,559,871$50.8M0.0%−290,271
Bank of New York Mellon Corp1,525,832$49.7M0.0%−45,288
Bank Of America Corp /de/1,404,146$45.7M0.0%−431,910
Victory Capital Management Inc1,204,310$39.2M0.0%−789,675
Goldman Sachs Group Inc1,201,655$39.1M0.0%−273,193
Fisher Asset Management, LLC1,028,741$33.5M0.0%−31,573
Citadel Advisors LLC1,012,557$33.0M0.0%+207,413

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Murphy Oil is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMURPHY OIL CORP2
  • CIK0000717423
  • Employer ID (EIN)71-036152218
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company18
  • Incorporated inDelaware18
  • Fiscal year endsDecember 312
  • Industry code (SIC)1311 Crude Petroleum & Natural Gas2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address9805 Katy Fwy, Suite G-200, Houston, TX 770242
  • Phone28167590002
  • Shares outstanding143,381,125 as of Jul 31, 202616
  • Public float$2.4B as of Jun 30, 202518
  • AuditorKPMG LLP, Houston, Texas PCAOB ID 185; it also attests to the company’s internal control over financial reporting18
  • On EDGAR sinceFeb 4, 19942
  • Filings2,448 in all: 4 (1,361), 8-K (302), 5 (141), SC 13G/A (118), 10-Q (97), 11-K (50), 3 (45), DEF 14A (33)2
    All 42 form types

    SC 13G (33), 10-K (31), 4/A (29), UPLOAD (27), CORRESP (21), 144 (17), ARS (17), DEFA14A (17), 424B5 (15), S-8 (15), 8-K/A (9), FWP (8), S-3ASR (6), SCHEDULE 13G (6), 10-K/A (5), 305B2 (5), 5/A (5), 3/A (4), 424B2 (4), PRE 14A (4), S-3 (3), SCHEDULE 13G/A (3), SD (3), 10-K405 (2), 8-A12B/A (2), SEC STAFF LETTER (2), 10-Q/A (1), 144/A (1), 424B3 (1), CT ORDER (1), NO ACT (1), PX14A6G (1), RW (1), S-3/A (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Mar 27, 2026
    Latest 8-K (8-K) Oct 13, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $1.00 Par ValueMURNew York Stock Exchange

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).18

Risk factors and legal proceedings

The risks Murphy Oil names in Item 1A of its 10-K filed Feb 25, 2026: 27 risks under these headings, as written.18

  • Price Risk Factors
  • Volatility in the global prices of oil and natural gas can significantly affect the Company’s operating results, cash flows and financial condition.
  • Murphy’s commodity price risk management may limit the Company’s ability to fully benefit from potential future price increases for oil and natural gas.
  • Operational Risk Factors
  • Murphy operates in highly competitive environments which could adversely affect it in many ways, including its profitability, cash flows and its ability to grow.
  • Exploration drilling results can significantly affect the Company’s operating results.
  • If Murphy cannot replace its oil and natural gas reserves, it may not be able to sustain or grow its business.
  • Murphy’s proved reserves are based on the professional judgment of its engineers and may be subject to revision.
  • Murphy is reliant on certain third party infrastructure to develop projects and operations.
  • Murphy is sometimes reliant on joint venture partners for operating assets, and/or funding development projects and operations.
  • Murphy’s business is subject to operational hazards, severe weather events, physical security risks and risks normally associated with the E&P of oil and natural gas, which could become more significant as a result of climate change.
  • Hydraulic fracturing operations subject the Company to operational risks inherent in the drilling and production of oil and natural gas.
The other 17 risks
  • Murphy is subject to numerous environmental, health and safety laws and regulations, and such existing and any potential future laws and regulations may result in material liabilities and costs.
  • We face various risks associated with increased activism against, or change in public sentiment for, oil and natural gas exploration, development, and production activities and sustainability considerations, including climate change and the transition to a lower carbon economy.
  • Financial Risk Factors
  • Capital financing may not always be available to fund Murphy’s activities; and interest rates could impact cash flows.
  • We may be unable to meet our capital allocation plan of returning a percentage of adjusted free cash flow (FCF) to shareholders through share repurchases and potential dividend increases, which could decrease expected returns on an investment in our common stock.
  • Murphy’s operations could be adversely affected by changes in foreign exchange rates.
  • The costs and funding requirements related to the Company’s retirement plans are affected by several factors.
  • Murphy has limited control over supply chain costs.
  • The Company is exposed to credit risks associated with (i) sales of certain of its products to customers, (ii) joint venture partners and (iii) other counterparties.
  • General Risk Factors
  • We face various risks related to health epidemics, pandemics and similar outbreaks, which may have material adverse effects on our business, financial position, results of operations and/or cash flows.
  • Changes in U.S. and international tax rules and regulations, or interpretations thereof, may materially and adversely affect our cash flows, results of operations and financial condition.
  • We face continued competition for talent to support our operations.
  • Murphy’s sensitive information, operational technology systems and critical data may be exposed to cyber threats.
  • We are incorporating AI technologies into our processes, and these technologies may present business, compliance, and reputational risks.
  • Murphy’s operations and earnings have been and will continue to be affected by domestic and worldwide political developments.
  • Murphy’s insurance may not be adequate to offset costs associated with certain events, and there can be no assurance that insurance coverage will continue to be available in the future on terms that justify its purchase.
  • Murphy could face long-term challenges to the fossil fuels business model reducing demand and price for hydrocarbon fuels.
  • Lawsuits against Murphy and its subsidiaries could adversely affect its operating results.

Legal proceedings

Discussion of the Company’s legal proceedings are included in Note Q beginning on page 101.

The opening of Item 3, Legal Proceedings.18

Sources

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  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75
  76. 76
  77. 77
  78. 78
  79. 79
  80. 80
  81. 81
  82. 82
    SEC EDGAROther events
  83. 83
  84. 84
  85. 85
  86. 86
  87. 87
  88. 88
  89. 89
  90. 90
  91. 91
  92. 92
  93. 93
  94. 94
  95. 95
  96. 96
  97. 97
  98. 98
  99. 99
  100. 100
  101. 101
  102. 102
  103. 103