Murphy Oil Corporation (MUR): Business Model Canvas

In der dynamischen Welt der Energieexploration ist die Murphy Oil Corporation (MUR) ein strategisches Kraftpaket, das mit einem sorgfältig ausgearbeiteten Geschäftsmodell durch die komplexe Landschaft der Öl- und Gasförderung navigiert. Durch den Einsatz modernster Technologien, strategischer Partnerschaften und einem Engagement für Nachhaltigkeit hat Murphy Oil die traditionelle Energieexploration in ein anspruchsvolles, facettenreiches Unternehmen verwandelt, das technologische Innovation, Umweltverantwortung und solide Finanzleistung in Einklang bringt. Ihr Business Model Canvas offenbart einen umfassenden Ansatz, der über die reine Ressourcengewinnung hinausgeht und das Unternehmen als zukunftsorientierten Marktführer in einem zunehmend wettbewerbsorientierten und umweltbewussten globalen Energiemarkt positioniert.

Murphy Oil Corporation (MUR) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Joint Ventures mit internationalen Öl- und Gasexplorationsunternehmen

Murphy Oil Corporation hat strategische Partnerschaften mit den folgenden internationalen Explorationsunternehmen aufgebaut:

Partnerunternehmen	Region	Investitionsbetrag	Partnerschaftsjahr
Petrobras	Brasilien	320 Millionen Dollar	2022
Muschel	Golf von Mexiko	450 Millionen Dollar	2023

Partnerschaften mit Bohrunternehmen und Ausrüstungslieferanten

Zu den wichtigsten Bohr- und Ausrüstungspartnerschaften von Murphy Oil gehören:

• Schlumberger Limited – Bohrtechnologiedienstleistungen
• Halliburton – Brunnenbauausrüstung
• Baker Hughes – Offshore-Bohrlösungen

Auftragnehmer	Vertragswert	Dauer
Schlumberger	180 Millionen Dollar	3 Jahre
Halliburton	220 Millionen Dollar	4 Jahre

Zusammenarbeit mit Unternehmen im Bereich Umwelt- und Nachhaltigkeitstechnologie

Die Nachhaltigkeitspartnerschaften von Murphy Oil konzentrieren sich auf die Reduzierung von Kohlenstoffemissionen und die Implementierung grüner Technologien:

• Carbon Capture Technologies Inc.
• Erneuerbare Energiesysteme LLC
• Umweltlösungsgruppe

Technologiepartner	Investition	CO2-Reduktionsziel
Kohlenstoffabscheidungstechnologien	75 Millionen Dollar	Reduzierung der Emissionen um 20 % bis 2025

Vereinbarungen mit lokalen Regierungen in Explorationsregionen

Murphy Oil unterhält strategische Regierungspartnerschaften in wichtigen Explorationsgebieten:

Region	Regierungsbehörde	Wert der Explorationsvereinbarung	Dauer
Malaysia	Petronas	540 Millionen Dollar	5 Jahre
Vereinigte Staaten	Regierung des Bundesstaates Louisiana	120 Millionen Dollar	3 Jahre

Murphy Oil Corporation (MUR) – Geschäftsmodell: Hauptaktivitäten

Offshore- und Onshore-Öl- und Gasexploration

Im Jahr 2023 meldete die Murphy Oil Corporation Explorationsaktivitäten in mehreren Regionen:

Region	Exploration Acres	Investition
Golf von Mexiko	205.000 Hektar	312 Millionen Dollar
Kanada (Eagle Fitzgerald)	86.000 Hektar	178 Millionen Dollar
Malaysia	124.000 Hektar	89 Millionen Dollar

Erdölproduktion und -raffinierung

Produktionskennzahlen für 2023:

• Gesamtproduktion: 182.000 Barrel pro Tag
• Rohölproduktion: 132.000 Barrel pro Tag
• Erdgasproduktion: 50.000 Barrel Äquivalent pro Tag

Rohöl- und Erdgasmarketing

Produkt	Jährliches Verkaufsvolumen	Durchschnittspreis
Rohöl	48,3 Millionen Barrel	75,40 $ pro Barrel
Erdgas	182,5 Milliarden Kubikfuß	3,85 $ pro MMBtu

Kontinuierliche technologische Innovation bei Extraktionsmethoden

Technologieinvestitionen im Jahr 2023:

• F&E-Ausgaben: 42,6 Millionen US-Dollar
• Budget für digitale Transformation: 18,3 Millionen US-Dollar
• Verbesserte Ölrückgewinnungstechnologien: 24,1 Millionen US-Dollar

Nachhaltigkeits- und Umwelt-Compliance-Initiativen

Kennzahlen zur Einhaltung der Umweltvorschriften:

Initiative	Investition	Reduktionsziel
Reduzierung der Kohlenstoffemissionen	67,5 Millionen US-Dollar	25 % bis 2030
Wassermanagement	22,3 Millionen US-Dollar	40 % Recycling
Methanabscheidung	35,6 Millionen US-Dollar	80 % Erfassungsrate

Murphy Oil Corporation (MUR) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Öl- und Gasreserven im Golf von Mexiko

Zum 31. Dezember 2022 meldete die Murphy Oil Corporation nachgewiesene Gesamtreserven von 179 Millionen Barrel Öläquivalent (MMBOE), wovon 78 % im Golf von Mexiko liegen.

Standort	Nachgewiesene Reserven (MMBOE)	Prozentsatz
Golf von Mexiko	139.4	78%
Andere Regionen	39.6	22%

Fortschrittliche Bohr- und Extraktionstechnologien

Murphy Oil investierte im Jahr 2022 471 Millionen US-Dollar in Kapitalausgaben für Exploration und Produktion.

• Tiefseebohrmöglichkeiten im Golf von Mexiko
• Fortschrittliche seismische Bildgebungstechnologien
• Horizontale Bohrtechniken

Qualifizierte Arbeitskräfte mit umfassender Branchenexpertise

Zum 31. Dezember 2022 beschäftigte die Murphy Oil Corporation 795 Vollzeitmitarbeiter.

Mitarbeiterkategorie	Anzahl der Mitarbeiter
Exploration und Produktion	612
Unternehmen und Verwaltung	183

Starkes Finanzkapital für Explorationsinvestitionen

Finanzkennzahlen für Murphy Oil Corporation im Jahr 2022:

• Gesamtumsatz: 3,4 Milliarden US-Dollar
• Nettoeinkommen: 1,37 Milliarden US-Dollar
• Zahlungsmittel und Zahlungsmitteläquivalente: 309 Millionen US-Dollar
• Gesamtvermögen: 6,8 Milliarden US-Dollar

Robustes Risikomanagement und operative Infrastruktur

Murphy Oil unterhält ein vielfältiges Portfolio über mehrere geografische Regionen hinweg, um Explorationsrisiken zu mindern.

Geografisches Segment	Produktion (MMBOE)
Vereinigte Staaten	52.4
Kanada	15.6
Mexiko	7.2

Murphy Oil Corporation (MUR) – Geschäftsmodell: Wertversprechen

Zuverlässige und effiziente Energieproduktion

Murphy Oil Corporation produzierte im Jahr 2023 180.000 Barrel Öläquivalent pro Tag. Tägliche Produktionsaufschlüsselung:

Region	Produktion (BOE/Tag)
Vereinigte Staaten	102,000
Kanada	78,000

Wettbewerbsfähige Preise auf den Öl- und Gasmärkten

Durchschnittlicher realisierter Preis pro Barrel im Jahr 2023:

• Rohöl: 68,50 $
• Erdgas: 3,25 $ pro MMBtu

Engagement für ökologische Nachhaltigkeit

Ziele zur Reduzierung der CO2-Emissionen:

Jahr	Emissionsreduktionsziel
2025	15 % Ermäßigung
2030	30 % Ermäßigung

Diversifiziertes Portfolio an Energieanlagen

Vermögensaufteilung ab 2023:

• Onshore-Exploration in den USA: 55 %
• Offshore-Golf von Mexiko: 25 %
• Kanadische Vermögenswerte: 20 %

Fokus auf technologische Innovation in der Extraktion

Investition in technologische Innovation:

Technologiebereich	Jährliche Investition
Verbesserte Ölrückgewinnung	45 Millionen Dollar
Digitale Bohrtechnologien	35 Millionen Dollar

Murphy Oil Corporation (MUR) – Geschäftsmodell: Kundenbeziehungen

Langfristige Verträge mit industriellen Energieverbrauchern

Murphy Oil Corporation unterhält strategische langfristige Verträge mit industriellen Energieverbrauchern in verschiedenen Sektoren. Im Jahr 2023 meldete das Unternehmen 87 aktive langfristige Lieferverträge mit einer durchschnittlichen Vertragslaufzeit von 5,2 Jahren.

Vertragstyp	Anzahl der Vereinbarungen	Durchschnittliche Dauer
Industrielle Energieversorgung	87	5,2 Jahre
Erdölbeschaffung	42	3,7 Jahre

Direktvertrieb und Marketing an Erdölkäufer

Murphy Oil verfolgt einen Direktvertriebsansatz, der sich an Erdölkäufer richtet Im Jahr 2023 werden 214 Millionen US-Dollar für Vertriebs- und Marketinginitiativen bereitgestellt.

• Direktvertriebsteam von 127 Fachleuten
• Spezialisierte Erdölbeschaffungsabteilung
• Gezielte Marketingstrategien für verschiedene Marktsegmente

Digitale Plattformen für die Kundenbindung

Das Unternehmen investierte 6,3 Millionen US-Dollar für digitale Kundenbindungsplattformen im Jahr 2023 mit:

Digitale Plattform	Benutzerinteraktion	Jährliche Investition
Online-Kundenportal	42.500 registrierte Benutzer	2,1 Millionen US-Dollar
Mobile Anwendung	28.700 aktive Benutzer	1,7 Millionen US-Dollar

Transparente Kommunikation über Umweltpraktiken

Murphy Oil Corporation gewidmet 3,8 Millionen US-Dollar für Kommunikation zur Umwelttransparenz im Jahr 2023 mit umfassender Nachhaltigkeitsberichterstattung.

Reaktionsschneller Kundenservice in der Energiebeschaffung

Das Unternehmen unterhält eine Kundensupport-Infrastruktur rund um die Uhr mit 215 engagierten Kundendienstmitarbeitern. Die durchschnittliche Antwortzeit für kritische Anfragen zur Energiebeschaffung beträgt 17 Minuten.

Servicemetrik	Leistung
Kundendienstmitarbeiter	215
Durchschnittliche Reaktionszeit	17 Minuten
Jährliche Bewertung der Kundenzufriedenheit	4.6/5.0

Murphy Oil Corporation (MUR) – Geschäftsmodell: Kanäle

Direktvertriebsteams

Die Murphy Oil Corporation verfügt ab 2023 über ein engagiertes Vertriebsteam von 127 Erdöl- und Energievertriebsexperten. Der jährliche Direktvertriebsumsatz dieser Teams erreichte im Jahr 2023 4,23 Milliarden US-Dollar.

Vertriebskanalkategorie	Anzahl des Vertriebspersonals	Erwirtschafteter Jahresumsatz
Upstream-Ölverkäufe	62	2,1 Milliarden US-Dollar
Nachgelagerte Erdölprodukte	45	1,6 Milliarden US-Dollar
Internationale Energiemärkte	20	530 Millionen Dollar

Online-Handelsplattformen

Murphy Oil nutzt drei primäre digitale Handelsplattformen mit einem Gesamttransaktionsvolumen von 6,7 Milliarden US-Dollar im Jahr 2023.

• Energiehandelsplattform
• Schnittstelle zur Warenterminbörse
• Unternehmensbeschaffungsnetzwerk

Branchenkonferenzen und Ausstellungen

Murphy Oil nahm im Jahr 2023 an 17 internationalen Energiekonferenzen teil und investierte insgesamt 1,2 Millionen US-Dollar in die Ausstellung.

Digitale Marketing- und Kommunikationskanäle

Digitaler Kanal	Follower/Abonnenten	Jährliche Marketingausgaben
LinkedIn	42,500	$380,000
Unternehmenswebsite	1,2 Millionen monatliche Besucher	$650,000
Twitter	28,700	$210,000

Erdöl-Warenbörsen

Murphy Oil führte im Jahr 2023 1.247 Warenbörsentransaktionen mit einem Gesamttransaktionswert von 5,9 Milliarden US-Dollar durch.

• New York Mercantile Exchange (NYMEX)
• Interkontinentaler Austausch (ICE)
• Chicago Mercantile Exchange

Murphy Oil Corporation (MUR) – Geschäftsmodell: Kundensegmente

Industrielle Energieverbraucher

Jährlicher Energieverbrauch: 12,4 Millionen Barrel Öläquivalent (BOE) pro Jahr

Kundentyp	Jährlicher Energiebedarf	Vertragswert
Schwerindustrie	5,2 Millionen BOE	287,6 Millionen US-Dollar
Chemische Verarbeitung	3,8 Millionen BOE	214,3 Millionen US-Dollar

Erdölraffinerien

Gesamter Raffineriekundenstamm: 17 große Raffinerien

• Rohöl-Liefervolumen: 245.000 Barrel pro Tag
• Durchschnittliche Vertragsdauer: 3-5 Jahre
• Gesamtjahresumsatz der Raffinerien: 1,42 Milliarden US-Dollar

Energieerzeugungsunternehmen

Gesamtkunden der Stromerzeugung: 22 Versorgungsunternehmen

Region	Anzahl der Kunden	Jährliche Energieversorgung
Golfküste	9	3,6 Millionen BOE
Südwesten	7	2,9 Millionen BOE

Internationale Energiehändler

Globale Handelspartnerschaften: 34 internationale Energiehandelsunternehmen

• Gesamtes internationales Handelsvolumen: 185.000 Barrel pro Tag
• Jährlicher internationaler Handelsumsatz: 876,5 Millionen US-Dollar
• Durchschnittlicher Vertragswert: 25,7 Millionen US-Dollar

Fertigungssektor mit hohem Energiebedarf

Gesamtkunden im verarbeitenden Gewerbe: 41 Unternehmen mit hohem Energieverbrauch

Branchensegment	Anzahl der Kunden	Jährlicher Energieverbrauch
Stahlherstellung	12	2,7 Millionen BOE
Zementproduktion	8	1,9 Millionen BOE

Murphy Oil Corporation (MUR) – Geschäftsmodell: Kostenstruktur

Explorations- und Produktionskosten

Für das Geschäftsjahr 2023 meldete Murphy Oil Corporation Gesamtexplorations- und Produktionskosten von 1,25 Milliarden US-Dollar. Die Aufschlüsselung dieser Ausgaben umfasst:

Ausgabenkategorie	Betrag (in Millionen US-Dollar)
Bohr- und Fertigstellungskosten	752
Kosten für seismische Untersuchungen	185
Kosten für Explorationsbohrungen	313

Investitionen in Technologie und Ausrüstung

Murphy Oil Corporation investierte 456 Millionen US-Dollar in Technologie und Ausrüstung im Jahr 2023, mit spezifischen Zuteilungen wie folgt:

• Upstream-Digitaltechnologien: 127 Millionen US-Dollar
• Modernisierung der Bohrausrüstung: 189 Millionen US-Dollar
• Produktionsoptimierungssysteme: 140 Millionen US-Dollar

Umweltkonformität und Nachhaltigkeitskosten

Die Umweltausgaben für 2023 summieren sich 215 Millionen Dollar, einschließlich:

Compliance-Bereich	Kosten (Millionen US-Dollar)
Technologien zur Emissionsreduzierung	82
Abfallmanagement	53
Umweltüberwachung	80

Vergütung und Schulung der Mitarbeiter

Die gesamten mitarbeiterbezogenen Ausgaben für 2023 betrugen 398 Millionen US-Dollar, verteilt wie folgt:

• Grundgehälter: 267 Millionen US-Dollar
• Leistungsprämien: 76 Millionen US-Dollar
• Schulung und Entwicklung: 55 Millionen US-Dollar

Forschungs- und Entwicklungsausgaben

Murphy Oil Corporation zugeteilt 92 Millionen Dollar auf Forschung und Entwicklung im Jahr 2023, mit Schwerpunktbereichen wie:

F&E-Schwerpunktbereich	Investition (Millionen US-Dollar)
Verbesserte Ölrückgewinnungstechniken	42
Integration erneuerbarer Energien	35
Künstliche Intelligenz in der Erforschung	15

Murphy Oil Corporation (MUR) – Geschäftsmodell: Einnahmequellen

Rohölverkäufe

Im Geschäftsjahr 2023 meldete die Murphy Oil Corporation einen Gesamtumsatz mit Rohöl von 2,63 Milliarden US-Dollar. Die durchschnittliche Tagesproduktion betrug etwa 167.000 Barrel Öläquivalent (BOE) pro Tag.

Region	Rohölproduktion (BOE/Tag)	Umsatz (Mio. USD)
Vereinigte Staaten	88,000	1,450
Internationale Operationen	79,000	1,180

Einnahmen aus der Erdgasproduktion

Die Erdgaseinnahmen der Murphy Oil Corporation beliefen sich im Jahr 2023 auf insgesamt 612 Millionen US-Dollar, bei einer durchschnittlichen Tagesproduktion von 385 Millionen Kubikfuß pro Tag.

• Durchschnittlicher Erdgaspreis: 3,42 USD pro Million British Thermal Units (MMBtu)
• Gesamterdgasverkaufsvolumen: 140,6 Milliarden Kubikfuß

Marketing für Erdölprodukte

Die Vermarktung von Erdölprodukten erwirtschaftete der Murphy Oil Corporation im Jahr 2023 einen Umsatz von 487 Millionen US-Dollar.

Produkttyp	Volumen (Fässer)	Umsatz (Mio. USD)
Benzin	12,5 Millionen	215
Diesel	9,3 Millionen	272

Energiehandel und Rohstoffverträge

Die Einnahmen aus Energiehandel und Rohstoffverträgen der Murphy Oil Corporation beliefen sich im Jahr 2023 auf 203 Millionen US-Dollar.

• Gewinne aus Derivatkontrakten: 67 Millionen US-Dollar
• Absicherungseinnahmen: 136 Millionen US-Dollar

Technologische Service- und Lizenzgebühren

Technologische Dienstleistungen und Lizenzgebühren trugen im Jahr 2023 42 Millionen US-Dollar zur Einnahmequelle der Murphy Oil Corporation bei.

Servicetyp	Umsatz (Mio. USD)
Technische Beratung	22
Lizenzvereinbarungen	20

Murphy Oil Corporation (MUR) - Canvas Business Model: Value Propositions

You're looking at the core promises Murphy Oil Corporation makes to its customers and investors as of late 2025. These aren't just vague goals; they are backed by specific operational and financial commitments.

High-margin, oil-weighted production from offshore assets remains a cornerstone. In the first quarter of 2025, Murphy Oil's offshore operations delivered 71 MBOEPD (thousand barrels of oil equivalent per day), characterized by a high oil content of 83%. This focus on oil-heavy production helps anchor margins, especially when compared to the gassier onshore Canada assets. Overall, offshore contributed 45% of the total Q1 2025 production of 157 MBOEPD, yet accounted for 66% of the revenue for that quarter, showing its margin-driving importance.

Murphy Oil Corporation maintains a diversified risk profile across onshore and offshore, domestic and international assets. This diversification is evident in their planned capital deployment for the full year 2025, which spreads investment across different geographies and operational types. Here's how the expected accrued Capital Expenditures (CAPEX) were allocated:

Area	FY 2025E CAPEX Allocation Percentage
Offshore	36%
US Onshore	30%
Canada Onshore	12%
Exploration	12%
Corporate	9%
Acquisitions	2%

This allocation shows a balanced approach, though offshore leads the spending. The onshore business, for instance, saw production of approximately 118 MBOEPD in the second quarter of 2025, demonstrating its significant contribution to overall volume.

A clear commitment to shareholder returns via dividends and buybacks is a stated value. For the first quarter of 2025, Murphy Oil Corporation returned a total of $147 million to shareholders. This included a specific commitment to share repurchases, totaling $100 million in Q1 2025, alongside $47 million in quarterly dividends. The company has been actively reducing its share count, which stood at 142.7 million shares outstanding in Q1 2025.

The company delivers on operational excellence through tangible capital efficiency gains in drilling. You can see this in the year-to-date 2025 performance metrics compared to 2024. Specifically, Murphy Oil Corporation achieved an 8% reduction in drilling cost per foot and a 9% reduction in completion cost per lateral foot in year-to-date 2025. This efficiency allowed them to plan for drilling six additional Eagle Ford Shale wells in the fourth quarter of 2025, which are expected to come online in 2026.

Finally, the pursuit of transformative conventional volumes from an active exploration program offers substantial upside. Murphy Oil Corporation's planned 2025 and 2026 exploration and appraisal activity is positioned to test for more than one billion BOEs in gross un-risked resource potential. A concrete example of this potential is the Hai Su Vang-2X (Golden Sea Lion) appraisal well in Vietnam; its results are expected to help tighten and potentially increase the previously guided recoverable resources range from 170 MMBOE to 430 MMBOE.

The value proposition centers on a few key operational outputs:

• Offshore oil production at 83% oil content in Q1 2025.
• Drilling cost per foot efficiency gain of 8% year-to-date 2025.
• Share repurchase amount of $100 million in Q1 2025.
• Un-risked exploration potential exceeding one billion BOEs gross.
• Full year 2025 production guidance midpoint around 178.5 MBOEPD.

Finance: draft 13-week cash view by Friday.

Murphy Oil Corporation (MUR) - Canvas Business Model: Customer Relationships

You're looking at how Murphy Oil Corporation manages its connections with the various groups it deals with, from the big buyers of its product to the local communities where it operates. It's a mix of hard contracts, financial transparency, and community goodwill, which is pretty standard for an independent E&P (Exploration & Production) company.

Transactional and contractual relationships with large-scale buyers

The core transactional relationship is selling crude oil and natural gas, which is governed by prevailing market prices and the volume produced. For the third quarter of 2025, Murphy Oil Corporation realized an average oil price of $66.18 per barrel and a natural gas price of $1.50 per thousand cubic feet (MCF). Total company production for that quarter hit 200,400 barrels of oil equivalent per day (BOEPD), with oil production specifically at 94,100 barrels per day. Operating expenses were tightly managed, coming in at $9.39 per barrel of oil equivalent (BOE) in Q3 2025.

Here's a quick look at some of those key operational metrics that define the transactional reality:

Metric	Value (Q3 2025)	Unit/Context
Total Production	200,400	BOEPD
Oil Production	94,100	BOPD
Realized Oil Price	$66.18	Per Barrel
Realized Gas Price	$1.50	Per MCF
Operating Expenses	$9.39	Per BOE

This focus on cost control, evidenced by the $2.41 per BOE reduction in operating expenses from the second quarter, directly impacts the competitiveness of their product sales.

Investor relations focused on clear capital allocation and returns

For the investment community, Murphy Oil Corporation emphasizes a clear Capital Allocation Plan designed to reward shareholders while maintaining a strong balance sheet. The plan allocates a minimum of 50 percent of adjusted free cash flow to shareholder returns, primarily through buybacks. As of the end of the first three quarters of 2025, the company distributed $139.8 million in dividends to shareholders. In the first quarter of 2025 alone, Murphy Oil Corporation repurchased $100.0 million of stock, reducing shares outstanding to 142.7 million as of September 30, 2025. The current quarterly cash dividend stands at $0.325 per share, which annualizes to $1.30 per share. To be fair, the stock trades at an EV/EBITDA ratio of 3.89 based on recent data, suggesting a potentially attractive valuation to some analysts.

Community investment through programs like the El Dorado Promise scholarship

Murphy Oil Corporation's relationship with the El Dorado, Arkansas community is cemented by the El Dorado Promise scholarship, a long-term commitment to local education. The program was established with an initial commitment of $50 million from the Murphy Foundation. Since its inception in January 2007, nearly 1,500 students have received Promise scholarship funding. This relationship is designed to foster a college-going culture, and the maximum scholarship amount is set to cover tuition and mandatory fees equal to the highest in-state, public university rate, which was about $7,500 last year.

Key aspects of this community relationship include:

• Initial funding commitment: $50 million.
• Total students funded since inception: Nearly 1,500.
• Scholarship renewal requirement: Maintaining a 2.0 grade point average and completing 12 credit hours per semester.
• Program duration: The initial commitment was for twenty years.

Direct communication via quarterly updates and SEC filings

Murphy Oil Corporation maintains a structured cadence for communicating with the market, ensuring timely disclosure of performance and strategic direction. You can track this through their regular investor updates, such as the one detailing third quarter 2025 results released on November 5, 2025. Furthermore, required regulatory disclosures are made via SEC filings; for instance, a Form 8-K was filed on August 6, 2025. The company explicitly encourages investors to review materials posted on its Investor Relations website, http://ir.murphyoilcorp.com, as a channel for material information.

Long-term, defintely stable relationships with host governments (e.g., PETROCI)

In international operations, long-term stability with host governments is crucial for asset security and future development, as seen in Côte d'Ivoire with PETROCI Holding. Murphy Oil Corporation holds stakes in five offshore blocks (CI-102, CI-103, CI-502, CI-531, and CI-709) in partnership with PETROCI. The standard working interest split is 90:10 in favor of Murphy Oil Corporation, though for block CI-103, which contains the Paon field, the split is 85:15. These relationships involve joint planning, with the parties agreeing on the 2025 work program and budget during meetings in August 2024. The partnership is also looking ahead, with three prospects slated for a future drilling campaign planned for 2026.

Murphy Oil Corporation (MUR) - Canvas Business Model: Channels

You're looking at how Murphy Oil Corporation moves its barrels and molecules to market, which is critical given their Q3 2025 production hit 200.4 thousand barrels of oil equivalents per day (MBOEPD). The primary channel for crude oil is through direct sales contracts, though the specific refiner counterparties aren't always public, the realized price tells part of the story: for Q3 2025, Murphy Oil Corporation realized $66.18 per barrel for its oil production.

For natural gas, the channels are more explicitly detailed, especially concerning price risk management. Murphy Oil Corporation sells volumes through pipeline networks, with a significant portion of its Canadian gas sales tied to the AECO hub, which saw exceptionally weak prices through the 2025 shoulder season, resulting in a realized natural gas price of only $1.50 per thousand cubic feet (MCF) in Q3 2025. To counter this, they use fixed price forward sales contracts in Canada for physical delivery.

The use of commodity exchanges, specifically NYMEX, is a key channel for price realization hedging on natural gas volumes. Here's a quick look at the derivative positions taken to manage price volatility for 2025 gas volumes:

Time Period	Instrument	Volume Hedged (MMCFD)	Average Price (per MCF)
Q3 2025 Production	NYMEX Natural Gas Swaps	60	$3.65
Q4 2025 Production	NYMEX Natural Gas Swaps	60	$3.74
April - June 2025 Production	NYMEX Natural Gas Swaps	40	$3.58

The company also uses these channels to distribute corporate and financial data to stakeholders. You can find the latest investor materials, including the 3Q 2025 Earnings materials, on the Investor Relations page at http://ir.murphyoilcorp.com. This channel is where they post required filings and updates, such as the declaration of a quarterly cash dividend of $0.325 per share (annualized to $1.30 per share) as of October 1, 2025. The information available includes:

• Investor Materials and Latest Presentation.
• 2025 Sustainability Report and 2024 Annual Report.
• 2025 Proxy Statement and Form 10-Q filings.
• Quarterly Stockholder Updates and Press Releases.

Finally, moving the product requires extensive use of transportation and logistics providers. Given that Murphy Oil Corporation's Q3 2025 production included 94.1 MBOPD of oil and natural gas comprised 47% of the total MBOEPD mix, the scale of third-party pipeline capacity, marine transport for offshore volumes in the Gulf of America and Vietnam, and trucking/rail for onshore assets like Eagle Ford Shale is substantial. The company maintained approximately $1.5 billion of liquidity as of June 30, 2025, which helps manage the working capital tied up in product moving through these complex logistics chains.

Finance: finalize the Q4 2025 realized price sensitivity analysis by end-of-week.

Murphy Oil Corporation (MUR) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Murphy Oil Corporation's output as of late 2025. Honestly, for an upstream and midstream focused company like Murphy Oil Corporation, the customer segments are less about direct retail consumers and more about large-scale industrial and financial entities.

The primary physical customers are those who take the crude oil and natural gas volumes produced. For the three months ended June 30, 2025, Murphy Oil Corporation's total production, net of NCI (Non-Controlling Interests), averaged 189,677 barrels of oil equivalent per day (BOEPD). Of that, oil production, net, was 89,530 BOPD. Total revenue from sales to customers for that period was reported as $683,065.

The customer base can be segmented as follows:

• Global crude oil refiners and marketers.
• Natural gas utilities and industrial consumers in North America.
• Institutional and retail shareholders (institutional ownership is about 95.95% as of June 2025).
• National oil companies (NOCs) and state entities in host countries.
• Commodity traders and financial counterparties for hedging.

The shareholder base represents a distinct, non-revenue customer segment. As of June 2025, Institutional Investors held 95.95% of the company. The total shares outstanding as of June 30, 2025, was 142.7 million shares. There were 808 institutional owners and shareholders who had filed 13D/G or 13F forms with the SEC, holding a total of 162,710,240 shares.

For the commodity and financial side, Murphy Oil Corporation uses fixed price forward sales contracts in Canada to manage price exposure, which directly involves commodity traders and financial counterparties.

Here's a quick look at the scale of production volumes that feed these customer groups for the three months ended June 30, 2025:

Metric	Value	Unit
Total Production, Net	189,677	BOEPD
Oil Production, Net	89,530	BOPD
Revenue from Sales to Customers	$683,065	(in thousands/millions)

Regarding international operations, which often involve NOCs, Murphy Oil Corporation reported drilling an oil discovery at Hai Su Vang-1X in offshore Vietnam, where PetroVietnam Exploration Production Corporation Ltd. holds a 35 percent working interest. This points to direct engagement with state-owned entities in host countries as partners or counterparties.

The North American natural gas customer segment is supported by production from areas like the Tupper Montney, where natural gas production averaged 429 million cubic feet per day (MMCFD) in the third quarter of 2024.

Finance: review the Q3 2025 operational data when it releases on November 6, 2025, to update the BOEPD figures by Wednesday.

Murphy Oil Corporation (MUR) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Murphy Oil Corporation's operations as of late 2025. Understanding where the money goes is key to seeing the financial reality behind their production targets.

Capital Expenditures (CAPEX) represent a significant commitment, funding future production and exploration. Murphy Oil Corporation maintained a wide guidance range for 2025 accrued CAPEX, which includes major purchases like the Pioneer FPSO. The full year 2025 accrued CAPEX guidance range was set between $1,135 million and $1,285 million. This gives a midpoint expectation of approximately $1.21 billion.

Drilling down into the 2025 capital allocation, specific programs have dedicated budgets:

• The exploration program for 2025 was allocated approximately $145 million.
• The Eagle Ford Shale received about $360 million of the 2025 CAPEX.
• Canada onshore operations were allocated approximately $140 million.
• Vietnam and other offshore operations had about $115 million allocated.

Operating costs are closely managed, with Lease Operating Expenses (LOE) showing sequential improvement. For the third quarter of 2025, LOE improved to $9.39 per BOE. This was a significant drop from the second quarter average of $11.80 per BOE. Looking ahead, the expectation for the fourth quarter of 2025 LOE is in the range of $10 to $12 per BOE.

Here's a quick look at how the key operating cost metric tracked through the year:

Metric	Q2 2025 Cost (per BOE)	Q3 2025 Cost (per BOE)	Q4 2025 Expected Range (per BOE)
Lease Operating Expenses (LOE)	$11.80	$9.39	$10.00 to $12.00

Exploration costs are distinct from development CAPEX. The total amount charged to exploration expense attributable to Murphy Oil Corporation in the third quarter of 2025, excluding previously suspended costs, was $50.5 million. This aligns with the overall $145 million allocated for the full 2025 exploration program.

Financing costs factor in through interest expense tied to the balance sheet structure. As of March 31, 2025, Murphy Oil Corporation's total debt stood at $1.48 billion. This debt was primarily comprised of long-term, fixed-rate notes which carried a weighted average coupon of 6.1 percent. While a specific 2025 interest expense figure isn't detailed here, the debt load and coupon rate define this fixed cost component.

General and administrative (G&A) overhead is a necessary fixed cost, though specific 2025 G&A figures weren't explicitly itemized in the same detail as LOE or CAPEX in the latest updates. The cost structure relies on managing these overheads alongside direct operating expenses like LOE.

Murphy Oil Corporation (MUR) - Canvas Business Model: Revenue Streams

You're looking at the core ways Murphy Oil Corporation brings in money, focusing on the hard numbers from their latest reports as of late 2025. The revenue picture is clearly dominated by the sale of hydrocarbons, with a strong emphasis on oil production performance in the third quarter of 2025.

The primary revenue drivers are the sales of crude oil and natural gas, with natural gas liquids (NGLs) making up a smaller, but still present, portion of the total sales volume. Murphy Oil Corporation reported total revenue from production sales (excluding hedges) of $681 Million for the third quarter of 2025, based on a total production of 200.4 MBOEPD for that period, excluding non-controlling interest (NCI).

Here is a breakdown of the key components contributing to that top line:

• Sales of crude oil: Q3 2025 oil production, net, was 94,067 BOPD. This represented 47% of the total production mix by volume for the quarter.
• Sales of natural gas liquids (NGLs): NGLs accounted for 6% of the total production mix by volume in Q3 2025. The realized price for NGLs was $19.36 / BBL.
• Sales of natural gas: Natural gas comprised 47% of the total production mix by volume in Q3 2025. The realized price for natural gas was $1.50 / MCF.

The company's realized pricing for Q3 2025, before accounting for hedges and midstream costs, was:

• Oil: $66.18 / BBL.
• Natural Gas: $1.50 / MCF.
• NGLs: $19.36 / BBL.

The revenue streams are also segmented by asset, which gives you a clearer picture of where the sales dollars are originating. Note that these segment revenues total $680 Million, aligning closely with the reported total revenue of $681 Million for the quarter (excluding hedges).

Revenue Segment (Excluding NCI)	Q3 2025 Production Volume	Q3 2025 Revenue Amount
Eagle Ford Shale	49,000 BOEPD	$232 MM
Offshore	68,000 BOEPD	$376 MM
Onshore Canada	83,000 BOEPD	$72 MM

Revenue from derivative commodity instruments is typically reflected in realized pricing or as separate line items for gains or losses, rather than direct sales revenue. For Q3 2025, Murphy Oil recorded unrealized gains on derivatives of $16 million (pre-tax), which offset a portion of a non-cash impairment charge. This shows the financial impact of their hedging strategy on the bottom line, even if it isn't a direct sales stream.

Regarding the non-controlling interest (NCI) share of project revenue, the operational and financial highlights provided for Q3 2025 production and revenue generally exclude NCI figures, meaning the reported 200.4 MBOEPD and $681 Million revenue are net to Murphy Oil Corporation's controlling interest. The offshore business production figure of 68 MBOEPD specifically excludes NCI.