Murphy Oil Corporation (MUR): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da exploração de energia, a Murphy Oil Corporation (MUR) se destaca como uma potência estratégica, navegando na complexa paisagem da produção de petróleo e gás com um modelo de negócios meticulosamente criado. Ao alavancar tecnologias de ponta, parcerias estratégicas e um compromisso com a sustentabilidade, o petróleo Murphy transformou a exploração tradicional de energia em uma empresa sofisticada e multifacetada que equilibra a inovação tecnológica, a responsabilidade ambiental e o desempenho financeiro robusto. Seu modelo de negócios Canvas revela uma abordagem abrangente que vai além da mera extração de recursos, posicionando a empresa como líder de visão de futuro em um mercado global de energia global cada vez mais competitivo e ambientalmente consciente.

Murphy Oil Corporation (MUR) - Modelo de negócios: Parcerias -chave

Ventuos de conjuntos estratégicos com empresas internacionais de exploração de petróleo e gás

A Murphy Oil Corporation estabeleceu parcerias estratégicas com as seguintes empresas de exploração internacional:

Empresa parceira	Região	Valor do investimento	Ano de parceria
Petrobras	Brasil	US $ 320 milhões	2022
Concha	Golfo do México	US $ 450 milhões	2023

Parcerias com empreiteiros de perfuração e fornecedores de equipamentos

As principais parcerias de perfuração e equipamentos de Murphy Oil incluem:

• Schlumberger Limited - Serviços de tecnologia de perfuração
• Halliburton - Equipamento de construção bem
• Baker Hughes - soluções de perfuração offshore

Contratante	Valor do contrato	Duração
Schlumberger	US $ 180 milhões	3 anos
Halliburton	US $ 220 milhões	4 anos

Colaboração com empresas de tecnologia ambiental e de sustentabilidade

As parcerias de sustentabilidade da Murphy Oil se concentram na redução de emissões de carbono e implementando tecnologias verdes:

• Tecnologias de Captura de Carbono Inc.
• Systems de energia renovável LLC
• Grupo de Soluções Ambientais

Parceiro de tecnologia	Investimento	Objetivo de redução de carbono
Tecnologias de captura de carbono	US $ 75 milhões	20% de redução de emissões até 2025

Acordos com governos locais em regiões de exploração

Murphy Oil mantém parcerias governamentais estratégicas em territórios de exploração -chave:

Região	Entidade governamental	Valor do contrato de exploração	Duração
Malásia	Petronas	US $ 540 milhões	5 anos
Estados Unidos	Governo do Estado da Louisiana	US $ 120 milhões	3 anos

Murphy Oil Corporation (MUR) - Modelo de negócios: Atividades -chave

Exploração de petróleo e gás offshore e onshore

Em 2023, a Murphy Oil Corporation relatou atividades de exploração em várias regiões:

Região	ACRES DE EXPLORAÇÃO	Investimento
Golfo do México	205.000 acres	US $ 312 milhões
Canadá (Eagle Fitzgerald)	86.000 acres	US $ 178 milhões
Malásia	124.000 acres	US $ 89 milhões

Produção de petróleo e refino

Métricas de produção para 2023:

• Produção total: 182.000 barris por dia
• Produção de petróleo bruto: 132.000 barris por dia
• Produção de gás natural: 50.000 barris equivalentes por dia

Marketing de petróleo e gás natural

Produto	Volume anual de vendas	Preço médio
Petróleo bruto	48,3 milhões de barris	US $ 75,40 por barril
Gás natural	182,5 bilhões de pés cúbicos	US $ 3,85 por MMBTU

Inovação tecnológica contínua em métodos de extração

Investimento de tecnologia em 2023:

• Despesas de P&D: US $ 42,6 milhões
• Orçamento de transformação digital: US $ 18,3 milhões
• Tecnologias aprimoradas de recuperação de petróleo: US $ 24,1 milhões

Iniciativas de sustentabilidade e conformidade ambiental

Métricas de conformidade ambiental:

Iniciativa	Investimento	Alvo de redução
Redução de emissão de carbono	US $ 67,5 milhões	25% até 2030
Gerenciamento da água	US $ 22,3 milhões	40% de reciclagem
Captura de metano	US $ 35,6 milhões	Taxa de captura de 80%

Murphy Oil Corporation (MUR) - Modelo de negócios: Recursos -chave

Extensas reservas de petróleo e gás no Golfo do México

Em 31 de dezembro de 2022, a Murphy Oil Corporation relatou reservas totais comprovadas de 179 milhões de barris de petróleo equivalente (MMBOE), com 78% localizados no Golfo do México.

Localização	Reservas comprovadas (MMBoe)	Percentagem
Golfo do México	139.4	78%
Outras regiões	39.6	22%

Tecnologias avançadas de perfuração e extração

A Murphy Oil investiu US $ 471 milhões em despesas de capital para exploração e produção em 2022.

• Capacidades de perfuração de águas profundas no Golfo do México
• Tecnologias avançadas de imagem sísmica
• Técnicas de perfuração horizontal

Força de trabalho qualificada com profunda experiência no setor

Em 31 de dezembro de 2022, a Murphy Oil Corporation empregava 795 funcionários em período integral.

Categoria de funcionários	Número de funcionários
Exploração e produção	612
Corporativo e administrativo	183

Capital financeiro forte para investimentos em exploração

Métricas financeiras da Murphy Oil Corporation em 2022:

• Receita total: US $ 3,4 bilhões
• Lucro líquido: US $ 1,37 bilhão
• Caixa e equivalentes em dinheiro: US $ 309 milhões
• Total de ativos: US $ 6,8 bilhões

Gerenciamento de risco robusto e infraestrutura operacional

Murphy Oil mantém um portfólio diversificado em várias regiões geográficas para mitigar os riscos de exploração.

Segmento geográfico	Produção (MMBOE)
Estados Unidos	52.4
Canadá	15.6
México	7.2

Murphy Oil Corporation (MUR) - Modelo de negócios: proposições de valor

Produção de energia confiável e eficiente

A Murphy Oil Corporation produziu 180.000 barris de petróleo equivalente por dia em 2023. Diário de produção da produção:

Região	Produção (Boe/Day)
Estados Unidos	102,000
Canadá	78,000

Preços competitivos em mercados de petróleo e gás

Preço realizado médio por barril em 2023:

• Petróleo bruto: US $ 68,50
• Gás natural: US $ 3,25 por MMBTU

Compromisso com a sustentabilidade ambiental

Alvos de redução de emissão de carbono:

Ano	Objetivo de redução de emissão
2025	15% de redução
2030	Redução de 30%

Portfólio diversificado de ativos de energia

Alocação de ativos a partir de 2023:

• Exploração Onshore dos EUA: 55%
• Golfo offshore do México: 25%
• Ativos canadenses: 20%

Concentre -se na inovação tecnológica na extração

Investimento em inovação tecnológica:

Área de tecnologia	Investimento anual
Recuperação aprimorada de óleo	US $ 45 milhões
Tecnologias de perfuração digital	US $ 35 milhões

Murphy Oil Corporation (MUR) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de longo prazo com consumidores de energia industrial

A Murphy Oil Corporation mantém contratos estratégicos de longo prazo com consumidores de energia industrial em vários setores. A partir de 2023, a empresa registrou 87 acordos ativos de fornecimento de longo prazo com uma duração média do contrato de 5,2 anos.

Tipo de contrato	Número de acordos	Duração média
Fornecimento de energia industrial	87	5,2 anos
Compras de petróleo	42	3,7 anos

Vendas diretas e marketing para compradores de petróleo

Murphy Oil emprega uma abordagem de vendas direta direcionada aos compradores de petróleo com US $ 214 milhões alocados para iniciativas de vendas e marketing em 2023.

• Equipe de vendas diretas de 127 profissionais
• Divisão de Compras de Petróleo Especializada
• Estratégias de marketing direcionadas para diferentes segmentos de mercado

Plataformas digitais para envolvimento do cliente

A empresa investiu US $ 6,3 milhões em plataformas de engajamento digital de clientes Durante 2023, apresentando:

Plataforma digital	Engajamento do usuário	Investimento anual
Portal de clientes on -line	42.500 usuários registrados	US $ 2,1 milhões
Aplicativo móvel	28.700 usuários ativos	US $ 1,7 milhão

Comunicação transparente sobre práticas ambientais

Murphy Oil Corporation dedicado US $ 3,8 milhões para comunicações de transparência ambiental em 2023, com relatórios abrangentes de sustentabilidade.

Atendimento ao cliente responsivo em compras de energia

A empresa mantém um Infraestrutura de suporte ao cliente 24/7 com 215 representantes de atendimento ao cliente dedicados. O tempo médio de resposta é de 17 minutos para consultas críticas de aquisição de energia.

Métrica de serviço	Desempenho
Representantes de atendimento ao cliente	215
Tempo médio de resposta	17 minutos
Classificação anual de satisfação do cliente	4.6/5.0

Murphy Oil Corporation (MUR) - Modelo de Negócios: Canais

Equipes de vendas diretas

A Murphy Oil Corporation mantém uma força de vendas dedicada de 127 profissionais de vendas de petróleo e energia a partir de 2023. A receita anual de vendas direta por meio dessas equipes atingiu US $ 4,23 bilhões em 2023.

Categoria de canal de vendas	Número de pessoal de vendas	Receita anual gerada
Vendas de petróleo a montante	62	US $ 2,1 bilhões
Produtos petrolíferos a jusante	45	US $ 1,6 bilhão
Mercados internacionais de energia	20	US $ 530 milhões

Plataformas de negociação on -line

A Murphy Oil utiliza 3 plataformas de negociação digital primárias com um volume total de transações de US $ 6,7 bilhões em 2023.

• Plataforma de negociação de energia
• Interface de troca de futuros de commodities
• Rede de compras corporativas

Conferências e exposições do setor

O Murphy Oil participou de 17 conferências internacionais de energia em 2023, com investimentos totais de exibição de US $ 1,2 milhão.

Canais de marketing e comunicação digital

Canal digital	Seguidores/assinantes	Gastos anuais de marketing
LinkedIn	42,500	$380,000
Site corporativo	1,2 milhão de visitantes mensais	$650,000
Twitter	28,700	$210,000

Trocas de mercadorias de petróleo

O Murphy Oil executou 1.247 transações de troca de commodities em 2023, com um valor total de transação de US $ 5,9 bilhões.

• New York Mercantile Exchange (NYMEX)
• Intercontinental Exchange (gelo)
• Chicago Mercantile Exchange

Murphy Oil Corporation (MUR) - Modelo de negócios: segmentos de clientes

Consumidores de energia industrial

Consumo anual de energia: 12,4 milhões de barris de petróleo equivalente (BOE) por ano

Tipo de cliente	Demanda anual de energia	Valor do contrato
Fabricação pesada	5,2 milhões de Boe	US $ 287,6 milhões
Processamento químico	3,8 milhões de Boe	US $ 214,3 milhões

Refinarias de petróleo

Base total de clientes da refinaria: 17 principais refinarias

• Volume de suprimento de petróleo bruto: 245.000 barris por dia
• Duração média do contrato: 3-5 anos
• Receita anual total de refinarias: US $ 1,42 bilhão

Empresas de geração de energia

Total de clientes de geração de energia: 22 empresas de serviços públicos

Região	Número de clientes	Fornecimento anual de energia
Costa do Golfo	9	3,6 milhões de boe
Sudoeste	7	2,9 milhões de Boe

Comerciantes internacionais de energia

Parcerias comerciais globais: 34 empresas internacionais de comércio de energia

• Volume total de negociação internacional: 185.000 barris por dia
• Receita anual de negociação internacional: US $ 876,5 milhões
• Valor médio do contrato: US $ 25,7 milhões

Setor de manufatura com requisitos de alta energia

Total de clientes de manufatura: 41 empresas de consumo de alta energia

Segmento da indústria	Número de clientes	Consumo anual de energia
Fabricação de aço	12	2,7 milhões de Boe
Produção de cimento	8	1,9 milhão de boe

Murphy Oil Corporation (MUR) - Modelo de negócios: estrutura de custos

Despesas de exploração e produção

Para o ano fiscal de 2023, a Murphy Oil Corporation registrou despesas totais de exploração e produção de US $ 1,25 bilhão. A quebra dessas despesas inclui:

Categoria de despesa	Valor (US $ milhões)
Custos de perfuração e conclusão	752
Despesas de pesquisa sísmica	185
Custos de exploração do poço	313

Investimentos de tecnologia e equipamentos

Murphy Oil Corporation investiu US $ 456 milhões em tecnologia e equipamento durante 2023, com alocações específicas da seguinte forma:

• Tecnologias digitais upstream: US $ 127 milhões
• Atualizações de equipamentos de perfuração: US $ 189 milhões
• Sistemas de otimização de produção: US $ 140 milhões

Custos de conformidade ambiental e sustentabilidade

Despesas ambientais para 2023 totalizaram US $ 215 milhões, incluindo:

Área de conformidade	Custo (US $ milhões)
Tecnologias de redução de emissões	82
Gerenciamento de resíduos	53
Monitoramento ambiental	80

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários para 2023 foram US $ 398 milhões, distribuído da seguinte maneira:

• Salários base: US $ 267 milhões
• Bônus de desempenho: US $ 76 milhões
• Treinamento e desenvolvimento: US $ 55 milhões

Despesas de pesquisa e desenvolvimento

Murphy Oil Corporation alocada US $ 92 milhões Para pesquisar e desenvolver em 2023, com as principais áreas de foco, incluindo:

Área de foco em P&D	Investimento (US $ milhões)
Técnicas aprimoradas de recuperação de petróleo	42
Integração de energia renovável	35
Inteligência artificial na exploração	15

Murphy Oil Corporation (MUR) - Modelo de negócios: fluxos de receita

Vendas de petróleo bruto

No ano fiscal de 2023, a Murphy Oil Corporation registrou uma receita total de vendas de petróleo de US $ 2,63 bilhões. A produção média diária foi de aproximadamente 167.000 barris de petróleo equivalente (BOE) por dia.

Região	Produção de petróleo bruto (Boe/Day)	Receita ($ m)
Estados Unidos	88,000	1,450
Operações Internacionais	79,000	1,180

Receitas de produção de gás natural

As receitas de gás natural para a Murphy Oil Corporation em 2023 totalizaram US $ 612 milhões, com uma produção média diária de 385 milhões de pés cúbicos por dia.

• Preço médio de gás natural: US $ 3,42 por milhão de unidades térmicas britânicas (MMBTU)
• Volume total de vendas de gás natural: 140,6 bilhões de pés cúbicos

Marketing de produtos petrolíferos

O marketing de produtos petrolíferos gerou US $ 487 milhões em receita para a Murphy Oil Corporation em 2023.

Tipo de produto	Volume (barris)	Receita ($ m)
Gasolina	12,5 milhões	215
Diesel	9,3 milhões	272

Contratos de negociação de energia e commodities

As receitas de contrato de comércio e commodities da Murphy Oil Corporation totalizaram US $ 203 milhões em 2023.

• Ganhos de contrato derivado: US $ 67 milhões
• Receitas de hedge: US $ 136 milhões

Serviço tecnológico e taxas de licenciamento

O serviço tecnológico e as taxas de licenciamento contribuíram com US $ 42 milhões para o fluxo de receita da Murphy Oil Corporation em 2023.

Tipo de serviço	Receita ($ m)
Consultoria técnica	22
Acordos de licenciamento	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.