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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
[1]
Sep. 30, 2019
Sep. 30, 2018
[1]
Revenues        
Revenue from sales to customers $ 750,337 $ 475,458 $ 2,060,127 $ 1,330,399
Gain (loss) on crude contracts 63,247 [2] (2,223) 121,163 (69,349)
Gain on sale of assets and other income 3,493 17,276 10,283 26,713
Total revenues 817,077 490,511 2,191,573 1,287,763
Costs and expenses        
Lease operating expenses 147,632 83,751 416,460 253,820
Severance and ad valorem taxes 13,803 15,066 36,972 40,099
Transportation, gathering and processing 54,305 16,945 128,748 49,827
Exploration expenses, including undeveloped lease amortization 12,358 21,723 75,570 69,350
Selling and general expenses 55,366 60,683 176,258 165,074
Depreciation, depletion and amortization 325,562 197,503 819,270 570,997 [3]
Accretion of asset retirement obligations 10,587 6,466 29,824 19,234 [3]
Other expense (benefit) (29,000) (34,386) 26,442 (44,773)
Total costs and expenses 590,613 367,751 1,709,544 1,123,628
Operating income from continuing operations 226,464 122,760 482,029 164,135
Other income (loss)        
Interest and other income (loss) (4,418) (4,583) (18,134) (713)
Interest expense, net (44,930) (44,209) (145,095) (133,075)
Total other loss (49,348) (48,792) (163,229) (133,788)
Income (loss) from continuing operations before income taxes 177,116 73,968 318,800 30,347
Income tax expense (benefit) 18,782 17,837 38,719 (91,180)
Income (loss) from continuing operations 158,334 56,131 280,081 121,527
Income from discontinued operations, net of income taxes 953,368 37,812 1,027,632 186,188 [3]
Net income including noncontrolling interest 1,111,702 93,943 1,307,713 307,715 [3]
Less: Net income attributable to noncontrolling interest 22,700 0 86,257 0
NET INCOME ATTRIBUTABLE TO MURPHY $ 1,089,002 $ 93,943 [2] $ 1,221,456 $ 307,715 [2]
INCOME (LOSS) PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ 0.85 $ 0.32 $ 1.16 $ 0.70
Discontinued operations (in USD per share) 5.94 0.22 6.14 1.08
Net Income (in USD per share) 6.79 0.54 7.30 1.78
INCOME (LOSS) PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) 0.84 0.32 1.16 0.70
Discontinued operations (in USD per share) 5.92 0.22 6.11 1.07
Net Income (in USD per share) 6.76 0.54 7.27 1.77
Cash dividends per Common share (in USD per share) $ 0.25 $ 0.25 $ 0.75 $ 0.75
Average Common shares outstanding (thousands)        
Basic (in shares) 160,365,705 173,047,246 167,310,202 172,949,450
Diluted (in shares) 160,980,038 174,175,267 168,105,227 174,201,760
[1] Reclassified to conform to current presentation (see Note A).
[2] Reclassified to conform to current presentation (see Note A).
[3] Reclassified to conform to current presentation (See Note A).