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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues and other income        
Revenue from sales to customers $ 285,745 $ 680,436 $ 886,303 $ 1,309,790
(Loss) gain on crude contracts (75,880) 57,916 324,792 57,916
Gain on sale of assets and other income 1,677 5,598 4,175 6,790
Total revenues and other income 211,542 743,950 1,215,270 1,374,496
Costs and expenses        
Lease operating expenses 144,644 137,132 353,792 268,828
Severance and ad valorem taxes 6,442 13,072 15,864 23,169
Transportation, gathering and processing 41,090 34,901 85,457 74,443
Exploration expenses, including undeveloped lease amortization 29,468 30,674 49,594 63,212
Selling and general expenses 39,100 57,532 75,872 120,892
Restructuring expenses 41,397 0 41,397 0
Depreciation, depletion and amortization 231,446 264,302 537,548 493,708
Accretion of asset retirement obligations 10,469 9,897 20,435 19,237
Impairment of assets 19,616 0 987,146 0
Other (benefit) expense 22,007 25,437 (23,181) 55,442
Total costs and expenses 585,679 572,947 2,143,924 1,118,931
Operating (loss) income from continuing operations (374,137) 171,003 (928,654) 255,565
Other income (loss)        
Interest and other income (loss) (5,171) (8,968) (4,930) (13,716)
Interest expense, net (38,598) (54,096) (79,695) (100,165)
Total other loss (43,769) (63,064) (84,625) (113,881)
(Loss) income from continuing operations before income taxes (417,906) 107,939 (1,013,279) 141,684
Income tax (benefit) expense (94,773) 9,115 (186,306) 19,937
(Loss) income from continuing operations (323,133) 98,824 (826,973) 121,747
(Loss) income from discontinued operations, net of income taxes (1,267) 24,418 (6,129) 74,264
Net (loss) income including noncontrolling interest (324,400) 123,242 (833,102) 196,011
Less: Net (loss) income attributable to noncontrolling interest (7,216) 30,970 (99,814) 63,557
NET (LOSS) INCOME ATTRIBUTABLE TO MURPHY $ (317,184) $ 92,272 $ (733,288) $ 132,454
(LOSS) INCOME PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ (2.05) $ 0.40 $ (4.74) $ 0.34
Discontinued operations (in USD per share) (0.01) 0.15 (0.04) 0.44
Net (loss) income (in USD per share) (2.06) 0.55 (4.78) 0.78
(LOSS) INCOME PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) (2.05) 0.40 (4.74) 0.34
Discontinued operations (in USD per share) (0.01) 0.14 (0.04) 0.43
Net (loss) income (in USD per share) (2.06) 0.54 (4.78) 0.77
Cash dividends per Common share (in USD per share) $ 0.13 $ 0.25 $ 0.38 $ 0.50
Average Common shares outstanding (thousands)        
Basic (in shares) 153,580,758 168,537,896 153,428,666 170,555,685
Diluted (in shares) 153,580,758 169,272,463 153,428,666 171,432,692