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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues and other income        
Revenue from sales to customers $ 687,549 $ 425,324 $ 2,038,905 $ 1,311,627
(Loss) gain on derivative instruments (59,164) (5,290) (499,794) 319,502
Gain on sale of assets and other income 2,315 1,831 21,217 6,006
Total revenues and other income 630,700 421,865 1,560,328 1,637,135
Costs and expenses        
Lease operating expenses 130,131 124,491 403,708 478,283
Severance and ad valorem taxes 11,670 6,781 32,215 22,645
Transportation, gathering and processing 44,588 41,322 137,196 126,779
Exploration expenses, including undeveloped lease amortization 24,517 12,092 49,840 61,686
Selling and general expenses 27,210 28,509 85,826 104,381
Restructuring expenses 0 4,982 0 46,379
Depreciation, depletion and amortization 189,806 231,603 615,372 769,151
Accretion of asset retirement obligations 12,198 10,778 34,854 31,213
Impairment of assets 0 219,138 171,296 1,206,284
Other (benefit) expense (32,791) 20,224 58,616 (2,957)
Total costs and expenses 407,329 699,920 1,588,923 2,843,844
Operating income (loss) from continuing operations 223,371 (278,055) (28,595) (1,206,709)
Other income (loss)        
Interest income and other (loss) (1,593) (5,177) (11,459) (10,107)
Interest expense, net (46,925) (45,182) (178,399) (124,877)
Total other loss (48,518) (50,359) (189,858) (134,984)
Income (loss) from continuing operations before income taxes 174,853 (328,414) (218,453) (1,341,693)
Income tax expense (benefit) 36,838 (62,584) (62,498) (248,890)
Income (loss) from continuing operations 138,015 (265,830) (155,955) (1,092,803)
(Loss) from discontinued operations, net of income taxes (706) (778) (600) (6,907)
Net income (loss) including noncontrolling interest 137,309 (266,608) (156,555) (1,099,710)
Less: Net income (loss) attributable to noncontrolling interest 28,853 (23,055) 85,509 (122,869)
NET INCOME (LOSS) ATTRIBUTABLE TO MURPHY $ 108,456 $ (243,553) $ (242,064) $ (976,841)
INCOME (LOSS) PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ 0.70 $ (1.58) $ (1.57) $ (6.31)
Discontinued operations (in USD per share) 0 (0.01) 0 (0.05)
Net income (loss) (in USD per share) 0.70 (1.59) (1.57) (6.36)
INCOME (LOSS) PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) 0.70 (1.58) (1.57) (6.31)
Discontinued operations (in USD per share) 0 (0.01) 0 (0.05)
Net income (loss) (in USD per share) 0.70 (1.59) (1.57) (6.36)
Cash dividends per Common share (in USD per share) $ 0.125 $ 0.125 $ 0.375 $ 0.500
Average Common shares outstanding (thousands)        
Basic (in shares) 154,439,313 153,596,109 154,239,440 153,479,654
Diluted (in shares) 155,932,262 153,596,109 154,239,440 153,479,654