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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues and other income        
Total revenue from sales to customers $ 1,196,238 $ 758,829 $ 2,067,612 $ 1,351,356
Loss on crude contracts (103,068) (226,245) (423,845) (440,630)
Gain on sale of assets and other income 7,887 17,059 10,251 18,902
Total revenues and other income 1,101,057 549,643 1,654,018 929,628
Costs and expenses        
Lease operating expenses 147,352 126,413 284,177 273,577
Severance and ad valorem taxes 17,565 11,314 32,200 20,545
Transportation, gathering and processing 49,948 49,696 96,871 92,608
Costs of purchased natural gas 47,971 0 81,636 0
Exploration expenses, including undeveloped lease amortization 15,151 13,543 62,717 25,323
Selling and general expenses 27,130 29,113 60,659 58,616
Depreciation, depletion and amortization 195,856 227,288 359,980 425,566
Accretion of asset retirement obligations 11,563 12,164 23,439 22,656
Impairment of assets 0 0 0 171,296
Other operating expense 36,913 70,328 142,855 91,407
Total costs and expenses 549,449 539,859 1,144,534 1,181,594
Operating income (loss) from continuing operations 551,608 9,784 509,484 (251,966)
Other income (loss)        
Other income (expense) 5,308 (4,525) 2,813 (9,866)
Interest expense, net (41,385) (43,374) (78,662) (131,474)
Total other (loss) (36,077) (47,899) (75,849) (141,340)
Income (loss) from continuing operations before income taxes 515,531 (38,115) 433,635 (393,306)
Income tax (benefit) expense 105,084 (11,177) 88,123 (99,336)
Income (loss) from continuing operations 410,447 (26,938) 345,512 (293,970)
(Loss) income from discontinued operations, net of income taxes (943) (102) (1,494) 106
Net income (loss) including noncontrolling interest 409,504 (27,040) 344,018 (293,864)
Less: Net income attributable to noncontrolling interest 58,947 36,042 106,797 56,656
NET INCOME (LOSS) ATTRIBUTABLE TO MURPHY $ 350,557 $ (63,082) $ 237,221 $ (350,520)
INCOME (LOSS) PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ 2.27 $ (0.41) $ 1.54 $ (2.27)
Discontinued operations (in USD per share) (0.01) 0 (0.01) 0
Net income (loss) (in USD per share) 2.26 (0.41) 1.53 (2.27)
INCOME (LOSS) PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) 2.24 (0.41) 1.51 (2.27)
Discontinued operations (in USD per share) (0.01) 0 (0.01) 0
Net income (loss) (in USD per share) 2.23 (0.41) 1.50 (2.27)
Cash dividends per Common share (in USD per share) $ 0.175 $ 0.125 $ 0.325 $ 0.250
Average Common shares outstanding (thousands)        
Basic (in shares) 155,388,555 154,394,602 155,121,098 154,153,158
Diluted (in shares) 157,455,130 154,394,602 157,851,722 154,153,158
Revenue from production        
Revenues and other income        
Total revenue from sales to customers $ 1,146,299 $ 758,829 $ 1,980,827 $ 1,351,356
Sales of purchased natural gas        
Revenues and other income        
Total revenue from sales to customers $ 49,939 $ 0 $ 86,785 $ 0