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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues and other income        
Total revenue from sales to customers $ 812,850 $ 1,196,238 $ 1,652,818 $ 2,067,612
Loss on derivative instruments 0 (103,068) 0 (423,845)
Gain on sale of assets and other income 1,738 7,887 3,486 10,251
Total revenues and other income 814,588 1,101,057 1,656,304 1,654,018
Costs and expenses        
Lease operating expenses 194,292 147,352 394,276 284,177
Severance and ad valorem taxes 12,765 17,565 24,205 32,200
Transportation, gathering and processing 59,868 49,948 113,790 96,871
Costs of purchased natural gas 9,657 47,971 41,926 81,636
Exploration expenses, including undeveloped lease amortization 115,793 15,151 125,975 62,717
Selling and general expenses 25,345 27,130 43,653 60,659
Depreciation, depletion and amortization 215,667 195,856 411,337 359,980
Accretion of asset retirement obligations 11,364 11,563 22,521 23,439
Other operating expense 4,960 36,913 16,948 142,855
Total costs and expenses 649,711 549,449 1,194,631 1,144,534
Operating income from continuing operations 164,877 551,608 461,673 509,484
Other income (loss)        
Other (expenses) income (7,694) 5,308 (7,767) 2,813
Interest expense, net (29,856) (41,385) (58,711) (78,662)
Total other loss (37,550) (36,077) (66,478) (75,849)
Income from continuing operations before income taxes 127,327 515,531 395,195 433,635
Income tax expense 34,870 105,084 88,703 88,123
Income from continuing operations 92,457 410,447 306,492 345,512
Loss from discontinued operations, net of income taxes (602) (943) (323) (1,494)
Net income including noncontrolling interest 91,855 409,504 306,169 344,018
Less: Net (loss) income attributable to noncontrolling interest (6,431) 58,947 16,239 106,797
NET INCOME ATTRIBUTABLE TO MURPHY $ 98,286 $ 350,557 $ 289,930 $ 237,221
INCOME PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ 0.63 $ 2.27 $ 1.86 $ 1.54
Discontinued operations (in USD per share) 0 (0.01) 0 (0.01)
Net income (in USD per share) 0.63 2.26 1.86 1.53
INCOME (LOSS) PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) 0.62 2.24 1.84 1.51
Discontinued operations (in USD per share) 0 (0.01) 0 (0.01)
Net income (in USD per share) 0.62 2.23 1.84 1.50
Cash dividends per common share (in USD per share) $ 0.275 $ 0.175 $ 0.550 $ 0.325
Average common shares outstanding        
Basic (in shares) 156,126,580 155,388,555 155,976,326 155,121,098
Diluted (in shares) 157,298,962 157,455,130 157,308,022 157,851,722
Revenue from production        
Revenues and other income        
Total revenue from sales to customers $ 799,836 $ 1,146,299 $ 1,596,067 $ 1,980,827
Sales of purchased natural gas        
Revenues and other income        
Total revenue from sales to customers $ 13,014 $ 49,939 $ 56,751 $ 86,785