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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues and other income        
Total revenue from sales to customers $ 953,766 $ 1,166,409 $ 2,606,584 $ 3,234,021
Gain (loss) on derivative instruments 0 115,191 0 (308,654)
Gain on sale of assets and other income 5,879 21,825 9,365 32,076
Total revenues and other income 959,645 1,303,425 2,615,949 2,957,443
Costs and expenses        
Lease operating expenses 193,402 198,710 587,678 482,887
Severance and ad valorem taxes 10,937 15,140 35,142 47,340
Transportation, gathering and processing 61,518 55,348 175,308 152,219
Costs of purchased natural gas 5,467 43,622 47,393 125,258
Exploration expenses, including undeveloped lease amortization 26,514 9,491 152,489 72,208
Selling and general expenses 30,745 29,348 74,398 90,007
Depreciation, depletion and amortization 237,493 214,521 648,830 574,501
Accretion of asset retirement obligations 11,675 11,286 34,196 34,725
Other operating expense (benefit) 4,385 (27,129) 21,333 115,726
Total costs and expenses 582,136 550,337 1,776,767 1,694,871
Operating income from continuing operations 377,509 753,088 839,182 1,262,572
Other loss        
Other income 8,811 18,301 1,044 21,114
Interest expense, net (29,984) (37,440) (88,695) (116,102)
Total other loss (21,173) (19,139) (87,651) (94,988)
Income from continuing operations before income taxes 356,336 733,949 751,531 1,167,584
Income tax expense 78,111 159,451 166,813 247,574
Income from continuing operations 278,225 574,498 584,718 920,010
Loss from discontinued operations, net of income taxes (421) (422) (744) (1,916)
Net income including noncontrolling interest 277,804 574,076 583,974 918,094
Less: Net income attributable to noncontrolling interest 22,462 45,648 38,701 152,445
NET INCOME ATTRIBUTABLE TO MURPHY $ 255,342 $ 528,428 $ 545,273 $ 765,649
INCOME PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ 1.64 $ 3.40 $ 3.50 $ 4.94
Discontinued operations (in USD per share) 0 0 0 (0.01)
Net income (in USD per share) 1.64 3.40 3.50 4.93
INCOME (LOSS) PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) 1.63 3.36 3.47 4.87
Discontinued operations (in USD per share) 0 0 0 (0.01)
Net income (in USD per share) 1.63 3.36 3.47 4.86
Cash dividends per common share (in USD per share) $ 0.275 $ 0.250 $ 0.827 $ 0.575
Average common shares outstanding        
Basic (in shares) 155,453,897 155,446,201 155,749,486 155,220,945
Diluted (in shares) 156,829,408 157,336,173 157,135,345 157,406,902
Revenue from production        
Revenues and other income        
Total revenue from sales to customers $ 945,889 $ 1,120,909 $ 2,541,956 $ 3,101,736
Sales of purchased natural gas        
Revenues and other income        
Total revenue from sales to customers $ 7,877 $ 45,500 $ 64,628 $ 132,285