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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues and other income        
Total revenue from sales to customers $ 801,007,000 $ 812,850,000 $ 1,595,855,000 $ 1,652,818,000
Gain on sale of assets and other income 1,764,000 1,738,000 3,328,000 3,486,000
Total revenues and other income 802,771,000 814,588,000 1,599,183,000 1,656,304,000
Costs and expenses        
Lease operating expenses 259,628,000 194,292,000 493,892,000 394,276,000
Severance and ad valorem taxes 10,417,000 12,765,000 20,503,000 24,205,000
Transportation, gathering and processing 53,470,000 59,868,000 110,023,000 113,790,000
Costs of purchased natural gas 2,987,000 9,657,000 3,147,000 41,926,000
Exploration expenses, including undeveloped lease amortization 42,677,000 115,793,000 87,106,000 125,975,000
Selling and general expenses 22,893,000 25,345,000 54,054,000 43,653,000
Depreciation, depletion and amortization 215,543,000 215,667,000 426,677,000 411,337,000
Accretion of asset retirement obligations 13,053,000 11,364,000 25,827,000 22,521,000
Other operating (income) expense (2,219,000) 4,960,000 5,047,000 16,948,000
Impairment of assets 0 0 34,528,000 0
Total costs and expenses 618,449,000 649,711,000 1,260,804,000 1,194,631,000
Operating income from continuing operations 184,322,000 164,877,000 338,379,000 461,673,000
Other income (loss)        
Other income (loss) 26,245,000 (7,694,000) 37,796,000 (7,767,000)
Interest expense, net (20,986,000) (29,856,000) (41,007,000) (58,711,000)
Total other income (loss) 5,259,000 (37,550,000) (3,211,000) (66,478,000)
Income from continuing operations before income taxes 189,581,000 127,327,000 335,168,000 395,195,000
Income tax expense 32,676,000 34,870,000 62,733,000 88,703,000
Income from continuing operations 156,905,000 92,457,000 272,435,000 306,492,000
Loss from discontinued operations, net of income taxes (643,000) (602,000) (1,515,000) (323,000)
Net income including noncontrolling interest 156,262,000 91,855,000 270,920,000 306,169,000
Less: Net income (loss) attributable to noncontrolling interest 28,523,000 (6,431,000) 53,179,000 16,239,000
NET INCOME ATTRIBUTABLE TO MURPHY $ 127,739,000 $ 98,286,000 $ 217,741,000 $ 289,930,000
INCOME (LOSS) PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ 0.84 $ 0.63 $ 1.44 $ 1.86
Discontinued operations (in USD per share) 0 0 (0.01) 0
Net income (in USD per share) 0.84 0.63 1.43 1.86
INCOME (LOSS) PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) 0.83 0.62 1.43 1.84
Discontinued operations (in USD per share) 0 0 (0.01) 0
Net income (in USD per share) 0.83 0.62 1.42 1.84
Cash dividends per common share (in USD per share) $ 0.300 $ 0.275 $ 0.600 $ 0.550
Average common shares outstanding        
Basic (in shares) 152,153,401 156,126,580 152,408,912 155,976,326
Diluted (in shares) 153,143,584 157,298,962 153,479,678 157,308,022
Revenue from production        
Revenues and other income        
Total revenue from sales to customers $ 797,510,000 $ 799,836,000 $ 1,592,113,000 $ 1,596,067,000
Sales of purchased natural gas        
Revenues and other income        
Total revenue from sales to customers $ 3,497,000 $ 13,014,000 $ 3,742,000 $ 56,751,000