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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues and other income        
Total revenue from sales to customers $ 753,169,000 $ 953,766,000 $ 2,349,024,000 $ 2,606,584,000
(Loss) on derivative instruments (1,344,000) 0 (1,344,000) 0
Gain on sale of assets and other income 6,506,000 5,879,000 9,834,000 9,365,000
Total revenues and other income 758,331,000 959,645,000 2,357,514,000 2,615,949,000
Costs and expenses        
Lease operating expenses 222,886,000 193,402,000 716,778,000 587,678,000
Severance and ad valorem taxes 10,503,000 10,937,000 31,006,000 35,142,000
Transportation, gathering and processing 47,438,000 61,518,000 157,461,000 175,308,000
Costs of purchased natural gas 0 5,467,000 3,147,000 47,393,000
Exploration expenses, including undeveloped lease amortization 31,284,000 26,514,000 118,390,000 152,489,000
Selling and general expenses 24,871,000 30,745,000 78,925,000 74,398,000
Depreciation, depletion and amortization 223,632,000 237,493,000 650,309,000 648,830,000
Accretion of asset retirement obligations 13,241,000 11,675,000 39,068,000 34,196,000
Other operating expense 5,450,000 4,385,000 10,497,000 21,333,000
Impairment of assets 0 0 34,528,000 0
Total costs and expenses 579,305,000 582,136,000 1,840,109,000 1,776,767,000
Operating income from continuing operations 179,026,000 377,509,000 517,405,000 839,182,000
Other income (loss)        
Other (loss) income (3,926,000) 8,811,000 33,870,000 1,044,000
Interest expense, net (21,258,000) (29,984,000) (62,265,000) (88,695,000)
Total other loss (25,184,000) (21,173,000) (28,395,000) (87,651,000)
Income from continuing operations before income taxes 153,842,000 356,336,000 489,010,000 751,531,000
Income tax expense 2,122,000 78,111,000 64,855,000 166,813,000
Income from continuing operations 151,720,000 278,225,000 424,155,000 584,718,000
Loss from discontinued operations, net of income taxes (608,000) (421,000) (2,123,000) (744,000)
Net income including noncontrolling interest 151,112,000 277,804,000 422,032,000 583,974,000
Less: Net income attributable to noncontrolling interest 12,018,000 22,462,000 65,197,000 38,701,000
NET INCOME ATTRIBUTABLE TO MURPHY $ 139,094,000 $ 255,342,000 $ 356,835,000 $ 545,273,000
INCOME (LOSS) PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ 0.93 $ 1.64 $ 2.37 $ 3.50
Discontinued operations (in USD per share) 0 0 (0.01) 0
Net income (in USD per share) 0.93 1.64 2.36 3.50
INCOME (LOSS) PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) 0.93 1.63 2.35 3.47
Discontinued operations (in USD per share) 0 0 (0.01) 0
Net income (in USD per share) 0.93 1.63 2.34 3.47
Cash dividends per common share (in USD per share) $ 0.300 $ 0.275 $ 0.900 $ 0.827
Average common shares outstanding        
Basic (in shares) 149,384,354 155,453,897 151,400,726 155,749,486
Diluted (in shares) 150,352,782 156,829,408 152,437,379 157,135,345
Revenue from production        
Revenues and other income        
Total revenue from sales to customers $ 753,169,000 $ 945,889,000 $ 2,345,282,000 $ 2,541,956,000
Sales of purchased natural gas        
Revenues and other income        
Total revenue from sales to customers $ 0 $ 7,877,000 $ 3,742,000 $ 64,628,000