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Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The Company’s revenues and other income for each of the three years presented were as follows.
Years Ended December 31,
(Thousands of dollars)202420232022
Net crude oil and condensate revenue
United States - Onshore
$586,584 $676,139 $856,219 
United States - Offshore 1
1,777,723 2,072,353 2,229,658 
Canada - Onshore70,855 78,088 131,400 
Canada - Offshore193,961 78,650 117,747 
Other6,537 11,022 22,824 
Total crude oil and condensate revenue2,635,660 2,916,252 3,357,848 
Net natural gas liquids revenue
United States - Onshore32,853 33,178 64,015 
United States - Offshore 1
38,858 47,434 60,424 
Canada - Onshore7,454 8,914 18,338 
Total natural gas liquids revenue79,165 89,526 142,777 
Net natural gas revenue
United States - Onshore17,443 21,346 64,037 
United States - Offshore 1
50,329 71,332 161,160 
Canada - Onshore232,259 278,183 312,629 
Total natural gas revenue300,031 370,861 537,826 
Revenue from production3,014,856 3,376,639 4,038,451 
Sales of purchased natural gas 2
United States - Offshore
— — 204 
Canada - Onshore
3,742 72,215 181,485 
Total sales of purchased natural gas3,742 72,215 181,689 
Total revenue from sales to customers 3,018,598 3,448,854 4,220,140 
(Loss) on derivative instruments(1,707)— (320,410)
Gain on sale of assets and other operating income11,583 11,293 32,932 
Total revenues and other income
$3,028,474 $3,460,147 $3,932,662 
1 Includes revenue attributable to noncontrolling interest in MP GOM.
2 Purchases of natural gas are reported on a gross basis when Murphy takes control of the product and has risks and rewards of ownership. Sales of natural gas are reported when the contractual performance obligations are satisfied. This occurs at the time the product is delivered to a third party purchaser at the contractually determinable price.
Schedule of Current Long-Term Contracts Outstanding
As of December 31, 2024, the Company had the following sales contracts in place which are expected to generate revenue from sales to customers for a period over 12 months starting at the inception of the contract:
Long-Term Contracts Outstanding at December 31, 2024
LocationCommodityEnd DateDescriptionApproximate Volumes
U.S.Natural Gas and NGLsQ2 2030Deliveries from dedicated acreage in Eagle FordAs produced
CanadaNatural GasQ4 2025Contracts to sell natural gas at USD index pricing25 MMCFD
CanadaNatural GasQ4 2026Contracts to sell natural gas at USD index pricing49 MMCFD
CanadaNatural GasQ4 2027Contracts to sell natural gas at USD index pricing30 MMCFD
CanadaNatural GasQ4 2028Contracts to sell natural gas at USD index pricing10 MMCFD
CanadaNatural GasQ4 2025Contracts to sell natural gas at CAD fixed pricing40 MMCFD
CanadaNatural GasQ4 2026Contracts to sell natural gas at CAD fixed pricing50 MMCFD
CanadaNGLsQ2 2025Contracts to sell NGLs at CAD index pricingAs produced