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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues and other income      
Total revenue from sales to customers $ 3,018,598,000 $ 3,448,854,000 $ 4,220,140,000
(Loss) on derivative instruments (1,707,000) 0 (320,410,000)
Gain on sale of assets and other operating income 11,583,000 11,293,000 32,932,000
Total revenues and other income 3,028,474,000 3,460,147,000 3,932,662,000
Costs and expenses      
Lease operating expenses 936,960,000 784,391,000 679,342,000
Severance and ad valorem taxes 39,162,000 42,787,000 57,012,000
Transportation, gathering and processing 210,827,000 232,985,000 212,711,000
Costs of purchased natural gas 3,147,000 51,682,000 171,991,000
Exploration expenses, including undeveloped lease amortization 133,538,000 234,776,000 133,197,000
Selling and general expenses 110,085,000 117,306,000 131,121,000
Depreciation, depletion and amortization 865,753,000 861,602,000 776,817,000
Accretion of asset retirement obligations 52,511,000 46,059,000 46,243,000
Impairment of assets 62,909,000 0 0
Other operating expense 10,989,000 46,530,000 137,518,000
Total costs and expenses 2,425,881,000 2,418,118,000 2,345,952,000
Operating income from continuing operations 602,593,000 1,042,029,000 1,586,710,000
Other income (loss)      
Other income (loss) 70,902,000 (8,587,000) 14,310,000
Interest expense, net (105,926,000) (112,373,000) (150,759,000)
Total other loss (35,024,000) (120,960,000) (136,449,000)
Income from continuing operations before income taxes 567,569,000 921,069,000 1,450,261,000
Income tax expense 78,272,000 195,921,000 309,464,000
Income from continuing operations 489,297,000 725,148,000 1,140,797,000
Loss from discontinued operations, net of income taxes (2,812,000) (1,467,000) (2,078,000)
Net income including noncontrolling interest 486,485,000 723,681,000 1,138,719,000
Less: Net income attributable to noncontrolling interest 79,314,000 62,122,000 173,672,000
NET INCOME ATTRIBUTABLE TO MURPHY $ 407,171,000 $ 661,559,000 $ 965,047,000
NET INCOME (LOSS) PER COMMON SHARE – BASIC      
Continuing operations (in USD per share) $ 2.73 $ 4.27 $ 6.23
Discontinued operations (in USD per share) (0.02) (0.01) (0.01)
Net income (in USD per share) 2.71 4.26 6.22
NET INCOME (LOSS) PER COMMON SHARE – DILUTED      
Continuing operations (in USD per share) 2.72 4.23 6.14
Discontinued operations (in USD per share) (0.02) (0.01) (0.01)
Net income (in USD per share) 2.70 4.22 6.13
Cash dividends per Common share (in USD per share) $ 1.200 $ 1.100 $ 0.825
Average common shares outstanding (thousands)      
Basic (in shares) 150,011,458 155,233,560 155,276,533
Diluted (in shares) 151,027,352 156,646,429 157,474,838
Revenue from production      
Revenues and other income      
Total revenue from sales to customers $ 3,014,856,000 $ 3,376,639,000 $ 4,038,451,000
Sales of purchased natural gas      
Revenues and other income      
Total revenue from sales to customers $ 3,742,000 $ 72,215,000 $ 181,689,000