CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 377,196	$ 423,569
Accounts receivable, net	346,759	272,530
Inventories	57,284	54,858
Prepaid expenses	35,473	34,322
Total current assets	816,712	785,279
Property, plant and equipment, at cost less accumulated depreciation, depletion and amortization of $15,068,149 in 2025 and $13,811,539 in 2024	8,136,346	8,054,653
Operating lease assets	805,464	777,536
Deferred charges and other assets	74,104	50,011
Total assets	9,832,626	9,667,479
Current liabilities
Current maturities of long-term debt, finance lease	2,514	871
Accounts payable	572,183	472,165
Income taxes payable	18,209	19,003
Other taxes payable	28,295	31,685
Operating lease liabilities	278,834	253,208
Other accrued liabilities	120,755	117,802
Current asset retirement obligations	41,959	48,080
Total current liabilities	1,062,749	942,814
Long-term debt, including finance lease obligation	1,382,566	1,274,502
Asset retirement obligations	970,908	960,804
Deferred credits and other liabilities	263,596	274,345
Non-current operating lease liabilities	537,773	537,381
Deferred income taxes	378,337	335,790
Total liabilities	4,595,929	4,325,636
Equity
Cumulative Preferred Stock, par $100, authorized 400,000 shares, none issued	0	0
Common Stock, par $1.00, authorized 450,000,000 shares, issued 195,100,628 shares at December 31, 2025 and 195,100,628 shares at December 31, 2024	195,101	195,101
Capital in excess of par value	859,633	848,950
Retained earnings	6,691,318	6,773,289
Accumulated other comprehensive loss	(554,227)	(628,072)
Treasury stock	(2,073,445)	(1,995,018)
Murphy Shareholders' Equity	5,118,380	5,194,250
Noncontrolling interest	118,317	147,593
Total equity	5,236,697	5,341,843
Total liabilities and equity	$ 9,832,626	$ 9,667,479