Subsequent Event

12 Months Ended

Dec. 31, 2025

Subsequent Events [Abstract]

Subsequent Event

Note U – Subsequent Event

On January 28, 2026, the Board of Directors of Murphy Oil Corporation (NYSE: MUR) declared a quarterly cash dividend on the Common Stock of Murphy Oil Corporation of $0.35 per share, which on an annualized basis would be $1.40 per share. The dividend is payable on March 2, 2026, to stockholders of record as of February 17, 2026.

In January 2026, the Company completed a series of transactions regarding its long-term debt arrangements and RCF. In particular, the Company closed a public offering of $500.0 million aggregate principal amount of its 2034 Notes, used the proceeds to redeem an aggregate $227.5 million of its outstanding 2027 Notes and 2028 Notes, repaid $100.0 million that was outstanding on the previous RCF, as of December 31, 2025, and expects to use the remaining proceeds to cover transaction-related fees and expenses and for general corporate purposes. In addition, the Company entered into an amendment to its credit agreement which increased its RCF capacity from $1.35 billion to $2.0 billion and extended the term of the agreement to 2031. See Note F for additional information on these transactions.

Subsequent to the balance sheet date, the Company announced oil discoveries at the Cello #1 (Mississippi Canyon 385) and Banjo #1 (Mississippi Canyon 385) exploration wells in the Gulf of America and dry holes at the Civette-1X (Block CI-502) and Caracal-1X (Block CI-102) exploration wells in Côte d’Ivoire. A portion of the Civette-1X dry hole charge was recorded in 2025. The remainder of Civette-1X and all charges related to the Caracal-1X well will be recorded in the first quarter of 2026. See Note D for additional information.