Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2025

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)	2025		2024		2023
Net crude oil and condensate revenue
United States - Onshore	$	617,358	$	586,584	$	676,139
United States - Offshore 1	1,355,527		1,777,723		2,072,353
Canada - Onshore	61,715		70,855		78,088
Canada - Offshore	187,030		193,961		78,650
Other	5,713		6,537		11,022
Total crude oil and condensate revenue	2,227,343		2,635,660		2,916,252
Net natural gas liquids revenue
United States - Onshore	41,518		32,853		33,178
United States - Offshore 1	33,029		38,858		47,434
Canada - Onshore	5,626		7,454		8,914
Total natural gas liquids revenue	80,173		79,165		89,526
Net natural gas revenue
United States - Onshore	35,524		17,443		21,346
United States - Offshore 1	70,968		50,329		71,332
Canada - Onshore	275,837		232,259		278,183
Total natural gas revenue	382,329		300,031		370,861
Revenue from production	2,689,845		3,014,856		3,376,639
Sales of purchased natural gas 2
Canada - Onshore	—		3,742		72,215
Total sales of purchased natural gas	—		3,742		72,215
Total revenue from sales to customers	2,689,845		3,018,598		3,448,854
Gain (loss) on derivative instruments	5,927		(1,707)		—
Gain on sale of assets and other operating income	23,051		11,583		11,293
Total revenues and other income	$	2,718,823	$	3,028,474	$	3,460,147

1 Includes revenue attributable to the 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, 2025, 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.

Location	Commodity	End Date	Description	Approximate Volumes
U.S.	Natural Gas and NGLs	Q2 2030	Deliveries from dedicated acreage in Eagle Ford Shale	As produced
Canada	Natural Gas	Q4 2026	Contracts to sell natural gas at USD index pricing	49 MMCF/D
Canada	Natural Gas	Q4 2027	Contracts to sell natural gas at USD index pricing	30 MMCF/D
Canada	Natural Gas	Q4 2028	Contracts to sell natural gas at USD index pricing	10 MMCF/D
Canada	Natural Gas	Q4 2026	Contracts to sell natural gas at CAD fixed pricing	50 MMCF/D
Canada	Natural Gas	Q4 2027	Contracts to sell natural gas at CAD fixed pricing	9 MMCF/D
Canada	NGLs	Q4 2026	Contracts to sell NGLs at CAD index pricing	As produced