Murphy Oil Corporation Reports Fourth Quarter and Full Year 2025 Results

On January 28, 2026, Murphy Oil Corporation (NYSE: MUR) announced its financial and operational results for the fourth quarter and full year 2025. The results reflect a solid performance despite challenging market conditions, with significant progress in production and shareholder returns.

For the quarter ending December 31, 2025, Murphy Oil recorded a net income attributable to the company of $11.9 million, or $0.08 per diluted share. Adjusted net income from continuing operations (a non-GAAP measure) was $19.7 million, or $0.14 per share. The company achieved an adjusted EBITDA of $298.1 million, contributing to total revenues of $624.6 million.

Over the full year 2025, Murphy Oil generated a net income of $104.2 million, translating to $0.72 per diluted share. Adjusted net income from continuing operations soared to $197.0 million, with a robust adjusted EBITDA of $1.362 billion. Total cash provided by continuing operations was $1.248 billion, while free cash flow reached $301.3 million.

Murphy’s production for the fourth quarter averaged 181,431 BOEPD (barrels of oil equivalent per day), slightly exceeding the midpoint of the company’s quarterly guidance. This production includes 87,044 BOPD of oil.

For the entire year of 2025, the company achieved an average production of 182,300 BOEPD, positioning itself at the high end of its annual production guidance.

During the fourth quarter, Murphy spud four significant exploration wells in various locations, including Vietnam and Côte d’Ivoire. Development drilling at the Lac Da Vang project in Vietnam commenced ahead of schedule, reflecting Murphy’s commitment to advancing its growth initiatives.

Murphy Oil continued to prioritize shareholder returns, distributing $286 million in 2025, which included $186 million in dividends and $100 million in stock repurchases. The company also paid down $50 million of its debt during the fourth quarter.

As of December 31, 2025, Murphy reported approximately $1.6 billion in liquidity, bolstered by a recently upsized revolving credit facility from $1.35 billion to $2.00 billion. The total debt stood at $1.4 billion with a weighted average coupon of 6.1 percent.

Murphy’s preliminary year-end 2025 proved reserves were recorded at 715 MMBOE, with a reserve replacement ratio of 103 percent. This solid reserve base is expected to support future production growth.

Looking ahead, Murphy Oil has provided guidance for 2026, projecting total net production of 167,000 to 175,000 BOEPD and capital expenditures between $1.2 billion to $1.3 billion. The company plans to allocate significant resources to its offshore operations, particularly in the Gulf of America and Vietnam.

In a move to enhance its exploration portfolio, Murphy signed a Petroleum Agreement for a deepwater block in Morocco, securing a 75 percent working interest. This strategic entry aligns with the company's focus on diversifying its exploration efforts.

Eric M. Hambly, President and CEO of Murphy Oil, expressed optimism regarding the company’s trajectory, stating, “Our accomplishments in 2025 have provided a robust foundation for continued progress in 2026, positioning us to deliver sustainable value through all market cycles.”

As Murphy Oil navigates through 2026, its strong operational results, strategic initiatives, and commitment to shareholder returns demonstrate its resilience and potential for future growth in the evolving energy landscape.

Upcoming Events: Murphy Oil will host a conference call on January 29, 2026, to discuss its fourth quarter and full year 2025 financial results. Investors and analysts are encouraged to participate for insights into the company’s strategic direction and operational performance.