Murphy Oil Corporation

What Murphy Oil Corporation does

Murphy Oil Corporation is an independent oil and natural gas exploration and production company headquartered in Houston, Texas, and listed on the NYSE under ticker MUR. The company was founded in 1905 by Charles Haywood Murphy, Sr., incorporated as Murphy Corporation in Louisiana in 1950, went public in 1956, and reincorporated in Delaware as Murphy Oil Corporation in 1964. Following the 2011 divestiture of its downstream refining and retail businesses (Murphy USA), Murphy repositioned as a focused independent E&P with a diversified multi-basin portfolio spanning the US Gulf of America (via 80%-owned MP Gulf of Mexico, LLC), the Eagle Ford Shale in south Texas (~120,000 gross acres), the Kaybob Duvernay and Tupper Montney plays in western Canada (~230,000 gross acres combined), offshore Newfoundland, Vietnam (~7.95 million gross acres across the Phu Khanh and Cuu Long basins including the Hai Su Vang discovery with resources exceeding 430 MMBOE), Côte d'Ivoire (~1.5 million gross acres across five Tano Basin blocks), and Brazil (Sergipe-Alagoas and Potiguar basins).

The company operates deepwater offshore assets using drillships, semisubmersibles, and floating production systems, onshore assets using hydraulic fracturing and conventional production techniques, and manages international operations under Production Sharing Contract (PSC) structures in Vietnam. Proved reserves stood at 713 mmboe at year-end 2024, and Q1 2026 production of 174,200 BOEPD exceeded company guidance. Capital expenditure guidance for 2026 is maintained at $1.2-$1.3 billion, supporting active development of the Lac Da Vang field in Vietnam (first oil targeted Q4 2026), the String Music project in the US Gulf of Mexico (Subsea 7 EPCI contract awarded June 2026), and ongoing Côte d'Ivoire exploration with partner PETROCI.

Revenue is generated through the sale of crude oil to refineries and natural gas to end users via a combination of long-term contracts and spot market transactions, with crude and gas priced at prevailing market rates. Approximately 50% of 2026 production is unhedged, exposing results to oil price volatility. Q1 2026 revenue of $733.6 million was up 10.2% year-over-year, and FY2025 annual revenue was approximately $2.72 billion. The company is led by President and CEO Eric M. Hambly (assumed role in 2025) and EVP/CFO Thomas J. Mireles, with the founding Murphy family maintaining board representation through R. Madison Murphy.

Name

Murphy Oil Corporation

Legal name

Murphy Oil Corporation

Website

https://murphyoilcorp.com

Company type

Public

Founded year

1905

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Murphy Oil Corporation is an independent oil and natural gas exploration and production company operating a diversified multi-basin portfolio across the US, Canada, Vietnam, Côte d'Ivoire, and Brazil, selling crude oil and natural gas to refineries and end users.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration & Production

NAICS

Oil and Gas Extraction (211), Crude Petroleum Extraction (211120), Natural Gas Extraction (21113), Oil and Gas Extraction (2111)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Drilling & Well Construction (E&P Operator-led) (EUALAAAD)

akta.pro secondary industries

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF), Unconventional Resources Development (Shale/Tight, CBM) (EUALAAAH), Well Completions & Stimulation (Hydraulic Fracturing, Sand Control) (EUALAAAE)

Keywords

• Oil and gas exploration
• Crude oil production
• Natural gas production
• Offshore deepwater drilling
• Upstream energy operations

Headquarters

HQ city

Plainview

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Oil and Natural Gas Production: Murphy Oil generates revenue through the sale of crude oil and natural gas produced from its diversified portfolio of onshore and offshore assets. The company sells hydrocarbons to refineries and natural gas to end users. Revenue is commodity price-dependent with approximately 50% of 2026 production unhedged, exposing the company to oil price movements.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Murphy Oil Corporation is an independent energy company engaged in the exploration and production of crude oil and natural gas. The company operates a diversified portfolio of onshore (Eagle Ford Shale, Kaybob Duvernay, Tupper Montney) and offshore (Gulf of America, Offshore Canada, Vietnam, Côte d'Ivoire, Brazil) assets, selling its hydrocarbon production to refineries and natural gas end users via long-term contracts and spot market transactions.

Product overview

Murphy Oil Corporation is an independent energy company focused on oil and natural gas production and exploration, operating a diversified portfolio of producing assets and exploration prospects across North America (Gulf of America, Eagle Ford Shale, Kaybob Duvernay, Tupper Montney, Offshore Canada) and internationally (Vietnam, Côte d'Ivoire, Brazil). The company operates using deepwater offshore platforms, floating production systems, onshore rigs, and conventional production technologies. Key producing assets include the Gulf of America deepwater operations (via MP Gulf of Mexico LLC), Eagle Ford Shale onshore properties, Canadian natural gas assets, and international exploration blocks in Vietnam's Cuu Long and Phu Khanh Basins. The company does not operate a software product or SaaS platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Gulf of America Operations Oil and natural gas production from operated and non-operated deepwater fields in the Gulf of America, serving refineries and natural gas end users.
• Eagle Ford Shale Onshore unconventional oil and natural gas production from the Eagle Ford Shale in south Texas, operated by Murphy across three fields.
• Kaybob Duvernay Onshore oil and natural gas production from the Kaybob Duvernay play in Alberta, Canada.
• Tupper Montney Onshore natural gas production from the Tupper Montney acreage in the Western Canadian Sedimentary Basin in British Columbia.
• Offshore Canada Offshore oil production from Hibernia and Terra Nova fields in the Jeanne d'Arc Basin, offshore Newfoundland, Canada.
• Vietnam Operations Deepwater offshore oil and natural gas production and exploration in Vietnam, including the Lac Da Vang development and Hai Su Vang discovery, operated under Production Sharing Contract (PSC) structures.
• Côte d'Ivoire Exploration Exploration and appraisal of oil discoveries in the Tano Basin offshore Côte d'Ivoire, including the Bubale-1X discovery.
• Potiguar Basin Exploration of oil prospects in the Potiguar Basin offshore Brazil, near the Pitu discovery.

Quantifiable outcome

• Q1 2026 production of 174,200 BOEPD exceeded guidance
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered major and core.

• Yinson ProductionmajorOEM/ Whitelabel/ Licensing Partner · 23 June 2026Yinson Production built and operates the FSO PTSC Lac Da Vang floating storage and offloading unit for Murphy's Lac Da Vang oil field offshore Vietnam. The vessel has 500,000 barrel storage capacity and dual-fuel systems, under a 10-year firm contract with Murphy Cuu Long Bac Oil (a Murphy subsidiary). Operations expected to commence Q4 2026.
• PETROCIcoreStrategic or Co-development Partner · 22 June 2026PETROCI holds a 10% working interest in Murphy's Côte d'Ivoire exploration blocks (CI-709, CI-102, CI-502). Murphy operates with 85-90% working interest across five blocks spanning approximately 1.5 million gross acres in the Tano Basin. The partnership includes the Bubale-1X discovery and plans for further appraisal drilling.
• Subsea 7majorImplementation/ SI/ Consulting Partner · 2 June 2026Subsea 7 was awarded a contract (sized $50-150 million) by Murphy Exploration & Production Company for the String Music development in the US Gulf of Mexico. The project involves engineering, procurement, construction, and offshore installation of a production flowline and related subsea infrastructure tied to the Delta House development in Mississippi Canyon 431 at water depths up to 1,850 metres.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• EOG Resources: EOG Resources is a US-focused independent E&P operating unconventional and offshore assets globally. Closely comparable to Murphy Oil in business model (independent operator-led E&P) and asset mix (US shale plus international), though EOG is materially larger.
• Devon Energy: Devon Energy is an independent E&P with a diversified US onshore portfolio across the Delaware, Eagle Ford, Williston, and Anadarko basins, plus Barnett natural gas. Comparable in scale and as a US-focused E&P operating unconventional assets; less offshore exposure than Murphy.
• Diamondback Energy: Diamondback Energy is a Permian Basin-focused independent E&P with a similar operational profile to Murphy's onshore US business. Comparable in scale and pure-play E&P model, though concentrated in one basin rather than diversified.
• APA Corporation: APA Corporation (formerly Apache) is an independent E&P with US onshore unconventional assets and international operations including Egypt and the North Sea. Highly comparable to Murphy Oil in diversification across US unconventional plus international frontier exposure.
• Coterra Energy: Coterra Energy is an independent E&P with diversified assets in the Permian Basin, Marcellus Shale, and Anadarko Basin. Comparable to Murphy as a diversified independent E&P operator, though with a more US-centric footprint.
• Ovintiv: Ovintiv is an independent E&P operating the Permian, Montney, Duvernay, and Bakken plays with a similar unconventional-onshore asset profile to Murphy's Canadian Kaybob Duvernay, Tupper Montney, and US Eagle Ford holdings.
• Hess Corporation: Hess was an independent E&P with US unconventional assets and major international operations including Guyana (Stabroek block) and Malaysia. Closely comparable to Murphy Oil in the international offshore deepwater thesis, though with a much larger Guyana resource position.
• VAALCO Energy: VAALCO Energy is an independent E&P focused on West Africa (Gabon, Equatorial Guinea, Côte d'Ivoire). Comparable to Murphy for its Côte d'Ivoire Tano Basin acreage and West Africa frontier exploration profile, though VAALCO is significantly smaller.

Regional players

• PTT Exploration and Production (PTTEP): PTTEP is Thailand's national E&P company with significant Southeast Asia offshore operations including Vietnam-adjacent blocks. Comparable to Murphy for its Southeast Asia deepwater offshore expertise and PSC-based international business model.

Emerging players

• Hibiscus Petroleum: Hibiscus Petroleum is a Malaysia-based independent E&P with operating assets in the UK North Sea, Malaysia, Vietnam, and Australia. Comparable to Murphy in the Asia-Pacific and frontier exploration profile, though materially smaller in scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC9DQaDYsf7givyMeijZVdoQ
• LinkedInlinkedin.com/company/murphy-oil

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries4 records

Funding overview

Funding rounds3 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Murphy Oil Corporation