Murphy Oil Sets 3Q and Full-Year 2026 Guidance Ahead of Barclays Conference
MUR sits 52% above its 52-week low of $24.8.
Summary
Murphy Oil furnished an investor presentation with 3Q 2026 guidance of 171,000-179,000 BOEPD production and $380-$460 million CAPEX, plus full-year 2026 guidance of 167,000-175,000 BOEPD and $1.5-$1.6 billion CAPEX. The presentation confirms Lac Da Vang remains on track for first oil in 4Q 2026.
Key Events · Earnings and Guidance · MUR
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3Q 2026 Guidance Issued
For 3Q 2026, production guidance is 171,000-179,000 BOEPD, CAPEX is $380-$460 million, and exploration expense is $135 million.
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Full-Year 2026 Guidance Reaffirmed
Full-year production is expected at 167,000-175,000 BOEPD, with CAPEX of $1.5-$1.6 billion and exploration expense of $300 million.
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Lac Da Vang First Oil on Track
Lac Da Vang (Golden Camel) remains on schedule for first oil in 4Q 2026, with FSO installation planned for 3Q 2026.
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Bubale West-1X Appraisal Well Spud
The appraisal well was spud subsequent to quarter end, targeting the Turonian reservoir, with an expected cost of $90 million over 90-120 days.
Analysis · MUR · Energy & Transportation
Ahead of the Barclays Energy-Power Conference, Murphy Oil furnished an investor presentation that lays out specific 3Q 2026 production and capital expenditure guidance, along with full-year 2026 targets. For the third quarter, the company expects production of 171,000-179,000 BOEPD and CAPEX of $380-$460 million; for the full year, production of 167,000-175,000 BOEPD and CAPEX of $1.5-$1.6 billion. The presentation also confirms that Lac Da Vang remains on track for first oil in 4Q 2026 and provides updates on exploration activities, including the Bubale West-1X appraisal well. These quarterly guidance figures are being disclosed for the first time, giving investors concrete operational targets for the remainder of 2026.
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At the time of this filing, MUR was trading at $37.58 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $24.80 to $43.34. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.