Murphy Oil Corporation (NYSE:MUR) Q4 2022 Earnings Conference Call January 26, 2022 9:00 AM ET

Company Participants

Kelly Whitley - Vice President, Investor Relations & Communications

Roger Jenkins - President & Chief Executive Officer

Tom Mireles - Executive Vice President & Chief Financial Officer

Eric Hambly - Executive Vice President of Operations

Conference Call Participants

Arun Jayaram - JPMorgan

Charles Meade - Johnson Rice

Leo Mariani - MKM

Paul Cheng - Scotiabank

Neal Dingmann - Truist Securities

Neil Mehta - Goldman Sachs

Operator

Good morning, ladies and gentlemen, and welcome to the Murphy Oil Corporation Fourth Quarter 2022 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Kelly Whitley, Vice President, Investor Relations and Communications. Please go ahead.

Kelly Whitley

Good morning, everyone, and thank you for joining us on our fourth quarter earnings call today. Joining me is Roger Jenkins, President and Chief Executive Officer; along with Tom Mireles, Executive Vice President and Chief Financial Officer; and Eric Hambly, Executive Vice President of Operations.

Please refer to the informational slides we have placed on the Investor Relations section of our website as you follow along with our webcast today. Throughout today's call, production numbers, reserves and financial amounts are adjusted to exclude noncontrolling interest in the Gulf of Mexico. Slide 1; please keep in mind that some of the comments made during this call will be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. As such, no assurances can be given that these events will occur or that projections will be attained. A variety of factors exist that may cause actual results to differ. For further discussions of risk factors, see Murphy's 2001 annual report on Form 10-K on file with the SEC. Murphy takes no duty to publicly update or revise any forward-looking statements.

I will now turn the call over to Roger Jenkins.

Roger Jenkins

Thank you, Kelly. Good morning, everyone, and thank you for listening to our call today.

On Slide 2, Murphy continues to deliver a strong value proposition, our ongoing execution excepts, especially in our oil-weighted assets, ensures that we remain a long-term sustainable company. We operate safely with a focus on continual improvement in our carbon emissions intensity. Our offshore competitive advantage is reinforced with our significant recent project success at our Khaleesi, Mormont, Samurai fields in the Gulf of Mexico. Murphy has an ongoing exploration portfolio, and we're in the process of a 3-well operated program in 2023. We continue to generate strong cash flow and we've been able to more than double our long-standing dividend from 2021, all while significantly reducing debt. As a result of this success, we're progressing our capital allocation framework, where we will support increasing returns to shareholders as various debt targets are reached.