Murphy Oil Corporation (NYSE:MUR) Q3 2022 Earnings Conference Call November 3, 2022 10:00 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, Operations

Conference Call Participants

Neal Dingmann - Truist Securities

Leo Mariani - MKM

Paul Cheng - Scotiabank

Charles Meade - Johnson Rice

Operator

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

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

Kelly Whitley

Thank you David. Good morning, everyone and thank you for joining us on our third quarter earnings call today. Joining us 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 information on slides that 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 non-controlling interest in the Gulf of Mexico.

Slide one. 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 the projections will be attained, a variety of factors exist that may cause actual results to differ. For further discussion of risk factors, see Murphy's 2021 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. Good morning everyone. On top of an excellent quarter both operationally and financially with consensus beats across the board, Murphy continues to deliver a strong value proposition. Our ongoing execution excellence especially in our oil-weighted assets ensures that we remain a long-term sustainable company as we operate safely and with focus on continual improvement in our carbon emissions intensity.

Offshore competitive advantages reinforced with significant project success especially with the achievements of the Khaleesi, Mormont, Samurai field development flowing to the King's Quay floating production system. Murphy has unique exploration portfolio as we prepare to drill two key wells this quarter. We're generating strong cash flows with higher oil prices and well performance exceeding expectations as we have been able to increase our shareholder returns through quarterly dividend raises, as well as accelerate our debt reduction goals.