Murphy Oil Corporation (NYSE:MUR) Q2 2022 Earnings Conference Call August 4, 2022 9:00 AM ET

Company Participants

Kelly Whitley - VP, IR and Communications

Roger Jenkins - President and CEO

Tom Mireles - EVP and CFO

Eric Hambly - EVP, Operations

Conference Call Participants

Paul Cheng - Scotia Bank

Leo Mariani - MKM Partners

Neal Dingmann - Truist Securities

Roger Read - Wells Fargo

Arun Jayaram - JPMorgan

Paul Cheng - Scotiabank

Operator

Good morning ladies and gentlemen, and welcome to the Murphy Oil Corporation Second 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 second 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. 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.

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 excellence from our three producing areas, proves that we are long-term sustainable company. As we disclosed in our 2022 sustainability report released yesterday significant improvements and emissions intensity in water recycling. Excuse me.

Our offshore competitive advantages continually reinforced most recently with the achievement of first oil ahead of schedule from Khaleesi, Mormont, Samurai and King's Quay projects in April. We continue to generate strong cash flow with higher oil prices and well performance exceeding expectations as we've been able to increase our shareholder returns through quarterly dividend raises as well as accelerate our debt reduction goals.