Murphy Oil Corporation (NYSE:MUR) Q3 2023 Earnings Conference Call November 2, 2023 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, Operation
Conference Call Participants
Bert Barnes - Truist
Leo Mariani - ROTH MKM
Charles Meade - Johnson Rice
Operator
Good morning, ladies and gentlemen. Welcome to the Murphy Oil Corporation Third Quarter 2023 Earnings Conference Call and Webcast. [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
Thank you, operator. 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, Operations.
Please refer to the informational slides we 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 discussions of risk factors, please see Murphy's 2022 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 in to our call today. As we turn to slide 3, I'd like to highlight Murphy's strong value proposition. We're a long-term sustainable company with decades of future drilling in our onshore business and significant running room offshore with exploration upside and low carbon intensity.
Offshore Murphy holds a competitive advantage with our execution capabilities. Murphy continues to generate strong cash flow. We've been able to more than double our long-standing dividend since 2021 as well as significantly reduced debt.
Since the end of 2020, we reduced debt by approximately $1.4 billion and paid more than $330 million of dividends. And within the past quarter, we purchased $75 million of stock, all while maintaining our cash balances and replacing reserves.