Murphy Oil Corporation announced net income attributable to Murphy of $73 million, or $0.50 per diluted share, for the first quarter ended March 31, 2025. Adjusted net income was $81 million, or $0.56 per diluted share.
The company reported an oil discovery at the Lac Da Hong-1X (Pink Camel) exploration well in offshore Vietnam, encountering 106 feet of net oil pay with a maximum flow rate of 2,500 BOPD. This is the second discovery in its current Vietnam exploration program.
First quarter production averaged 157 thousand barrels of oil equivalent per day (MBOEPD), impacted by 6 MBOEPD of downtime from non-operated Gulf of America issues, offshore Canada logistics, and winter storm delays. Murphy reaffirmed its full-year 2025 capital expenditure guidance of $1,135 million to $1,285 million, but anticipates full-year production to be towards the lower end of its 174.5 to 182.5 MBOEPD range due to Q1 impacts.
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