Murphy Oil Corporation announced net income attributable to Murphy of $139 million, or $0.93 per diluted share, for the third quarter ended September 30, 2024. Adjusted net income was $111 million, or $0.74 per diluted share.
Total production averaged 185 thousand barrels of oil equivalent per day (MBOEPD), with onshore production exceeding guidance by approximately 2.1 MBOEPD due to stronger well performance in Tupper Montney. This was partially offset by 1.4 MBOEPD of unplanned downtime in the Gulf of Mexico and 1.7 MBOEPD at non-operated Terra Nova.
The company repurchased $194 million of stock in Q3, totaling $300 million for the first nine months of 2024, with $650 million remaining under its authorization. Murphy maintained its 2024 accrued capital expenditure guidance of $920 million to $1.02 billion, but tightened its full-year production range to 180 to 182 MBOEPD, anticipating results at the lower end due to operational impacts.
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