Murphy Oil Q3 adjusted EBITDA beats estimates
MUR•Murphy Oil reported Q3 adjusted EBITDA of $511 million, above the $488.57 million analyst consensus, and net income of $171 million. It expects Q4 production of 174,000 to 182,000 BOEPD and raised 2026 production guidance to 176,000-178,000 BOEPD while maintaining its $1.55 billion midpoint capital spending guidance.
1. Quarterly results
Murphy Oil's Q3 adjusted EBITDA was $511 million, beating the $488.57 million consensus estimate from 10 analysts. Net income was $171 million, and production exceeded guidance.
2. Production outlook
The company expects Q4 production of 174,000 to 182,000 BOEPD. Murphy Oil raised its 2026 production guidance to 176,000-178,000 BOEPD and maintained capital expenditure guidance at a $1.55 billion midpoint.
3. Operational drivers
Murphy Oil attributed the Q3 production outperformance to accelerated Eagle Ford well completions, strong well performance and lower royalties in Tupper Montney, and minimal storm downtime. It also reported first oil at Lac Da Vang in Vietnam and brought Chinook #8 online in the Gulf of America.
