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v3.25.1

Revenue from Contracts with Customers (Tables) | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The Company’s revenues and other income for the three-month periods ended March 31, 2025 and 2024 were as follows.
|  |  |  | Three Months Ended March 31,
(Thousands of dollars) |  |  |  |  |  | 2025 |  | 2024
Net crude oil and condensate revenue |  |  |  |  |  |  |
United States - Onshore |  |  |  |  | $ | 109,458 |  |  | $ | 142,543 |
United States - Offshore 1 |  |  |  |  | 352,362 |  |  | 480,439 |
Canada - Onshore |  |  |  |  | 14,730 |  |  | 13,873 |
Canada - Offshore |  |  |  |  | 74,469 |  |  | 54,775 |
Other |  |  |  |  | — |  |  | (98) |
Total crude oil and condensate revenue |  |  |  |  | 551,019 |  |  | 691,532 |
Net natural gas liquids revenue |  |  |  |  |  |  |
United States - Onshore |  |  |  |  | 8,487 |  |  | 7,836 |
United States - Offshore 1 |  |  |  |  | 9,249 |  |  | 10,374 |
Canada - Onshore |  |  |  |  | 1,747 |  |  | 1,437 |
Total natural gas liquids revenue |  |  |  |  | 19,483 |  |  | 19,647 |
Net natural gas revenue |  |  |  |  |  |  |
United States - Onshore |  |  |  |  | 7,967 |  |  | 4,276 |
United States - Offshore 1 |  |  |  |  | 19,941 |  |  | 12,889 |
Canada - Onshore |  |  |  |  | 74,320 |  |  | 66,259 |
Total natural gas revenue |  |  |  |  | 102,228 |  |  | 83,424 |
Revenue from production |  |  |  |  | 672,730 |  |  | 794,603 |
Sales of purchased natural gas 2 |  |  |  |  |  |  |
Canada - Onshore |  |  |  |  | — |  |  | 245 |
Total sales of purchased natural gas |  |  |  |  | — |  |  | 245 |
Total revenue from sales to customers |  |  |  |  | 672,730 |  |  | 794,848 |
(Loss) on derivative instruments |  |  |  |  | (9,459) |  |  | — |
Gain on sale of assets and other operating income |  |  |  |  | 2,440 |  |  | 1,564 |
Total revenues and other income |  |  |  |  | $ | 665,711 |  |  | $ | 796,412 |
1 Includes revenue attributable to noncontrolling interest in MP GOM. 2 Purchases of natural gas are reported on a gross basis when Murphy takes control of the product and has risks and rewards of ownership. Sales of purchased natural gas are reported when the contractual performance obligations are satisfied. This occurs at the time the product is delivered to a third-party purchaser at the contractually determinable price.
Schedule of Current Long-Term Contracts Outstanding | As of March 31, 2025, the Company had the following sales contracts in place which are expected to generate revenue from sales to customers for a period over 12 months starting at the inception of the contract:
Location |  | Commodity |  | End Date |  | Description |  | Approximate Volumes
U.S. |  | Natural Gas and NGLs |  | Q2 2030 |  | Deliveries from dedicated acreage in Eagle Ford Shale |  | As produced
Canada |  | Natural Gas |  | Q4 2025 |  | Contracts to sell natural gas at USD index pricing |  | 25 MMCFD
Canada |  | Natural Gas |  | Q4 2026 |  | Contracts to sell natural gas at USD index pricing |  | 49 MMCFD
Canada |  | Natural Gas |  | Q4 2027 |  | Contracts to sell natural gas at USD index pricing |  | 30 MMCFD
Canada |  | Natural Gas |  | Q4 2028 |  | Contracts to sell natural gas at USD index pricing |  | 10 MMCFD
Canada |  | Natural Gas |  | Q4 2025 |  | Contracts to sell natural gas at CAD fixed pricing |  | 40 MMCFD
Canada |  | Natural Gas |  | Q4 2026 |  | Contracts to sell natural gas at CAD fixed pricing |  | 50 MMCFD
Canada |  | NGLs |  | Q2 2025 |  | Contracts to sell NGLs at CAD index pricing |  | As produced

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(1) -SubTopic 10 -Topic 606 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 + Details
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