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Murphy Oil to Gain From Upstream Portfolio & Investments
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We issued an updated research report on Murphy Oil Corporation (MUR - Free Report) . The company explores and produces crude oil, natural gas and natural gas liquids (NGL) worldwide. The company is currently transforming itself into an organization that will primarily engage in oil as well as gas exploration and production (E&P) activities from an integrated oil company.
What’s Driving the Stock?
Murphy Oil possesses one of the best upstream portfolios among the domestic oil and natural gas integrated companies as well as independent E&P group. The company is pursuing steady E&P and development activities in the United States and other international locations.
The company expects to spend $1,179 million in 2018, up from $975.7 million in 2017. For 2018, the company has allocated $725 million for onshore assets, $280 million toward offshore assets and $130 million on exploration. The company raised production guidance for 2018 in the range of 168,500-170,500 boe/d. It also expects 2018 capital expenditure budget to be $1.18 billion as the ongoing expenditure has a positive impact on production levels.
Murphy’s onshore business is improving consistently as the Kaybob Duvernay continues to exceed expectations with production increases of more than 100% year over year as well as achieving record low drilling and completion costs. The company allocated additional $50 million to Kaybob Duvernay for new wells and required infrastructure.
Murphy Oil’s North American onshore assets and development of offshore assets will further boost production. In addition, the offshore assets in the Gulf of Mexico and Malaysia will continue to enhance production. The consistent performance of the company enabled it to reward shareholders through regular dividend payments.
In the last four quarters, Murphy Oil reported an average earnings surprise of 96.50% and is expected to release third-quarter earnings on Nov 7, 2018. Other companies from the same industry include Penn Virginia Corporation ,Anadarko Petroleum andApache Corporation (APA - Free Report) , which have delivered positive earnings surprise of 14.96%, 118.36% and 75.77% in the past four quarters, respectively. Penn Virginia is expected to release third-quarter results on Nov 14. Anadarko Petroleum is expected to release third-quarter earnings on Oct 30. Apache is expected to release third-quarter earnings on Oct 31.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Murphy Oil to Gain From Upstream Portfolio & Investments
We issued an updated research report on Murphy Oil Corporation (MUR - Free Report) . The company explores and produces crude oil, natural gas and natural gas liquids (NGL) worldwide. The company is currently transforming itself into an organization that will primarily engage in oil as well as gas exploration and production (E&P) activities from an integrated oil company.
What’s Driving the Stock?
Murphy Oil possesses one of the best upstream portfolios among the domestic oil and natural gas integrated companies as well as independent E&P group. The company is pursuing steady E&P and development activities in the United States and other international locations.
The company expects to spend $1,179 million in 2018, up from $975.7 million in 2017. For 2018, the company has allocated $725 million for onshore assets, $280 million toward offshore assets and $130 million on exploration. The company raised production guidance for 2018 in the range of 168,500-170,500 boe/d. It also expects 2018 capital expenditure budget to be $1.18 billion as the ongoing expenditure has a positive impact on production levels.
Murphy’s onshore business is improving consistently as the Kaybob Duvernay continues to exceed expectations with production increases of more than 100% year over year as well as achieving record low drilling and completion costs. The company allocated additional $50 million to Kaybob Duvernay for new wells and required infrastructure.
Murphy Oil’s North American onshore assets and development of offshore assets will further boost production. In addition, the offshore assets in the Gulf of Mexico and Malaysia will continue to enhance production. The consistent performance of the company enabled it to reward shareholders through regular dividend payments.
In the last four quarters, Murphy Oil reported an average earnings surprise of 96.50% and is expected to release third-quarter earnings on Nov 7, 2018. Other companies from the same industry include Penn Virginia Corporation ,Anadarko Petroleum andApache Corporation (APA - Free Report) , which have delivered positive earnings surprise of 14.96%, 118.36% and 75.77% in the past four quarters, respectively. Penn Virginia is expected to release third-quarter results on Nov 14. Anadarko Petroleum is expected to release third-quarter earnings on Oct 30. Apache is expected to release third-quarter earnings on Oct 31.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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