Murphy Oil Q2 net income $128M ($0.83/diluted); revised capital framework accelerates buybacks

MURPHY OIL CORP

2024-Q2 EPS reported $1.42 revenue$1,599,183,000

Q2 adjusted net income $124M ($0.81/diluted); production 181 MBOEPD (91 MBOPD oil).
Repurchased $56M of stock and $50M of senior notes in Q2; $44M more repurchased post-Q2.
Board increased share repurchase authorization by $500M to $800M remaining.
Revised capital allocation (Murphy 3.0) allocates min 50% of adjusted FCF to shareholder returns, primarily buybacks.
Maintained 2024 production guidance 180-188 MBOEPD (lower end) and CAPEX $920M-$1.02B.

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