MUR - Murphy Oil Targets Significant Production Growth This Year
Midsized oil & gas player Murphy Oil Corporation (NYSE:MUR) reported earnings last week that provided the market with a much better picture of how management plans to navigate volatile oil markets this year. As things stand today, Murphy Oil Corporation increased its 2019 capital expenditure budget in order to boost its upstream production by 20% on an annual basis. That program includes ramping up development of its unconventional Eagle Ford position as short-cycle investment opportunities offer near-term growth catalysts. Let’s dig in.
Better debt coverage
Murphy Oil grew its adjusted EBITDA by 28%