Murphy Oil reports Q1 adjusted EPS 56c, consensus 49c

Reports Q1 revenue $665.7M, consensus $668.86M. “I am excited to announce today an oil discovery at the Lac Da Hong-1X well, which is the second discovery in our current Vietnam exploration program. This discovery enhances the value of Murphy’s growing Vietnam business when coupled with our nearby Lac Da Vang (Golden Camel) development and our recent Hai Su Vang discovery. We also recently announced the acquisition of an FPSO in the Gulf of America, which leads to a direct cost reduction with a two-year payback,” said Eric M. Hambly, President and Chief Executive Officer. “Looking forward, we remain focused on progressing our onshore, Gulf of America and Vietnam development plans, creating additional value to generate excess cash flow for further shareholder returns.”