Murphy Oil — May 7, 2025 release

Kaybob Duvernay – Production averaged 4 MBOEPD with 58 percent oil volumes and 71 percent liquids volumes in the first quarter. Murphy progressed its well delivery program during the quarter and remains on track to bring four operated wells online in the third quarter. OFFSHORE OPERATIONS SUMMARY Excluding NCI, in the first quarter of 2025, the offshore business produced approximately 71 MBOEPD, which included 83 percent oil. Gulf of America – Production averaged approximately 62 MBOEPD, consisting of 81 percent oil during the first quarter. As planned, Murphy brought online the Mormont #4 (Green Canyon 478) well during the quarter and progressed the Samurai #3 (Green Canyon 432) workover, which was brought online early in the second quarter. As previously announced, Murphy acquired the BW Pioneer FPSO from BW Offshore for $104 million net purchase price. The FPSO will remain at its current location, supporting operations at the Cascade and Chinook fields (Walker Ridge 206, 250, 425 and 469) in the Gulf of America. BW Offshore will continue to provide operations and maintenance services under a new five-year contract. Canada – In the first quarter, production averaged 9 MBOEPD, consisting of 100 percent oil. Vietnam – During the first quarter, Murphy initiated construction of the floating storage and offloading vessel for the Lac Da Vang (Golden Camel) field development project. Additionally, early in the second quarter, Murphy achieved the sig