HOUSTON – Murphy Oil Corp. on Wednesday reported first-quarter net income of $73 million and announced a new offshore oil discovery in Vietnam, along with a $100 million stock repurchase and strategic asset acquisition in the Gulf of Mexico.

The El Dorado-based energy company posted earnings of 50 cents per diluted share for the quarter ending March 31. Excluding discontinued operations and other one-time items, Murphy reported adjusted net income of $81 million, or 56 cents per share.

First-quarter production averaged 157,000 barrels of oil equivalent per day, including 78,500 barrels of oil per day. The company reported adjusted EBITDA of $339 million.

Murphy also repurchased 3.6 million shares during the quarter, totaling $100 million. The company declared a quarterly dividend of 32.5 cents per share, or $1.30 on an annualized basis.

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Oil discovery in Vietnam

A major highlight for the quarter was an oil discovery at the Lac Da Hong-1X (Pink Camel) exploration well in Block 15-1/05 in the Cuu Long Basin offshore Vietnam. The well encountered 106 feet of net oil pay and achieved a flow rate of 2,500 barrels of oil per day. It is the second discovery in the region, following the Hai Su Vang (Golden Sea Lion) find.

Murphy’s subsidiary, Murphy Cuu Long Bac Oil Co., Ltd., operates the block with a 40% interest. PetroVietnam Exploration Production Corp. holds 35%, and SK Earthon Co., Ltd. holds 25%.

Asset acquisition and operational updates

During the quarter, Murphy acquired the BW Pioneer floating production storage and offloading vessel for $104 million. The vessel supports operations in the Gulf of Mexico and is expected to deliver a two-year payback.

In onshore operations, Murphy delivered new wells in the Eagle Ford Shale and Tupper Montney regions. Offshore, the company brought its Mormont #4 well online in the Gulf and completed work on the Samurai #3 well early in the second quarter.

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In Canada, Murphy produced an average of 9,000 barrels of oil equivalent per day, all oil. In Vietnam, construction continued on infrastructure for the Lac Da Vang (Golden Camel) project, which has now surpassed 1 million work hours without a lost time injury.

Guidance and capital spending

Murphy’s first-quarter capital expenditures totaled $403 million, including the FPSO acquisition. Full-year 2025 production is projected between 174,500 and 182,500 barrels of oil equivalent per day, with capital expenditures estimated at $1.135 billion to $1.285 billion.

Winter storm delays in the Gulf of Mexico affected some production timelines, placing output near the lower end of guidance. Second-quarter production is forecast between 177,000 and 185,000 barrels of oil equivalent per day, with 48% from oil.

Capital returns and outlook

Murphy has repaid 35% of its long-term debt, repurchased $550 million in stock, and increased its dividend by 30% since adopting a new capital strategy in 2022. The company plans to continue allocating at least 50% of adjusted free cash flow to shareholder returns through buybacks and dividends.

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Murphy will host its first-quarter earnings call on Thursday, May 8, at 9 a.m. EDT. The webcast will be available at ir.murphyoilcorp.com.

EL DORADO – South Arkansas College has announced its Shining Stars for the month of May, recognizing a group of outstanding students for their academic achievement, leadership, and dedication to excellence in their respective programs.

Emma Bulloch – Radiology

Nominated by Vernita Morgan for her performance in College Algebra (MATH1023), Emma is an online student who demonstrates unwavering dedication to her coursework. She currently holds the highest average in her class and plans to pursue further specialization in CT and MRI scanning. Her goal is to gain experience in the field while making a meaningful impact in the lives of others.

Annalea Elliott – ACAP Program

Recognized by Amanda Moore, Annalea has distinguished herself through academic excellence, leadership, and intellectual curiosity. She consistently excels in her assignments and elevates classroom discussions with thoughtful questions. Known for organizing study groups and supporting her peers, Annalea plans to pursue a career in the healthcare industry.

Abigail Jerry – Practical Nursing

Praised by Angela Roberson, Abigail has maintained an A average throughout all three semesters of her PN cohort. Her strong academic performance and commitment to nursing make her a standout in the program as she prepares to become a licensed practical nurse (LPN).

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Ashley Pascual-Cortez – Practical Nursing

Nominated by Kailyn Loveless and Holly Lawrenz, Ashley is a model nursing student whose organizational skills, positivity, and peer support make her an invaluable asset to her cohort. Her kindness and dedication reflect the true spirit of nursing.

Savannah Pyle – Business

Recognized by Carolyn Langston in Accounting Principles II (ACCT 2103), Savannah exemplifies responsibility and dedication. She commutes from Magnolia to attend classes and maintains excellent attendance, only missing when seriously ill. She also offers help to classmates, reflecting her generous spirit and work ethic.

John Tyler Simonelli – Accounting

Also nominated by Carolyn Langston in Accounting Principles II (ACCT 2103), Tyler is both a top-performing student and an athlete. With plans to complete his bachelor’s degree at Northwestern State and work at Raytheon Intelligence and Space, Tyler’s drive and excellence continue to inspire his peers.

Joseph (J.D.) Zachary – General Business

Another standout from Accounting Principles I (ACCT 2003), J.D. was recognized by Carolyn Langston for his exceptional attitude and academic performance. Always early, cheerful, and supportive, J.D. plans to earn a bachelor’s degree in business, accounting, and finance.

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EL DORADO – Clair Antoon-Newton, an educator at El Dorado High School, has been named the Arkansas Rural Education Association Teacher of the Year for the South Region, a prestigious honor recognizing excellence in rural education.

Antoon-Newton will be formally recognized at a statewide ceremony in July, where she will receive the Crystal Apple Award and a $1,000 check, sponsored by the Electric Cooperatives of Arkansas.

The award comes during Teacher Appreciation Month, adding meaningful significance to the recognition. The Arkansas Rural Education Association’s Teacher of the Year program highlights outstanding teachers who make a lasting impact in rural communities through innovative instruction, leadership, and dedication to students.

El Dorado School District officials praised Antoon-Newton for her commitment to academic excellence and for being a role model both in and out of the classroom. Her recognition reflects not only her personal accomplishments but also the strength of rural education in South Arkansas.

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The July ceremony will bring together honorees from across the state to celebrate the role of educators in shaping the future of Arkansas’s rural communities.

SMACKOVER – Smackover High School will celebrate the Class of 2025 with a full day of Senior Day and graduation activities on Monday, May 19, 2025, culminating in a formal commencement ceremony at Buckaroo Stadium that evening.

The day begins at 9:00 a.m. with the Senior Day Awards Program at Hobgood Auditorium, where senior awards and recognitions will be announced. A graduation rehearsal will follow the awards program.

At 11:00 a.m., students and families are invited to a Senior Reception at Smackover First United Methodist Church, located just across the street from the high school.

Later in the day, individual graduation pictures will be taken at 6:00 p.m. in Hobgood Auditorium.

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The graduation ceremony itself will begin at 8:00 p.m. at Buckaroo Stadium. Stadium gates open at 7:15 p.m., and the event will also be livestreamed for those who cannot attend in person.

School officials encourage the community to come out and support the graduates as they take this significant step toward their future.