News
Murphy Oil Announces Fourth Quarter Financial Results

HOUSTON – Murphy Oil Corporation (NYSE: MUR) today announced its financial and operating results for the fourth quarter ended December 31, 2024, including net income attributable to Murphy of $50 million, or $0.34 net income per diluted share. Excluding discontinued operations and other items affecting comparability between periods, adjusted net income attributable to Murphy was $51 million, or $0.35 adjusted net income per diluted share.
For full year 2024, the company recorded net income attributable to Murphy of $407 million, or $2.70 net income per diluted share. Murphy reported adjusted net income, which excludes both the results of discontinued operations and other items affecting comparability between periods, of $417 million, or $2.76 adjusted net income per diluted share.
Unless otherwise noted, the financial and operating highlights and metrics discussed in this commentary exclude noncontrolling interest (NCI). 1
Highlights for the fourth quarter include:
- Drilled an oil discovery at Hai Su Vang-1X in offshore Vietnam and encountered approximately 370 feet of net oil pay from two reservoirs
- Commenced LDV-A platform construction and executed the contract for the floating storage and offloading vessel for the Lac Da Vang field development project in Vietnam
- Upsized new five-year senior unsecured credit facility to $1.35 billion, significantly enhancing liquidity with a nearly 70 percent increase from previous facility
- Issued $600 million aggregate principal amount of 6.000 percent senior notes due 2032, and redeemed a total $600 million of senior notes due 2027, 2028 and 2029
- Recorded lowest net debt in over a decade at approximately $850 million
- Completed seismic reprocessing for Côte d’Ivoire
Highlights for full year 2024 include:
- Achieved lowest Total Recordable Incident Rate since 2016
- Entered Murphy 3.0 of capital allocation framework, repurchased $300 million of stock or 8.0 million shares, and repurchased $50 million of senior notes
- Recorded lowest annual selling and general expense since 2002 at $108 million
- Achieved record high peak gross production rate of 496 million cubic feet per day (MMCFD) in Tupper Montney, effectively reaching processing plant capacity
- Drilled a discovery at the non-operated Ocotillo #1 exploration well in Mississippi Canyon 40 in the Gulf of Mexico
- Awarded six deepwater blocks from Gulf of Mexico Federal Lease Sale 261
Subsequent to the fourth quarter:
- Announced an additional 8 percent increase of the quarterly cash dividend to $0.325 per share, or $1.30 per share annualized for 2025
“I am pleased that in 2024, we continued to focus on our priorities of Delever, Execute, Explore and Return. As a result, we achieved Murphy 3.0 of our capital allocation framework, strengthened our balance sheet, increased our liquidity, made two impactful discoveries and advanced our Lac Da Vang field development project in Vietnam,” said Eric M. Hambly, President and Chief Executive Officer. “Our discoveries at Hai Su Vang-1X in Vietnam and non-operated Ocotillo #1 in the Gulf of Mexico demonstrate our commitment to organically creating shareholder value and increasing our resource potential. These opportunities, alongside our existing portfolio, provide multi-basin optionality as we strive to remain an industry leader for decades to come. In 2025, we are looking forward to drilling multiple exploration prospects in the Gulf of Mexico, Vietnam and Côte d’Ivoire, and continually rewarding shareholders with our long-standing dividend and further share repurchases.”
FOURTH QUARTER 2024 RESULTS
The company recorded net income attributable to Murphy of $50 million, or $0.34 net income per diluted share, for the fourth quarter 2024. Adjusted net income, which excludes both the results of discontinued operations and certain other items that affect comparability of results between periods, was $51 million, or $0.35 per diluted share for the same period. Details for fourth quarter results and an adjusted net income reconciliation can be found in the attached schedules.
Earnings before interest, taxes, depreciation and amortization (EBITDA) attributable to Murphy were $315 million. Earnings before interest, tax, depreciation, amortization and exploration expenses (EBITDAX) attributable to Murphy were $330 million. Adjusted EBITDA attributable to Murphy was $321 million. Adjusted EBITDAX attributable to Murphy was $337 million. Reconciliations for fourth quarter EBITDA, EBITDAX, adjusted EBITDA and adjusted EBITDAX can be found in the attached schedules.
Fourth quarter production averaged 175 thousand barrels of oil equivalent per day (MBOEPD), which included 85 thousand barrels of oil per day (MBOPD). Production impacts of 10.8 MBOEPD were mostly attributed to:
- 5.6 MBOEPD of unplanned downtime across operated assets, including 1.8 MBOEPD due to a mechanical issue at a Khaleesi well, 1.4 MBOEPD for an offshore rig delay for the Samurai #3 well workover in the Gulf of Mexico, and 2.4 MBOEPD for other onshore and offshore assets;
- 2.8 MBOEPD of unplanned downtime across non-operated assets, including 2.4 MBOEPD for offshore weather impacts;
- 1.9 MBOEPD of lower performance as a result of a revised Eagle Ford Shale completion design on a four-well Catarina pad that was less successful than anticipated; and
- 0.5 MBOEPD due to a timing delay in the Mormont #4 (Green Canyon 478) well as a result of evaluating and completing additional pay.
Accrued capital expenditures (CAPEX) for fourth quarter 2024 totaled $186 million, excluding NCI. Details for fourth quarter production and CAPEX can be found in the attached schedules.
FULL YEAR 2024 RESULTS
The company recorded net income attributable to Murphy of $407 million, or $2.70 net income per diluted share, for full year 2024. Adjusted net income, which excludes both the results of discontinued operations and certain other items that affect comparability of results between periods, was $417 million, or $2.76 per diluted share for the same period. Details for full year 2024 results and an adjusted net income reconciliation can be found in the attached schedules.
EBITDA attributable to Murphy was $1.4 billion. EBITDAX attributable to Murphy was $1.6 billion. Adjusted EBITDA attributable to Murphy was $1.5 billion. Adjusted EBITDAX attributable to Murphy was $1.6 billion. Reconciliations for full year 2024 EBITDA, EBITDAX, adjusted EBITDA and adjusted EBITDAX can be found in the attached schedules.
Production for full year 2024 averaged 177 MBOEPD, which included 88 MBOPD. Accrued CAPEX for full year 2024 totaled $953 million, excluding NCI. Details for full year 2024 production and CAPEX can be found in the attached schedules.
CAPITAL ALLOCATION FRAMEWORK
Share Repurchases
In 2024, Murphy repurchased $300 million of stock, or 8.0 million shares. Murphy did not repurchase any shares in the fourth quarter. The company had $650 million remaining under its share repurchase authorization and 145.8 million shares outstanding as of December 31, 2024.
FINANCIAL POSITION
As previously announced, in the fourth quarter Murphy issued $600 million of 6.000 percent senior notes due 2032 and redeemed a total $600 million of senior notes, comprised of $338 million of senior notes due 2027, $200 million of senior notes due 2028 and $62 million of senior notes due 2029.
Also in the fourth quarter, Murphy entered into a new five-year senior unsecured credit facility, with a total facility size of $1.35 billion as of December 31, 2024. This represents a nearly 70 percent increase from the previous credit facility.
Murphy had approximately $1.8 billion of liquidity on December 31, 2024, with no borrowings on the $1.35 billion senior unsecured credit facility and $424 million of cash and cash equivalents, inclusive of NCI.
As of December 31, 2024, Murphy’s total debt of $1.27 billion was comprised of long-term, fixed-rate notes with a weighted average maturity of 9.4 years and a weighted average coupon of 6.1 percent.
“We executed a series of debt transactions during the fourth quarter to extend our maturity profile by two years, and I am excited at the 6.000 percent rate we received on our new 2032 senior notes. More importantly, our bank group remained supportive of Murphy as we strive to achieve investment grade, and we established a new credit facility with nearly 70 percent more liquidity than our previous facility,” said Thomas J. Mireles, Executive Vice President and Chief Financial Officer. “Through our focus on delevering, we have achieved our lowest net debt in over a decade at approximately $850 million, with a strong net debt to total capital ratio of only 13 percent. This solid balance sheet positions us well to capitalize on future opportunities.”
YEAR-END 2024 PROVED RESERVES
After producing 65 MMBOE for the year, Murphy’s preliminary year-end 2024 proved reserves were 713 MMBOE, consisting of 37 percent oil and 42 percent liquids. Total reserve replacement was 83 percent in 2024.
The company maintained a consistent reserve life of 11 years with 59 percent proved developed reserves.
|
2024 Proved Reserves – Preliminary * |
|||
Category |
Net Oil (MMBBL) |
Net NGLs (MMBBL) |
Net Gas |
Net Equiv. |
Proved Developed (PD) |
172 |
24 |
1,360 |
422 |
Proved Undeveloped (PUD) |
89 |
14 |
1,127 |
291 |
Total Proved |
261 |
38 |
2,487 |
713 |
* Proved reserves exclude NCI and are based on preliminary year-end 2024 third-party audited volumes using SEC pricing. |
||||
OPERATIONS SUMMARY
Onshore
In the fourth quarter of 2024, the onshore business produced approximately 100 MBOEPD, which included 29 percent liquids volumes.
Eagle Ford Shale – Production averaged 30 MBOEPD with 69 percent oil volumes and 85 percent liquids volumes in the fourth quarter. As planned, Murphy brought online four operated wells in Catarina during the quarter, and drilled six operated and one non-operated well in Karnes in preparation for its 2025 well delivery program.
Tupper Montney – During the fourth quarter, natural gas production averaged 387 MMCFD. As planned, Murphy drilled two operated wells during the quarter in preparation for its 2025 well delivery program.
Kaybob Duvernay – Production averaged 4 MBOEPD with 56 percent oil volumes and 71 percent liquids volumes in the fourth quarter.
Offshore
Excluding NCI, in the fourth quarter of 2024, the offshore business produced approximately 75 MBOEPD, which included 82 percent oil.
Gulf of Mexico – Production averaged approximately 68 MBOEPD, consisting of 80 percent oil during the fourth quarter. During the quarter, Murphy drilled and began completing the Mormont #4 (Green Canyon 478) well and progressed the Samurai #3 (Green Canyon 432) well workover.
Also during the quarter, Murphy sanctioned the non-operated Zephyrus development project in the Gulf of Mexico in 2024, with targeted first oil in second half 2025.
Canada – In the fourth quarter, production averaged 7 MBOEPD, consisting of 100 percent oil.
Vietnam – During the fourth quarter, Murphy progressed the Lac Da Vang field development project by commencing construction of the LDV-A platform and executing the contract for the floating storage and offloading vessel.
EXPLORATION
Vietnam – As previously announced, during the fourth quarter Murphy drilled an oil discovery at the Hai Su Vang-1X exploration well in Block 15-2/17 in the Cuu Long Basin, located 40 miles offshore Vietnam. The well was drilled to total depth of 13,124 feet in 149 feet of water. Hai Su Vang-1X encountered approximately 370 feet of net oil pay from two reservoirs.
Murphy achieved a facility-constrained flow rate of 10,000 BOPD. Additional testing showed high-quality, 37-degree oil with a gas-oil ratio of approximately 1,100 standard cubic feet per barrel.
Murphy’s subsidiary, Murphy Cuu Long Tay Oil Co., Ltd., is the operator of the block with 40 percent working interest. PetroVietnam Exploration Production Corporation Ltd. holds 35 percent working interest and SK Earthon Co., Ltd. holds the remaining 25 percent.
Côte d’Ivoire – In the fourth quarter, Murphy received final seismic data and completed reprocessing in preparation for its upcoming three-well exploration drilling program.
2025 CAPITAL EXPENDITURE AND PRODUCTION GUIDANCE
The 2025 CAPEX plan is expected to be in the range of $1,135 million to $1,285 million. Full year 2025 production is expected to be in the range of 174.5 to 182.5 MBOEPD, consisting of approximately 91 MBOPD oil and 101 MBOEPD liquids volumes, equating to 51 percent oil and 57 percent liquids volumes, respectively.
Production for first quarter 2025 is estimated to be in the range of 159 to 167 MBOEPD with 83.5 MBOPD, or 51 percent, oil volumes. Production is impacted by 4.4 MBOEPD of planned operated onshore downtime and 2.9 MBOEPD of planned offshore downtime, primarily at non-operated assets. Both production and CAPEX guidance ranges exclude NCI.
2025 CAPEX by Quarter ($ MMs) |
||||
1Q 2025E |
2Q 2025E |
3Q 2025E |
4Q 2025E |
FY 2025E |
$425 |
$280 |
$275 |
$230 |
$1,210 |
Accrual CAPEX, based on midpoint of guidance range and excluding NCI.
The table below illustrates the capital allocation by area.
2025 Capital Expenditure Guidance |
||
Area |
Total CAPEX |
Percent of |
Offshore |
|
|
Gulf of Mexico |
$410 |
34 |
Hibernia / Terra Nova |
$20 |
2 |
Vietnam and Other |
$115 |
9 |
Exploration |
$145 |
12 |
Onshore |
|
|
Eagle Ford Shale |
$360 |
30 |
Kaybob Duvernay / Tupper Montney |
$140 |
11 |
Corporate |
$20 |
2 |
Offshore
Murphy has allocated approximately $410 million of its 2025 CAPEX to the Gulf of Mexico for operated and non-operated development drilling and field development projects.
Murphy plans to spend approximately $20 million of CAPEX in offshore Canada in 2025, with the majority designated for non-operated Hibernia development drilling.
Approximately $115 million of CAPEX has been allocated to Vietnam and other offshore operations in 2025. This includes $20 million for Lac Da Vang development drilling and $90 million designated for Lac Da Vang field development activities, with the remaining $5 million allocated to Paon field development in Côte d’Ivoire.
Exploration
The company has allocated approximately $145 million to its 2025 exploration program, which includes drilling two operated exploration wells in the Gulf of Mexico, one exploration well in Côte d’Ivoire, the Lac Da Hong-1X exploration well in Vietnam and a Hai Su Vang appraisal well in Vietnam.
“We have an ambitious exploration program ahead of us over the next 18 months, with operated wells planned in the Gulf of Mexico, Vietnam and Côte d’Ivoire, in addition to an appraisal well in Vietnam. This optionality across multiple play types in key basins provides significant resource upside for our offshore business. It is an exciting time at Murphy, and exploration will remain a key differentiator and value creator for our company for years to come,” said Hambly.
Onshore
Murphy plans to spend approximately $360 million of its 2025 CAPEX in the Eagle Ford Shale, with $275 million allocated to drill 34 and bring online 35 operated wells, as well as drill 24 and bring online 28 non-operated wells. The remaining $85 million will support field development.
Approximately $140 million of Murphy’s 2025 CAPEX is allocated to Canada onshore. The company plans to spend $65 million in the Tupper Montney to drill 8 and bring online 10 operated wells, with $50 million allocated in the Kaybob Duvernay to drill 6 and bring online 4 operated wells. The remaining $25 million is designated for field development in both areas.
The table below details the 2025 onshore well delivery plan by quarter.
2025 Onshore Wells Online |
|||||
|
1Q 2025 |
2Q 2025 |
3Q 2025 |
4Q 2025 |
2025 Total |
Eagle Ford Shale |
– |
21 |
14 |
– |
35 |
Kaybob Duvernay |
– |
– |
4 |
– |
4 |
Tupper Montney |
5 |
5 |
– |
– |
10 |
Non-Op Eagle Ford Shale |
1 |
11 |
4 |
12 |
28 |
Note: All well counts are shown gross. Eagle Ford Shale non-operated working interest averages 26 percent.
Detailed guidance for the first quarter and full year 2025 is contained in the attached schedules.
FIXED PRICE FORWARD SALES CONTRACTS
The company employs derivative commodity instruments to manage certain risks associated with commodity price volatility and underpin capital spending associated with certain assets. Murphy holds NYMEX natural gas swaps of 20 MMCFD of January 2025 production at an average price of $3.20 per thousand cubic feet (MCF), 40 MMCFD of February through June 2025 production at an average price of $3.58 per MCF, 60 MMCFD of third quarter 2025 production at an average price of $3.65 per MCF and 60 MMCFD of fourth quarter 2025 production at $3.74 per MCF.
Murphy also maintains fixed price forward sales contracts in Canada to mitigate volatility of AECO prices. These contracts are for physical delivery of natural gas volumes at a fixed price, with no mark-to-market income adjustments. Details for the current fixed price contracts can be found in the attached schedules.
CONFERENCE CALL AND WEBCAST SCHEDULED FOR JANUARY 30, 2025
Murphy will host a conference call to discuss fourth quarter 2024 financial and operating results on Thursday, January 30, 2025, at 9:00 a.m. EST. The call can be accessed either via the Internet through the events calendar on the Murphy Oil Corporation Investor Relations website at http://ir.murphyoilcorp.com or via telephone by dialing toll free 1-800-717-1738, reservation number 18687. For additional information, please refer to the Fourth Quarter 2024 Earnings Presentation available under the News and Events section of the Investor Relations website.
FINANCIAL DATA
Summary financial data and operating statistics for fourth quarter 2024, with comparisons to the same period from the previous year, are contained in the attached schedules. Additionally, a schedule indicating the impacts of items affecting comparability of results between periods, a reconciliation of EBITDA, EBITDAX, adjusted EBITDA and adjusted EBITDAX between periods, as well as guidance for the first quarter and full year 2025, are also included.
CAPITAL ALLOCATION FRAMEWORK
This news release contains references to the company’s capital allocation framework and adjusted free cash flow. As previously disclosed, Murphy now allocates capital pursuant to Murphy 3.0 of the company’s capital allocation framework, under which the company allocates a minimum of 50 percent of adjusted free cash flow to shareholder returns, primarily through buybacks. Murphy will continue to assess the appropriate shareholder return allocation under the framework, including potential dividend increases. The remainder of adjusted free cash flow will be allocated to the balance sheet as the company maintains the $1.0 billion total long-term debt goal.
Adjusted free cash flow is defined as cash flow from operations before working capital change, less capital expenditures, distributions to NCI and projected payments, quarterly dividend and accretive acquisitions.
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
News
Cotton Introduces Bill to Prevent Diversion of Advanced Chips to America’s Adversaries and Protect U.S. Product Integrity

Washington, D.C. — Senator Tom Cotton (R-Arkansas) today introduced the Chip Security Act, legislation that will prevent advanced American chips from falling into the hands of adversaries like Communist China by improving oversight of advanced chips and directing Commerce and DoD to study promising chip security mechanism.
“We must do better at maintaining and expanding our position in the global market, while safeguarding America’s technological edge. With these enhanced security measures, we can continue to expand access to U.S. technology without compromising our national security,” said Cotton.
Text of the bill may be found here.
The Chip Security Act would direct the Secretary to:
- Require a location verification mechanism on export-controlled advanced chips or products with export-controlled advanced chips within 6 months of enactment and require exporters of advanced chips to report to BIS if their products have been diverted away from their intended location or subject to tampering attempts.
- Study, in coordination with the Secretary of Defense, other potential chip security mechanisms in the next year and establish requirements over the next few years for implementing such mechanisms, if appropriate, on covered advanced chips. This longer timeline accommodates the years-long technological roadmap for development of the next generation of advanced chips.
- Assess, in coordination with the Secretary of Defense, the most up-to-date security mechanisms annually for three years and determine if any new mechanisms should be required
- Make recommendations annually for three years on how to make export controls more flexible, thus streamlining shipments to more countries.
- Prioritize confidentiality when developing requirements for chip security mechanisms.
News
FREE DRINKS FOR EVERYONE!

EL DORADO – Mayor Paul Choate and the City Council met in regular session Thursday. With all present and the preliminaries out of the way, Mayor Choate addressed the increasing amount of painted markings on roadways, yards, curbs and sidewalks. “In light of the kind of construction we are going to have going on in the community, for evidently some time there will be a lot of digging done, and you see a lot of paint down. I have a copy of this on the bulletin board if you don’t know what those spray painted colors are.” He directed the Council to their packets. According to AR811.org, the Arkansas 811 “Call Before You Dig” site, the colors are universal across most parts of the country and can be placed either by spray paint or colored flags, marking the location of utilities underground. Those colors and their meaning are:
- RED: Electric Power Lines, Cables, Conduit and Lighting Cables
- YELLOW: Gas, Oil, Steam, Petroleum or Gaseous Materials
- ORANGE: Communication, Alarm or Signal Lines, Cables or Conduits
- BLUE: Potable, Water
- GREEN: Sewers and Drain Lines
- PURPLE: Reclaimed Water, Irrigation and Slurry Lines
- PINK: Temporary Survey Markings
- WHITE: Proposed Excavation
The construction being referred to by the Mayor centers mostly around the fiber optic cables being buried inside the city. AT&T currently has operations happening in the city in multiple locations. However, two other companies are investing millions of dollars in fiber optic installation as well. RightFiber, a Jonesboro, Arkansas based fiber optic internet provider says their $5 Million expansion into El Dorado should be complete by the end of the summer 2025. Conway, Arkansas based TCW announced earlier this year, they will be investing $12 Million to bring fiber optic service to El Dorado. In addition to the investment, TCW plans to hire 15-20 local employees to serve the region. TCW says their work will begin in the current quarter of 2025 and should conclude by the end of the calendar year.
- Free NARCAN Training
Jill Weinischke, Ward One Alderman, announced she will conduct two training seminars on NARCAN. “Next Monday (May 12th) here in the Council Chambers, there will be free NARCAN training and if you don’t know what NARCAN is, it’s a drug used to counteract an opioid overdose. You’ll get a kit with a couple of NARCAN nasal sprays in it, it’s free and it will be here at Noon and then again at 5:30 P.M. to accommodate work schedules.” Mayor Choate endorsed the training, saying he had been through it twice and the training takes about 45 minutes.
- Mayor: “These are the kind of citizens we want!”
The Mayor then called on Morgan Wiley and asked her to come to the front. Speaking to the crowd and the Council, he said, “If you guys haven’t been to the North end of North West Avenue in the last couple of weeks, especially on Friday, Saturday, and Sunday, we’ve got a new coffee shop here in town.” Then addressing Wiley and her regional manager Landon Evans, the Mayor said, “I don’t think you’ve sold a cup of coffee yet have you? But how many hundreds, if not thousands of cups have you given away?” Evans replied with, “Over 20,000.” which drew an applause from the gallery. “I’ll admit, I had never had a cup of 7 Brew Coffee until they got here. How do I endorse something I got for free? I’ve said it before, welcome to the community, this is an official welcome from the City Council. We are very happy to have you and as I told you this morning, your marketing is working.” Morgan replied with, “We are doing our training right now, so you might see quite a few folks outside. Starting tomorrow (Friday, May 9th,) we are doing our friends and family program, so we will be doing free small drinks once again. We did drink drops throughout the community about two weeks ago. Then last week we had free small drinks as well and we will continue that with our friends and family program.” Regional Manager, Evans said, “We call it our friends and family but you don’t have to be either, because we look at the entire community as our friends. So, starting tomorrow from 7:00 to 10:00 A.M. and then from 3:00 to 6:00 P.M. you can come through and we give free drinks to anyone, anything on the menu.” The offer is one per person, per vehicle and the program will continue Saturday, May 10th from 9:00 A.M. until 12:00 and then again from 2:00 P.M. until 5:00 P.M. The final day of the program will be Sunday and will take place from 10:00 A.M. until 2:00 P.M. In addition to the free coffee, the offer extends to all menu drink items which includes smoothies, shakes, and tea. Thus far, 7 Brew has hired about 60 new employees, many of whom are high school and college students that were looking for part time work. Last weekend, 7 Brew did not charge anything for drinks but did accept donations for a local charity. They chose the South Arkansas Children’s Coalition and collected more than $5,700 for the charity.
- Moving Forward, Council Approves Land Purchase
Moving to the agenda item labeled as New Business, the Mayor told the Council, “The Mt. Holly Water Treatment Plant, I’m pretty sure everyone here knows where that is, on Mt. Holly just outside of the city. Well, our water treatment plant sits on property we do not own. When it was built decades ago, there was never a transfer of deed for the property, nor was there a purchase price.” According to the Mayor, the owners of the property have been paying taxes on the eight plus acres since the construction of the treatment facility and now would like to sell that property to the City of El Dorado. The offer is to allow the city to purchase the 8.58 acres for $51,480. “I can tell you, they are being very kind.” Mayor Choate told the Council. He said a survey of the property was currently being done and once the survey was deemed to be in order he would like the Council’s approval to purchase that property. Buddy McAdams, Alderman for Ward Four, said, “Mayor, we would have already paid this much in rent.” Ward Two Alderman, Vance Williamson, made the motion with multiple seconds and the vote passed unanimously.
- Parks & Playgrounds and Civil Service Commissions
In other business, the Council approved the reappointment of A.J. Kemp to the City’s Parks and Playgrounds Commission. The Mayor also announced that the El Dorado Civil Service Commission had an opening and encouraged anyone interested in serving, to reach out to City Clerk Heather McVay.
News
7Brew Coffee Sets Monday Opening

EL DORADO – 7 Brew Coffee will officially open Monday at 2100 N. West Ave. in El Dorado, following a ribbon-cutting ceremony hosted by the El Dorado-Union County Chamber of Commerce earlier this week.
The drive-thru coffee chain, which began in Rogers, Arkansas, in 2017, has expanded across multiple states and offers a menu that includes coffee, teas, smoothies and energy drinks. The company emphasizes quick service through its drive-thru model.
During the ribbon cutting, 7 Brew presented a donation to the South Arkansas Children’s Coalition. The organization was named as the local charity partner for the El Dorado location.
Chamber officials welcomed the business to the local commercial community, noting its customer-focused operations and commitment to local engagement.
The El Dorado site is one of several in the state as the company continues to grow its presence across the region.
The location will open to the public on Monday.
News
$73M Profit, Vietnam Oil Discovery Highlight Murphy Oil First Quarter Report

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.
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.
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.
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.
News
Camden City Council To Meet Tuesday

CAMDEN – The Camden Board of Aldermen will convene Monday night, May 6, to consider updates to the city’s electrical code and continue deliberations on an ordinance involving the Camden Airport Commission.
The meeting will begin with an invocation from Rev. Johnny L. Jackson, Associate Pastor at New Mt. Hebron Missionary Baptist Church. Following the pledge of allegiance and roll call, aldermen will review and vote on minutes from the April 8 regular meeting.
The board will then receive the financial report for April 2025 and open the floor for public participation.
Public Works Director Earl Porchia is scheduled to deliver the mayor’s report, which will include the annual update on department and division activities.
Under old business, aldermen will hold a second reading of Ordinance No. 04-25. The ordinance, if passed, would permit an official of the Camden Airport Commission to enter into contracts with the City of Camden.
In new business, the council will introduce Ordinance No. 05-25, which proposes amending Section 9 of the Camden Code of Ordinances to adopt the 2020 National Electrical Code by reference. The amendment would revise Section 9-1 to reflect current electrical standards.
The meeting will conclude with discussion of other business and formal adjournment.
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“He’s Lucky To Be Alive! God Has A Plan For Him!”