Murphy Oil Corporation (NYSE:MUR) Q3 2023 Earnings Call Transcript

Roger Jenkins: No. Obviously, we are discussing us. We have a finance committee for our Board, where we review our modeling in great detail. We’re in the middle of our budget and putting things into our new plan, like I said in my comments, overall strategy over time, there would be very similar returns. We can get to the 3.0 of next year, depending on oil price, as you know, we’ll go to 50-50. I would say we just keep it down the fairway honor and the framework, get to the Murphy 3.0, 50-50. And we have — opening up there, we can go to more returns and there could be more opportunities come our way. So we’re very, very well positioned. We’re also, we’re still in the oil business. We’re not orderly depleting our assets. We picked up two incredible assets here to do with our offshore competitive advantage on execution.

The countries want us there because of that because it’s important to us and we move quickly. So we have opportunities in front of us. We’re doing extremely well. And with higher oil prices above 85 or so, we can move to this 3.0, as you said very quickly. We want to probably at least execute one quarter of each of the numbers before we change. But we’re — it is — I haven’t heard that comment rolling stop, but it sort of is that way, Charles, I appreciate you coining a great line for me this morning.

Charles Meade: All right. Well, thank you for the detail, Roger.

Roger Jenkins: Well, thank you and good to hear from you.

Operator: Thank you. And there are no further questions at this time. I would like to turn it back to Roger Jenkins for closing remarks.

Roger Jenkins: Thank you, everyone, for attending our call today. We appreciate we had a really good quarter, one of the best in a long time, and we’re looking forward to another one, and we’ll talk to you in late January. I appreciate it. Thank you.

Operator: Thank you, presenters. And ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect.