Murphy Oil Corporation 10-Q filed Nov 4, 2026

Removed · Overview (Continued)

lower production handling agreement costs at King’s Quay from lower volumes; these items were partially offset by higher U.S. Onshore costs from increased operated well counts in the Eagle Ford Shale. Higher other income was primarily due to foreign exchange gains driven by favorable currency movements in Canada. Higher income tax expense was primarily due to higher revenues and lower lease operating expenses, as well as certain exploration expenses that did not reduce income tax expense as they were incurred in foreign jurisdictions where no income tax benefits are currently available. Higher exploration expenses were largely due to exploration activities in the Gulf of America and costs related to second-quarter appraisal programs in Vietnam and Côte d’Ivoire. Higher other operating expenses were related to the increase in a joint venture settlement provision.