墨菲石油 2025年季度报告

Houston,Texas(Address of principal executive offices) (281)675-9000 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles).☒Yes☐No Large accelerated filer☒Acceleratedfiler☐Non-acceleratedfiler☐Smallerreportingcompany☐Emerging growth company new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).☐Yes☒No Note D – Property, Plant and EquipmentNote E – Financing Arrangements and Debt Note B – New Accounting Principles and Recent Accounting Pronouncements Accounting Principles AdoptedReportable Segment Disclosures.In November 2023, the Financial Accounting Standards Board (FASB) issued information provided to the chief operating decision maker, and extends certain disclosure requirements to interimperiods. The Company adopted this standard in the fourth quarter of 2024. The adoption did not impact the determination of significant segments and had no material impact on the Company’s consolidated financialstatements. These new disclosure requirements are applied retrospectively to all prior periods included in the financialstatements. Refer toNote P.Recent Accounting Pronouncements and expenses presented on the face of the income statement to be further disaggregated in the notes to the financialstatements. In addition, the standard requires certain expense and cost information that is not separately disaggregatedto be qualitatively described. We expect this ASU to only impact our disclosures with no impacts to our results of update requires financial statements to include consistent categories and greater disaggregation of information in therate reconciliation, as well as income taxes paid disaggregated by jurisdiction. We expect this ASU to only impact our disclosures with no impacts to our results of operations, cash flows and financial condition. 7 Note C – Revenue from Contracts with CustomersNature of Goods and ServicesThe Company explores for and produces crude oil, natural gas and natural gas liquids (collectively referred to as oil andnatural gas) in select basins around the world. The Company’s revenue from sales of oil and natural gas production proportionate interest in the produced commodity, the Company acts as an agent for the working interest owner andrecognizes revenue only for its own share of the commingled production.The exception to this is the reporting of thenoncontrolling interest (NCI) in MP Gulf of Mexico, LLC (MP GOM) as prescribed by GAAP.U.S. -In the U.S., the Company primarily produces oil and natural gas from fields in the Eagle Ford Shale area of South Texas and in the Gulf of America.Revenue is generally recognized when oil and natural gas is transferred to thecustomer at the delivery point. Revenue recognized is largely index-based with price adjustments for floating market Disaggregation of RevenueThe Company reviews performance based ontwokey geographical segments and between onshore and offshore The Company’s revenues and other income for the three-month periods ended March31, 2025 and 2024 were as Performance ObligationsThe Company recognizes oil and natural gas revenue when it satisfies a performance obligation by transferring control and consume the benefit of commodities. As a result of this assessment for the Company, each unit of measure of thespecified commodity is considered to represent a distinct performance obligation that is satisfied at a point in time upon the transfer of control of the commodity.For contracts with market or index-based pricing, which represent the majority of sales contracts, the Company haselected the allocation exception and allocates the variable consideration to each single performance obligation in the As of March31, 2025, the Company had the following sales contracts in place which are expected to generate revenuefrom sales to customers for a period over 12 months starting at the inception of the contract: Natural GasQ4 2025Contracts to sell natural gas at USD index pricing25MMCFDNatural GasQ4 2026Contracts to sell natural gas at USD index pricing49MMCFDNatural GasQ4 2027Contracts to sell natural gas at USD index pricing30MMCFD NGLsQ2 2025Contracts to sell NGLs at CAD index pricingAs producedThe fixed price contracts above are accounted for as normal sales and purchases for accounting purposes. Note D – Property, Plant and EquipmentExploratory Wells quantity of reserves to justify its completion as a producing well and the Company is making sufficient progressassessing the reserves and the economic and operating viability of the project. (Thousands of dollars)AmountNo. of WellsAmountNo. of WellsAging of capitalized well co