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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
[1]
Jun. 30, 2019
Jun. 30, 2018
[1]
Revenues        
Revenue from sales to customers $ 646,114 $ 426,767 $ 1,236,664 $ 823,096
Gain (loss) on crude contracts 57,916 [2] (37,624) 57,916 (67,126)
Gain on sale of assets and other income 5,019 437 5,473 8,400
Total revenues 709,049 389,580 1,300,053 764,370
Costs and expenses        
Lease operating expenses 137,132 81,236 268,828 170,069
Severance and ad valorem taxes 13,072 12,876 23,169 25,033
Exploration expenses, including undeveloped lease amortization 30,674 18,889 63,212 47,627
Selling and general expenses 57,532 56,295 120,892 104,391
Depreciation, depletion and amortization 264,302 190,751 493,708 373,494 [3]
Accretion of asset retirement obligations 9,897 6,396 19,237 12,768 [3]
Other expense (benefit) 25,437 658 55,442 (10,387)
Total costs and expenses 538,046 367,101 1,044,488 722,995
Operating income from continuing operations 171,003 22,479 255,565 41,375
Other income (loss)        
Interest and other income (loss) (8,968) (717) (13,716) 3,870
Interest expense, net (54,096) (44,325) (100,165) (88,866)
Total other loss (63,064) (45,042) (113,881) (84,996)
Income (loss) from continuing operations before income taxes 107,939 (22,563) 141,684 (43,621)
Income tax expense (benefit) 9,115 2,622 19,937 (109,017)
Income (loss) from continuing operations 98,824 (25,185) 121,747 65,396
Income from discontinued operations, net of income taxes 24,418 70,704 74,264 148,376 [3]
Net income including noncontrolling interest 123,242 45,519 196,011 213,772 [3]
Less: Net income attributable to noncontrolling interest 30,970 0 63,557 0
NET INCOME ATTRIBUTABLE TO MURPHY $ 92,272 $ 45,519 [2] $ 132,454 $ 213,772 [2]
INCOME (LOSS) PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ 0.40 $ (0.14) $ 0.34 $ 0.38
Discontinued operations (in USD per share) 0.15 0.41 0.44 0.86
Net Income (in USD per share) 0.55 0.27 0.78 1.24
INCOME (LOSS) PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) 0.40 (0.15) 0.34 0.37
Discontinued operations (in USD per share) 0.14 0.40 0.43 0.85
Net Income (in USD per share) 0.54 0.25 0.77 1.22
Cash dividends per Common share (in USD per share) $ 0.25 $ 0.25 $ 0.50 $ 0.50
Average Common shares outstanding (thousands)        
Basic (in shares) 168,537,896 173,042,626 170,555,685 172,907,537
Diluted (in shares) 169,272,463 173,982,620 171,432,692 174,927,062
[1] Reclassified to conform to current presentation (see Note A).
[2] Reclassified to conform to current presentation (see Note A).
[3] Reclassified to conform to current presentation (See Note A).