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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues and other income        
Revenue from sales to customers $ 425,324 $ 750,337 $ 1,311,627 $ 2,060,127
(Loss) gain on crude contracts (5,290) 63,247 319,502 121,163
Gain on sale of assets and other income 1,831 3,493 6,006 10,283
Total revenues and other income 421,865 817,077 1,637,135 2,191,573
Costs and expenses        
Lease operating expenses 124,491 147,632 478,283 416,460
Severance and ad valorem taxes 6,781 13,803 22,645 36,972
Transportation, gathering and processing 41,322 54,305 126,779 128,748
Exploration expenses, including undeveloped lease amortization 12,092 12,358 61,686 75,570
Selling and general expenses 28,509 55,366 104,381 176,258
Restructuring expenses 4,982 0 46,379 0
Depreciation, depletion and amortization 231,603 325,562 769,151 819,270
Accretion of asset retirement obligations 10,778 10,587 31,213 29,824
Impairment of assets 219,138 0 1,206,284 0
Other (benefit) expense 20,224 (29,000) (2,957) 26,442
Total costs and expenses 699,920 590,613 2,843,844 1,709,544
Operating (loss) income from continuing operations (278,055) 226,464 (1,206,709) 482,029
Other (loss)        
Interest and other (loss) (5,177) (4,418) (10,107) (18,134)
Interest expense, net (45,182) (44,930) (124,877) (145,095)
Total other (loss) (50,359) (49,348) (134,984) (163,229)
(Loss) income from continuing operations before income taxes (328,414) 177,116 (1,341,693) 318,800
Income tax (benefit) expense (62,584) 18,782 (248,890) 38,719
(Loss) income from continuing operations (265,830) 158,334 (1,092,803) 280,081
(Loss) income from discontinued operations, net of income taxes (778) 953,368 (6,907) 1,027,632
Net (loss) income including noncontrolling interest (266,608) 1,111,702 (1,099,710) 1,307,713
Less: Net (loss) income attributable to noncontrolling interest (23,055) 22,700 (122,869) 86,257
NET (LOSS) INCOME ATTRIBUTABLE TO MURPHY $ (243,553) $ 1,089,002 $ (976,841) $ 1,221,456
(LOSS) INCOME PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ (1.58) $ 0.85 $ (6.31) $ 1.16
Discontinued operations (in USD per share) (0.01) 5.94 (0.05) 6.14
Net (loss) income (in USD per share) (1.59) 6.79 (6.36) 7.30
(LOSS) INCOME PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) (1.58) 0.84 (6.31) 1.16
Discontinued operations (in USD per share) (0.01) 5.92 (0.05) 6.11
Net (loss) income (in USD per share) (1.59) 6.76 (6.36) 7.27
Cash dividends per Common share (in USD per share) $ 0.125 $ 0.25 $ 0.50 $ 0.75
Average Common shares outstanding (thousands)        
Basic (in shares) 153,596,109 160,365,705 153,479,654 167,310,202
Diluted (in shares) 153,596,109 160,980,038 153,479,654 168,105,227