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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues and other income        
Revenue from sales to customers $ 758,829 $ 285,745 $ 1,351,356 $ 886,303
(Loss) gain on crude contracts (226,245) (75,880) (440,630) 324,792
Gain on sale of assets and other income 17,059 1,677 18,902 4,175
Total revenues and other income 549,643 211,542 929,628 1,215,270
Costs and expenses        
Lease operating expenses 126,413 144,644 273,577 353,792
Severance and ad valorem taxes 11,314 6,442 20,545 15,864
Transportation, gathering and processing 49,696 41,090 92,608 85,457
Exploration expenses, including undeveloped lease amortization 13,543 29,468 25,323 49,594
Selling and general expenses 29,113 39,100 58,616 75,872
Restructuring expenses 0 41,397 0 41,397
Depreciation, depletion and amortization 227,288 231,446 425,566 537,548
Accretion of asset retirement obligations 12,164 10,469 22,656 20,435
Impairment of assets 0 19,616 171,296 987,146
Other expense (benefit) 70,328 22,007 91,407 (23,181)
Total costs and expenses 539,859 585,679 1,181,594 2,143,924
Operating income (loss) from continuing operations 9,784 (374,137) (251,966) (928,654)
Other income (loss)        
Interest income and other (loss) (4,525) (5,171) (9,866) (4,930)
Interest expense, net (43,374) (38,598) (131,474) (79,695)
Total other loss (47,899) (43,769) (141,340) (84,625)
Loss from continuing operations before income taxes (38,115) (417,906) (393,306) (1,013,279)
Income tax benefit (11,177) (94,773) (99,336) (186,306)
Loss from continuing operations (26,938) (323,133) (293,970) (826,973)
(Loss) income from discontinued operations, net of income taxes (102) (1,267) 106 (6,129)
Net loss including noncontrolling interest (27,040) (324,400) (293,864) (833,102)
Less: Net income (loss) attributable to noncontrolling interest 36,042 (7,216) 56,656 (99,814)
NET LOSS ATTRIBUTABLE TO MURPHY $ (63,082) $ (317,184) $ (350,520) $ (733,288)
LOSS PER COMMON SHARE – BASIC        
Continuing operations (in USD per share) $ (0.41) $ (2.05) $ (2.27) $ (4.74)
Discontinued operations (in USD per share) 0 (0.01) 0 (0.04)
Net loss (in USD per share) (0.41) (2.06) (2.27) (4.78)
LOSS PER COMMON SHARE – DILUTED        
Continuing operations (in USD per share) (0.41) (2.05) (2.27) (4.74)
Discontinued operations (in USD per share) 0 (0.01) 0 (0.04)
Net loss (in USD per share) (0.41) (2.06) (2.27) (4.78)
Cash dividends per Common share (in USD per share) $ 0.125 $ 0.125 $ 0.250 $ 0.375
Average Common shares outstanding (thousands)        
Basic (in shares) 154,394,602 153,580,758 154,153,158 153,428,666
Diluted (in shares) 154,394,602 153,580,758 154,153,158 153,428,666