Murphy Oil (MUR) 10-Q 5 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014
Document And Entity Information [Abstract]	'
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	30-Sep-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q3
Trading Symbol	'mur
Entity Registrant Name	'MURPHY OIL CORP /DE
Entity Central Index Key	'0000717423
Current Fiscal Year End Date	'--12-31
Entity Filer Category	'Large Accelerated Filer
Entity Common Stock, Shares Outstanding	177,494,772

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets	'		'
Cash and cash equivalents	$674,021		$750,155
Canadian government securities with maturities greater than 90 days at the date of acquisition	460,190		374,842
Accounts receivable, less allowance for doubtful accounts of $1,609 in 2014 and 2013	970,286		999,872
Inventories, at lower of cost or market	'		'
Crude oil	40,311		40,077
Materials and supplies	259,644		254,118
Prepaid expenses	86,091		83,856
Deferred income taxes	60,700		61,991
Assets held for sale	735,875		943,732
Total current assets	3,287,118		3,508,643
Property, plant and equipment, at cost less accumulated depreciation, depletion and amortization of $9,698,266 in 2014 and $8,540,239 in 2013	14,372,837		13,481,055
Goodwill	38,198		40,259
Deferred charges and other assets	87,106		98,123
Assets held for sale	60,507		381,404
Total assets	17,845,766		17,509,484
Current liabilities	'		'
Current maturities of long-term debt	39,607		26,249
Accounts payable and accrued liabilities	2,249,579		2,335,712
Income taxes payable	145,185		222,930
Liabilities associated with assets held for sale	185,846		639,140
Total current liabilities	2,620,217		3,224,031
Long-term debt, including capital lease obligation	3,986,261		2,936,563
Deferred income taxes	1,519,677		1,466,100
Asset retirement obligations	897,765		852,488
Deferred credits and other liabilities	344,301		339,028
Liabilities associated with assets held for sale	75,037		95,544
Stockholders' equity	'		'
Cumulative Preferred Stock, par $100, authorized 400,000 shares, none issued	'		'
Common Stock, par $1.00, authorized 450,000,000 shares, issued 195,036,689 shares in 2014 and 194,920,155 shares in 2013	195,037		194,920
Capital in excess of par value	896,567		902,633
Retained earnings	8,414,917		8,058,792
Accumulated other comprehensive income (loss)	-17,809	[1]	172,119	[1]
Treasury stock, 17,541,917 shares of Common Stock in 2014 and 11,513,642 shares of Common Stock in 2013, at cost	-1,086,204		-732,734
Total stockholders' equity	8,402,508		8,595,730
Total liabilities and stockholders' equity	$17,845,766		$17,509,484
[1]	All amounts are presented net of income taxes.

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowance for doubtful accounts	$1,609	$1,609
Property, plant and equipment, accumulated depreciation, depletion and amortization	$9,698,266	$8,540,239
Cumulative Preferred Stock, par	$100	$100
Cumulative Preferred Stock, authorized	400,000	400,000
Cumulative Preferred Stock, issued	0	0
Common Stock, par	$1	$1
Common Stock, authorized	450,000,000	450,000,000
Common Stock, issued	195,036,689	194,920,155
Treasury stock, shares of Common Stock	17,541,917	11,513,642

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended			9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013		Sep. 30, 2014	Sep. 30, 2013
REVENUES	'	'		'	'
Sales and other operating revenues	$1,431,007	$1,366,434	[1]	$4,070,120	$3,980,960	[1]
Loss on sale of assets	-133	-38	[1]	-5,130	-262	[1]
Interest and other income	2,163	53,100	[1]	3,468	61,722	[1]
Total revenues	1,433,037	1,419,496	[1]	4,068,458	4,042,420	[1]
COSTS AND EXPENSES	'	'		'	'
Lease operating expenses	265,518	258,524	[1]	813,638	847,522	[1]
Severance and ad valorem taxes	28,574	22,393	[1]	83,793	57,790	[1]
Exploration expenses, including undeveloped lease amortization	117,433	147,845	[1]	390,711	345,110	[1]
Selling and general expenses	82,960	99,333	[1]	269,986	267,704	[1]
Depreciation, depletion and amortization	499,151	394,667	[1]	1,354,393	1,139,193	[1]
Impairment of assets	'	'		'	21,587	[1]
Accretion of asset retirement obligations	12,600	12,539	[1]	36,992	36,396	[1]
Interest expense	34,970	33,535	[1]	101,625	90,156	[1]
Interest capitalized	-5,323	-13,011	[1]	-19,244	-40,877	[1]
Other expense	662	'		1,297	'
Total costs and expenses	1,036,545	955,825	[1]	3,033,191	2,764,581	[1]
Income from continuing operations before income taxes	396,492	463,671	[1]	1,035,267	1,277,839	[1]
Income tax expense	125,435	198,593	[1]	452,255	570,189	[1]
Income from continuing operations	271,057	265,078	[1]	583,012	707,650	[1]
Income (loss) from discontinued operations, net of taxes	-25,350	19,731	[1]	-52,639	340,402	[1]
NET INCOME	$245,707	$284,809	[1]	$530,373	$1,048,052	[1]
PER COMMON SHARE - BASIC	'	'		'	'
Income from continuing operations	$1.52	$1.42	[1]	$3.25	$3.75	[1]
Income (loss) from discontinued operations	($0.14)	$0.10	[1]	($0.29)	$1.80	[1]
Net income	$1.38	$1.52	[1]	$2.96	$5.55	[1]
PER COMMON SHARE - DILUTED	'	'		'	'
Income from continuing operations	$1.51	$1.41	[1]	$3.23	$3.72	[1]
Income (loss) from discontinued operations	($0.14)	$0.10	[1]	($0.29)	$1.79	[1]
Net income	$1.37	$1.51	[1]	$2.94	$5.51	[1]
Average Common shares outstanding	'	'		'	'
Basic	177,535,503	186,938,328	[1]	179,259,573	188,914,000	[1]
Diluted	178,856,078	188,337,511	[1]	180,578,085	190,245,166	[1]
[1]	Reclassified to conform to current presentation - See Note D.

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]	'	'		'		'
Net income	$245,707	$284,809	[1]	$530,373		$1,048,052	[1]
Other comprehensive income (loss), net of tax	'	'		'		'
Net gain (loss) from foreign currency translation	-192,329	95,065		-195,374		-139,943
Retirement and postretirement benefit plans	1,505	1,279		3,996		8,549
Deferred loss on interest rate hedges reclassified to interest expense	484	483		1,450		1,453
Other comprehensive income (loss)	-190,340	96,827		-189,928	[2]	-129,941
COMPREHENSIVE INCOME	$55,367	$381,636		$340,445		$918,111
[1]	Reclassified to conform to current presentation - See Note D.
[2]	All amounts are presented net of income taxes.

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013
OPERATING ACTIVITIES	'		'
Net income	$530,373		$1,048,052	[1]
Adjustments to reconcile net income to net cash provided by operating activities:	'		'
Loss (income) from discontinued operations	52,639		-340,402	[1]
Depreciation, depletion and amortization	1,354,393		1,139,193	[1]
Impairment of assets	'		21,587	[1]
Amortization of deferred major repair costs	6,390		6,387	[1]
Dry hole costs	203,607		160,540	[1]
Amortization of undeveloped leases	55,745		53,287	[1]
Accretion of asset retirement obligations	36,992		36,396	[1]
Deferred and noncurrent income tax charges	64,557		141,402	[1]
Pretax loss from disposition of assets	5,130		262	[1]
Net (increase) decrease in noncash operating working capital	6,940		-24,545	[1]
Other operating activities, net	17,531		-24,206	[1]
Net cash provided by continuing operations	2,334,297		2,217,953	[1]
Net cash provided by discontinued operations	19,720		460,563	[1]
Net cash provided by operating activities	2,354,017		2,678,516	[1]
INVESTING ACTIVITIES	'		'
Property additions and dry hole costs	-2,806,705	[2]	-2,695,507	[1],[2]
Proceeds from sale of assets	3,138	[2]	1,371	[1],[2]
Purchase of investment securities	-672,689	[2]	-670,615	[1],[2]
Proceeds from maturity of investment securities	587,341	[3]	496,425	[1],[3]
Investing activities of discontinued operations	'		'
Sales proceeds	'		282,202	[1]
Property additions and other	-12,101		-158,363	[1]
Other - net	-19,233		-1,383	[1]
Net cash required by investing activities	-2,920,249		-2,745,870	[1]
FINANCING ACTIVITIES	'		'
Borrowings of long-term debt	1,050,000	[2]	'
Purchase of treasury stock	-375,000		-250,000	[1]
Proceeds from exercise of stock options and employee stock purchase plans	'		2,778	[1]
Withholding tax on stock-based incentive awards	-6,786		-12,713	[1]
Cash dividends paid	-174,248		-177,805	[1]
Separation of retail business:	'		'
Cash distributed to Company by Murphy USA	'		650,000	[1]
Cash held and retained by Murphy USA upon separation	'		-55,506	[1]
Other - net	-1,384		-3,034	[1]
Net cash provided by financing activities	492,582		153,720	[1]
Effect of exchange rate changes on cash and cash equivalents	-2,484		255	[1]
Net increase (decrease) in cash and cash equivalents	-76,134		86,621	[1]
Cash and cash equivalents at January 1	750,155		947,316	[1]
Cash and cash equivalents at September 30	$674,021		$1,033,937	[1]
[1]	Reclassified to conform to current presentation - See Note D.
[2]	Excludes non-cash asset and long-term obligation of $356,170 in 2013 associated with commencement of a capital lease of production equipment at the Kakap field offshore Malaysia.
[3]	Investments are Canadian government securities with maturities greater than 90 days at the date of acquisition.

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	Sep. 30, 2013	Sep. 30, 2014
In Thousands, unless otherwise specified		Minimum [Member]
Non-cash asset and long-term obligation	$356,170	'
Maturity of Canadian government securities	'	'90 days

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Common Stock [Member]	Capital In Excess Of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]	Total
In Thousands
Balance at beginning of period at Dec. 31, 2012	$194,616	$873,934	$7,717,389	$408,901	($252,805)	'
Exercise of stock options, including income tax benefits	245	1,194	'	'	'	'
Foreign currency translation loss, net of income taxes	'	'	'	-139,943	'	-139,943
Purchase of treasury shares	'	'	'	'	-250,000	'
Net income for the period	'	'	1,048,052	'	'	1,048,052	[1]
Restricted stock transactions and other	'	-24,485	'	'	'	'
Retirement and postretirement benefit plan adjustments, net of income taxes	'	'	'	8,549	'	-8,549
Sale of stock under employee stock purchase plans	'	'	'	'	836	'
Cash dividends	'	'	-177,805	'	'	'
Distribution of common stock of Murphy USA Inc. to shareholders	'	'	-552,587	'	'	'
Stock-based compensation	'	44,079	'	'	'	'
Deferred loss on interest rate hedges reclassified to interest expense, net of income taxes	'	'	'	1,453	'	1,453
Awarded restricted stock, net of forfeitures	'	'	'	'	16,545	'
Other	'	-122	'	'	'	'
Balance at end of period at Sep. 30, 2013	194,861	894,600	8,035,049	278,960	-485,424	8,918,046
Balance at beginning of period at Dec. 31, 2013	194,920	902,633	8,058,792	172,119	-732,734	8,595,730
Exercise of stock options, including income tax benefits	117	-11,354	'	'	'	'
Foreign currency translation loss, net of income taxes	'	'	'	-195,374	'	-195,374
Purchase of treasury shares	'	'	'	'	-375,000	'
Net income for the period	'	'	530,373	'	'	530,373
Restricted stock transactions and other	'	-27,977	'	'	'	'
Retirement and postretirement benefit plan adjustments, net of income taxes	'	'	'	3,996	'	-3,996
Sale of stock under employee stock purchase plans	'	'	'	'	345	'
Cash dividends	'	'	-174,248	'	'	'
Stock-based compensation	'	33,291	'	'	'	'
Deferred loss on interest rate hedges reclassified to interest expense, net of income taxes	'	'	'	1,450	'	1,450
Awarded restricted stock, net of forfeitures	'	'	'	'	21,185	'
Other	'	-26	'	'	'	'
Balance at end of period at Sep. 30, 2014	$195,037	$896,567	$8,414,917	($17,809)	($1,086,204)	$8,402,508
[1]	Reclassified to conform to current presentation - See Note D.

CONSOLIDATED_STATEMENTS_OF_STO1

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013
Statement Of Stockholders Equity [Abstract]	'	'	'
Cumulative Preferred Stock, par	$100	$100	$100
Cumulative Preferred Stock, authorized	400,000	400,000	400,000
Cumulative Preferred Stock, issued	0	0	0
Common Stock, par	$1	$1	$1
Common Stock, authorized	450,000,000	450,000,000	450,000,000
Common Stock, issued	195,036,689	194,920,155	194,861,200

Interim_Financial_Statements

Interim Financial Statements	9 Months Ended
	Sep. 30, 2014
Interim Financial Statements [Abstract]	'
Interim Financial Statements	'
	Note A – Interim Financial Statements
	The consolidated financial statements of the Company presented herein have not been audited by independent auditors, except for the Consolidated Balance Sheet at December 31, 2013.  In the opinion of Murphy's management, the unaudited financial statements presented herein include all accruals necessary to present fairly the Company's financial position at September 30, 2014, and the results of operations,  cash flows and changes in stockholders’ equity for the three-month and nine-month periods ended September 30, 2014 and 2013, in conformity with accounting principles generally accepted in the United States of America (U.S.).  In preparing the financial statements of the Company in conformity with accounting principles generally accepted in the U.S., management has made a number of estimates and assumptions related to the reporting of assets, liabilities, revenues, and expenses and the disclosure of contingent assets and liabilities.  Actual results may differ from the estimates.
	Financial statements and notes to consolidated financial statements included in this Form 10-Q report should be read in conjunction with the Company's 2013 Form 10-K report, as certain notes and other pertinent information have been abbreviated or omitted in this report.  Financial results for the three-month and nine-month periods ended September 30, 2014 are not necessarily indicative of future results.

Property_Plant_and_Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2014
Property, Plant And Equipment [Abstract]	'
Property, Plant and Equipment	'
	Note B – Property, Plant and Equipment
	Under U.S. generally accepted accounting principles for companies that use the successful efforts method of accounting, exploratory well costs should continue to be capitalized when the well has found a sufficient quantity of reserves to justify its completion as a producing well and the company is making sufficient progress assessing the reserves and the economic and operating viability of the project.
	At September 30, 2014, the Company had total capitalized exploratory well costs pending the determination of proved reserves of $406.6 million.  The following table reflects the net changes in capitalized exploratory well costs during the nine-month periods ended September  30, 2014 and 2013.
	(Thousands of dollars)	2014			2013
	Beginning balance at January 1	$	393,030		445,697
	Additions pending the determination of proved reserves		13,595		28,168
	Reclassifications to proved properties based on the determination of proved		–		-52,865
	reserves
	Balance at September 30	$	406,625		421,000
	The following table provides an aging of capitalized exploratory well costs based on the date the drilling was completed for each individual well and the number of projects for which exploratory well costs have been capitalized.  The projects are aged based on the last well drilled in the project.
			September 30,
		2014					2013
	(Thousands of dollars)	Amount		No. of Wells		No. of Projects	Amount		No. of Wells	No. of Projects
	Aging of capitalized well costs:
	Zero to one year	$	32,192	2		1	$	36,424	2	2
	One to two years		36,676	2		1		51,444	6	–
	Two to three years		51,898	6		–		35,504	3	3
	Three years or more		285,859	22		7		297,628	27	5
		$	406,625	32		9	$	421,000	38	10
	Note B – Property, Plant and Equipment (Contd.)
	Of the $374.4 million of exploratory well costs capitalized more than one year at September 30, 2014, $214.8 million is in Malaysia, $125.9 million is in the U.S. and $33.7 million is in Brunei.  In all three geographical areas, either further appraisal or development drilling is planned and/or development studies/plans are in various stages of completion.
	The Company has entered into an agreement to sell 30% of its working interest in most of its oil and gas properties in Malaysia.  The sale price of $2.0 billion is subject to normal closing costs and adjustments.  The sale is expected to close in two phases, with 20% being completed in December 2014 and 10% being completed in the first quarter 2015.
	See also Note E for discussion regarding a capital lease of production equipment at the Kakap field.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2014
Inventories [Abstract]	'
Inventories	'
	Note C – Inventories
	Inventories are carried at the lower of cost or market.  For the Company’s U.K. refining and marketing operations reported as discontinued operations, the cost of crude oil and finished products is predominantly determined on the last-in, first-out (LIFO) method.  At September 30, 2014 and December 31, 2013, the carrying value of inventories under the LIFO method was $133.0 million and $268.6 million, respectively, less than such inventories would have been valued using the first-in, first-out (FIFO) method.  These inventories are included in assets held for sale on the Consolidated Balance Sheet.

Discontinued_Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2014
Discontinued Operations [Abstract]	'
Discontinued Operations	'
	Note D – Discontinued Operations
	The Company has previously announced its intention to sell its U.K. refining and marketing operations.  The Company has accounted for this U.K. downstream business as discontinued operations for all periods presented, including a reclassification of 2013 operating results and cash flows for this business to discontinued operations.  The U.K. downstream operations were previously reported as a separate segment within the Company’s former refining and marketing business.  On September 30, 2014, the Company completed the sale of its U.K. retail marketing operations.  The Company received the net proceeds of $232.7 million upon open of banking operations on October 1, 2014.  Although Murphy had previously signed an agreement to sell the Milford Haven, Wales, refinery and terminal assets, the transaction could not be completed by the October 31, 2014 deadline.  The refinery is currently in a period of shut-down and will be decommissioned and operated as a petroleum storage and distribution terminal while the Company seeks a buyer for the terminal facility and three inland terminals. The Company realized an after-tax gain of $98.7 million on the sale of the U.K. retail marketing operation in the third quarter 2014, but this gain was essentially offset by a similar reduction in the carrying value of its held for sale Milford Haven, Wales refinery.
	On August 30, 2013, Murphy Oil Corporation (the “Company”) distributed 100% of the outstanding common stock of Murphy USA Inc. (“MUSA”) to its shareholders in a generally tax-free spin-off for U.S. federal income tax purposes.  Prior to the separation, MUSA held all of the Company’s U.S. downstream operations, including retail gasoline stations and other marketing assets, plus two ethanol production facilities.  The shares of MUSA common stock are traded on the New York Stock Exchange under the ticker symbol “MUSA.”  The Company has no continuing involvement with MUSA operations.  Accordingly, the operating results and the cash flows for these former U.S. downstream operations have been reported as discontinued operations in the 2013 consolidated financial statements.  The U.S. downstream operations were previously reported as a separate segment within the Company’s former refining and marketing business.
	The Company also sold its oil and gas assets in the United Kingdom during 2013.  After-tax gains on sale of the assets were $216.2 million in the nine months ended September 30, 2013.  The Company has accounted for these U.K. upstream operations as discontinued operations in its consolidated financial statements for all periods presented.
	Note D – Discontinued Operations (Contd.)
	The results of operations associated with these discontinued operations for the three-month and nine-month periods ended September 30, 2014 and 2013 were as follows:
			Three Months		Nine Months
			Ended September 30,		Ended September 30,
	(Thousands of dollars)		2014	2013	2014	2013
	Revenues	$	509,037	4,502,100	2,752,557	15,981,683
	Income before income taxes, including pretax gain on	$	-27,163	38,329	-61,396	355,668
	disposals of $130,568 during the nine-month period in 2013
	Income tax expense (benefit)		-1,813	18,598	-8,757	15,266
	Income (loss) from discontinued operations	$	-25,350	19,731	-52,639	340,402
	The following table presents the carrying value of the major categories of assets and liabilities of U.K. refining and marketing operations reflected as held for sale on the Company’s Consolidated Balance Sheets at September 30, 2014 and December 31, 2013.
		September 30,		December 31,
	(Millions of dollars)	2014		2013
	Current assets
	Cash	$	197,607	301,302
	Accounts receivable		378,804	302,059
	Inventories		85,757	254,240
	Other		73,707	86,131
	Total current assets held for sale	$	735,875	943,732
	Non-current assets
	Property, plant and equipment, net	$	37,304	360,347
	Other		23,203	21,057
	Total non-current assets held for sale	$	60,507	381,404
	Current liabilities
	Accounts payable	$	185,846	637,432
	Other		–	1,708
	Total current liabilities associated with assets held for sale	$	185,846	639,140
	Non-current liabilities
	Deferred income taxes payable	$	70,424	68,096
	Other		4,613	27,448
	Total non-current liabilities associated with assets held for sale	$	75,037	95,544

Financing_Arrangements_and_Deb

Financing Arrangements and Debt	9 Months Ended
	Sep. 30, 2014
Financing Arrangements and Debt [Abstract]	'
Financing Arrangements and Debt	'
	Note E – Financing Arrangements and Debt
	The Company has a $2.0 billion committed credit facility that expires in June 2017.  Borrowings under the facility bear interest at 1.25% above LIBOR based on the Company’s current credit rating as of September 30, 2014.  In addition, facility fees of 0.25% are charged on the full $2.0 billion commitment.  The Company also had unused uncommitted credit facilities that totaled approximately $270 million at September 30, 2014.  These uncommitted facilities may be withdrawn by the various banks at any time.  The Company also has a shelf registration statement on file with the U.S. Securities and Exchange Commission that permits the offer and sale of debt and/or equity securities through October 2015.
	During June 2013, the Company and its partners entered into a 25-year lease of production equipment at the Kakap field offshore Malaysia.  The lease has been accounted for as a capital lease, and payments under the agreement are to be made over a 15-year period through June 2028.  Current maturities and long-term debt on the Consolidated Balance Sheet included  $39.6 million and $341.3 million associated with this lease at September 30, 2014.

Cash_Flow_Disclosures

Cash Flow Disclosures	9 Months Ended
	Sep. 30, 2014
Cash Flow Disclosures [Abstract]	'
Cash Flow Disclosures	'
	Note F – Cash Flow Disclosures
	Additional disclosures regarding cash flow activities are provided below.
			Nine Months
			Ended September 30,
	(Thousands of dollars)	2014		2013
	Net (increase) decrease in operating working capital other than
	cash and cash equivalents:
	Decrease (increase) in accounts receivable	$	29,586	-75,735
	Increase in inventories		-3,326	-51,279
	Increase in prepaid expenses		-2,235	-52,793
	Decrease in deferred income tax assets		1,290	40,145
	Increase (decrease) in accounts payable and accrued liabilities		59,369	-84,344
	Increase (decrease) in current income tax liabilities		-77,744	199,461
	Total	$	6,940	-24,545
	Supplementary disclosures (including discontinued operations):
	Cash income taxes paid	$	438,309	414,676
	Interest paid, net of amounts capitalized		44,657	1,077

Employee_and_Retiree_Benefit_P

Employee and Retiree Benefit Plans	9 Months Ended
	Sep. 30, 2014
Employee and Retiree Benefit Plans [Abstract]	'
Employee and Retiree Benefit Plans	'
	Note G – Employee and Retiree Benefit Plans
	The Company has defined benefit pension plans that are principally noncontributory and cover most full-time employees.  All pension plans are funded except for the U.S. and Canadian nonqualified supplemental plans and the U.S. directors’ plan.  All U.S. tax qualified plans meet the funding requirements of federal laws and regulations.  Contributions to foreign plans are based on local laws and tax regulations.  The Company also sponsors health care and life insurance benefit plans, which are not funded, that cover most active and retired U.S. employees.  Additionally, most U.S. retired employees are covered by a life insurance benefit plan.  The health care benefits are contributory; the life insurance benefits are noncontributory.
	Effective with the spin-off of Murphy’s former U.S. retail marketing operation, Murphy USA Inc. (MUSA) on August 30, 2013, significant modifications were made to the U.S. defined benefit pension plan.  Certain Murphy employees’ benefits under the U.S. plan were frozen at that time.  No further benefit service will accrue for the affected employees; however, the plan will recognize future eligible earnings after the spin-off date.  In addition, all previously unvested benefits became fully vested at the spin-off date.  For those affected active employees of the Company, additional U.S. retirement plan benefits will accrue in future periods under a cash balance formula.  Employees hired after August 30, 2013 will only accrue plan benefits under the cash balance formula. Upon the spin-off of MUSA, Murphy retained all vested pension defined benefit and other postretirement benefit obligations
	Note G – Employee and Retiree Benefit Plans (Contd.)
	associated with current and former employees of this separated business.  No additional benefit will accrue for any employees of MUSA under the Company’s retirement plan after the spin-off date.
	The table that follows provides the components of net periodic benefit expense for the three-month and
	nine-month periods ended September 30, 2014 and 2013.
		Three Months Ended September 30,
		Pension Benefits				Other Postretirement Benefits
	(Thousands of dollars)		2014		2013	2014		2013
	Service cost	$	6,208		7,252		672		1,232
	Interest cost		8,239		8,450		1,278		1,352
	Expected return on plan assets		-8,506		-8,257		–		–
	Amortization of prior service cost		227		262		-20		-35
	Amortization of transitional asset		208		125		1		2
	Recognized actuarial loss		1,735		4,591		59		391
	Special termination benefits		–		849		–		–
	Curtailments		–		1,366		–		-443
	Net periodic benefit expense	$	8,111		14,638		1,990		2,499
		Nine Months Ended September 30,
		Pension Benefits				Other Postretirement Benefits
	(Thousands of dollars)	2014		2013		2014		2013
	Service cost	$	19,048		21,949		2,016		3,629
	Interest cost		24,707		22,581		3,833		3,865
	Expected return on plan assets		-25,514		-21,526		–		–
	Amortization of prior service cost		680		841		-61		-121
	Amortization of transitional asset		628		366		4		6
	Recognized actuarial loss		5,201		12,882		177		1,321
	Special termination benefits		–		849		–		–
	Curtailments		–		1,366		–		-443
	Net periodic benefit expense	$	24,750		39,308		5,969		8,257
	During the nine-month period ended September 30, 2014, the Company made contributions of $42.2 million to its defined benefit pension and postretirement benefit plans.  Remaining funding in 2014 for the Company’s defined benefit pension and postretirement plans is anticipated to be $9.7 million.

Incentive_Plans

Incentive Plans	9 Months Ended
	Sep. 30, 2014
Incentive Plans [Abstract]	'
Incentive Plans	'
	Note H – Incentive Plans
	The costs resulting from all share-based payment transactions are recognized as an expense in the Consolidated Statements of Income using a fair value-based measurement method over the periods that the awards vest.
	The 2012 Annual Incentive Plan (2012 Annual Plan) authorizes the Executive Compensation Committee (the Committee) to establish specific performance goals associated with annual cash awards that may be earned by officers, executives and other key employees.  Cash awards under the 2012 Annual Plan are determined based on the Company’s actual financial and operating results as measured against the performance goals established by the Committee.  The 2012 Long-Term Incentive Plan (2012 Long-Term Plan) authorizes the Committee to make grants of the Company’s Common Stock and other stock-based incentives to employees.  These grants may be in the form of stock options (nonqualified or incentive), stock appreciation rights (SAR), restricted stock, restricted stock units (RSU), performance units, performance shares, dividend equivalents and other stock-based incentives.  The 2012 Long-Term Plan expires in 2022.  A total of 8,700,000 shares are issuable during the life of the 2012 Long-Term Plan, with annual grants limited to 1% of Common shares outstanding.  The Company has an Employee Stock Purchase Plan that permits the issuance of up to 980,000 shares through September 30, 2017.
	Note H – Incentive Plans (Contd.)
	The Company also has a Stock Plan for Non-Employee Directors that permits the issuance of restricted stock and stock options or a combination thereof to the Company’s Directors.
	On February 4, 2014, the Committee granted stock options for 772,900 shares at an exercise price of $55.82 per share.  The Black-Scholes valuation for these awards was $12.84 per option.  The Committee also granted 464,300 performance-based RSU and 233,400 time-based RSU on that date.  The fair value of the performance-based RSU, using a Monte Carlo valuation model, ranged from $33.90 to $51.30 per unit.  The fair value of time-based RSU was estimated based on the fair market value of the Company’s stock on the date of grant, which  was $55.82 per share.  Additionally, on February 4, 2014, the Committee granted 183,200 SAR and 170,900 units of cash-settled RSU (RSU-C) to certain employees.  The SAR and RSU-C are to be settled in cash, net of applicable income taxes, and are accounted for as liability-type awards.  The initial fair value of these SAR was equivalent to the stock options granted, while the initial value of RSU-C was equivalent to equity-settled restricted stock units granted.  On February 5, 2014, the Committee granted 43,848 shares of time-based RSU to the Company’s Directors under the Non-employee Director Plan.  These shares vest on the third anniversary of the date of grant. The fair value of these awards was estimated at $55.20 per unit.
	Beginning January 1, 2014, all stock option exercises are non-cash transactions for the Company.  The employee will receive net shares, after applicable withholding taxes, upon each exercise.  Cash received from options exercised under all share-based payment arrangements for the nine-month period ended September 30, 2013 was $2.8 million.  The actual income tax benefit realized for the tax deductions from option exercises of the share-based payment arrangements totaled $3.8 million and $6.3 million for the nine-month periods ended September 30, 2014 and 2013, respectively.
	Amounts recognized in the financial statements with respect to share-based plans are as follows:
		Nine Months Ended
		September 30,
	(Thousands of dollars)	2014		2013
	Compensation charged against income before tax benefit	$	45,373		51,085
	Related income tax benefit recognized in income		14,036		14,945

Earnings_per_Share

Earnings per Share	9 Months Ended
	Sep. 30, 2014
Earnings per Share [Abstract]	'
Earnings per Share	'
	Note I – Earnings per Share
	Net income was used as the numerator in computing both basic and diluted income per Common share for the
	three-month and nine-month periods ended September 30, 2014 and 2013.  The following table reconciles the weighted-average shares outstanding used for these computations.
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
	(Weighted-average shares)	2014		2013		2014	2013
	Basic method	177,535,503		186,938,328		179,259,573	188,914,000
	Dilutive stock options and restricted stock units	1,320,575		1,399,183		1,318,512	1,331,166
	Diluted method	178,856,078		188,337,511		180,578,085	190,245,166
	The following table reflects certain options to purchase shares of common stock that were outstanding during the 2014 and 2013 periods but were not included in the computation of diluted EPS above because the incremental shares from assumed conversion were antidilutive.
		Three Months Ended					Nine Months Ended
			September 30,				September 30,
			2014		2013		2014		2013
	Antidilutive stock options excluded from diluted shares		1,998,009			1,165,464		1,855,667		941,155
	Weighted average price of these options	$	58.53		$	54.56	$	58.80	$	54.40

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	Note J – Income Taxes
	The Company’s effective income tax rate generally exceeds the statutory U.S. tax rate of 35%.  The effective tax rate is calculated as the amount of income tax expense divided by income before income tax expense.  For the three-month and nine-month periods in 2014 and 2013, the Company’s effective income tax rates were as follows:
		2014		2013
	Three months ended September 30	31.6	%	42.8	%
	Nine months ended September 30	43.7	%	44.6	%
	The effective tax rates for most periods presented exceeded the U.S. statutory tax rate of 35% due to several factors, including:  the effects of income generated in foreign tax jurisdictions, certain of which have income tax rates that are higher than the U.S. Federal rate; U.S. state tax expense; and certain expenses, including exploration and other expenses in certain foreign jurisdictions, for which no income tax benefits are available or are not presently being recorded due to a lack of reasonable certainty of adequate future revenue against which to utilize these expenses as deductions. The effective tax rate for the three-month period ended September 30, 2014 was below the U.S. statutory tax rate due to a $34.3 million U.S. tax benefit associated with costs in Kurdistan recognized upon wind-up of operations in that country.  Excluding the benefit for Kurdistan, the effective tax rate for the three-month period ended September 30, 2014 was 40.3%.
	The Company’s tax returns in multiple jurisdictions are subject to audit by taxing authorities.  These audits often take years to complete and settle.  Although the Company believes that recorded liabilities for unsettled issues are adequate, additional gains or losses could occur in future years from resolution of outstanding unsettled matters.  As of September 30, 2014, the earliest years remaining open for audit and/or settlement in our major taxing jurisdictions are as follows: United States – 2010; Canada – 2008; United Kingdom – 2012; and
	Malaysia – 2007.

Financial_Instruments_and_Risk

Financial Instruments and Risk Management	9 Months Ended
	Sep. 30, 2014
Financial Instruments and Risk Management [Abstract]	'
Financial Instruments and Risk Management	'
	Note K – Financial Instruments and Risk Management
	Murphy utilizes derivative instruments to manage certain risks related to commodity prices, foreign currency exchange rates and interest rates.  The use of derivative instruments for risk management is covered by operating policies and is closely monitored by the Company’s senior management.  The Company does not hold any derivatives for speculative purposes, and it does not use derivatives with leveraged or complex features.  Derivative instruments are traded primarily with creditworthy major financial institutions or over national exchanges.  The Company has a risk management control system to monitor commodity price risks and any derivatives obtained to manage a portion of such risks.  For accounting purposes, the Company has not designated commodity and foreign currency derivative contracts as hedges, and therefore, it recognizes all unrealized gains and losses on these derivative contracts in its Consolidated Statements of Income.  Certain interest rate derivative contracts were accounted for as hedges and the loss associated with settlement of these contracts was deferred in Accumulated Other Comprehensive Income.  This loss is being reclassified to Interest Expense in the Consolidated Statements of Income over the period until the associated notes mature in 2022.
	Commodity Purchase Price Risks
	The Company is subject to commodity price risk related to crude oil it will produce and sell in the remainder of 2014.  The Company has entered into a series of West Texas Intermediate (WTI) crude oil fixed-price swap financial contracts covering a portion of its Eagle Ford Shale production from October 2014 through December 2014.  Under these contracts, which mature monthly, the Company will pay the average monthly price in effect and will receive the fixed contract prices.  WTI open contracts at September 30, 2014 were as follows:
		Volumes
	Dates	(barrels per day)		Swap Prices
	October – December 2014	22,000		$    93.26	per barrel
	The fair value of these open commodity derivative contracts was a net asset of $6.2 million at September 30, 2014.
	Note K – Financial Instruments and Risk Management (Contd.)
	Foreign Currency Exchange Risks
	The Company is subject to foreign currency exchange risk associated with operations in countries outside the United States.  Short-term derivative instruments were outstanding at September  30, 2013 to manage the risk of certain future income taxes that are payable in Malaysian ringgits.  The equivalent U.S. dollars of Malaysian ringgit derivative contracts open at September 30, 2013 were approximately $76.0 million.  There were no open ringgit contracts at September 30, 2014. Short-term derivative instrument contracts totaling $15.0 million and $28.0 million U.S. dollars were also outstanding at September 30, 2014 and 2013, respectively, to manage the risk of certain U.S. dollar accounts receivable associated with sale of crude oil production in Canada.  The impact from marking to market these foreign currency derivative contracts reduced income before taxes by $0.2 million and $4.1 million for the nine-month periods ended September 30, 2014 and September 30, 2013, respectively.
	At September 30, 2014 and December 31, 2013, the fair value of derivative instruments not designated as hedging instruments are presented in the following table.
		30-Sep-14					31-Dec-13
	(Thousands of dollars)	Asset (Liability) Derivatives					Asset (Liability) Derivatives
	Type of Derivative Contract	Balance Sheet Location		Fair Value			Balance Sheet Location		Fair Value
	Commodity	Accounts receivable		$	6,152		Accounts receivable		$	1,970
	Foreign Currency	Accounts payable			-189		Accounts payable			-1,038
	For the three-month and nine-month periods ended September 30, 2014 and 2013, the gains and losses recognized in the Consolidated Statements of Income for derivative instruments not designated as hedging instruments are presented in the following table.
					Gain (Loss)
				Three Months Ended					Nine Months Ended
	(Thousands of dollars)	Statement of Income		September 30,					September 30,
	Type of Derivative Contract	Location			2014		2013		2014		2013
	Commodity	Sales and other operating revenues		$	37,305		-1,305		-17,150		-1,305
	Commodity	Discontinued operations			–		2,980		–		1,604
	Foreign exchange	Interest and other income (loss)			-838		-2,557		4,062		-6,703
				$	36,467		-882		-13,088		-6,404
	Interest Rate Risks
	In 2011 the Company entered into a series of derivative contracts known as forward starting interest rate swaps to manage interest rate risk associated with $350 million of 10-year notes that were sold in May 2012.  These interest rate swaps matured in May 2012.  Under hedge accounting rules, the Company deferred a loss on these contracts to match the payment of interest on these notes through 2022.  During each of the nine-month periods ended September 30, 2014 and 2013, $2.2 million of the deferred loss on the interest rate swaps was charged to income as a component of Interest Expense.  The remaining loss deferred on these matured contracts at September 30, 2014 was $22.6 million, which is recorded, net of income taxes of $7.9 million, in Accumulated Other Comprehensive Income in the Consolidated Balance Sheet.  The Company expects to charge approximately $0.8 million of this deferred loss to income in the form of interest expense during the remaining three months of 2014.
	The Company carries certain assets and liabilities at fair value in its Consolidated Balance Sheets.  The fair value hierarchy is based on the quality of inputs used to measure fair value, with Level 1 being the highest quality and Level 3 being the lowest quality.  Level 1 inputs are quoted prices in active markets for identical assets or liabilities.  Level 2 inputs are observable inputs other than quoted prices included within Level 1.  Level 3 inputs are unobservable inputs which reflect assumptions about pricing by market participants.
	Note K – Financial Instruments and Risk Management (Contd.)
	The carrying value of assets and liabilities recorded at fair value on a recurring basis at September 30, 2014 and December 31, 2013 are presented in the following table.
		30-Sep-14						31-Dec-13
	(Thousands of dollars)	Level 1		Level 2	Level 3	Total		Level 1	Level 2	Level 3	Total
	Assets:
	Commodity derivative contracts	$	–	6,152	–	6,152		–	1,970	–	1,970
	Liabilities:
	Nonqualified employee savings	$	13,979	–	–	13,979		13,267	–	–	13,267
	plans
	Foreign currency exchange		–	189	–	189		–	1,038	–	1,038
	derivative contracts
		$	13,979	189	–	14,168		13,267	1,038	–	14,305
	The fair value of West Texas Intermediate (WTI) crude oil derivative contracts was determined based on active market quotes for WTI crude oil at the balance sheet dates.  The fair value of foreign exchange derivative contracts was based on market quotes for similar contracts at the balance sheet dates.  The income effect of changes in the fair value of crude oil derivative contracts is recorded in Sales and Other Operating Revenues in the Consolidated Statements of Income and changes in fair value of foreign exchange derivative contracts is recorded in Interest and Other Income.  The nonqualified employee savings plan is an unfunded savings plan through which participants seek a return via phantom investments in equity securities and/or mutual funds.  The fair value of this liability was based on quoted prices for these equity securities and mutual funds.  The income effect of changes in the fair value of the nonqualified employee savings plan is recorded in Selling and General Expenses in the Consolidated Statements of Income.
	The Company offsets certain assets and liabilities related to derivative contracts when the legal right of offset exists.  There were no offsetting positions recorded at September 30, 2014 and December 31, 2013.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2014
Accumulated Other Comprehensive Income [Abstract]	'
Accumulated Other Comprehensive Income	'
	Note L – Accumulated Other Comprehensive Income
	The components of Accumulated Other Comprehensive Income (Loss) (AOCI) on the Consolidated Balance Sheets at December 31, 2013 and September 30, 2014 and the changes during the nine-month period ended September 30, 2014 are presented net of taxes in the following table.
						Deferred
						Loss on
			Foreign	Retirement and		Interest
			Currency	Postretirement		Rate
			Translation	Benefit Plan		Derivative
	(Thousands of dollars)		Gains (Losses)1	Adjustments1		Hedges1		Total1
	Balance at December 31, 2013	$	305,192	-116,956		-16,117		172,119
	Components of other comprehensive income (loss):
	Before reclassifications to income		-195,374	306		–		-195,068
	Reclassifications to income		–	3,690	2	1,450	3	5,140
	Net other comprehensive income (loss)		-195,374	3,996		1,450		-189,928
	Balance at September 30, 2014	$	109,818	-112,960		-14,667		-17,809
	1All amounts are presented net of income taxes.
	2Reclassifications before taxes of $5,637 for the nine-month period ended September 30, 2014 are included in the computation of net periodic benefit expense.  See Note G for additional information.  Related income taxes of $1,947 for the nine-month period ended September 30, 2014 are included in Income tax expense.
	3Reclassifications before taxes of $2,222 for the nine-month period ended September 30, 2014 are included in Interest expense.  Related income taxes of $772 for the nine-month period ended September 30, 2014 are included in Income tax expense.

Environmental_and_Other_Contin

Environmental and Other Contingencies	9 Months Ended
	Sep. 30, 2014
Environmental and Other Contingencies [Abstract]	'
Environmental and Other Contingencies	'
	Note M – Environmental and Other Contingencies
	The Company’s operations and earnings have been and may be affected by various forms of governmental action both in the United States and throughout the world.  Examples of such governmental action include, but are by no means limited to: tax increases and retroactive tax claims; royalty and revenue sharing increases; import and export controls; price controls; currency controls; allocation of supplies of crude oil and petroleum products and other goods; expropriation of property; restrictions and preferences affecting the issuance of oil and gas or mineral leases; restrictions on drilling and/or production; laws and regulations intended for the promotion of safety and the protection and/or remediation of the environment; governmental support for other forms of energy; and laws and regulations affecting the Company’s relationships with employees, suppliers, customers, stockholders and others. Because governmental actions are often motivated by political considerations and may be taken without full consideration of their consequences, and may be taken in response to actions of other governments, it is not practical to attempt to predict the likelihood of such actions, the form the actions may take or the effect such actions may have on the Company.
	Murphy and other companies in the oil and gas industry are subject to numerous federal, state, local and foreign laws and regulations dealing with the environment. Violation of federal or state environmental laws, regulations and permits can result in the imposition of significant civil and criminal penalties, injunctions and construction bans or delays.  A discharge of hazardous substances into the environment could, to the extent such event is not insured, subject the Company to substantial expense, including both the cost to comply with applicable regulations and claims by neighboring landowners and other third parties for any personal injury and property damage that might result.
	The Company currently owns or leases, and has in the past owned or leased, properties at which hazardous substances have been or are being handled. Although the Company has used operating and disposal practices that were standard in the industry at the time, hazardous substances may have been disposed of or released on or under the properties owned or leased by the Company or on or under other locations where these wastes have
	Note M – Environmental and Other Contingencies (Contd.)
	been taken for disposal. In addition, many of these properties have been operated by third parties whose treatment and disposal or release of hydrocarbons or other wastes were not under Murphy’s control. Under existing laws the Company could be required to remove or remediate previously disposed wastes (including wastes disposed of or released by prior owners or operators), to clean up contaminated property (including contaminated groundwater) or to perform remedial plugging operations to prevent future contamination.  Certain of these historical properties are in various stages of negotiation, investigation, and/or cleanup and the Company is investigating the extent of any such liability and the availability of applicable defenses.  The Company has retained certain liabilities related to environmental matters at formerly owned U.S. refineries that were sold in 2011.  The Company also obtained insurance covering certain levels of environmental exposures related to past operations of these refineries.  The Company believes costs related to these sites will not have a material adverse affect on Murphy’s net income, financial condition or liquidity in a future period.
	The U.S. Environmental Protection Agency (EPA) formerly considered the Company to be a Potentially Responsible Party (PRP) at one Superfund site.  Based on evidence provided by the Company, the EPA has determined that the Company is no longer considered a PRP at this site.
	There is the possibility that environmental expenditures could be required at currently unidentified sites, and new or revised regulations could require additional expenditures at known sites. However, based on information currently available to the Company, the amount of future remediation costs incurred at known or currently unidentified sites is not expected to have a material adverse effect on the Company’s future net income, cash flows or liquidity.
	Murphy and its subsidiaries are engaged in a number of other legal proceedings, all of which Murphy considers routine and incidental to its business.  Based on information currently available to the Company, the ultimate resolution of these matters is not expected to have a material adverse effect on the Company’s net income, financial condition or liquidity in a future period.

Commitments

Commitments	9 Months Ended
	Sep. 30, 2014
Commitments [Abstract]	'
Commitments	'
	Note N – Commitments
	The Company has entered into forward sales contracts to mitigate the price risk for a portion of its 2014 heavy oil and 2014 through 2016 natural gas sales volumes in Western Canada.  The heavy oil blend sales contracts call for deliveries of 4,000 barrels per day in October through December 2014 that achieve netback values that average Cdn$53.63 per barrel.  The natural gas contracts call for deliveries from October through December 2014 that average approximately 110 million cubic feet per day at prices averaging Cdn$4.04 per MCF, with the contracts calling for delivery at the NOVA inventory transfer sales point.  The Company also has natural gas sales contracts calling for deliveries in 2015 and 2016 of approximately 65 million cubic feet per day and 10 million cubic feet per day, respectively, at prices that average Cdn$4.13 per MCF for both periods.  These oil and natural gas contracts have been accounted for as normal sales for accounting purposes.

New_Accounting_Principles

New Accounting Principles	9 Months Ended
	Sep. 30, 2014
New Accounting Principles [Abstract]	'
New Accounting Principles	'
	Note O – New Accounting Principles
	In August 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), requiring, when applicable, disclosures regarding uncertainties about an entity’s ability to continue as a going concern.  During the preparation of quarterly and annual financial statements, management should evaluate whether conditions or events exist that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued.  If this evaluation indicates that it is probable that an entity will be unable to meet its obligations when they become due within one year of the financial statement issuance date, management must evaluate whether its mitigation plans will alleviate the substantial doubt of continuing as a going concern.  If substantial doubt exists, regardless of whether the mitigation plan alleviates the concern, additional disclosures are required in the financial statements addressing the conditions or events that raise substantial doubt, management’s evaluation of the significance of those conditions or events, and management’s mitigation plans.  This new guidance will become effective for the Company for all reporting periods beginning in 2016.  Early application is permitted.  Company management currently does not expect that this new guidance will have a significant effect on its consolidated financial statements when adopted.
	Note O – New Accounting Principles (Contd.)
	In May 2014, the FASB issued an ASU addressing recognition of revenue from contracts with customers.  When adopted, this guidance will supersede current revenue recognition rules currently followed by the Company.  The core principle of the new ASU is that an entity should recognize revenue to depict the transfer of promised goods or services to customers that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  The ASU provides five steps for an entity to apply in recognizing revenue, including:  (1) identify the customer contract; (2) identify the contractual performance obligations; (3) determine the transaction price; (4) allocate the transaction price to the contractual performance obligations; and (5) recognize revenue when the performance obligation is satisfied.  The new ASU also requires additional disclosures regarding significant contracts with customers.  The new ASU will be effective for the Company on January 1, 2017, and early adoption is not permitted.  For transition purposes, the new ASU permits either (a) a retrospective application to all years presented, or (b) an alternative transition method whereby the new guidance is only applied to contracts not completed at the date of initial application.  The vast majority of the Company’s revenue is recognized when oil and natural gas produced by the Company is delivered and legal ownership of these products has transferred to the purchaser.  Based on the Company’s present understanding, the accounting for oil and gas sales revenue is not expected to be significantly altered by the new ASU.  The Company has not yet selected which transition method it will use.
	In April 2014, the FASB issued an ASU that will change the requirements for reporting discontinued operations after its adoption.  Under the new guidance, only disposals of components of an entity that represent a strategic shift that has or will have a major effect on an entity’s operations and financial results will be reported as discontinued operations in the financial statements.  Under prior guidance, a component of an entity that is a reportable segment, an operating segment, a reporting unit, a subsidiary, or an asset group that has been or will be eliminated from ongoing operations and for which the Company will not have any significant continuing involvement with the component after the disposal was generally reported as discontinued operations.  The FASB anticipates that fewer component disposals will be reported as discontinued operations under the new guidance.  The new guidance also requires expanded disclosures about discontinued operations.  The new guidance will be effective for the Company beginning in 2015.  The new guidance is not to be applied to a component that is classified as held for sale before the effective date of the guidance.

Business_Segments

Business Segments	9 Months Ended
	Sep. 30, 2014
Business Segments [Abstract]	'
Business Segments	'
	Note P – Business Segments
					Three Months Ended		Three Months Ended
		Total Assets			30-Sep-14		September 30, 20131
		at September 30,			External	Income	External	Income
	(Millions of dollars)	2014			Revenues	(Loss)	Revenues	(Loss)
	Exploration and production2
	United States	$	5,620.2		667.6	130.5	512.0	151.3
	Canada		3,933.0		246.9	40.4	316.4	77.3
	Malaysia		6,100.0		516.4	148.0	538.0	183.8
	Other		135.1		–	-7.5	–	-148.2
	Total exploration and production		15,788.3		1,430.9	311.4	1,366.4	264.2
	Corporate		1,254.4		2.1	-40.4	53.1	0.8
	Assets/revenue/income from continuing operations		17,042.7		1,433.0	271.0	1,419.5	265.0
	Discontinued operations, net of tax		803.1		–	-25.3	–	19.8
	Total	$	17,845.8		1,433.0	245.7	1,419.5	284.8
					Nine Months Ended		Nine Months Ended
					30-Sep-14		September 30, 20131
					External	Income	External	Income
	(Millions of dollars)				Revenues	(Loss)	Revenues	(Loss)
	Exploration and production2
	United States			$	1,660.4	335.3	1,365.1	368.0
	Canada				807.4	160.9	894.0	142.3
	Malaysia				1,592.2	482.6	1,652.7	602.5
	Other				-0.2	-256	68.9	-326.5
	Total exploration and production				4,059.8	722.8	3,980.7	786.3
	Corporate				8.6	-139.8	61.7	-78.7
	Revenue/income from continuing operations				4,068.4	583.0	4,042.4	707.6
	Discontinued operations, net of tax				–	-52.6	–	340.4
	Total			$	4,068.4	530.4	4,042.4	1,048.0
	1Reclassified to conform to current presentation.
	2Additional details about results of oil and gas operations are presented in the tables on pages 27 and 28.
	Due to the shutdown of production operations in Republic of the Congo, the Company now includes the results of these operations in the Other exploration and production segment in the above table.

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2014
Property, Plant And Equipment [Abstract]	'
Net Changes in Capitalized Exploratory Well Costs	'
	(Thousands of dollars)	2014			2013
	Beginning balance at January 1	$	393,030		445,697
	Additions pending the determination of proved reserves		13,595		28,168
	Reclassifications to proved properties based on the determination of proved		–		-52,865
	reserves
	Balance at September 30	$	406,625		421,000
Aging of Capitalized Exploratory Well Costs	'
			September 30,
		2014					2013
	(Thousands of dollars)	Amount		No. of Wells		No. of Projects	Amount		No. of Wells	No. of Projects
	Aging of capitalized well costs:
	Zero to one year	$	32,192	2		1	$	36,424	2	2
	One to two years		36,676	2		1		51,444	6	–
	Two to three years		51,898	6		–		35,504	3	3
	Three years or more		285,859	22		7		297,628	27	5
		$	406,625	32		9	$	421,000	38	10

Discontinued_Operations_Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2014
Discontinued Operations [Abstract]	'
Results of Operations Associated with Discontinued Operations	'
			Three Months		Nine Months
			Ended September 30,		Ended September 30,
	(Thousands of dollars)		2014	2013	2014	2013
	Revenues	$	509,037	4,502,100	2,752,557	15,981,683
	Income before income taxes, including pretax gain on	$	-27,163	38,329	-61,396	355,668
	disposals of $130,568 during the nine-month period in 2013
	Income tax expense (benefit)		-1,813	18,598	-8,757	15,266
	Income (loss) from discontinued operations	$	-25,350	19,731	-52,639	340,402
Major Categories of Assets and Liabilities Reflected as Held for Sale	'
		September 30,		December 31,
	(Millions of dollars)	2014		2013
	Current assets
	Cash	$	197,607	301,302
	Accounts receivable		378,804	302,059
	Inventories		85,757	254,240
	Other		73,707	86,131
	Total current assets held for sale	$	735,875	943,732
	Non-current assets
	Property, plant and equipment, net	$	37,304	360,347
	Other		23,203	21,057
	Total non-current assets held for sale	$	60,507	381,404
	Current liabilities
	Accounts payable	$	185,846	637,432
	Other		–	1,708
	Total current liabilities associated with assets held for sale	$	185,846	639,140
	Non-current liabilities
	Deferred income taxes payable	$	70,424	68,096
	Other		4,613	27,448
	Total non-current liabilities associated with assets held for sale	$	75,037	95,544

Cash_Flow_Disclosures_Tables

Cash Flow Disclosures (Tables)	9 Months Ended
	Sep. 30, 2014
Cash Flow Disclosures [Abstract]	'
Cash Flow Activities	'
			Nine Months
			Ended September 30,
	(Thousands of dollars)	2014		2013
	Net (increase) decrease in operating working capital other than
	cash and cash equivalents:
	Decrease (increase) in accounts receivable	$	29,586	-75,735
	Increase in inventories		-3,326	-51,279
	Increase in prepaid expenses		-2,235	-52,793
	Decrease in deferred income tax assets		1,290	40,145
	Increase (decrease) in accounts payable and accrued liabilities		59,369	-84,344
	Increase (decrease) in current income tax liabilities		-77,744	199,461
	Total	$	6,940	-24,545
	Supplementary disclosures (including discontinued operations):
	Cash income taxes paid	$	438,309	414,676
	Interest paid, net of amounts capitalized		44,657	1,077

Employee_and_Retiree_Benefit_P1

Employee and Retiree Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2014
Employee and Retiree Benefit Plans [Abstract]	'
Components of Net Periodic Benefit Expense	'
		Three Months Ended September 30,
		Pension Benefits				Other Postretirement Benefits
	(Thousands of dollars)		2014		2013	2014		2013
	Service cost	$	6,208		7,252		672		1,232
	Interest cost		8,239		8,450		1,278		1,352
	Expected return on plan assets		-8,506		-8,257		–		–
	Amortization of prior service cost		227		262		-20		-35
	Amortization of transitional asset		208		125		1		2
	Recognized actuarial loss		1,735		4,591		59		391
	Special termination benefits		–		849		–		–
	Curtailments		–		1,366		–		-443
	Net periodic benefit expense	$	8,111		14,638		1,990		2,499
		Nine Months Ended September 30,
		Pension Benefits				Other Postretirement Benefits
	(Thousands of dollars)	2014		2013		2014		2013
	Service cost	$	19,048		21,949		2,016		3,629
	Interest cost		24,707		22,581		3,833		3,865
	Expected return on plan assets		-25,514		-21,526		–		–
	Amortization of prior service cost		680		841		-61		-121
	Amortization of transitional asset		628		366		4		6
	Recognized actuarial loss		5,201		12,882		177		1,321
	Special termination benefits		–		849		–		–
	Curtailments		–		1,366		–		-443
	Net periodic benefit expense	$	24,750		39,308		5,969		8,257

Incentive_Plans_Tables

Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2014
Incentive Plans [Abstract]	'
Share-Based Plans, Amounts Recognized	'
		Nine Months Ended
		September 30,
	(Thousands of dollars)	2014		2013
	Compensation charged against income before tax benefit	$	45,373		51,085
	Related income tax benefit recognized in income		14,036		14,945

Earnings_per_Share_Tables

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings per Share [Abstract]	'
Weighted-Average Shares Outstanding for Computation of Basic and Diluted Income per Common Share	'
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
	(Weighted-average shares)	2014		2013		2014	2013
	Basic method	177,535,503		186,938,328		179,259,573	188,914,000
	Dilutive stock options and restricted stock units	1,320,575		1,399,183		1,318,512	1,331,166
	Diluted method	178,856,078		188,337,511		180,578,085	190,245,166
Anti Dilutive Securities Not Included in Computation of Diluted EPS	'
		Three Months Ended					Nine Months Ended
			September 30,				September 30,
			2014		2013		2014		2013
	Antidilutive stock options excluded from diluted shares		1,998,009			1,165,464		1,855,667		941,155
	Weighted average price of these options	$	58.53		$	54.56	$	58.80	$	54.40

Income_Taxes_Tables

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2014
Income Taxes [Abstract]	'
Effective Income Tax Rates	'
		2014		2013
	Three months ended September 30	31.6	%	42.8	%
	Nine months ended September 30	43.7	%	44.6	%

Financial_Instruments_and_Risk1

Financial Instruments and Risk Management (Tables)	9 Months Ended
	Sep. 30, 2014
Financial Instruments and Risk Management [Abstract]	'
WTI Open Contracts	'
		Volumes
	Dates	(barrels per day)		Swap Prices
	October – December 2014	22,000		$    93.26	per barrel
Fair Value of Derivative Instruments Not Designated as Hedging Instruments	'
		30-Sep-14					31-Dec-13
	(Thousands of dollars)	Asset (Liability) Derivatives					Asset (Liability) Derivatives
	Type of Derivative Contract	Balance Sheet Location		Fair Value			Balance Sheet Location		Fair Value
	Commodity	Accounts receivable		$	6,152		Accounts receivable		$	1,970
	Foreign Currency	Accounts payable			-189		Accounts payable			-1,038
Recognized Gains and Losses for Derivative Instruments Not Designated as Hedging Instruments	'
					Gain (Loss)
				Three Months Ended					Nine Months Ended
	(Thousands of dollars)	Statement of Income		September 30,					September 30,
	Type of Derivative Contract	Location			2014		2013		2014		2013
	Commodity	Sales and other operating revenues		$	37,305		-1,305		-17,150		-1,305
	Commodity	Discontinued operations			–		2,980		–		1,604
	Foreign exchange	Interest and other income (loss)			-838		-2,557		4,062		-6,703
				$	36,467		-882		-13,088		-6,404
Carrying Value of Assets and Liabilities Recorded at Fair Value on Recurring Basis	'
		30-Sep-14						31-Dec-13
	(Thousands of dollars)	Level 1		Level 2	Level 3	Total		Level 1	Level 2	Level 3	Total
	Assets:
	Commodity derivative contracts	$	–	6,152	–	6,152		–	1,970	–	1,970
	Liabilities:
	Nonqualified employee savings	$	13,979	–	–	13,979		13,267	–	–	13,267
	plans
	Foreign currency exchange		–	189	–	189		–	1,038	–	1,038
	derivative contracts
		$	13,979	189	–	14,168		13,267	1,038	–	14,305

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2014
Accumulated Other Comprehensive Income [Abstract]	'
Components of Accumulated Other Comprehensive Income	'
						Deferred
						Loss on
			Foreign	Retirement and		Interest
			Currency	Postretirement		Rate
			Translation	Benefit Plan		Derivative
	(Thousands of dollars)		Gains (Losses)1	Adjustments1		Hedges1		Total1
	Balance at December 31, 2013	$	305,192	-116,956		-16,117		172,119
	Components of other comprehensive income (loss):
	Before reclassifications to income		-195,374	306		–		-195,068
	Reclassifications to income		–	3,690	2	1,450	3	5,140
	Net other comprehensive income (loss)		-195,374	3,996		1,450		-189,928
	Balance at September 30, 2014	$	109,818	-112,960		-14,667		-17,809
	1All amounts are presented net of income taxes.
	2Reclassifications before taxes of $5,637 for the nine-month period ended September 30, 2014 are included in the computation of net periodic benefit expense.  See Note G for additional information.  Related income taxes of $1,947 for the nine-month period ended September 30, 2014 are included in Income tax expense.
	3Reclassifications before taxes of $2,222 for the nine-month period ended September 30, 2014 are included in Interest expense.  Related income taxes of $772 for the nine-month period ended September 30, 2014 are included in Income tax expense.

Business_Segments_Tables

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2014
Business Segments [Abstract]	'
Segment Reporting Information by Business Segments	'
					Three Months Ended		Three Months Ended
		Total Assets			30-Sep-14		September 30, 20131
		at September 30,			External	Income	External	Income
	(Millions of dollars)	2014			Revenues	(Loss)	Revenues	(Loss)
	Exploration and production2
	United States	$	5,620.2		667.6	130.5	512.0	151.3
	Canada		3,933.0		246.9	40.4	316.4	77.3
	Malaysia		6,100.0		516.4	148.0	538.0	183.8
	Other		135.1		–	-7.5	–	-148.2
	Total exploration and production		15,788.3		1,430.9	311.4	1,366.4	264.2
	Corporate		1,254.4		2.1	-40.4	53.1	0.8
	Assets/revenue/income from continuing operations		17,042.7		1,433.0	271.0	1,419.5	265.0
	Discontinued operations, net of tax		803.1		–	-25.3	–	19.8
	Total	$	17,845.8		1,433.0	245.7	1,419.5	284.8
					Nine Months Ended		Nine Months Ended
					30-Sep-14		September 30, 20131
					External	Income	External	Income
	(Millions of dollars)				Revenues	(Loss)	Revenues	(Loss)
	Exploration and production2
	United States			$	1,660.4	335.3	1,365.1	368.0
	Canada				807.4	160.9	894.0	142.3
	Malaysia				1,592.2	482.6	1,652.7	602.5
	Other				-0.2	-256	68.9	-326.5
	Total exploration and production				4,059.8	722.8	3,980.7	786.3
	Corporate				8.6	-139.8	61.7	-78.7
	Revenue/income from continuing operations				4,068.4	583.0	4,042.4	707.6
	Discontinued operations, net of tax				–	-52.6	–	340.4
	Total			$	4,068.4	530.4	4,042.4	1,048.0
	1Reclassified to conform to current presentation.
	2Additional details about results of oil and gas operations are presented in the tables on pages 27 and 28.

Property_Plant_and_Equipment_N

Property, Plant and Equipment (Narrative) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
	site				Malaysia [Member]	United States [Member]	Brunei	Scenario, Forecast [Member]	Assets Held For Sale Phase One [Member]	Assets Held For Sale Phase Two [Member]
								Malaysia [Member]	Scenario, Forecast [Member]	Malaysia [Member]
									Malaysia [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]	'	'	'	'	'	'	'	'	'	'
Total capitalized exploratory well costs	$406,625,000	$393,030,000	$421,000,000	$445,697,000	'	'	'	'	'	'
Exploratory well costs capitalized more than one year	374,400,000	'	'	'	214,800,000	125,900,000	33,700,000	'	'	'
Number of drilling areas where appraisal/development is planned or under stages of completion	3	'	'	'	'	'	'	'	'	'
Percentage of property held for sale	'	'	'	'	30.00%	'	'	'	20.00%	10.00%
Sale price of property	'	'	'	'	'	'	'	$2,000,000,000	'	'

Recovered_Sheet1

Property, Plant And Equipment (Net Changes in Capitalized Exploratory Well Costs (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Property, Plant And Equipment [Abstract]	'	'
Beginning balance at January 1	$393,030	$445,697
Additions pending the determination of proved reserves	13,595	28,168
Reclassifications to proved properties based on the determination of proved reserves	'	-52,865
Ending balance at September 30	$406,625	$421,000

Property_Plant_And_Equipment_A

Property, Plant And Equipment (Aging of Capitalized Exploratory Well Costs) (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
	item	item
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]	'	'	'	'
Amount	$406,625	$421,000	$393,030	$445,697
No. of Wells	32	38	'	'
No. of Projects	9	10	'	'
Zero to one year [Member]	'	'	'	'
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]	'	'	'	'
Amount	32,192	36,424	'	'
No. of Wells	2	2	'	'
No. of Projects	1	2	'	'
One to two years [Member]	'	'	'	'
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]	'	'	'	'
Amount	36,676	51,444	'	'
No. of Wells	2	6	'	'
No. of Projects	1	'	'	'
Two to three years [Member]	'	'	'	'
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]	'	'	'	'
Amount	51,898	35,504	'	'
No. of Wells	6	3	'	'
No. of Projects	'	3	'	'
Three years or more [Member]	'	'	'	'
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]	'	'	'	'
Amount	$285,859	$297,628	'	'
No. of Wells	22	27	'	'
No. of Projects	7	5	'	'

Inventories_Details

Inventories (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Inventories [Abstract]	'	'
Carrying value of inventories under LIFO method	$133	$268.60

Discontinued_Operations_Narrat

Discontinued Operations (Narrative) (Details) (USD $)	9 Months Ended		3 Months Ended	9 Months Ended	0 Months Ended
	Sep. 30, 2013		Sep. 30, 2014	Sep. 30, 2013	Oct. 01, 2014	Aug. 30, 2013	Aug. 30, 2013
			Milford Haven, Wales Refinery [Member]	United Kingdon Upstream Operations [Member]	Subsequent Event [Member]	Murphy USA Inc [Member]	Murphy USA Inc [Member]
						item
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'		'	'	'	'	'
Sales proceeds	$282,202,000	[1]	'	'	$232,700,000	'	'
Common stock outstanding	'		'	'	'	'	100.00%
Number of production facilities sold	'		'	'	'	2	'
After tax gain on sale of oil and natural gas production	'		$98,700,000	$216,200,000	'	'	'
[1]	Reclassified to conform to current presentation - See Note D.

Discontinued_Operations_Result

Discontinued Operations (Results of Operations Associated with Discontinued Operations) (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013		Sep. 30, 2014	Sep. 30, 2013
Discontinued Operations [Abstract]	'	'		'	'
Revenues	$509,037	$4,502,100		$2,752,557	$15,981,683
Income before income taxes, including pretax gain on disposals of $130,568 during the nine month period in 2013	-27,163	38,329		-61,396	355,668
Income tax expense (benefit)	-1,813	18,598		-8,757	15,266
Income (loss) from discontinued operations	-25,350	19,731	[1]	-52,639	340,402	[1]
Gain on disposal	'	'		'	$130,568
[1]	Reclassified to conform to current presentation - See Note D.

Discontinued_Operations_Major_

Discontinued Operations (Major Categories of Assets and Liabilities Reflected as Held for Sale) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Accounts receivable	$970,286,000	$999,872,000
Held for sale assets of U.K. oil and gas operations	735,875,000	943,732,000
Property, plant and equipment, net	14,372,837,000	13,481,055,000
Other	87,106,000	98,123,000
Total non-current assets held for sale	60,507,000	381,404,000
Total current liabilities associated with assets held for sale	185,846,000	639,140,000
Deferred income taxes payable	1,519,677,000	1,466,100,000
Other	344,301,000	339,028,000
Total non-current liabilities associated with assets held for sale	75,037,000	95,544,000
UK Refining And Marketing Operations [Member]	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Cash	197,607,000,000	301,302,000,000
Accounts receivable	378,804,000,000	302,059,000,000
Inventories	85,757,000,000	254,240,000,000
Other	73,707,000,000	86,131,000,000
Held for sale assets of U.K. oil and gas operations	735,875,000,000	943,732,000,000
Property, plant and equipment, net	37,304,000,000	360,347,000,000
Other	23,203,000,000	21,057,000,000
Total non-current assets held for sale	60,507,000,000	381,404,000,000
Accounts payable	185,846,000,000	637,432,000,000
Other	'	1,708,000,000
Total current liabilities associated with assets held for sale	185,846,000,000	639,140,000,000
Deferred income taxes payable	70,424,000,000	68,096,000,000
Other	4,613,000,000	27,448,000,000
Total non-current liabilities associated with assets held for sale	$75,037,000,000	$95,544,000,000

Financing_Arrangements_and_Deb1

Financing Arrangements and Debt (Details) (USD $)	1 Months Ended			9 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2014
				Committed Credit Facility [Member]	Uncommitted Credit Facilities [Member]
Line of Credit Facility [Line Items]	'	'	'	'	'
Credit facility maximum borrowing capacity	'	'	'	$2,000	$270
Credit facility, maturity date	'	'	'	1-Jun-17	'
Credit facility interest rate above LIBOR	'	'	'	1.25%	'
Line of credit facility fee	'	'	'	0.25%	'
Capital lease duration	'25 years	'	'	'	'
Capital lease payment duration	'15 years	'	'	'	'
Capital lease obligations, current	'	39.6	'	'	'
Capital lease obligations, noncurrent	'	'	$341.30	'	'

Cash_Flow_Disclosures_Details

Cash Flow Disclosures (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash Flow Disclosures [Abstract]	'	'
Decrease (increase) in accounts receivable	$29,586	($75,735)
Increase in inventories	-3,326	-51,279
Increase in prepaid expenses	-2,235	-52,793
Decrease in deferred income tax assets	1,290	40,145
Increase (decrease) in accounts payable and accrued liabilities	59,369	-84,344
Increase (decrease) in current income tax liabilities	-77,744	199,461
Total	6,940	-24,545	[1]
Cash income taxes paid	438,309	414,676
Interest paid, net of amounts capitalized	$44,657	$1,077
[1]	Reclassified to conform to current presentation - See Note D.

Employee_and_Retiree_Benefit_P2

Employee and Retiree Benefit Plans (Narrative) (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014
Employee and Retiree Benefit Plans [Abstract]	'
Contributions to benefit plans	$42.20
Expected benefit plan contributions to be made during the year	$9.70

Employee_and_Retiree_Benefit_P3

Employee and Retiree Benefit Plans (Components of Net Periodic Benefit Expense) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Pension Benefits [Member]	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	$6,208	$7,252	$19,048	$21,949
Interest cost	8,239	8,450	24,707	22,581
Expected return on plan assets	-8,506	-8,257	-25,514	-21,526
Amortization of prior service cost	227	262	680	841
Amortization of transitional liability (asset)	208	125	628	366
Recognized actuarial loss	1,735	4,591	5,201	12,882
Special termination benefits	'	849	'	849
Curtailments	'	1,366	'	1,366
Net periodic benefit expense	8,111	14,638	24,750	39,308
Other Postretirement Benefits [Member]	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	672	1,232	2,016	3,629
Interest cost	1,278	1,352	3,833	3,865
Amortization of prior service cost	-20	-35	-61	-121
Amortization of transitional liability (asset)	1	2	4	6
Recognized actuarial loss	59	391	177	1,321
Curtailments	'	-443	'	-443
Net periodic benefit expense	$1,990	$2,499	$5,969	$8,257

Incentive_Plans_Narrative_Deta

Incentive Plans (Narrative) (Details) (USD $)

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Feb. 04, 2014

Sep. 30, 2014

Feb. 04, 2014

Sep. 30, 2014

Feb. 04, 2014

Feb. 04, 2014

Feb. 04, 2014

Feb. 05, 2014

Sep. 30, 2014

Feb. 04, 2014

Feb. 04, 2014

Sep. 30, 2014

Sep. 30, 2014

Stock Options [Member]

Stock Options [Member]

Performance-Based Restricted Stock Units [Member]

Performance-Based Restricted Stock Units [Member]

Performance-Based Restricted Stock Units [Member]

Performance-Based Restricted Stock Units [Member]

Time Based Restricted Stock Units (RSU) [Member]

Time Based Restricted Stock Units (RSU) [Member]

Time Based Restricted Stock Units (RSU) [Member]

SAR [Member]

Cash-Settled RSU (RSU-C) [Member]

2012 Long-Term Plan [Member]

Employee Stock Purchase Plan [Member]

Minimum [Member]

Maximum [Member]

Non-employee Director Plan [Member]

Non-employee Director Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long term plan expiration year

'

'

'

'

'

'

'

'

'

'

'

'

'

'2022

'

Maximum number of shares available for issuance

'

'

'

'

'

'

'

'

'

'

'

'

'

8,700,000

980,000

Maximum number of shares available for issuance, annual rate

'

'

'

'

'

'

'

'

'

'

'

'

'

1.00%

'

Granted stock options

'

'

772,900

'

'

'

'

'

'

'

'

183,200

'

'

'

Granted stock options, exercise price

'

'

$55.82

'

'

'

'

'

'

'

'

'

'

'

'

Stock-based compensation, fair value assumption model

'

'

'

'Black-Scholes valuation model

'

'Monte Carlo valuation model

'

'

'

'

'

'

'

'

'

Granted stock options, valuation per option

'

'

$12.84

'

'

'

'

'

'

'

'

'

'

'

'

Granted restricted stock

'

'

'

'

464,300

'

'

'

233,400

43,848

'

'

170,900

'

'

Granted restricted stock, fair value

'

'

'

'

'

'

$33.90

$51.30

$55.82

$55.20

'

'

'

'

'

Granted restricted stock, vesting scheme

'

'

'

'

'

'

'

'

'

'

'These shares vest on the third anniversary of the date of grant.

'

'

'

'

Proceeds from exercise of stock options and employee stock purchase plans

'

$2,778,000

[1]

'

'

'

'

'

'

'

'

'

'

'

'

'

Income tax benefits realized for the tax deductions from option exercises

$3,800,000

$6,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Reclassified to conform to current presentation - See Note D.

Incentive_Plans_ShareBased_Pla

Incentive Plans (Share-Based Plans, Amounts Recognized) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Incentive Plans [Abstract]	'	'
Compensation charged against income before tax benefit	$45,373	$51,085
Related income tax benefit recognized in income	$14,036	$14,945

Earnings_per_Share_WeightedAve

Earnings per Share (Weighted-Average Shares Outstanding for Computation of Basic and Diluted Income per Common Share) (Details)	3 Months Ended			9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013		Sep. 30, 2014	Sep. 30, 2013
Earnings per Share [Abstract]	'	'		'	'
Basic method	177,535,503	186,938,328	[1]	179,259,573	188,914,000	[1]
Dilutive stock options and restricted stock units	1,320,575	1,399,183		1,318,512	1,331,166
Diluted method	178,856,078	188,337,511	[1]	180,578,085	190,245,166	[1]
[1]	Reclassified to conform to current presentation - See Note D.

Earnings_per_Share_Anti_Diluti

Earnings per Share (Anti Dilutive Securities Not Included in Computation of Diluted EPS) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings per Share [Abstract]	'	'	'	'
Antidilutive stock options excluded from diluted shares	1,998,009	1,165,464	1,855,667	941,155
Weighted average price of these options	$58.53	$54.56	$58.80	$54.40

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014
Income Tax Examination [Line Items]	'	'
U.S. Federal statutory income tax rate	'	35.00%
Kurdistan operations tax benefit	$34.30	'
U.S. Federal statutory income tax rate excluding benefit	40.30%	'
United States [Member]	'	'
Income Tax Examination [Line Items]	'	'
Earliest year remaining open for audit and/or settlement in major taxing jurisdictions	'	'2010
Canada [Member]	'	'
Income Tax Examination [Line Items]	'	'
Earliest year remaining open for audit and/or settlement in major taxing jurisdictions	'	'2008
United Kingdom [Member]	'	'
Income Tax Examination [Line Items]	'	'
Earliest year remaining open for audit and/or settlement in major taxing jurisdictions	'	'2012
Malaysia [Member]	'	'
Income Tax Examination [Line Items]	'	'
Earliest year remaining open for audit and/or settlement in major taxing jurisdictions	'	'2007

Income_Taxes_Effective_Income_

Income Taxes (Effective Income Tax Rates) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Taxes [Abstract]	'	'	'	'
Effective income tax rate	31.60%	42.80%	43.70%	44.60%

Financial_Instruments_and_Risk2

Financial Instruments and Risk Management (Narrative) (Details) (USD $)

1 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

31-May-12

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2013

Scenario, Forecast [Member]

Currency. Malaystion Ringgit [Member]

Commodity Derivative Contracts [Member]

Interest Rate Swap [Member]

Foreign exchange derivative contract [Member]

Foreign exchange derivative contract [Member]

Foreign exchange derivative contract [Member]

Foreign exchange derivative contract [Member]

Foreign exchange derivative contract [Member]

contract

Currency, U.S. Dollar

Currency, U.S. Dollar

Currency. Malaystion Ringgit [Member]

Derivative Instruments and Hedging Activities Disclosures [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of commodity derivative contracts

'

'

'

'

'

'

$6,200,000

'

'

'

'

'

'

Short-term derivative instruments

'

'

'

'

'

'

'

'

'

'

15,000,000

28,000,000

76,000,000

Number of open contracts

'

'

'

'

'

0

'

'

'

'

'

'

'

Reduction of income before taxes due to the impact of marking to market of derivative contracts

'

'

'

'

'

'

'

'

200,000

4,100,000

'

'

'

Maturities of notes payable

350,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument term

'

'10 years

'

'

'

'

'

'

'

'

'

'

'

Deferred loss charged to income

'

2,200,000

2,200,000

'

'

'

'

'

'

'

'

'

'

Loss deferred for fair value of interest rate derivative contracts, net of tax

'

'

'

'

'

'

'

22,600,000

'

'

'

'

'

Loss deferred for fair value of interest rate derivative contracts, tax

'

7,900,000

'

'

'

'

'

'

'

'

'

'

'

Interest expense due to deferred loss on interest rate swaps expected during the remaining six months of 2014

'

'

'

'

800,000

'

'

'

'

'

'

'

'

Number of offsetting positions

'

$0

'

$0

'

'

'

'

'

'

'

'

'

Financial_Instruments_and_Risk3

Financial Instruments and Risk Management (WTI Open Contracts) (Details) (October to December 2014 [Member])	Sep. 30, 2014
October to December 2014 [Member]	'
Derivative Instruments and Hedging Activities Disclosures [Line Items]	'
Volumes (barrels per day)	22,000
Swap Prices	93.26

Financial_Instruments_and_Risk4

Financial Instruments and Risk Management (Fair Value of Derivative Instruments Not Designated as Hedging Instruments) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Commodity Derivative Contracts [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Derivatives	$6,200	'
Nondesignated [Member] | Commodity Derivative Contracts [Member] | Accounts Receivable [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Asset Derivatives	6,152	1,970
Nondesignated [Member] | Foreign exchange derivative contract [Member] | Accounts Payable [Member]	'	'
Derivatives, Fair Value [Line Items]	'	'
Liability Derivatives	($189)	($1,038)

Financial_Instruments_and_Risk5

Financial Instruments and Risk Management (Recognized Gains and Losses for Derivative Instruments Not Designated as Hedging Instruments) (Details) (Nondesignated [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Amount of Gain (Loss) Recognized in Income on Derivative	$36,467	($882)	($13,088)	($6,404)
Commodity Derivative Contracts [Member] | Crude Oil And Product Purchases [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Amount of Gain (Loss) Recognized in Income on Derivative	37,305	-1,305	-17,150	-1,305
Commodity Derivative Contracts [Member] | Discontinued operations [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Amount of Gain (Loss) Recognized in Income on Derivative	'	2,980	'	1,604
Foreign Currency Contract [Member] | Interest and other income (loss) [Member]	'	'	'	'
Derivative Instruments, Gain (Loss) [Line Items]	'	'	'	'
Amount of Gain (Loss) Recognized in Income on Derivative	($838)	($2,557)	$4,062	($6,703)

Financial_Instruments_and_Risk6

Financial Instruments and Risk Management (Carrying Value of Assets and Liabilities Recorded at Fair Value on Recurring Basis) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Commodity Derivative Contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative assets	$6,200	'
Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative liabilities	14,168	14,305
Fair Value, Measurements, Recurring [Member] | Nonqualified employee savings plans [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative liabilities	13,979	13,267
Fair Value, Measurements, Recurring [Member] | Foreign exchange derivative contract [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative liabilities	189	1,038
Fair Value, Measurements, Recurring [Member] | Commodity Derivative Contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative assets	6,152	1,970
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative liabilities	13,979	13,267
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | Nonqualified employee savings plans [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative liabilities	13,979	13,267
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative liabilities	189	1,038
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Foreign exchange derivative contract [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative liabilities	189	1,038
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Commodity Derivative Contracts [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'
Derivative assets	$6,152	$1,970

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'		'	'		'
Beginning Balance	'		'	$172,119	[1]	'
Before reclassifications to income	'		'	-195,068	[1]	'
Reclassifications to income	'		'	5,140	[1]	'
Net other comprehensive income (loss)	-190,340		96,827	-189,928	[1]	-129,941
Ending Balance	-17,809	[1]	'	-17,809	[1]	'
Reclassifications before taxes, included in net periodic benefit expense	'		'	5,637		'
Reclassifications income tax, included in net periodic benefit expense	'		'	1,947		'
Reclassifications before taxes, included in interest expense	'		'	2,222		'
Reclassifications income tax, included in interest expense	'		'	772		'
Foreign Currency Translation Gains (Losses) [Member]	'		'	'		'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'		'	'		'
Beginning Balance	'		'	305,192	[1]	'
Before reclassifications to income	'		'	-195,374	[1]	'
Net other comprehensive income (loss)	'		'	-195,374	[1]	'
Ending Balance	109,818	[1]	'	109,818	[1]	'
Retirement and Postretirement Benefit Plan Adjustments [Member]	'		'	'		'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'		'	'		'
Beginning Balance	'		'	-116,956	[1]	'
Before reclassifications to income	'		'	306	[1]	'
Reclassifications to income	'		'	3,690	[1],[2]	'
Net other comprehensive income (loss)	'		'	3,996	[1]	'
Ending Balance	-112,960	[1]	'	-112,960	[1]	'
Deferred Loss On Interest Rate Derivative Hedges [Member]	'		'	'		'
Accumulated Other Comprehensive Income (Loss) [Line Items]	'		'	'		'
Beginning Balance	'		'	-16,117	[1]	'
Reclassifications to income	'		'	1,450	[1],[3]	'
Net other comprehensive income (loss)	'		'	1,450	[1]	'
Ending Balance	($14,667)	[1]	'	($14,667)	[1]	'
[1]	All amounts are presented net of income taxes.
[2]	Reclassifications before taxes of $5,637 for the nine-month period ended September 30, 2014 are included in the computation of net periodic benefit expense. See Note G for additional information. Related income taxes of $1,947 for the nine-month period ended September 30, 2014 are included in Income tax expense.
[3]	Reclassifications before taxes of $2,222 for the nine-month period ended SeptemberB 30, 2014 are included in Interest expense. Related income taxes of $772 for the nine-month period ended SeptemberB 30, 2014 are included in Income tax expense.

Environmental_and_Other_Contin1

Environmental and Other Contingencies (Details)	Sep. 30, 2014
	item
Environmental and Other Contingencies [Abstract]	'
Superfund site for which company is considered to be Potentially Responsible Party (PRP)	1

Commitments_Details

Commitments (Details)	9 Months Ended
	Sep. 30, 2014
Heavy Oil [Member]	'
Commitments and Contingencies Disclosure [Line Items]	'
Notional amount, per day	4,000
Underlying derivative (Cdn $ per barrel)	53.63
October through December 2014 Deliveries [Member] | Natural Gas [Member]	'
Commitments and Contingencies Disclosure [Line Items]	'
Notional amount, per day	110
Underlying derivative (Cdn $ per barrel)	4.04
2015 Deliveries [Member] | Natural Gas [Member]	'
Commitments and Contingencies Disclosure [Line Items]	'
Notional amount, per day	65
Underlying derivative (Cdn $ per barrel)	4.13
2016 Deliveries [Member] | Natural Gas [Member]	'
Commitments and Contingencies Disclosure [Line Items]	'
Notional amount, per day	10

Business_Segments_Details

Business Segments (Details) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013		Dec. 31, 2013
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	$17,845,766		'		$17,845,766		'		$17,509,484
External Revenues	1,433,037		1,419,496	[1]	4,068,458		4,042,420	[1]	'
Income (Loss)	245,707		284,809	[1]	530,373		1,048,052	[1]	'
Corporate, Non-Segment [Member]	'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	1,254,400		'		1,254,400		'		'
External Revenues	2,100		53,100		8,600		61,700		'
Income (Loss)	-40,400		800	[2]	-139,800		-78,700	[2]	'
Exploration and production [Member] | Operating Segments [Member]	'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	15,788,300	[3]	'		15,788,300	[3]	'		'
External Revenues	1,430,900	[3]	1,366,400	[3]	4,059,800	[3]	3,980,700	[3]	'
Income (Loss)	311,400	[3]	264,200	[2],[3]	722,800	[3]	786,300	[2],[3]	'
Exploration and production [Member] | Operating Segments [Member] | United States [Member]	'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	5,620,200	[3]	'		5,620,200	[3]	'		'
External Revenues	667,600	[3]	512,000	[3]	1,660,400	[3]	1,365,100	[3]	'
Income (Loss)	130,500	[3]	151,300	[2],[3]	335,300	[3]	368,000	[2],[3]	'
Exploration and production [Member] | Operating Segments [Member] | Canada [Member]	'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	3,933,000	[3]	'		3,933,000	[3]	'		'
External Revenues	246,900	[3]	316,400	[3]	807,400	[3]	894,000	[3]	'
Income (Loss)	40,400	[3]	77,300	[2],[3]	160,900	[3]	142,300	[2],[3]	'
Exploration and production [Member] | Operating Segments [Member] | Malaysia [Member]	'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	6,100,000	[3]	'		6,100,000	[3]	'		'
External Revenues	516,400	[3]	538,000	[3]	1,592,200	[3]	1,652,700	[3]	'
Income (Loss)	148,000	[3]	183,800	[2],[3]	482,600	[3]	602,500	[2],[3]	'
Exploration and production [Member] | Operating Segments [Member] | Other Regions [Member]	'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	135,100	[3]	'		135,100	[3]	'		'
External Revenues	'		'		-200	[3]	68,900	[3]	'
Income (Loss)	-7,500	[3]	-148,200	[2],[3]	-256,000	[3]	-326,500	[2],[3]	'
Continuing Operations [Member]	'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	17,042,700		'		17,042,700		'		'
External Revenues	1,433,000		1,419,500		4,068,400		4,042,400		'
Income (Loss)	271,000		265,000	[2]	583,000		707,600	[2]	'
Discontinued Operations [Member]	'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'
Total Assets	803,100		'		803,100		'		'
Income (Loss)	($25,300)		$19,800	[2]	($52,600)		$340,400	[2]	'
[1]	Reclassified to conform to current presentation - See Note D.
[2]	Reclassified to conform to current presentation.
[3]	Additional details about results of oil and gas operations are presented in the tables on pages 27 and 28.