Murphy Oil (MUR) 10-Q 2 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
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		173,626,998

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents		$ 286,281	$ 359,923	[1]
Accounts receivable, less allowance for doubtful accounts of $1,605 in 2019 and 2018		349,768	231,686	[1]
Inventories		77,278	80,024	[1]
Prepaid expenses		45,349	34,316	[1]
Assets held for sale		1,879,568	173,865	[1]
Total current assets		2,638,244	879,814	[1]
Property, plant and equipment, at cost less accumulated depreciation, depletion and amortization of $8,359,120 in 2019 and $8,070,487 in 2018		8,559,143	8,432,133	[1]
Operating lease assets		618,123
Deferred income taxes		124,679	146,197	[1]
Deferred charges and other assets		42,928	49,435	[1]
Non-current assets held for sale	[1]		1,545,008
Total assets		11,983,117	11,052,587	[1]
Current liabilities
Current maturities of long-term debt		679	668	[1]
Accounts payable		475,559	348,026	[1]
Income taxes payable		15,450	15,309	[1]
Other taxes payable		14,283	17,649	[1]
Operating lease liabilities		155,534
Other accrued liabilities		157,031	177,948	[1]
Liabilities associated with assets held for sale		819,694	286,458	[1]
Total current liabilities		1,638,230	846,058	[1]
Long-term debt, including capital lease obligation		3,110,098	3,109,318	[1]
Asset retirement obligations		783,495	752,519	[1]
Deferred credits and other liabilities		471,099	624,436	[1]
Non-current operating lease liabilities		468,427
Deferred income taxes		185,091	129,894	[1]
Non-current liabilities associated with assets held for sale	[1]		392,720
Equity
Cumulative Preferred Stock, par $100, authorized 400,000 shares, none issued				[1]
Common Stock, par $1.00, authorized 450,000,000 shares, issued 195,083,364 shares in 2019 and 195,076,924 in 2018		195,083	195,077	[1]
Capital in excess of par value		924,904	979,642	[1]
Retained earnings		5,627,081	5,513,529	[1]
Accumulated other comprehensive loss		(580,999)	(609,787)	[1]
Treasury stock		(1,217,293)	(1,249,162)	[1]
Murphy Shareholders' Equity		4,948,776	4,829,299	[1]
Noncontrolling interest		377,901	368,343	[1]
Total equity		5,326,677	5,197,642	[1]
Total liabilities and stockholders' equity		$ 11,983,117	$ 11,052,587	[1]
[1]	Reclassified to conform to current presentation (see Note A).

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
CONSOLIDATED BALANCE SHEETS [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,605	$ 1,605
Property, plant and equipment, accumulated depreciation, depletion and amortization	$ 8,359,120	$ 8,070,487
Cumulative Preferred Stock, par value (per share)	$ 100	$ 100
Cumulative Preferred Stock, authorized shares	400,000	400,000
Cumulative Preferred Stock, shares issued	0	0
Common Stock, par value (per share)	$ 1	$ 1
Common Stock, authorized shares	450,000,000
Common Stock, shares issued	195,083,364	195,076,924

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Revenues
Revenue from sales to customers		$ 590,550	$ 396,329	[1]
Loss on crude contracts	[1]		(29,502)
Gain on sale of assets and other income		454	7,963	[1]
Total revenues		591,004	374,790	[1]
Costs and expenses
Lease operating expense		131,696	88,833	[1]
Severance and ad valorem taxes		10,097	12,157	[1]
Exploration expenses, including undeveloped lease amortization		32,538	28,738	[1]
Selling and general expenses		63,360	48,096	[1]
Depreciation, depletion and amortization		229,406	182,743	[1]
Accretion of asset retirement obligations		9,340	6,372	[1]
Other expense (benefit)		30,005	(11,045)	[1]
Total costs and expenses		506,442	355,894	[1]
Operating income from continuing operations		84,562	18,896	[1]
Other income (loss)
Interest and other income (loss)		(4,748)	4,587	[1]
Interest expense, net		(46,069)	(44,541)	[1]
Total other loss		(50,817)	(39,954)	[1]
Income (loss) from continuing operations before income taxes		33,745	(21,058)	[1]
Income tax expense (benefit)		10,822	(111,639)	[1]
Income from continuing operations		22,923	90,581	[1]
Income from discontinued operations, net of income taxes		49,846	77,672	[1]
Net income including noncontrolling interest		72,769	168,253	[1]
Less: Net income attributable to noncontrolling interest		32,587
NET INCOME ATTRIBUTABLE TO MURPHY		$ 40,182	$ 168,253	[1]
INCOME (LOSS) PER COMMON SHARE - BASIC
Continuing operations		$ (0.06)	$ 0.52	[1]
Discontinued operations		0.29	0.45	[1]
Net Income		0.23	0.97	[1]
INCOME (LOSS) PER COMMON SHARE - DILUTED
Continuing operations		(0.06)	0.52	[1]
Discontinued operations		0.29	0.44	[1]
Net Income		0.23	0.96	[1]
Cash dividends per Common share		$ 0.25	$ 0.25	[1]
Average Common shares outstanding
Basic		173,341,304	172,805,065
Diluted		174,491,343	174,619,524
[1]	Reclassified to conform to current presentation (see Note A).

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 40,182	$ 168,253	[1]
Other comprehensive income (loss), net of tax
Net (loss) gain from foreign currency translation	25,449	(52,275)
Retirement and postretirement benefit plans	2,754	3,170
Deferred loss on interest rate hedges reclassified to interest expense	585	585
Reclassification of certain tax effects to retained earnings		(30,237)
Other		(3,737)
Other comprehensive income (loss)	28,788	(82,494)
COMPREHENSIVE INCOME	$ 68,970	$ 85,759
[1]	Reclassified to conform to current presentation (see Note A).

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Operating Activities
Net income including noncontrolling interest		$ 72,769	$ 168,253	[1]
Adjustments to reconcile net income to net cash provided by continuing operations activities:
(Income) loss from discontinued operations		(49,846)	(77,672)	[1]
Depreciation, depletion and amortization		229,406	182,743	[1]
Previously suspended exploration costs (credits)		13,251	(5)	[1]
Amortization of undeveloped leases		8,045	13,168	[1]
Accretion of asset retirement obligations		9,340	6,372	[1]
Deferred income tax charge (benefit)		15,589	(147,716)	[1]
Pretax (gain) loss from sale of assets		(12)	339	[1]
Mark to market and revaluation of contingent consideration		13,530
Mark to market of crude contracts	[1]		14,350
Long-term non-cash compensation		22,388	14,057	[1]
Net (increase) decrease in noncash operating working capital		(98,505)	(3,553)	[1]
Other operating activities, net		(18,758)	(59,449)	[1]
Net cash provided by continuing operations activities		217,197	110,887	[1]
Investing Activities
Property additions and dry hole costs		(270,338)	(247,054)	[1]
Proceeds from sales of property, plant and equipment	[1]		260
Net cash required by investing activities		(270,338)	(246,794)	[1]
Financing Activities
Capital lease obligation payments		(160)
Withholding tax on stock-based incentive awards		(6,991)	(6,642)	[1]
Distribution to noncontrolling interest		(18,437)
Cash dividends paid		(43,398)	(43,258)	[1]
Net cash required by financing activities		(68,986)	(49,900)	[1]
Cash Flows from Discontinued Operations
Operating activities		123,469	167,386	[1]
Investing activities		(26,438)	(26,848)	[1]
Financing activities		(2,547)	(2,405)	[1]
Net cash provided by discontinued operations		94,484	138,133	[1]
Cash transferred from discontinued operations to continuing operations		46,080	371,656	[1]
Effect of exchange rate changes on cash and cash equivalents		2,405	21,051	[1]
Net increase (decrease) in cash and cash equivalents		(73,642)	206,900	[1]
Cash and cash equivalents at beginning of period		359,923	630,433	[1]
Cash and cash equivalents at end of period		$ 286,281	$ 837,333	[1]
[1]	Reclassified to conform to current presentation (see Note A).

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Cumulative Preferred Stock [Member]	Common Stock [Member]	Capital In Excess Of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Murphy Shareholders' Equity [Member]	Noncontrolling Interest [Member]	Total
Balance at beginning of period at Dec. 31, 2017		$ 195,056	$ 917,665	$ 5,245,242	$ (462,243)	$ (1,275,529)
Exercise of stock options, including income tax benefits		9	(175)
Foreign currency translation (loss) gain, net of income taxes					(52,275)				$ (52,275)
Net income (loss) for the period				168,253					168,253	[1]
Reclassification of certain tax effects from accumulated other comprehensive loss				30,237	(30,237)				(30,237)
Other					(3,737)				(3,737)
Restricted stock transactions and other			(32,486)
Cash dividends				(43,258)
Retirement and postretirement benefit plans, net of income taxes					3,170				3,170
Stock-based compensation			6,187
Deferred loss on interest rate hedges reclassified to interest expense, net of income taxes					585				585
Awarded restricted stock, net of forfeitures						25,843
Balance at end of period at Mar. 31, 2018		195,065	891,191	5,400,474	(544,737)	(1,249,686)	$ 4,692,307		4,692,307
Balance at beginning of period at Dec. 31, 2018		195,077	979,642	5,513,529	(609,787)	(1,249,162)		$ 368,343	5,197,642	[1]
Exercise of stock options, including income tax benefits		6	(123)
Foreign currency translation (loss) gain, net of income taxes					25,449				25,449
Acquisition closing adjustments								(4,592)
Net income (loss) for the period				40,182				32,587	40,182
Distributions to noncontrolling Interest Owners								(18,437)
Sale and leaseback gain recognized upon adoption of ASC 842, net of tax impact				116,768
Restricted stock transactions and other			(38,732)
Cash dividends				(43,398)
Retirement and postretirement benefit plans, net of income taxes					2,754				2,754
Stock-based compensation			8,636
Adjustments to acquisition valuation									(24,519)
Deferred loss on interest rate hedges reclassified to interest expense, net of income taxes					585				585
Awarded restricted stock, net of forfeitures						31,869
Balance at end of period at Mar. 31, 2019		$ 195,083	$ 924,904	$ 5,627,081	$ (580,999)	$ (1,217,293)	$ 4,948,776	$ 377,901	$ 5,326,677
[1]	Reclassified to conform to current presentation (see Note A).

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	Mar. 31, 2019	Mar. 31, 2018
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY [Abstract]
Cumulative Preferred Stock, par value (per share)	$ 100	$ 100
Cumulative Preferred Stock, authorized shares	400,000	400,000
Cumulative Preferred Stock, shares issued	0	0
Common Stock, par value (per share)	$ 1	$ 1
Common Stock, authorized shares	450,000,000	450,000,000
Common Stock, shares issued	195,083,364	195,065,341
Treasury stock, shares	21,456,366	22,027,336

Nature of Business and Interim

Nature of Business and Interim Financial Statements	3 Months Ended
	Mar. 31, 2019
Nature of Business and Interim Financial Statements [Abstract]
Nature of Business and Interim Financial Statements	Note A – Nature of Business and Interim Financial Statements NATURE OF BUSINESS – Murphy Oil Corporation is an international oil and gas company that conducts its business through various operating subsidiaries. The Company primarily produces oil and natural gas in the United States and Canada and conducts oil and natural gas exploration activities worldwide. As of the end of the first quarter 2019 Malaysia was classified as held for sale; and effective January 1, 2019 Malaysia was reported as discontinued operations as the sale represents a strategic shift that has a major effect on the Company’s operations and financial results. Prior periods have been reclassified to conform with the current presentation . See Note E for more information regarding the pending sale of this asset. INTERIM FINANCIAL STATEMENTS – 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 March 31, 2019 and December 31, 2018 , and the results of operations, cash flows and changes in stockholders’ equity for the interim periods ended March 31, 2019 and 2018 , 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 2018 Form 10-K report, as certain notes and other pertinent information have been abbreviated or omitted in this report. Financial results for the three-months ended March 31, 2019 are not necessarily indicative of future results. 

New Accounting Principles and R

New Accounting Principles and Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
New Accounting Principles and Recent Accounting Pronouncements [Abstract]
New Accounting Principles and Recent Accounting Pronouncements	Note B – New Accounting Principles and Recent Accounting Pronouncements Accounting Principles Adopted Leases. In February 2016, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) 2016-02 (Topic 842) to increase transparency and comparability among companies by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The main difference between previous Generally Accepted Accounting Principles (GAAP) and this ASU is the recognition of right-of-use assets and lease liabilities by lessees for those leases classified as operating leases under previous GAAP. The company adopted the standard in the first quarter of 2019 utilizing the modified retrospective transition method through a cumulative-effect adjustment at the beginning of the first quarter of 2019. The Company has elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date and (3) initial direct costs for any existing leases as of the adoption date. The Company did not elect to apply the hindsight practical expedient when determining lease term and assessing impairment of right-of-use assets. The adoption of ASU 2016-02 resulted in the recognition of right-of-use assets of $618.1 million, current lease liabilities for operating leases of approximately $155.5 million, non-current lease liabilities of $468.4 million and a cumulative-effect adjustment to credit retained earnings of $116.8 million on its Consolidated Balance Sheets, with no material impact to its Consolidated Statements of Operations. See Note P for further information regarding the impact of the adoption of ASU 2016-02 on the Company's financial statements. Compensation – Stock Compensation. In June 2018, the FASB issued an ASU 2018-07 which supersedes existing guidance for equity-based payments to nonemployees and expands the scope of guidance for stock compensation to include all share-based payment arrangements related to the acquisition of goods and services from both nonemployees and employees. As a result, the same guidance that provides for employee share-based payments, including most of its requirements related to classification and measurement, applies to nonemployee share-based payment arrangements. The Company adopted this guidance during the first quarter of 2019 and it did not have material impact on its consolidated financial statements. Recent Accounting Pronouncements Fair Value Measurement. In August 2018, the FASB issued ASU 2018-13 which modifies disclosure requirements related to fair value measurement. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. Early adoption is permitted. The standard also allows for early adoption of any removed or modified disclosures upon issuance of this ASU while delaying adoption of the additional disclosures until their effective date. The Company is currently assessing the potential impact of this ASU to its consolidated financial statements. Note B – New Accounting Principles and Recent Accounting Pronouncements (Contd.) Recent Accounting Pronouncements (Contd.) Compensation-Retirement Benefits-Defined Benefit Plans-General. In August 2018, the FASB issued ASU 2018-14 which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. For public companies, the amendments in this ASU are effective for fiscal years beginning after December 15, 2020, with early adoption permitted, and is to be applied on a retrospective basis to all periods presented. The Company is currently assessing the potential impact of this ASU to its consolidated financial statements. 

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2019
Revenue from Contracts with Customers [Abstract]
Revenue from Contracts with Customers	Note C – Revenue from Contracts with Customers Nature of Goods and Services The Company explores for and produces crude oil, natural gas and natural gas liquids (collectively oil and gas) in select basins around the globe. The Company’s revenue from sales of oil and gas production activities are primarily subdivided into two key geographic segments: the U.S. and Canada. Additionally, revenue from sales to customers is generated from three primary revenue streams: crude oil and condensate, natural gas liquids, and natural gas. For operated oil and gas production where the non-operated working interest owner does not take-in-kind its proportionate interest in the produced commodity, the Company acts as an agent for the working interest owner and recognizes revenue only for its own share of the commingled production. U.S.- In the United States, the Company primarily produces oil and gas from fields in the Eagle Ford Shale area of South Texas and in the Gulf of Mexico. Revenue is generally recognized when oil and gas are transferred to the customer at the delivery point. Revenue recognized is largely index based with price adjustments for floating market differentials. Canada- Primarily, long-term contracts in Canada, except for certain natural gas physical forward sales fixed-price contracts, are floating commodity index priced. For the Onshore business in Canada, the recorded revenue is net of transportation and any gain or loss on spot purchases made to meet committed volumes on sales contracts for the month. For the Offshore business in Canada, contracts are based on index prices and revenue is recognized at the time of vessel load based on the volumes on the bill of lading and point of custody transfer. Note C – Revenue from Contracts with Customers (Contd.) Disaggregation of Revenue The Company reviews performance based on two key geographical segments and between onshore and offshore sources of Revenue within these geographies. For the three months ended March 31, 2019 and 2018, the Company recognized $ 590.6 million and $396.3 million, respectively, from contracts with customers for the sales of oil, natural gas liquids and natural gas.      Three Months Ended  March 31,  (Thousands of dollars) 2019 2018  Net crude oil and condensate revenue  United States – Onshore $ 133,590 182,650  – Offshore 316,023 71,528  Canada – Onshore 27,344 21,293  – Offshore 43,846 54,315  Other 2,852 –  Total crude oil and condensate revenue 523,655 329,786   Net natural gas liquids revenue  United States – Onshore 6,141 12,134  – Offshore 4,176 1,639  Canada – Onshore 3,458 3,469  Total natural gas liquids revenue 13,775 17,242   Net natural gas revenue  United States – Onshore 5,864 6,770  – Offshore 2,506 2,937  Canada – Onshore 44,750 39,594  Total natural gas revenue 53,120 49,301  Total revenue from contracts with customers 590,550 396,329   Gain (loss) on crude contracts – (29,502)  Other operating income 442 8,302  Gain on sale of assets 12 (339)  Total revenue $ 591,004 374,790  Contract Balances and Asset Recognition As of March 31, 2019, and December 31, 2018, receivables from contracts with customers, net of royalties and associated payables, on the balance sheet from continuing operations, were $266.5 million and $147.6 million, respectively. Payment terms for the Company’s sales vary across contracts and geographical regions, with the majority of the cash receipts required within 30 days of billing. Based on historical collections and ability of customers to pay, the Company did not recognize any impairment losses on receivables or contract assets arising from customer contracts during the reporting periods. The Company has not entered into any upstream oil and gas sale contracts that have financing components as at March 31, 2019. The Company does not employ sales incentive strategies such as commissions or bonuses for obtaining sales contracts. For the periods presented, the Company did not identify any assets to be recognized associated with the costs to obtain a contract with a customer. Note C – Revenue from Contracts with Customers (Contd.) Performance Obligations The Company recognizes oil and gas revenue when it satisfies a performance obligation by transferring control over a commodity to a customer. Judgment is required to determine whether some customers simultaneously receive and consume the benefit of commodities. As a result of this assessment for the Company, each unit of measure of the specified commodity is considered to represent a distinct performance obligation that is satisfied at a point in time upon the transfer of control of the commodity. For contracts with market or index-based pricing, which represent the majority of sales contracts, the Company has elected the allocation exception and allocates the variable consideration to each single performance obligation in the contract. As a result, there is no price allocation to unsatisfied remaining performance obligations for delivery of commodity product in subsequent periods. The Company has entered into several long-term, fixed-price contracts in Canada. The underlying reason for entering a fixed price contract is generally unrelated to anticipated future prices or other observable data and serves a particular purpose in the company’s long-term strategy. The contractually stated price for each unit of commodity transferred under these contracts represents the stand-alone selling price of the commodity. As of March 31, 2019, the Company had the following sales contracts in place which are expected to generate revenue from sales to customers for a period of 12 months or more starting at the inception of the contract:     Current Long-Term Contracts Outstanding at March 31, 2019  Location Commodity End Date Description Approximate Volumes  U.S. Oil Q3 2019 Fixed quantity delivery in Eagle Ford 4,000 BOED  U.S. Oil Q4 2021 Fixed quantity delivery in Eagle Ford 17,000 BOED  U.S. Oil, Gas and NGL Q2 2026 Deliveries from dedicated acreage in Eagle Ford As produced  Canada Gas Q4 2020 Contracts to sell natural gas at Alberta AECO fixed prices 59 MMCFD  Canada Gas Q4 2020 Contracts to sell natural gas at USD Index pricing 60 MMCFD  Canada Gas Q4 2024 Contracts to sell natural gas at USD Index pricing 30 MMCFD  Canada Gas Q4 2026 Contracts to sell natural gas at USD Index pricing 38 MMCFD   

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant And Equipment [Abstract]
Property, Plant and Equipment	 Note D – Property, Plant and Equipment Exploratory Wells Under FASB guidance 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 March 31, 2019, the Company had total capitalized exploratory well costs for continuing operations pending the determination of proved reserves of $ 2 2 7.1 million. The following table reflects the net changes in capitalized exploratory well costs during the three-month periods ended March 31, 2019 and 201 8.     (Thousands of dollars) 2019 2018  Beginning balance at January 1 $ 207,855 155,103  Additions pending the determination of proved reserves 32,416 549  Capitalized exploratory well costs charged to expense (13,145) –  Balance at March 31 $ 227,126 155,652 The capitalized well costs charged to expense during the first three months of 2019 included the CM-1X and the CT-1X wells in Vietnam Block 11-2/11. The wells were originally drilled in 2017. There were no capitalized well costs charged to expense during the first three months of 2018. 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.     March 31,  2019 2018  (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 $ 78,016 3 2 $ 13,642 2 1  One to two years – – – 27,757 1 1  Two to three years 27,270 1 1 49,642 2 2  Three years or more 121,840 5 1 64,611 6 –  $ 227,126 9 4 $ 155,652 11 4 Of the $149.1 million of exploratory well costs capitalized more than one year at March 31, 2019, $57.0 million is in Brunei, $64.9 million is in Vietnam, and $27.3 million is in the U.S. In all geographical areas, either further appraisal or development drilling is planned and/or development studies/plans are in various stages of completion. Divestments In 2016, a Canadian subsidiary of the Company completed a divestiture of natural gas processing and sales pipeline assets that support Murphy’s Montney natural gas fields in the Tupper area of northeastern British Columbia. Total cash consideration received upon closing was $414.1 million. A gain on sale of approximately $187.0 million was deferred, up to December 31, 2018, and was being recognized straight line over the life of the contract in the Canadian operating segment. The remaining deferred gain of $116 million, net of tax, was included as a component of Deferred credits and other liabilities in the Company’s Consolidated Balance Sheet as of December 31, 2018. As required by ASC 842, the previously deferred gain related to the sale and leaseback transaction have been transferred to equity upon adoption, lowering liabilities but increasing retained earnings by approximately $116 million, net of tax. The Company amortized approximately $1.9 million of the deferred gain during the first three months of 2018.  Note D – Property, Plant and Equipment (Contd.) Acquisitions In 2016, a Canadian subsidiary of Murphy Oil acquired a 70% operated working interest (WI) in Athabasca Oil Corporation’s (Athabasca) production, acreage, infrastructure and facilities in the Kaybob Duvernay lands, and a 30% non-operated WI in Athabasca’s production, acreage, infrastructure and facilities in the liquids rich Placid Montney lands in Alberta, the majority of which was unproved. As part of the transaction, Murphy agreed to pay an additional $168.0 million in the form of a carried interest on the Kaybob Duvernay property. As of March 31, 2019, $124.0 million of the carried interest had been paid. The remaining carry is to be paid over a period through 2019. Other In 2006, the Kakap field in Block K was unitized with the Gumusut field in an adjacent block under a Unitization and Unit Operating Agreement (UUOA) between the operators. The Gumusut-Kakap Unit is operated by another company. In the fourth quarter 2016, the operators completed the first redetermination process for a revision to the blocks’ tract participation interest, and the operator of the unitized field sought the approval of Petronas to effect the change in 2017. In 2016, the Company recorded an estimated redetermination expense of $39.1 million ( $24.1 million after tax) related to an expected revision in the Company’s working interest covering the period from inception through year-end 2016 at Kakap. In February 2017, the Company received Petronas’ approval to the redetermination change that reduced the Company’s working interest in oil operations to 6.67% effective April 1, 2017. Working interest redeterminations are required at different points within the life of the unitized field. Following a partial payment, the remaining redetermination liability of $17.3 million was included as a component of Liabilities associated with held for sale in the Company’s Consolidated Balance Sheet as of March 31, 2019. Following a further Unitization Framework Agreement (UFA) between the governments of Brunei and Malaysia, the Company now has a 6.37% interest in the Kakap field in Block K Malaysia. The UFA unitized the Gumusut-Kakap (GK) and Geronggong/Jagus East fields effective November 23, 2017. In the fourth quarter 2017, the Company recorded an estimated redetermination liability of $15.0 million related to Company’s revised working interest, which was included as a component of Liabilities associated with held for sale in the Company’s Consolidated Balance Sheet as of March 31, 2019 .

Discontinued Operations and Ass

Discontinued Operations and Assets Held for Sale	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Assets Held for Sale [Abstract]
Discontinued Operations and Assets Held for Sale	Note E – Discontinued Operations and Assets Held for Sale  On March 21, 2019, Murphy Oil Corporation announced that a subsidiary had signed a sale and purchase agreement to divest the fully issued share capital of its two primary Malaysian subsidiaries, Murphy Sabah Oil Co., Ltd. and Murphy Sarawak Oil Co., Ltd., to a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP). PTTEP will pay Murphy $2.127 billion in an all-cash transaction, payable upon closing and subject to customary closing adjustments, plus up to a $100 million bonus payment contingent upon certain future exploratory drilling results prior to October 2020.  The transaction has an effective date of January 1, 2019, with the closing expected to occur by the end of the second quarter 2019. Closing of the transaction is subject to customary conditions precedent including, among other things, necessary regulatory approvals. Murphy will exit the country of Malaysia.  The Company has accounted for its Malaysian exploration and production operations, along with the former U.K., U.S. refining and marketing operations as discontinued operations for all periods presented. The results of operations associated with discontinued operations for the three-month period ended March 31, 2019 and 2018 were as follows:    Three Months Ended  March 31,  (Thousands of dollars) 2019 2018  Revenues $ 195,412 210,815  Costs and expenses  Lease operating expenses 62,716 47,610  Depreciation, depletion and amortization 31,353 47,991  Other costs and expenses (benefits) 13,080 (2,451)  Total costs and expenses 88,263 117,665  Income tax expense 38,417 39,993  Income from discontinued operations $ 49,846 77,672  Note E – Discontinued Operations and Assets Held for Sale (Contd.) The following table presents the carrying value of the major categories of assets and liabilities of the Malaysian exploration and production and the U .K. refining and marketing operations reflected as held for sale on the Company’s Consolidated Balance Sheets at March 31, 2019 and December 31, 2018 .    March 31, December 31,  (Thousands of dollars) 2019 2018  Current assets  Cash $ 93,072 44,669  Accounts receivable 98,268 103,158  Inventories 8,881 7,887  Prepaid expenses and other 28,248 18,151  Property, Plant, and Equipment, net 1,316,985  Deferred income taxes and other assets 214,103  Operating lease asset 120,011  Total current assets associated with assets held for sale 1,879,568 173,865  Non-current assets  Property, Plant, and Equipment, net – 1,325,431  Deferred income taxes and other assets – 219,577  Operating lease asset – –  Total non-current assets associated with assets held for sale $ – 1,545,008  Current liabilities  Accounts payable $ 209,012 203,236  Other accrued liabilities 50,524 55,273  Current maturities of long-term debt 10,067 9,915  Taxes payable 35,032 18,034  Current operating lease liabilities 45,982 –  Long-term debt 115,264  Asset retirement obligation 279,784 –  Non-current operating lease liabilities 74,029 –  Total current liabilities associated with assets held for sale $ 819,694 286,458  Non-current liabilities  Long-term debt – 117,816  Asset retirement obligation – 274,904  Total non-current liabilities associated with assets held for sale $ – 392,720  

Financing Arrangements and Debt

Financing Arrangements and Debt	3 Months Ended
	Mar. 31, 2019
Financing Arrangements and Debt [Abstract]
Financing Arrangements and Debt	Note F – Financing Arrangements and Debt As of March 31, 2019, the Company has a $1.6 billion revolving credit facility (2018 facility). The 2018 facility is a senior unsecured guaranteed facility which expires in November 2023 . At March 31, 2019, the Company had outstanding borrowings of $325.0 million under the 2018 facility and $25.0 million of outstanding letters of credit, which reduce the borrowing capacity of the 2018 facility. At March 31, 2019, the interest rate in effect on borrowings under the facility was 4.105% . At March 31, 2019, the Company was in compliance with all covenants related to the 2018 facility. 

Other Financial Information

Other Financial Information	3 Months Ended
	Mar. 31, 2019
Other Financial Information [Abstract]
Other Financial Information	 Note G – Other Financial Information Additional disclosures regarding cash flow activities are provided below.    Three Months Ended March 31,  (Thousands of dollars) 2019 2018  Net (increase) decrease in operating working capital other than cash and cash equivalents:  (Increase) decrease in accounts receivable $ (112,673) 4,227  Decrease in inventories 3,930 15,637  (Increase) decrease in prepaid expenses (10,763) 3,446  Increase (decrease) in accounts payable and accrued liabilities 21,131 (26,908)  Increase(decrease) in income taxes payable (130) 45  Net (increase) decrease in noncash operating working capital $ (98,505) (3,553)  Supplementary disclosures:  Cash income taxes paid, net of refunds $ – (1,104)  Interest paid, net of amounts capitalized of $0 in 2019 and 2018 39,024 35,158   Non-cash investing activities:  Asset retirement costs capitalized $ 486 727  (Increase) decrease in capital expenditure accrual (63,328) (17,592)   

Employee and Retiree Benefit Pl

Employee and Retiree Benefit Plans	3 Months Ended
	Mar. 31, 2019
Employee and Retiree Benefit Plans [Abstract]
Employee and Retiree Benefit Plans	Note H – 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 plan and the U.S. director’s 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 retired U.S. employees. The health care benefits are contributory; the life insurance benefits are noncontributory. The table that follows provides the components of net periodic benefit expense for the three-month periods ended March 31, 2019 and 2018 .      Three Months Ended March 31,  Pension Benefits Other Postretirement Benefits  (Thousands of dollars) 2019 2018 2019 2018  Service cost $ 2,062 2,255 420 494  Interest cost 7,151 6,737 945 874  Expected return on plan assets (6,460) (7,506) – –  Amortization of prior service cost (credit) 247 257 (98) (10)  Recognized actuarial loss 3,514 5,215 – –  Net periodic benefit expense $ 6,514 6,958 1,267 1,358  The components of net periodic benefit expense other than the service cost component are included in the line item “Interest and other income (loss)” in Consolidated Statements of Operations. During the three-month period ended March 31, 2019, the Company made contributions of $6.9 million to its defined benefit pension and postretirement benefit plans. Remaining funding in 2019 for the Company’s defined benefit pension and postretirement plans is anticipated to be $25.6 million.

Incentive Plans

Incentive Plans	3 Months Ended
	Mar. 31, 2019
Incentive Plans [Abstract]
Incentive Plans	Note I – Incentive Plans The costs resulting from all share-based and cash-based incentive plans payment transactions are recognized as an expense in the Consolidated Statements of Operations using a fair value-based measurement method over the periods that the awards vest. The 2017 Annual Incentive Plan (2017 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 certain other employees. Cash awards under the 2017 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 2018 Long-Term Incentive Plan (2018 Long-Term Plan) authorizes the Committee to make grants of the Company’s Common Stock 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 2018 Long-Term Plan expires in 2028 . A total of 6,750,000 shares are issuable during the life of the 2018 Long-Term Plan, with annual grants limited to 1% of Common shares outstanding; allowed shares not granted in an earlier year may be granted in future years. The Company also has a Stock Plan for Non-Employee Directors that permits the issuance of restricted stock, restricted stock units and stock options or a combination thereof to the Company’s Non-Employee Directors. In the first quarter of 2019, the Committee granted 957,600 performance-based RSUs and 327,900 time-based RSUs to certain employees. The fair value of the performance-based RSUs, using a Monte Carlo valuation model , was $28.09 per unit. The fair value of the time-based RSUs was estimated based on the fair market value of the Company’s stock on the date of grant. The fair value of the time-based RSUs granted was $28.16 per unit. Additionally, in February 2019, the Committee granted 1,025,900 cash-settled RSUs (CRSU) to certain employees. The CRSUs are to be settled in cash, net of applicable income taxes, and are accounted for as liability-type awards. The initial fair value of the CRSUs granted in February 2019 was $28.16. Also in February, the Committee granted 78,716 shares of time-based RSUs to the Company’s non-employee Directors under the 2018 Stock Plan for Non-Employee Directors. These units are scheduled to vest on the third anniversary of the date of grant. The estimated fair value of these awards was $27.95 per unit on date of grant. All stock option exercises are non-cash transactions for the Company. The employee receives net shares, after applicable withholding taxes, upon each stock option exercise. The actual income tax benefit realized from the tax deductions related to stock option exercises of the share-based payment arrangements were immaterial for the three-month period ended March 31, 2019. Amounts recognized in the financial statements with respect to share-based plans are shown in the following table:      Three Months Ended  March 31,  (Thousands of dollars) 2019 2018  Compensation charged against income before tax benefit $ 15,514 7,549  Related income tax benefit recognized in income 2,342 894 Certain incentive compensation granted to the Company’s named executive officers, to the extent their total compensation exceeds $1.0 million per executive per year, is not eligible for a U.S. income tax deduction under the Tax Cuts and Jobs Act (2017 Tax Act). 

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2019
Earnings per Share [Abstract]
Earnings per Share	Note J – Earnings per Share Net income attributable to Murphy was used as the numerator in computing both basic and diluted income per Common share for the three-month periods ended March 31, 2019 and 2018. The following table reconciles the weighted-average shares outstanding used for these computations.     Three Months Ended  March 31,  (Weighted-average shares) 2019 2018  Basic method 173,341,304 172,805,065  Dilutive stock options and restricted stock units 1,150,039 1,814,459  Diluted method 174,491,343 174,619,524  The following table reflects certain options to purchase shares of common stock that were outstanding during the periods presented but were not included in the computation of diluted shares above because the incremental shares from the assumed conversion were antidilutive.    Three Months Ended  March 31,  2019 2018  Antidilutive stock options excluded from diluted shares 3,140,065 3,798,792  Weighted average price of these options $ 46.18 $ 50.77  

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Taxes [Abstract]
Income Taxes	Note K – Income Taxes The Company’s effective income tax rate is calculated as the amount of income tax expense (benefit) divided by income from continuing operations before income taxes. For the three-month periods ended March 31, 2019 and 2018, the Company’s effective income tax rates were as follows:   2019 2018  Three months ended March 31 32.1% 530.2% The effective tax rates for most periods where earnings are generated, generally exceed the U.S. statutory tax rate 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. Conversely, the effective tax rates for most periods where losses are incurred generally are lower than U.S. statutory tax rate of 21% due to similar reasons. The effective tax rate for the three-month period ended March 31, 2019 was above the U.S. statutory tax rate of 21% primarily due to exploration expenses in certain foreign jurisdictions in which no income tax benefit is available. These impacts were partially offset by no tax applied to the pre-tax income of the noncontrolling interest in MP GOM. The effective tax rate for the three-month period ended March 31, 2018 was above the statutory tax rate primarily due to the impact of the IRS’s April 2, 2018 guidance allowing for the preservation of 2017 operating loss carryforwards under the 2017 Tax Act’s taxation of unrepatriated foreign earnings. The preservation of the tax loss carryforward reduced the deferred tax expense by $156 million and resulted in a $36 million charge to taxes payable for a net $120 million tax benefit. The Company’s tax returns in multiple jurisdictions are subject to audit by taxing authorities. These audits often take multiple 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 March 31, 2019, the earliest years remaining open for audit and/or settlement in our major taxing jurisdictions are as follows: United States – 2015 ; Canada – 2013 ; Malaysia – 20 12 ; and United Kingdom – 2017 . 

Financial Instruments and Risk

Financial Instruments and Risk Management	3 Months Ended
	Mar. 31, 2019
Financial Instruments and Risk Management [Abstract]
Financial Instruments and Risk Management	 Note L – Financial Instruments and Risk Management Murphy uses 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 with creditworthy major financial institutions or over national exchanges such as the New York Mercantile Exchange (NYMEX). 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 gains and losses on these derivative contracts in its Consolidated Statements of Operations. Certain interest rate derivative contracts were accounted for as hedges and the gain or loss associated with recording the fair value of these contracts was deferred in Accumulated other comprehensive loss until the anticipated transactions occur. Commodity Price Risks At March 31, 2019, the Company had no WTI crude oil swap financial contracts outstanding. At March 31, 2018, the Company had 21,000 barrels per day in WTI crude oil swap financial contracts maturing ratably during the remainder of 2018 at an average price of $54.88 . Under this contract, which matured monthly, the Company paid the average monthly price in effect and received the fixed contract prices.  Foreign Currency Exchange Risks The Company is subject to foreign currency exchange risk associated with operations in countries outside the U.S. The Company had no foreign currency exchange short-term derivatives outstanding at March 31, 2019 and 2018. At March 31, 2019 and December 31, 2018, the fair value of derivative instruments not designated as hedging instruments are presented in the following table.      March 31, 2019 December 31, 2018  (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 payable $ – Accounts receivable $ 3,837 For the three-month period ended March 31, 2019 and March 31, 2018 the gains and losses recognized in the Consolidated Statements of Operations for derivative instruments not designated as hedging instruments are presented in the following table.      Gain (Loss)  Three Months Ended  (Thousands of dollars) March 31,  Type of Derivative Contract Statement of Operations Location 2019 2018  Commodity Gain (loss) on crude contracts $ – (29,502) Interest Rate Risks Under hedge accounting rules, the Company deferred the net cost associated with derivative contracts purchased to manage interest rate risk associated with 10 -year notes sold in May 2012 to match the payment of interest on these notes through 2022. During each of the three-month periods ended March 31, 2019 and 2018, $0.7 million of the deferred loss on the interest rate swaps was charged to Interest expense in the Consolidated Statement of Operations. The remaining loss (net of tax) deferred on these matured contracts at March 31, 2019 was $7.3 million, which is recorded, net of income taxes of $1.9 million, in Accumulated other comprehensive loss in the Consolidated Balance Sheet. The Company expects to charge approximately $2.2 million of this deferred loss to Interest expense, net in the Consolidated Statement of Operations during the remaining nine months of 2019. Fair Values – Recurring 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 L – Financial Instruments and Risk Management (Contd.) Fair Values – Recurring (Contd.) The carrying value of assets and liabilities recorded at fair value on a recurring basis at March 31, 2019 and December 31, 2018 are presented in the following table.     March 31, 2019 December 31, 2018  (Thousands of dollars) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total  Assets:  Commodity derivative contracts $ – – – – – 3,837 – 3,837  $ – – – – – 3,837 – 3,837   Liabilities:  Nonqualified employee savings plans $ 15,436 – – 15,436 13,845 – – 13,845  Contingent consideration – – 61,260 61,260 – – 47,730 47,730  $ 15,436 – 61,260 76,696 13,845 – 47,730 61,575 The fair value of WTI crude oil derivative contracts in 2018 were based on active market quotes for WTI crude oil. The fair value of foreign exchange derivative contracts in each year 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 Gain (loss) on crude contracts in the Consolidated Statements of Operations, while the effects of 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 Operations.  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 March 31, 2019 and December 31, 2018.  Subsequent to the balance sheet date, the Company has entered into derivative instruments to manage certain risks related to commodity prices.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2019
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Note M – Accumulated Other Comprehensive Loss The components of Accumulated other comprehensive loss on the Consolidated Balance Sheets at December 31, 2018 and March 31, 2019 and the changes during the three-month period ended March 31, 2019 are presented net of taxes in the following table.    Deferred  Retirement Loss on  Foreign and Interest  Currency Postretirement Rate  Translation Benefit Plan Derivative  (Thousands of dollars) Gains (Losses) Adjustments Hedges Total  Balance at December 31, 2018 $ (419,852) (182,036) (7,899) (609,787)  2019 components of other comprehensive income (loss):  Before reclassifications to income and retained earnings 25,449 – – 25,449  Reclassifications to income – 2,754 1 585 2 3,339  Net other comprehensive loss 25,449 2,754 585 28,788  Balance at March 31, 2019 $ (394,403) (179,282) (7,314) (580,999) 1 Reclassifications before taxes of $3,530 are included in the computation of net periodic benefit expense for the three-month period ended March 31, 2019. See Note H for additional information. Related income taxes of $776 are included in Income tax expense (benefit) for the three-month period ended March 31, 2019. 2 Reclassifications before taxes of $741 are included in Interest expense, net, for the three-month period ended March 31, 2019. Related income taxes of $156 are included in Income tax expense (benefit) for the three-month period ended March 31, 2019. See Note L for additional information. 

Environmental and Other Conting

Environmental and Other Contingencies	3 Months Ended
	Mar. 31, 2019
Environmental and Other Contingencies [Abstract]
Environmental and Other Contingencies	Note N – 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 legislation changes, including tax rate changes and retroactive tax claims; royalty and revenue sharing changes; 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. Governmental actions are often motivated by political considerations and may be taken without full consideration of their consequences or 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 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 has not retained any environmental exposure associated with Murphy’s former U.S. marketing operations. The Company believes costs related to these sites will not have a material adverse effect on Murphy’s net income, financial condition or liquidity in a future period. 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 environmental and legal matters referred to in this note is not expected to have a material adverse effect on the Company’s net income, financial condition or liquidity in a future period. 

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2019
Business Segments [Abstract]
Business Segments	 Note O – Business Segments Information about business segments and geographic operations is reported in the following table. For geographic purposes, revenues are attributed to the country in which the sale occurs. Corporate, including interest income, other gains and losses (including foreign exchange gains/losses and realized/unrealized gains/losses on crude oil contracts), interest expense and unallocated overhead, is shown in the tables to reconcile the business segments to consolidated totals.    Three Months Ended Three Months Ended  Total Assets March 31, 2019 March 31, 2018  at March 31, External Income External Income  (Millions of dollars) 2019 Revenues (Loss) Revenues (Loss)  Exploration and production 1  United States $ 6,615.5 469.2 116.2 278.1 36.2  Canada 2,252.8 118.9 7.5 118.3 24.4  Other 225.2 2.9 (28.3) – (15.4)  Total exploration and production 9,093.5 591.0 95.4 396.4 45.2  Corporate 1,010.0 – (72.4) (21.6) 45.4  Assets/revenue/income from continuing operations 10,103.5 591.0 23.0 374.8 90.6  Discontinued operations, net of tax 1,879.6 – 49.8 – 77.7  Total $ 11,983.1 591.0 72.8 374.8 168.3  1 Additional details about results of oil and gas operations are presented in the tables on pages 29 .

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	Note P – Leases Significant Accounting Policy At inception, contracts are assessed for the presence of a lease according to criteria laid out by ASC 842. If a lease is present, further criteria is assessed to determine if the lease should be classified as an operating or finance lease. Operating leases are presented on the Consolidated Balance Sheet as Operating l ease a ssets with the corresponding lease liabilities presented in Operating lease liabilities and Non-current operating lease liabilities . Finance lease assets are presented on the Consolidated Balance Sheet within Property, plant and equipment, net with the corresponding liabilities presented in Current maturities of long-term debt and Long-term debt. Generally, lease liabilities are recognized at commencement and based on the present value of the future minimum lease payments to be made over the lease term. Lease assets are then recognized based on the value of the lease liabilities. Where implicit lease rates are not determinable, the minimum lease payments are discounted using the Company’s collateralized incremental borrowing rates. Operating leases are expensed according to their nature and recognized in L ease operating expenses , S elling and general expenses or capitalized in the Consolidated Financial Statement. F inance leases are depreciated with expenses recognized in D epreciation, depletion, and amortization and I nterest expense , net on the Consolidated Statement of Operations . Nature of Leases T he Company has entered into various operating leases such as a gas processing plant, floating production storage and off-take vessels, buildings, marine vessels, vehicles, drilling rigs, pipelines, and other oil and gas field equipment. Remaining lease terms range from 1 year to 17 years, some of which may include options to extend leases for multi-year periods and others which include options to terminate the leases within 1 month. Options to extend lease terms are at the Company’s discretion . Early lease terminations are a combination of both at Company discretion and mutual agreement between the Company and lessor. Purchase options also exist for certain leases . Note P – Leases (Contd.) Expenses related to finance and operating leases included in the Consolidated Financial Statements are as follows: Related Expenses    Three Months Ended  (Thousands of dollars) Financial Statement Category March 31, 2019  Operating lease 1,2 Lease operating expenses $ 58,523  Operating lease 2 Selling and general expense 3,109  Operating lease 2 Property, plant and equipment 23,447  Operating lease 2 Asset retirement obligations 3,024  Finance lease  Amortization of asset Depreciation, depletion and amortization 210  Interest on lease liabilities Interest expense, net 101  Sublease income Other income (217)  Net lease expense $ 88,197  1 Includes variable lease expenses of $7.2 million primarily related to additional volumes processed at a gas processing plant . 2 Includes $12.0 million for Lease operating expense, $1.1 million for Selling and general expense, $20.1 million for Property, plant and equipment, net and $3.0 million for Asset retirement obligations relating to short-term leases . Expenses primarily relate to drilling rigs and other oil and gas field equipment. Maturity of Lease Liabilities    (Thousands of dollars) Operating Leases 1 Finance Leases Total  2019 $ 164,979 801 165,780  2020 109,790 1,069 110,859  2021 58,415 1,069 59,484  2022 53,639 1,069 54,708  2023 53,140 1,069 54,209  Remaining 465,611 5,610 471,221  Total future minimum lease payments 905,574 10,687 916,261  Less imputed interest (281,613) (2,234) (283,847)  Present value of lease liabilities 2 $ 623,961 8,453 632,414  1 Excludes $272.2 million o f minimum lease payments for leases entered but not yet commenced. These payments relate to an expansion of an existing gas processing plant and payments are anticipated to commence at the end of 2019 for 20 years. 2 Includes both the current and long-term portion of the lease liabilities. Lease Term and Discount Rate    March 31, 2019  Weighted average remaining lease term:  Operating leases 11 years  Finance leases 10 years  Weighted average discount rate:  Operating leases 5.07%  Finance leases 4.80% Other Information    Three Months Ended  (Thousands of dollars) March 31, 2019  Cash paid for amounts included in the measurement of lease liabilities:  Operating cash flows from operating leases $ 44,730  Operating cash flows from finance leases 102  Financing cash flows from finance leases 160  Right-of-use assets obtained in exchange for lease liabilities:  Operating leases $ 311 

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2019
Acquisition [Abstract]
Acquisition	Note Q – Acquisition  In December 2018, the Company announced the completion of a transaction with Petrobras Americas Inc. (PAI) which was effective October 1, 2018. Through this transaction, Murphy acquired all PAI’s producing Gulf of Mexico assets along with certain blocks that hold deep exploration rights. This transaction added production of a pproximately 50,000 BOED (including noncontrolling interest, NCI) along with approximately 97 MMBOE (including NCI) of proven reserves at December 31, 2018. Under the terms of the transaction, Murphy paid cash consideration of $7 88.7 million and transferred a 20% interest in MP Gulf of Mexico, LLC (MP GOM), a subsidiary of Murphy, to PAI. Murphy also has an obligation to pay additional contingent consideration up to $150 million if certain sales thresholds are exceeded beginning in 2019 through 2025. Both companies contributed all of their current producing Gulf of Mexico assets into MP GOM. MP GOM is owned 80% by Murphy and 20% by PAI, with Murphy overseeing the operations. The following tables contain the preliminary purchase price allocation at fair value:      (Thousands of dollars)  Cash consideration paid to PAI $ 788,724  Fair value of net assets contributed 154,469  Contingent consideration 52,540  NCI in acquired assets 248,933  Total purchase consideration $ 1,244,666  (Thousands of dollars)  Fair value of Property, p lant and e quipment $ 1,627,429  Other assets 5,628  Less: Asset retirement obligations (388,391)  Total net assets $ 1,244,666  The fair value measurements of crude oil and natural gas properties and asset retirement obligations are based on inputs that are not observable in the market and therefore represent Level 3 inputs. The fair values of crude oil and natural gas properties and asset retirement obligations were measured using valuation techniques that convert expected future cash flows to a single discounted amount. Significant inputs to the valuation of crude oil and natural gas properties included estimates of: (i) proved, probable, and possible reserves; (ii) production rates and related development timing; (iii) future operating and development costs; (iv) future commodity prices; and (v) a market-based weighted average discount rate. These inputs required significant judgments and estimates by management at the time of the valuation and are the most sensitive and may be subject to change. Certain data necessary to complete the purchase price allocation is not yet available, and includes, but is not limited to, analysis of the underlying tax basis of the acquired PAI assets and assumed liabilities as well as the final purchase price adjustments to be settled in 2019. We expect to complete the purchase price allocation during the 12-month period following the acquisition date of November 30, 2018, during which time the value of the assets and liabilities may be revised as appropriate. Results of Operations Murphy’s Consolidated Statement of Operations for the three months ended March 31, 2019 included additional revenues of $234.0 million and pre-tax income of $147.7 million attributable to the acquired PAI assets.  Pro Forma Financial Information The following pro forma condensed combined financial information was derived from historical financial statements of Murphy and PAI and gives effect to the transaction as if it had occurred on January 1, 2018. The information below reflects pro forma adjustments based on available information and certain assumptions that we believe are reasonable. The pro forma results of operations do not include any cost savings or other synergies that we expect to realize from the transaction or any estimated costs that have been or will be incurred by us to integrate the PAI assets. The pro forma condensed combined financial information has been included for comparative purposes and is not necessarily indicative of the results that might have occurred had the transaction taken place on January 1, 2018; furthermore, the financial information is not intended to be a projection of future results.  Note Q – Acquisition (Contd.)       Three Months Ended  (Thousands of dollars, except per share amounts) March 31, 2018  Revenues $ 579,080  Net Income Attributable to Murphy 211,497   Net Income Attributable to Murphy per Common Share  Basic $ 1.22  Diluted 1.21  

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2019
Subsequent Event [Abstract]
Subsequent Event	 Note R – Subsequent Event On April 23,2019 the Company announced that its wholly owned subsidiary, Murphy Exploration & Production Company USA, has entered into a definitive agreement to acquire deep water Gulf of Mexico assets from LLOG Exploration Offshore, L.L.C. and LLOG Bluewater Holdings, L.L.C., (LLOG) for cash consideration of $1.375 billion. The transaction will have an effective date of January 1, 2019 and is expected to close in the second quarter, subject to normal closing adjustments. This acquisition will be funded by a combination of cash on hand and availability under the company’s $1.6 billion revolving credit facility. The Company could owe additional contingent consideration payments up to $200 million in the event that revenue from certain properties exceeds certain contractual thresholds between 2019 and 2022; and $50 million following first oil from certain development projects. 

Nature of Business and Interi_2

Nature of Business and Interim Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2019
Significant Accounting Policies [Abstract]
Nature of Business	NATURE OF BUSINESS – Murphy Oil Corporation is an international oil and gas company that conducts its business through various operating subsidiaries. The Company primarily produces oil and natural gas in the United States and Canada and conducts oil and natural gas exploration activities worldwide. As of the end of the first quarter 2019 Malaysia was classified as held for sale; and effective January 1, 2019 Malaysia was reported as discontinued operations as the sale represents a strategic shift that has a major effect on the Company’s operations and financial results. Prior periods have been reclassified to conform with the current presentation . See Note E for more information regarding the pending sale of this asset.

Leases (Policies)

Leases (Policies)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Significant Accounting Policy	Significant Accounting Policy At inception, contracts are assessed for the presence of a lease according to criteria laid out by ASC 842. If a lease is present, further criteria is assessed to determine if the lease should be classified as an operating or finance lease. Operating leases are presented on the Consolidated Balance Sheet as Operating l ease a ssets with the corresponding lease liabilities presented in Operating lease liabilities and Non-current operating lease liabilities . Finance lease assets are presented on the Consolidated Balance Sheet within Property, plant and equipment, net with the corresponding liabilities presented in Current maturities of long-term debt and Long-term debt. Generally, lease liabilities are recognized at commencement and based on the present value of the future minimum lease payments to be made over the lease term. Lease assets are then recognized based on the value of the lease liabilities. Where implicit lease rates are not determinable, the minimum lease payments are discounted using the Company’s collateralized incremental borrowing rates. Operating leases are expensed according to their nature and recognized in L ease operating expenses , S elling and general expenses or capitalized in the Consolidated Financial Statement. F inance leases are depreciated with expenses recognized in D epreciation, depletion, and amortization and I nterest expense , net on the Consolidated Statement of Operations .

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contracts with Customers [Abstract]
Disaggregation of Revenue	  Three Months Ended  March 31,  (Thousands of dollars) 2019 2018  Net crude oil and condensate revenue  United States – Onshore $ 133,590 182,650  – Offshore 316,023 71,528  Canada – Onshore 27,344 21,293  – Offshore 43,846 54,315  Other 2,852 –  Total crude oil and condensate revenue 523,655 329,786   Net natural gas liquids revenue  United States – Onshore 6,141 12,134  – Offshore 4,176 1,639  Canada – Onshore 3,458 3,469  Total natural gas liquids revenue 13,775 17,242   Net natural gas revenue  United States – Onshore 5,864 6,770  – Offshore 2,506 2,937  Canada – Onshore 44,750 39,594  Total natural gas revenue 53,120 49,301  Total revenue from contracts with customers 590,550 396,329   Gain (loss) on crude contracts – (29,502)  Other operating income 442 8,302  Gain on sale of assets 12 (339)  Total revenue $ 591,004 374,790 
Current Long-Term Contracts Outstanding	  Current Long-Term Contracts Outstanding at March 31, 2019  Location Commodity End Date Description Approximate Volumes  U.S. Oil Q3 2019 Fixed quantity delivery in Eagle Ford 4,000 BOED  U.S. Oil Q4 2021 Fixed quantity delivery in Eagle Ford 17,000 BOED  U.S. Oil, Gas and NGL Q2 2026 Deliveries from dedicated acreage in Eagle Ford As produced  Canada Gas Q4 2020 Contracts to sell natural gas at Alberta AECO fixed prices 59 MMCFD  Canada Gas Q4 2020 Contracts to sell natural gas at USD Index pricing 60 MMCFD  Canada Gas Q4 2024 Contracts to sell natural gas at USD Index pricing 30 MMCFD  Canada Gas Q4 2026 Contracts to sell natural gas at USD Index pricing 38 MMCFD  

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant And Equipment [Abstract]
Net Changes in Capitalized Exploratory Well Costs	   (Thousands of dollars) 2019 2018  Beginning balance at January 1 $ 207,855 155,103  Additions pending the determination of proved reserves 32,416 549  Capitalized exploratory well costs charged to expense (13,145) –  Balance at March 31 $ 227,126 155,652 
Aging of Capitalized Exploratory Well Costs	   March 31,  2019 2018  (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 $ 78,016 3 2 $ 13,642 2 1  One to two years – – – 27,757 1 1  Two to three years 27,270 1 1 49,642 2 2  Three years or more 121,840 5 1 64,611 6 –  $ 227,126 9 4 $ 155,652 11 4 

Discontinued Operations and A_2

Discontinued Operations and Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Assets Held for Sale [Abstract]
Results of Operations Associated with Discontinued Operations	  Three Months Ended  March 31,  (Thousands of dollars) 2019 2018  Revenues $ 195,412 210,815  Costs and expenses  Lease operating expenses 62,716 47,610  Depreciation, depletion and amortization 31,353 47,991  Other costs and expenses (benefits) 13,080 (2,451)  Total costs and expenses 88,263 117,665  Income tax expense 38,417 39,993  Income from discontinued operations $ 49,846 77,672 
Major Categories of Assets and Liabilities Reflected as Held for Sale	   March 31, December 31,  (Thousands of dollars) 2019 2018  Current assets  Cash $ 93,072 44,669  Accounts receivable 98,268 103,158  Inventories 8,881 7,887  Prepaid expenses and other 28,248 18,151  Property, Plant, and Equipment, net 1,316,985  Deferred income taxes and other assets 214,103  Operating lease asset 120,011  Total current assets associated with assets held for sale 1,879,568 173,865  Non-current assets  Property, Plant, and Equipment, net – 1,325,431  Deferred income taxes and other assets – 219,577  Operating lease asset – –  Total non-current assets associated with assets held for sale $ – 1,545,008  Current liabilities  Accounts payable $ 209,012 203,236  Other accrued liabilities 50,524 55,273  Current maturities of long-term debt 10,067 9,915  Taxes payable 35,032 18,034  Current operating lease liabilities 45,982 –  Long-term debt 115,264  Asset retirement obligation 279,784 –  Non-current operating lease liabilities 74,029 –  Total current liabilities associated with assets held for sale $ 819,694 286,458  Non-current liabilities  Long-term debt – 117,816  Asset retirement obligation – 274,904  Total non-current liabilities associated with assets held for sale $ – 392,720 

Other Financial Information (Ta

Other Financial Information (Tables)	3 Months Ended
	Mar. 31, 2019
Other Financial Information [Abstract]
Noncash Operating Working Capital (Increase) Decrease	  Three Months Ended March 31,  (Thousands of dollars) 2019 2018  Net (increase) decrease in operating working capital other than cash and cash equivalents:  (Increase) decrease in accounts receivable $ (112,673) 4,227  Decrease in inventories 3,930 15,637  (Increase) decrease in prepaid expenses (10,763) 3,446  Increase (decrease) in accounts payable and accrued liabilities 21,131 (26,908)  Increase(decrease) in income taxes payable (130) 45  Net (increase) decrease in noncash operating working capital $ (98,505) (3,553)  Supplementary disclosures:  Cash income taxes paid, net of refunds $ – (1,104)  Interest paid, net of amounts capitalized of $0 in 2019 and 2018 39,024 35,158   Non-cash investing activities:  Asset retirement costs capitalized $ 486 727  (Increase) decrease in capital expenditure accrual (63,328) (17,592)  

Employee and Retiree Benefit _2

Employee and Retiree Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2019
Employee and Retiree Benefit Plans [Abstract]
Components of Net Periodic Benefit Expense	   Three Months Ended March 31,  Pension Benefits Other Postretirement Benefits  (Thousands of dollars) 2019 2018 2019 2018  Service cost $ 2,062 2,255 420 494  Interest cost 7,151 6,737 945 874  Expected return on plan assets (6,460) (7,506) – –  Amortization of prior service cost (credit) 247 257 (98) (10)  Recognized actuarial loss 3,514 5,215 – –  Net periodic benefit expense $ 6,514 6,958 1,267 1,358  

Incentive Plans (Tables)

Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2019
Incentive Plans [Abstract]
Share-Based Plans, Amounts Recognized	   Three Months Ended  March 31,  (Thousands of dollars) 2019 2018  Compensation charged against income before tax benefit $ 15,514 7,549  Related income tax benefit recognized in income 2,342 894 

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings per Share [Abstract]
Weighted-Average Shares Outstanding for Computation of Basic and Diluted Income per Common Share	   Three Months Ended  March 31,  (Weighted-average shares) 2019 2018  Basic method 173,341,304 172,805,065  Dilutive stock options and restricted stock units 1,150,039 1,814,459  Diluted method 174,491,343 174,619,524 
Anti Dilutive Securities Not Included in Computation of Diluted EPS	   Three Months Ended  March 31,  2019 2018  Antidilutive stock options excluded from diluted shares 3,140,065 3,798,792  Weighted average price of these options $ 46.18 $ 50.77 

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
Income Taxes [Abstract]
Effective Income Tax Rates	  2019 2018  Three months ended March 31 32.1% 530.2% 

Financial Instruments and Ris_2

Financial Instruments and Risk Management (Tables)	3 Months Ended
	Mar. 31, 2019
Financial Instruments and Risk Management [Abstract]
Fair Value of Derivative Instruments Not Designated as Hedging Instruments	   March 31, 2019 December 31, 2018  (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 payable $ – Accounts receivable $ 3,837 
Recognized Gains and Losses for Derivative Instruments Not Designated as Hedging Instruments	   Gain (Loss)  Three Months Ended  (Thousands of dollars) March 31,  Type of Derivative Contract Statement of Operations Location 2019 2018  Commodity Gain (loss) on crude contracts $ – (29,502) 
Carrying Value of Assets and Liabilities Recorded at Fair Value on Recurring Basis	   March 31, 2019 December 31, 2018  (Thousands of dollars) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total  Assets:  Commodity derivative contracts $ – – – – – 3,837 – 3,837  $ – – – – – 3,837 – 3,837   Liabilities:  Nonqualified employee savings plans $ 15,436 – – 15,436 13,845 – – 13,845  Contingent consideration – – 61,260 61,260 – – 47,730 47,730  $ 15,436 – 61,260 76,696 13,845 – 47,730 61,575 

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2019
Accumulated Other Comprehensive Loss [Abstract]
Components of Accumulated Other Comprehensive Loss	   Deferred  Retirement Loss on  Foreign and Interest  Currency Postretirement Rate  Translation Benefit Plan Derivative  (Thousands of dollars) Gains (Losses) Adjustments Hedges Total  Balance at December 31, 2018 $ (419,852) (182,036) (7,899) (609,787)  2019 components of other comprehensive income (loss):  Before reclassifications to income and retained earnings 25,449 – – 25,449  Reclassifications to income – 2,754 1 585 2 3,339  Net other comprehensive loss 25,449 2,754 585 28,788  Balance at March 31, 2019 $ (394,403) (179,282) (7,314) (580,999) 1 Reclassifications before taxes of $3,530 are included in the computation of net periodic benefit expense for the three-month period ended March 31, 2019. See Note H for additional information. Related income taxes of $776 are included in Income tax expense (benefit) for the three-month period ended March 31, 2019. 2 Reclassifications before taxes of $741 are included in Interest expense, net, for the three-month period ended March 31, 2019. Related income taxes of $156 are included in Income tax expense (benefit) for the three-month period ended March 31, 2019. See Note L for additional information.

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2019
Business Segments [Abstract]
Segment Information	    Three Months Ended Three Months Ended  Total Assets March 31, 2019 March 31, 2018  at March 31, External Income External Income  (Millions of dollars) 2019 Revenues (Loss) Revenues (Loss)  Exploration and production 1  United States $ 6,615.5 469.2 116.2 278.1 36.2  Canada 2,252.8 118.9 7.5 118.3 24.4  Other 225.2 2.9 (28.3) – (15.4)  Total exploration and production 9,093.5 591.0 95.4 396.4 45.2  Corporate 1,010.0 – (72.4) (21.6) 45.4  Assets/revenue/income from continuing operations 10,103.5 591.0 23.0 374.8 90.6  Discontinued operations, net of tax 1,879.6 – 49.8 – 77.7  Total $ 11,983.1 591.0 72.8 374.8 168.3  1 Additional details about results of oil and gas operations are presented in the tables on pages 29 .

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Summary of Lease Related Expenses	  Three Months Ended  (Thousands of dollars) Financial Statement Category March 31, 2019  Operating lease 1,2 Lease operating expenses $ 58,523  Operating lease 2 Selling and general expense 3,109  Operating lease 2 Property, plant and equipment 23,447  Operating lease 2 Asset retirement obligations 3,024  Finance lease  Amortization of asset Depreciation, depletion and amortization 210  Interest on lease liabilities Interest expense, net 101  Sublease income Other income (217)  Net lease expense $ 88,197  1 Includes variable lease expenses of $7.2 million primarily related to additional volumes processed at a gas processing plant . 2 Includes $12.0 million for Lease operating expense, $1.1 million for Selling and general expense, $20.1 million for Property, plant and equipment, net and $3.0 million for Asset retirement obligations relating to short-term leases . Expenses primarily relate to drilling rigs and other oil and gas field equipment.
Schedule of Maturity of Lease Liabilities	Maturity of Lease Liabilities    (Thousands of dollars) Operating Leases 1 Finance Leases Total  2019 $ 164,979 801 165,780  2020 109,790 1,069 110,859  2021 58,415 1,069 59,484  2022 53,639 1,069 54,708  2023 53,140 1,069 54,209  Remaining 465,611 5,610 471,221  Total future minimum lease payments 905,574 10,687 916,261  Less imputed interest (281,613) (2,234) (283,847)  Present value of lease liabilities 2 $ 623,961 8,453 632,414  1 Excludes $272.2 million o f minimum lease payments for leases entered but not yet commenced. These payments relate to an expansion of an existing gas processing plant and payments are anticipated to commence at the end of 2019 for 20 years. 2 Includes both the current and long-term portion of the lease liabilities.
Summary of Lease Term and Discount Rate	  March 31, 2019  Weighted average remaining lease term:  Operating leases 11 years  Finance leases 10 years  Weighted average discount rate:  Operating leases 5.07%  Finance leases 4.80% 
Summary of Other Lease Information	  Three Months Ended  (Thousands of dollars) March 31, 2019  Cash paid for amounts included in the measurement of lease liabilities:  Operating cash flows from operating leases $ 44,730  Operating cash flows from finance leases 102  Financing cash flows from finance leases 160  Right-of-use assets obtained in exchange for lease liabilities:  Operating leases $ 311 

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Mar. 31, 2019
Acquisition [Abstract]
Preliminary Purchase Price Allocation	  (Thousands of dollars)  Cash consideration paid to PAI $ 788,724  Fair value of net assets contributed 154,469  Contingent consideration 52,540  NCI in acquired assets 248,933  Total purchase consideration $ 1,244,666  (Thousands of dollars)  Fair value of Property, p lant and e quipment $ 1,627,429  Other assets 5,628  Less: Asset retirement obligations (388,391)  Total net assets $ 1,244,666 
Pro Forma Financial Information	  Three Months Ended  (Thousands of dollars, except per share amounts) March 31, 2018  Revenues $ 579,080  Net Income Attributable to Murphy 211,497   Net Income Attributable to Murphy per Common Share  Basic $ 1.22  Diluted 1.21 

New Accounting Principles and_2

New Accounting Principles and Recent Accounting Pronouncements (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 618,123
Operating lease liabilities, current	155,534
Non-current lease liabilities	468,400
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment to retained earnings	$ 116,768

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019USD ($)itemsegment	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Revenue from Contracts with Customers [Abstract]
Number of geographic segments | segment	2
Number of revenue streams | item	3
Receivables from contracts with customers	$ 266,500,000		$ 147,600,000
Impairment losses on receivables or contract assets	0	$ 0
Revenue, remaining performance obligation	$ 0

Revenue from Contracts with C_4

Revenue from Contracts with Customers (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		$ 590,550	$ 396,329	[1]
Gain (loss) on crude contracts	[1]		(29,502)
Other operating income		442	8,302
Gain on sale of assets		12	(339)	[1]
Total revenues		591,004	374,790	[1]
Crude Oil And Condensate [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		523,655	329,786
Natural Gas Liquids [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		13,775	17,242
Natural Gas [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		53,120	49,301
United States Onshore [Member] | Crude Oil And Condensate [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		133,590	182,650
United States Onshore [Member] | Natural Gas Liquids [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		6,141	12,134
United States Onshore [Member] | Natural Gas [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		5,864	6,770
United States Offshore [Member] | Crude Oil And Condensate [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		316,023	71,528
United States Offshore [Member] | Natural Gas Liquids [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		4,176	1,639
United States Offshore [Member] | Natural Gas [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		2,506	2,937
Canada Onshore [Member] | Crude Oil And Condensate [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		27,344	21,293
Canada Onshore [Member] | Natural Gas Liquids [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		3,458	3,469
Canada Onshore [Member] | Natural Gas [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		44,750	39,594
Canada Offshore [Member] | Crude Oil And Condensate [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		43,846	$ 54,315
Other Locations [Member] | Crude Oil And Condensate [Member]
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		$ 2,852
[1]	Reclassified to conform to current presentation (see Note A).

Revenue from Contracts with C_5

Revenue from Contracts with Customers (Current Long-Term Contracts Outstanding) (Details)	Mar. 31, 2019MMcf / dBoe / d
End Date, Q3, 2019 [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Approximate Net Volumes | Boe / d	4,000
End Date, Q4, 2021 [Member] | United States [Member]
Disaggregation of Revenue [Line Items]
Approximate Net Volumes | Boe / d	17,000
End Date, Q4, 2020 [Member] | Canada [Member] | Alberta AECO [Member]
Disaggregation of Revenue [Line Items]
Approximate Net Volumes	59
End Date, Q4, 2020 [Member] | Canada [Member] | USD Index Pricing [Member]
Disaggregation of Revenue [Line Items]
Approximate Net Volumes	60
End Date, Q4, 2024 [Member] | Canada [Member] | USD Index Pricing [Member]
Disaggregation of Revenue [Line Items]
Approximate Net Volumes	30
End Date, Q4, 2026 [Member] | Canada [Member] | USD Index Pricing [Member]
Disaggregation of Revenue [Line Items]
Approximate Net Volumes	38

Property, Plant and Equipment_2

Property, Plant and Equipment (Narrative) (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended				12 Months Ended
		Dec. 31, 2016	Mar. 31, 2019	Mar. 31, 2018		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Apr. 01, 2017
Property Plant And Equipment [Line Items]
Total capitalized exploratory well costs			$ 227,126	$ 155,652		$ 155,103		$ 207,855
Capitalized well costs charged to expense			13,145	0
Exploratory well costs capitalized more than one year			149,100
Proceeds from sales of property, plant and equipment	[1]			260
Gain (loss) on sale of assets			12	(339)	[1]
MP Gulf Of Mexico LLC [Member] | Petrobas America Inc [Member]
Property Plant And Equipment [Line Items]
Noncontrolling ownership interest								20.00%
Athabasca Oil Corporation [Member] | Canadian Subsidiary [Member]
Property Plant And Equipment [Line Items]
Cost of acquired assets, carried interest							$ 168,000
Carried interest paid			124,000
Montney Natural Gas Fields [Member]
Property Plant And Equipment [Line Items]
Proceeds from sales of property, plant and equipment		$ 414,100
Deferred gain on sale of property			116,000
Gain (loss) on sale of assets		$ 187,000		$ 1,900
Brunei [Member]
Property Plant And Equipment [Line Items]
Exploratory well costs capitalized more than one year			57,000
Vietnam [Member]
Property Plant And Equipment [Line Items]
Exploratory well costs capitalized more than one year			64,900
United States [Member]
Property Plant And Equipment [Line Items]
Exploratory well costs capitalized more than one year			$ 27,300
Kaybob Duvernay Lands, Alberta [Member] | Canadian Subsidiary [Member]
Property Plant And Equipment [Line Items]
Interest in assets acquired							70.00%
Placid Montney Lands, Alberta [Member] | Canadian Subsidiary [Member]
Property Plant And Equipment [Line Items]
Interest in assets acquired							30.00%
Kakap Field Block K Malaysia [Member]
Property Plant And Equipment [Line Items]
Working interest			6.37%						6.67%
Unitization and Unit Operating Agreement [Member] | Kakap Field Block K Malaysia [Member]
Property Plant And Equipment [Line Items]
Redetermination expense							$ 39,100
Redetermination expense, net of tax							$ 24,100
Redetermination liability			$ 17,300
Unitization Framework Agreement [Member] | Kakap Field Block K Malaysia [Member]
Property Plant And Equipment [Line Items]
Redetermination expense						$ 15,000
[1]	Reclassified to conform to current presentation (see Note A).

Property, Plant And Equipment_3

Property, Plant And Equipment (Net Changes in Capitalized Exploratory Well Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant And Equipment [Abstract]
Beginning balance at January 1	$ 207,855	$ 155,103
Additions pending the determination of proved reserves	32,416	549
Capitalized exploratory well costs charged to expense	(13,145)	0
Ending balance at December 31	$ 227,126	$ 155,652

Property, Plant And Equipment_4

Property, Plant And Equipment (Aging of Capitalized Exploratory Well Costs) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)item	Mar. 31, 2018USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Amount | $	$ 227,126	$ 155,652	$ 207,855	$ 155,103
No. of Wells	9	11
No. of Projects	4	4
Zero to One Year [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Amount | $	$ 78,016	$ 13,642
No. of Wells	3	2
No. of Projects	2	1
One to Two Years [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Amount | $		$ 27,757
No. of Wells		1
No. of Projects		1
Two to Three Years [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Amount | $	$ 27,270	$ 49,642
No. of Wells	1	2
No. of Projects	1	2
Three Years or More [Member]
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Amount | $	$ 121,840	$ 64,611
No. of Wells	5	6
No. of Projects	1

Discontinued Operations and A_3

Discontinued Operations and Assets Held for Sale (Narrative) (Details) - Discontinued Operations, Held-for-sale [Member] - Malaysia Subsidiaries [Member] $ in Millions	Mar. 21, 2019USD ($)entity
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Number of businesses divested | entity	2
Consideration	$ 2,127
Contingent consideration	$ 100

Discontinued Operations and A_4

Discontinued Operations and Assets Held for Sale (Results of Operations Associated with Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income from discontinued operations	$ 49,846	$ 77,672	[1]
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Revenues	195,412	210,815
Lease operating expenses	62,716	47,610
Depreciation, depletion and amortization	31,353	47,991
Other costs and expenses (benefits)	13,080	(2,451)
Total costs and expenses	88,263	117,665
Income tax expense	38,417	39,993
Income from discontinued operations	$ 49,846	$ 77,672
[1]	Reclassified to conform to current presentation (see Note A).

Discontinued Operations and A_5

Discontinued Operations and Assets Held for Sale (Major Categories of Assets and Liabilities Reflected as Held for Sale) (Details) - USD ($) $ in Thousands		Mar. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current assets associated with assets held for sale		$ 1,879,568	$ 173,865	[1]
Total non-current assets associated with assets held for sale	[1]		1,545,008
Total current liabilities associated with assets held for sale		819,694	286,458	[1]
Total non-current liabilities associated with assets held for sale	[1]		392,720
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash		93,072	44,669
Accounts receivable		98,268	103,158
Inventories		8,881	7,887
Prepaid expenses and other		28,248	18,151
Property, Plant and Equipment, net		1,316,985
Deferred income taxes and other assets		214,103
Operating lease asset		120,011
Total current assets associated with assets held for sale		1,879,568	173,865
Property, Plant and Equipment, net			1,325,431
Deferred income taxes and other assets			219,577
Total non-current assets associated with assets held for sale			1,545,008
Accounts payable		209,012	203,236
Other accrued liabilities		50,524	55,273
Current maturities of long-term debt		10,067	9,915
Taxes payable		35,032	18,034
Current operating lease obligations		45,982
Total current liabilities associated with assets held for sale		819,694	286,458
Long-term debt		115,264	117,816
Asset retirement obligation		279,784	274,904
Non-current operating lease liabilities		$ 74,029
Total non-current liabilities associated with assets held for sale			$ 392,720
[1]	Reclassified to conform to current presentation (see Note A).

Financing Arrangements and De_2

Financing Arrangements and Debt (Narrative) (Details) - 2018 Revolving Credit Facility [Member] $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Line of Credit Facility [Line Items]
Credit facility maximum borrowing capacity	$ 1,600
Credit facility, expiration date	Nov. 1, 2023
Amount outstanding	$ 325
Interest rate	4.105%
Letter of Credit [Member]
Line of Credit Facility [Line Items]
Amount outstanding	$ 25

Other Financial Information (No

Other Financial Information (Noncash Operating Working Capital (Increase) Decrease) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other Financial Information [Abstract]
(Increase) decrease in accounts receivable	$ (112,673)	$ 4,227
Decrease in inventories	3,930	15,637
(Increase) decrease in prepaid expenses	(10,763)	3,446
Increase (decrease) in accounts payable and accrued liabilities	21,131	(26,908)
Increase (decrease) in income taxes payable	(130)	45
Net (increase) decrease in noncash operating working capital	(98,505)	(3,553)	[1]
Cash income taxes paid, net of refunds		(1,104)
Interest paid, net of amounts capitalized of $0 in 2019 and 2018	39,024	35,158
Asset retirement costs capitalized	486	727
(Increase) decrease in capital expenditure accrual	(63,328)	(17,592)
Interest paid, amounts capitalized	$ 0	$ 0
[1]	Reclassified to conform to current presentation (see Note A).

Employee and Retiree Benefit _3

Employee and Retiree Benefit Plans (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Employee and Retiree Benefit Plans [Abstract]
Contributions to benefit plans	$ 6.9
Expected benefit plan contributions to be made during the year	$ 25.6

Employee and Retiree Benefit _4

Employee and Retiree Benefit Plans (Components of Net Periodic Benefit Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,062	$ 2,255
Interest cost	7,151	6,737
Expected return on plan assets	(6,460)	(7,506)
Amortization of prior service cost (credit)	247	257
Recognized actuarial loss	3,514	5,215
Net periodic benefit expense	6,514	6,958
Other Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	420	494
Interest cost	945	874
Amortization of prior service cost (credit)	(98)	(10)
Net periodic benefit expense	$ 1,267	$ 1,358

Incentive Plans (Narrative) (De

Incentive Plans (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2019	Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Threshold of deductible compensation for executive officers		$ 1
2012 Long-Term Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Long term plan expiration year		2028
Maximum number of shares available for issuance		6,750,000
Maximum number of shares available for issuance, annual rate		1.00%
Performance-Based RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period		957,600
Stock-based compensation, fair value assumption model		Monte Carlo valuation model
Performance-Based RSUs [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value per share at grant date		$ 28.09
Time-Based RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period		327,900
Fair value per share at grant date		$ 28.16
Time-Based RSUs [Member] | Director [Member] | Non-Employee Director Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period	78,716
Fair value per share at grant date	$ 27.95
Vesting scheme		These units are scheduled to vest on the third anniversary of the date of grant.
Cash-Settled RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants in period	1,025,900

Incentive Plans (Share-Based Pl

Incentive Plans (Share-Based Plans, Amounts Recognized) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Incentive Plans [Abstract]
Compensation charged against income before tax benefit	$ 15,514	$ 7,549
Related income tax benefit recognized in income	$ 2,342	$ 894

Earnings per Share (Weighted-Av

Earnings per Share (Weighted-Average Shares Outstanding for Computation of Basic and Diluted Income per Common Share) (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings per Share [Abstract]
Basic method	173,341,304	172,805,065
Dilutive stock options and restricted stock units	1,150,039	1,814,459
Diluted method	174,491,343	174,619,524

Earnings per Share (Antidilutiv

Earnings per Share (Antidilutive Securities Not Included in Computation of Diluted EPS) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings per Share [Abstract]
Antidilutive stock options excluded from diluted shares (in shares)	3,140,065	3,798,792
Weighted average price of these options (per share)	$ 46.18	$ 50.77

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Line Items]
Statutory tax rate	21.00%
2017 Tax Act, decrease of deferred tax expense		$ (156)
2017 Tax Act, increase in taxes payable		36
2017 Tax Act, net impact		$ 120
United States [Member]
Income Tax Disclosure [Line Items]
Earliest year remaining open for audit and/or settlement in major taxing jurisdictions	2015
Canada [Member]
Income Tax Disclosure [Line Items]
Earliest year remaining open for audit and/or settlement in major taxing jurisdictions	2013
Malaysia [Member]
Income Tax Disclosure [Line Items]
Earliest year remaining open for audit and/or settlement in major taxing jurisdictions	2012
United Kingdom [Member]
Income Tax Disclosure [Line Items]
Earliest year remaining open for audit and/or settlement in major taxing jurisdictions	2017

Income Taxes (Effective Income

Income Taxes (Effective Income Tax Rates) (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Taxes [Abstract]
Effective income tax rate	32.10%	530.20%

Financial Instruments and Ris_3

Financial Instruments and Risk Management (Narrative) (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2019USD ($)bbl / dcontractitem	Mar. 31, 2018USD ($)contract$ / bbl	Dec. 31, 2019USD ($)	Dec. 31, 2018item
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Number of foreign currency derivatives | contract	0	0
Amount of loss reclassified to interest expense	$ 700,000	$ 700,000
Number of offsetting positions | item	0			0
Scenario, Forecast [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative loss			$ 2,200,000
Commodity Derivative Contracts [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Daily production commitment (barrels per day)	0	21,000
Average price | $ / bbl		54.88
Interest Rate Swap [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Loss deferred for fair value of interest rate derivative contracts, net of tax	$ 7,300,000
Income taxes on deferred loss on fair value of interest rate derivative contracts	$ 1,900,000
Notes Due 2022 [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Debt instrument term	10 years

Financial Instruments and Ris_4

Financial Instruments and Risk Management (Fair Value of Derivative Instruments Not Designated as Hedging Instruments) (Details) $ in Thousands	Dec. 31, 2018USD ($)
Nondesignated [Member] | Commodity Derivative Contracts [Member] | Accounts Receivable [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 3,837

Financial Instruments and Ris_5

Financial Instruments and Risk Management (Recognized Gains and Losses for Derivative Instruments Not Designated as Hedging Instruments) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Nondesignated [Member] | Commodity Derivative Contracts [Member] | Gain (Loss) on Crude Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss)	$ (29,502)

Financial Instruments and Ris_6

Financial Instruments and Risk Management (Carrying Value of Assets and Liabilities Recorded at Fair Value on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		$ 3,837
Liability Derivatives	$ 76,696	61,575
Commodity Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		3,837
Non-Qualified Employee Savings Plans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	15,436	13,845
Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	61,260	47,730
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	15,436	13,845
Level 1 [Member] | Non-Qualified Employee Savings Plans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	15,436	13,845
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		3,837
Level 2 [Member] | Commodity Derivative Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		3,837
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	61,260	47,730
Level 3 [Member] | Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	$ 61,260	$ 47,730

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	[1]	$ (609,787)
Before reclassifications to income and retained earnings		25,449
Reclassifications to income		3,339
Net other comprehensive loss		28,788	$ (82,494)
Ending Balance		(580,999)
Foreign Currency Translation Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(419,852)
Before reclassifications to income and retained earnings		25,449
Net other comprehensive loss		25,449
Ending Balance		(394,403)
Retirement and Postretirement Benefit Plan Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(182,036)
Reclassifications to income	[2]	2,754
Net other comprehensive loss		2,754
Ending Balance		(179,282)
Reclassifications before taxes, included in net periodic benefit expense		3,530
Reclassifications, income tax expense		776
Deferred Loss On Interest Rate Derivative Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(7,899)
Reclassifications to income	[3]	585
Net other comprehensive loss		585
Ending Balance		(7,314)
Reclassifications before taxes, included in net periodic benefit expense		741
Reclassifications income tax, included in interest expense		$ 156
[1]	Reclassified to conform to current presentation (see Note A).
[2]	Reclassifications before taxes of $3,530 are included in the computation of net periodic benefit expense for the three-month period ended March 31, 2019. See Note H for additional information. Related income taxes of $776 are included in Income tax expense (benefit) for the three-month period ended March 31, 2019.
[3]	Reclassifications before taxes of $741 are included in Interest expense, net, for the three-month period ended March 31, 2019. Related income taxes of $156 are included in Income tax expense (benefit) for the three-month period ended March 31, 2019. See Note L for additional information.

Business Segments (Segment Info

Business Segments (Segment Information) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018		Dec. 31, 2018	[1]
Segment Reporting Information [Line Items]
Total Assets		$ 11,983,117			$ 11,052,587
External Revenues		591,004	$ 374,790	[1]
Income (loss)		40,182	168,253	[1]
Continuing Operations [Member]
Segment Reporting Information [Line Items]
Total Assets		10,103,500
External Revenues		591,000	374,800
Income (loss)		23,000	90,600
Discontinued Operations [Member]
Segment Reporting Information [Line Items]
Total Assets		1,879,600
Income (loss)		49,800	77,700
Corporate [Member]
Segment Reporting Information [Line Items]
Total Assets		1,010,000
External Revenues			(21,600)
Income (loss)		(72,400)	45,400
Exploration And Production Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Assets	[2]	9,093,500
External Revenues	[2]	591,000	396,400
Income (loss)	[2]	95,400	45,200
Exploration And Production Segment [Member] | Operating Segments [Member] | United States [Member]
Segment Reporting Information [Line Items]
Total Assets	[2]	6,615,500
External Revenues	[2]	469,200	278,100
Income (loss)	[2]	116,200	36,200
Exploration And Production Segment [Member] | Operating Segments [Member] | Canada [Member]
Segment Reporting Information [Line Items]
Total Assets	[2]	2,252,800
External Revenues	[2]	118,900	118,300
Income (loss)	[2]	7,500	24,400
Exploration And Production Segment [Member] | Operating Segments [Member] | Other Regions [Member]
Segment Reporting Information [Line Items]
Total Assets	[2]	225,200
External Revenues	[2]	2,900
Income (loss)	[2]	$ (28,300)	$ (15,400)
[1]	Reclassified to conform to current presentation (see Note A).
[2]	Additional details about results of oil and gas operations are presented in the tables on pages 29.

Leases (Narrative) (Details)

Leases (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019
Minimum [Member]
Remaining lease terms	1 year
Period in which leases have termination option	1 month
Maximum [Member]
Remaining lease terms	17 years

Leases (Summary of Lease Relate

Leases (Summary of Lease Related Expenses) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	[1]
Finance lease, Amortization of asset		$ 210
Finance lease, Interest on lease liabilities		101
Sublease income		(217)
Net lease expense		88,197
Variable lease expense		7,200
Lease operating expense		131,696	$ 88,833
Property, Plant and Equipment [Member]
Operating lease	[2]	23,447
Lease operating expense		20,100
Asset Retirement Obligations [Member]
Operating lease	[2]	3,024
Lease operating expense		3,000
Lease Operating Expense [Member]
Operating lease	[2],[3]	58,523
Lease operating expense		12,000
Selling and General Expense [Member]
Operating lease	[2]	3,109
Lease operating expense		$ 1,100
[1]	Reclassified to conform to current presentation (see Note A).
[2]	Includes $12.0 million for Lease operating expense, $1.1 million for Selling and general expense, $20.1 million for Property, plant and equipment, net and $3.0 million for Asset retirement obligations relating to short-term leases. Expenses primarily relate to drilling rigs and other oil and gas field equipment.
[3]	Includes variable lease expenses of $7.2 million primarily related to additional volumes processed at a gas processing plant.

Leases (Schedule of Maturity of

Leases (Schedule of Maturity of Lease Liabilities) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating Leases, 2019	$ 164,979	[1]
Operating Leases, 2020	109,790	[1]
Operating Leases, 2021	58,415	[1]
Operating Leases, 2022	53,639	[1]
Operating Leases, 2023	53,140	[1]
Operating Leases, Remaining	465,611	[1]
Operating Leases, Total future minimum payments	905,574	[1]
Finance Leases, 2019	801
Finance Leases, 2020	1,069
Finance Leases, 2021	1,069
Finance Leases, 2022	1,069
Finance Leases, 2023	1,069
Finance Leases, Remaining	5,610
Finance Leases, Total future minimum payments	10,687
Total Leases, 2019	165,780
Total Leases, 2020	110,859
Total Leases, 2021	59,484
Total Leases, 2022	54,708
Total Leases, 2023	54,209
Total Leases, Remaining	471,221
Total Leases, Future minimum payments	916,261
Minimum lease payments for leases signed but not yet commenced	$ 272,200
Lease duration for leases signed but not yet commenced	20 years
[1]	Excludes $272.2 million of minimum lease payments for leases entered but not yet commenced. These payments relate to an expansion of an existing gas processing plant and payments are anticipated to commence at the end of 2019 for 20 years.

Leases (Present Value of Lease

Leases (Present Value of Lease Liabilities) (Details) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating Leases, Total future minimum payments	$ 905,574	[1]
Operating Leases, Less imputed interest	(281,613)	[1]
Operating Leases, Present value of lease liabilities	623,961	[1],[2]
Finance Leases, Total future minimum payments	10,687
Finance Leases, Less imputed interest	(2,234)
Finance Leases, Present value of lease liabilities	8,453	[2]
Total Leases, Future minimum payments	916,261
Total Leases, Less imputed interest	(283,847)
Total Leases, Present value of lease liabilities	$ 632,414	[2]
[1]	Excludes $272.2 million of minimum lease payments for leases entered but not yet commenced. These payments relate to an expansion of an existing gas processing plant and payments are anticipated to commence at the end of 2019 for 20 years.
[2]	Includes both the current and long-term portion of the lease liabilities.

Leases (Summary of Lease Term a

Leases (Summary of Lease Term and Discount Rate) (Details)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Weighted average remaining lease term, Operating leases	11 years
Weighted average remaining lease term, Finance leases	10 years
Weighted average discount rate, Operating leases	5.07%
Weighted average discount rate, Finance leases	4.80%

Leases (Summary of Other Lease

Leases (Summary of Other Lease Information) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 44,730
Operating cash flows from finance leases	102
Financing cash flows from finance leases	160
Right-of-use assets obtained in exchange for lease obligations, Operating leases	$ 311

Acquisition (Narrative) (Detail

Acquisition (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Dec. 31, 2018USD ($)Boe / dMMBoe	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	[1]
Business Acquisition [Line Items]
Revenue from sales to customers		$ 590,550	$ 396,329
Income (loss) from continuing operations before income taxes		33,745	$ (21,058)
Petrobas America Inc [Member]
Business Acquisition [Line Items]
Production capacity | Boe / d	50,000
Proved reserves | MMBoe	97
Acquisition, cash paid	$ 788,724
Percentage of interest in subsidiary transferred	20.00%
Revenue from sales to customers		234,000
Income (loss) from continuing operations before income taxes		$ 147,700
Petrobas America Inc [Member] | Sales Thresholds 2019 to 2022 [Member]
Business Acquisition [Line Items]
Contingent consideration, maximum	$ 150,000
MP Gulf Of Mexico LLC [Member]
Business Acquisition [Line Items]
Parent ownership interest	80.00%
Petrobas America Inc [Member] | MP Gulf Of Mexico LLC [Member]
Business Acquisition [Line Items]
Noncontrolling ownership interest	20.00%
[1]	Reclassified to conform to current presentation (see Note A).

Acquisition (Preliminary Purcha

Acquisition (Preliminary Purchase Price Allocation) (Details) - Petrobas America Inc [Member] $ in Thousands	1 Months Ended
	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Cash consideration paid to PAI	$ 788,724
Fair value of net assets contributed	154,469
Contingent consideration	52,540
NCI in acquired assets	248,933
Total purchase consideration	1,244,666
Fair value of Property, Plant and Equipment	1,627,429
Other assets	5,628
Less: Asset retirement obligations	(388,391)
Total net assets	$ 1,244,666

Acquisition (Pro Forma Financia

Acquisition (Pro Forma Financial Information) (Details) - Petrobas America Inc [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)$ / shares
Business Acquisition [Line Items]
Revenues | $	$ 579,080
Net Income Attributable to Murphy | $	$ 211,497
Net Income Attributable to Murphy per Common Share, Basic | $ / shares	$ 1.22
Net Income Attributable to Murphy per Common Share, Diluted | $ / shares	$ 1.21

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Scenario, Forecast [Member] | Gulf of Mexico Assets [Member]
Subsequent Event [Line Items]
Cost of acquired assets, cash paid	$ 1,375
Scenario, Forecast [Member] | Gulf of Mexico Assets [Member] | Sales Thresholds 2019 to 2022 [Member]
Subsequent Event [Line Items]
Contingent consideration, maximum	200
Scenario, Forecast [Member] | Gulf of Mexico Assets [Member] | Oil Recovery Projects [Member]
Subsequent Event [Line Items]
Contingent consideration, maximum	$ 50
2018 Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Credit facility maximum borrowing capacity		$ 1,600