Research Alert: Mur: Free Cash Flow Turned Positive In Q1
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:MUR posted Q1 adjusted EPS of $0.32, beating consensus of $0.31 by $0.01 but declining from $0.56 in the prior year due to significantly higher exploration expenses of $82.8M versus $14.5M. Production of 174,200 boe/d exceeded guidance of 172,000 boe/d, driven by Eagle Ford outperformance and strong offshore uptime, while oil production of 87,200 b/d also beat expectations and revenue increased 8.9% to $732.4M. The quarter marked a positive inflection with free cash flow turning positive and adjusted EBITDAX rising 31.9% to $465.7M, demonstrating strong operational performance despite higher exploration costs in Cote d'Ivoire and Vietnam. Capital spending of $465M came in below the $540M guidance midpoint due to phasing of exploration costs to later in the year. Key development milestones remain on track, with Chinook #8 spud targeting 15,000 boe/d in H2 26, Vietnam Lac Da Vang first oil expected Q4 26, and newly approved Banjo/Cello fields targeting Q4 27 first oil.
