What changed 10-K

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

2025-02-27 compared with 2024-02-23 · 8 added, 1 removed, 9 unchanged (50% of the section changed)

2 unchanged sentences

As described in Note K , Murphy periodically makes use of derivative financial and commodity instruments to manage risks associated with existing or anticipated transactions.

There were no outstanding crude oil derivative contracts as of December 31, 2023.

Commodity Price Risk

There were commodity transactions in place as of December 31, 2024, covering certain future U.S.

natural gas sales volumes in 2025.

A 10% increase in the respective benchmark price of these commodities would have increased the net payable associated with these derivative contracts by approximately $2.5 million, while a 10% decrease would have decreased the recorded payable by a similar amount, resulting in a receivable.

Foreign Exchange Risk

There were no derivative foreign exchange contracts in place as of December 31, 2024.

Interest Rate Risk

At December 31, 2024, long-term debt was $1,274.5 million.

The fixed-rate notes have a weighted average coupon of 6.1%.

The Company’s RCF provides for variable interest rate borrowings;

however, we did not have any borrowings outstanding as of December 31, 2024 and, therefore, no related exposure to interest rate risk.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.