MURPHY OIL CORP 10-K

Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK The Company is exposed to market risks associated with prices of crude oil, natural gas and petroleum products, foreign currency exchange rates and interest rates. As described in Note K , Murphy periodically makes use of derivative financial and commodity instruments to manage risks associated with existing or anticipated transactions. 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. Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA Information required by this item appears on pages 66 through 123 of this Form 10-K report. Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE None.