QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
−Removed: The Company is exposed to market risks associated with interest rates, prices of crude oil, natural gas and petroleum products, and foreign currency exchange rates.
−Removed: As described in Note L to this Form 10-Q report, Murphy, at times, makes use of derivative financial and commodity instruments to manage risks associated with existing or anticipated transactions.
−Removed: There were commodity transactions in place at September 30, 2024, covering certain future U.S.
−Removed: natural gas sales volumes for the remainder of 2025.
+Added: 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.
+Added: As described in Note L , Murphy periodically makes use of derivative financial and commodity instruments to manage risks associated with existing or anticipated transactions.
+Added: Commodity Price Risk
+Added: There were commodity transactions in place as of March 31, 2025, covering certain future U.S.
+Added: 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 $6.4 million, while a 10% decrease would have decreased the recorded net payable by a similar amount.
−Removed: There were no derivative foreign exchange contracts in place at September 30, 2024.
+Added: Foreign Exchange Risk
+Added: There were no derivative foreign exchange contracts in place at March 31, 2025.
+Added: Interest Rate Risk
+Added: The Company’s RCF provides for variable interest rate borrowings.
+Added: As of March 31, 2025, we had $200.0 million of outstanding borrowings under the RCF.
+Added: Assuming no change in the amount of borrowings outstanding under the RCF, a 10% increase in the average interest rate would have increased our interest expense by approximately $0.1 million.
+Added: Actual results may vary due to changes in the amount of variable rate debt outstanding.
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.