Murphy Oil Corporation announced unaudited consolidated earnings and production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported revenues of $1,407,626,000 against $1,347,669,000 a year ago. Income from continuing operations before income taxes was $217,003,000 against $194,848,000 a year ago. Income from continuing operations was $441,961,000 or $2.48 per diluted share against $180,487,000 or $0.96 per diluted share a year ago. Net income was $375,238,000 or $2.10 per diluted share compared to $75,421,000 or $0.40 per diluted share a year ago. Net cash provided by continuing operations was $714,596,000 against $992,742,000 a year ago. Property additions and dry holes1 were $872,759,000 against $894,837,000 a year ago. Adjusted earnings were $69.0 million or $0.39 per diluted share compared to $125.8 million or $0.67 per diluted share a year ago. EBITDA was $802.3 million compared to $631.7 million a year ago.

For the full year, the company reported revenues of $5,476,084,000 against $5,390,089,000 a year ago. Income from continuing operations before income taxes was $1,252,270,000 against $1,472,687,000 a year ago. Income from continuing operations was $1,024,973,000 or $5.69 per diluted share against $888,137,000 or $4.69 per diluted share a year ago. Net income was $905,611,000 or $5.03 per diluted share compared to $1,123,473,000 or $5.94 per diluted share a year ago. Net cash provided by continuing operations was $3,048,716,000 against $3,210,695,000 a year ago. Property additions and dry holes were $3,679,464,000 against $3,590,344,000 a year ago. Adjusted earnings were $611.1 million or $3.39 per diluted share compared to $805.1 million or $4.25 per diluted share a year ago. EBITDA was $3,274.3 million compared to $3,098.0 million a year ago.

For the quarter, the company reported impairment of assets of $51,314,000.

For the fourth quarter, the company reported production of 258,868 barrels of oil equivalent per day (boepd).

For the year, the company reported production of 225,973 boepd, up 10% from 2013.

For full year 2015, capital expenditures are expected to be approximately $2.3 billion, 33% lower than the 2014 capital program, which includes a 46% reduction in the EFS, adjusted for the Malaysia sell-down. Production is expected to be in the range of 195,000 boepd to 207,000 boepd.

For the first quarter of 2015, production is estimated at 221,000 boepd. Total net sales are estimated at 230,000 (BOEPD).