Murphy Oil Corporation announced unaudited consolidated earnings and operating results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported revenues were $7,389,228,000 compared to $6,794,033,000 for the same period a year ago. Income from continuing operations before income taxes was $406,639,000 compared to $526,711,000 for the same period a year ago. Income from continuing operations of $162,391,000 compared to loss from continuing operations $117,953,000 for the same period a year ago. Net income was $158,687,000 or $0.82 per diluted share compared to net loss of $113,928,000 or $0.59 per diluted share for the same period a year ago. Diluted income per common share from continuing operations was $0.84 compared to $0.61 for the same period a year ago.

For the year, the company revenues were $28,626,046,000 compared to $27,638,121,000 for the same period a year ago. Income from continuing operations before income taxes was $1,360,312,000 compared to $1,406,197,000 for the same period a year ago. Income from continuing operations was $964,046,000 compared to $729,471,000 for the same period a year ago. Net income was $970,876,000 or $4.99 per diluted share compared to $872,702,000 or $4.49 per diluted share for the same period a year ago. Diluted income per common share from continuing operations was $4.95 compared to $3.75 for the same period a year ago. The company reported capital expenditure results for the full year 2012. Capital expenditures for 2012 totaled about $4.4 billion, approximately 97% or a little over $4.2 billion was spent in the E&P segment, approximately $583 million in exploration, $311 million for crude property acquisitions and the remainder for development projects.

The company provided earnings and production guidance for the first quarter of 2013. For the period, the company anticipate total worldwide production volumes of 200,000 barrels of oil equivalent per day. Sales volumes of oil and natural gas are projected to average 202,000 barrels of oil equivalent per day during the quarter. At the present time, The company expect income from continuing operations in the first quarter to range between $0.55 and $0.90 per diluted share. The first quarter estimate includes projected exploration expense of between $70 million and $140 million, and a loss from downstream businesses of approximately $10 million. For 2013, the company's budget of capital expenditures, which were approved by the board in early December, totaled $4.3 billion with approximately 95% or about $4.1 billion slated for the E&P segment.