EXHIBIT 12.1

MURPHY OIL CORPORATION AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)

(THOUSANDS OF DOLLARS)

	Years Ended December 31,
	2008		2007	2006		2005		2004
Income from continuing operations before income taxes	$	2,818,551	1,237,232	1,038,398		1,385,115		810,812
Distributions (less than) greater than equity in earnings of affiliates		1,012	294	(4,065	)	(5,514	)	(4,225	)
Previously capitalized interest charged to earnings during period		21,898	14,585	11,741		15,564		14,065
Interest and expense on indebtedness		43,679	25,612	9,476		8,765		34,064
Interest portion of rentals*		29,174	13,554	14,021		9,397		7,908
Earnings before provision for taxes and fixed charges	$	2,914,314	1,291,277	1,069,571		1,413,327		862,624
Interest and expense on indebtedness, excluding capitalized interest	$	43,679	25,612	9,476		8,765		34,064
Capitalized interest		31,459	49,881	43,073		38,539		22,160
Interest portion of rentals*		29,174	13,554	14,021		9,397		7,908
Total fixed charges	$	104,312	89,047	66,570		56,701		64,132
Ratio of earnings to fixed charges		27.9	14.5	16.1		24.9		13.5

* Calculated as one-third of rentals, which is considered a reasonable approximation of interest factor.

Ex. 12-1