EXHIBIT 12.1

Murphy Oil Corporation and Consolidated Subsidiaries

Computation of Ratio of Earnings to Fixed Charges (unaudited)

(Thousands of dollars)

	Six Months Ended June 30, 2010		Years Ended December 31,
			2009	2008	2007	2006		2005
Income from continuing operations before income taxes	$	731,123	1,277,173	2,818,365	1,189,004	971,883		1,319,386
Distributions (less than) greater than equity in earnings of affiliates		2,758	4,970	1,012	294	(4,065	)	(5,514	)
Previously capitalized interest charged to earnings during period		16,736	28,275	21,898	14,585	11,741		15,564
Interest and expense on indebtedness, excluding capitalized interest		22,341	24,391	42,152	24,784	9,476		8,765
Interest portion of rentals*		15,196	28,501	29,174	13,554	14,021		9,397
Earnings before provision for taxes and fixed charges	$	788,154	1,363,310	2,912,601	1,242,221	1,003,056		1,347,598
Interest and expense on indebtedness, excluding capitalized interest		22,341	24,391	42,152	24,784	9,476		8,765
Capitalized interest		6,361	28,614	31,459	49,881	43,073		38,539
Interest portion of rentals*		15,196	28,501	29,174	13,554	14,021		9,397
Total fixed charges	$	43,898	81,506	102,785	88,219	66,570		56,701
Ratio of earnings to fixed charges		18.0	16.7	28.3	14.1	15.1		23.8

* Calculated as one-third of rentals. Considered a reasonable approximation of interest factor.

Ex. 12-1