Exhibit 12

Murphy Oil Corporation and Consolidated Subsidiaries

Computation of Ratio of Earnings to Fixed Charges (unaudited)

(Thousands of dollars)

	Six Months
	Ended			Years Ended December 31,
	June 30, 2015			2014		2013		2012		2011		2010
Income (loss) from continuing   operations before income taxes	$	(227,819	)		1,252,270		1,472,687		1,368,010		1,167,875		1,115,639
Distributions greater than equity   in earnings of affiliates		2,361			4,962		5,204		6,648		2,622		5,343
Previously capitalized interest   charged to earnings during period		13,575			19,760		16,896		18,061		18,757		29,401
Interest and expense on indebtedness,    excluding capitalized interest		56,728			115,819		71,900		14,932		40,700		34,728
Interest portion of rentals(1)		13,478			46,528		44,478		42,103		42,235		44,122
Earnings (loss) before provision   for taxes  and fixed charges	$	(141,677	)		1,439,339		1,611,165		1,449,754		1,272,189		1,229,233
Interest and expense on indebtedness,   excluding capitalized interest		56,728			115,819		71,900		14,932		40,700		34,728
Capitalized interest		3,208			20,605		52,523		39,173		15,131		18,444
Interest portion of rentals(1)		13,478			46,528		44,478		42,103		42,235		44,122
Total fixed charges	$	73,414			182,952		168,901		96,208		98,066		97,294
Ratio of earnings to fixed charges		–	(2)		7.9		9.5		15.1		13.0		12.6

⁽¹⁾ Calculated as one-third of rentals. Considered a reasonable approximation of interest factor.

⁽²⁾ Earnings for the six-month period ended June 30, 2015 were inadequate to cover fixed charges by $215,091.