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Crude Oil Supply

February 2012 Crude Oil Price Bulletin

Bulletin Number	Effective Date	ND Williston Basin Sweet	ND Williston Basin Sour	TX West Intermediate
21	02/01/2012	81.25 *	72.00 *	94.00
22	02/02/2012	80.00	70.75	92.75
23	02/03/2012	81.50	72.25	94.25

EDQ

80.9167

71.6667

93.6667

Gravity Adjustment

1 Less $0.015/bbl for each .1 degree API above 44.9 degrees API. Less $0.02/bbl for each full
degree API below 40.9 degrees API.

2 Less $0.015/bbl for each .1 degree API above 44.9 degrees API. Less $0.10/bbl for each full
degree API below 40.9 degrees API.

* Price Change Exception

NOTE: EFFECTIVE MARCH 1, 2012 MURPHY OIL WILL DISCONTINUE POSTING FOR ALL AREAS AND CEASE PUBLISHING A PRICE BULLETIN.

For More Information
	Sandy Hostetler Manager, Domestic Crude Oil Purchasing 999 18th St., Suite 3000 Denver, CO 80202 (303) 308-1756 Phone (303) 308-1757 Fax shostetler@murphyoilcorp.com