SEC Form 5

FORM 5		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0362 Estimated average burden hours per response: 1.0
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Form 3 Holdings Reported.
	Form 4 Transactions Reported.

1. Name and Address of Reporting Person* MURPHY ROBERT MADISON (Last) (First) (Middle) P. O. BOX 7000 200 PEACH STREET (Street) EL DORADO AR 71731-7000 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol MURPHY OIL CORP /DE [ MUR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year) 12/31/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price
Common Stock							322,072	D
Common Stock							95,107.4(1)	I	Trustee for my children.
Common Stock							17,110(1)	I	Others as Trustee for children.
Common Stock							196,038	I	Limited Partnership
Common Stock							723,038	I	Beneficiary of Trusts.
Common Stock							1,237,540(1)	I	Co-Trustee of Family Trusts.
Common Stock							33,840(1)	I	Spouse.
Common Stock	03/27/2003		G	21,138	D	$0	638,684(2)(3)	I	Murphy Foundation
Common Stock	04/28/2003		G	962	D	$0	637,722(2)	I	Murphy Foundation
Common Stock	12/31/2003		J	39	A	$0	5,102(4)	I	Trustee for Murphy Thrift Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
					(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option(5)	$47.16						05/14/2004	05/14/2013	Common Stock	2,000		2,000	D
Stock Option(5)	$47.16						05/14/2005	05/14/2013	Common Stock	2,000		4,000	D
Stock Option(5)	$47.16						05/14/2006	05/14/2013	Common Stock	2,000		6,000	D

Explanation of Responses:

1. Beneficial ownership is expressly disclaimed.

2. I am President of the Foundation. Beneficial Ownership is expressly disclaimed.

3. Total reflects correction of clerical error on previous report which showed amount as 674,162.

4. Number of shares owned as of December 31, 2003.

5. Non-Employee Director Stock Option issued under Non-Employee Director Stock Plan which was approved on May 14, 2003.

	Robert Madison Murphy	01/21/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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