1



                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                                (AMENDMENT NO. 5)

                             MURPHY OIL CORPORATION
                                (NAME OF ISSUER)

                                  COMMON STOCK
                         (TITLE OF CLASS OF SECURITIES)

                                   626717 10 2
                                 (CUSIP NUMBER)


Check the following box if a fee is being paid with the statement: [ ] (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1: and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).

* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).





   2
                                  SCHEDULE 13G


CUSIP NO:  626717 10 2

1.       NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         First United Bancshares, Inc. # 71-0538646

2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP                [X] (a)
                                                                         [ ] (b)

3.       SEC USE ONLY 
                      ---------------------------------------

4.       CITIZENSHIP OR PLACE OF ORGANIZATION                       Arkansas

Number of Shares Beneficially owned by Each Reporting Person With:

         5.       SOLE VOTING POWER                                    81,861

         6.       SHARED VOTING POWER                               2,444,553

         7.       SOLE DISPOSITIVE POWER                               81,861

         8.       SHARED DISPOSITIVE POWER                          2,444,553

9.       AGGREGATE AMOUNT BENEFICIALLY OWNED BY                     2,526,414(1)
         EACH REPORTING PERSON

10.      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9
         EXCLUDES CERTAIN SHARES                                    [ ]

11.      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9            5.6192128%

12.      TYPE OF REPORTING PERSON                                   HC

         (1) The shares reported hereunder by reporting person are held in
various trust accounts administered by First United Trust Company, N.A., which
is a wholly-owned subsidiary of reporting person. As such reporting person is
filing this Schedule 13G on behalf of the above-named subsidiary pursuant to
Regulation 240.13d-1(f)(1), and for the purposes of Section 13(g) of the
Securities Exchange Act, expressly disclaims beneficial ownership of any
securities covered by this statement. In accordance with Regulation
240.13d-1(f)(1), see Exhibit 1 attached hereto which is an agreement reflecting
that this statement is filed on behalf of the above-mentioned subsidiary.

 

   3
                                  SCHEDULE 13G



CUSIP NO:  626717 10 2

1.       NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

         First United Trust Company, N.A., # 71-0792147

2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP               [X]  (a)
                                                                        [ ]  (b)


3.       SEC USE ONLY 
                      ------------------------------------------

4.       CITIZENSHIP OR PLACE OF ORGANIZATION                      United States

Number of Shares Beneficially owned by Each Reporting Person With:

         5.       SOLE VOTING POWER                                    81,861

         6.       SHARED VOTING POWER                               2,444,553

         7.       SOLE DISPOSITIVE POWER                               81,861

         8.       SHARED DISPOSITIVE POWER                          2,444,553

9.       AGGREGATE AMOUNT BENEFICIALLY OWNED BY                     2,526,414(1)
         EACH REPORTING PERSON

10.      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9
         EXCLUDES CERTAIN SHARES                                    [ ]

11.      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9            5.6192128%

12.      TYPE OF REPORTING PERSON                                   OO


         (1) The shares reported hereunder by First United Trust Company, N.A.
are held in trust and voted by the company as Trustee.



 

   4
Item 1(a)         Name of Issuer:         Murphy Oil Corporation.

Item 1(b)         Address of Issuer's Principal Executive Offices:

                                          200 Peach Street
                                          El Dorado, Arkansas 71730

Item 2(a)         Name of Persons Filing:

                                          First United Bancshares, Inc.
                                          First United Trust Company, N.A.

Item 2(b)         Address of Principal Business Office or, if none, Residence:

First United Bancshares, Inc.             First United Trust Company, N.A.
Main and Washington Streets               Main and Washington Streets
El Dorado, Arkansas 71730                 El Dorado, Arkansas  71730

Item 2(c)         Citizenship:            (See Item 4 of each cover page hereto)

Item 2(d)         Title of Class of Securities:

                                          Common Stock

Item 2(e)         CUSIP Number:           626717 10 2

Item 3.           If this statement is filed pursuant to Rules 13d-1(b), or
                  13d-2(b), check whether the person filing is a:

                  (a)  [ ]  Broker or Dealer registered under Section 15 of 
                            the Act
                  (b)  [ ]  Bank as defined in section 3(a)(6) of the Act
                  (c)  [ ]  Insurance Company as defined in section 3(a)(19) of
                            the Act
                  (d)  [ ]  Investment Company registered under section 8 of the
                            Investment Company Act
                  (e)  [ ]  Investment Adviser registered under section 203 of 
                            the Investment Advisers Act of 1940
                  (f)  [ ]  Employee Benefit Plan, Pension Fund which is subject
                            to the provisions of the Employee Retirement Income 
                            Security Act of 1974 or Endowment Fund; See Section
                            240.13d-1(b) (1) (ii) (F)
                  (g)  [X]  Parent Holding Company, in accordance with Section 
                            240.13d-1(b)(ii)(G)

If this Statement is filed pursuant to Rule 13d-1(b) (2), check this box:   [ ]

 

   5
Item 4.      Ownership

         (a) Amount Beneficially Owned:  (See Item 9 of each cover page hereto)

         (b) Percent of Class:           (See Item 11 of each cover page hereto)

         (c) Number of Shares as to which such person has:

             (i)      sole power to vote or to direct the vote                 *

             (ii)     shared power to vote or to direct the vote               *

             (iii)    sole power to dispose or to direct the disposition of    *

             (iv)     shared power to dispose or direct the disposition of     *

         *   (See Items 5-8 of each cover page hereto.)

Item 5.      Ownership of Five Percent or Less of a Class

                      Not Applicable

Item 6.      Ownership of More than Five Percent on Behalf of Another Person

                      Not Applicable

Item7.       Identification and Classification of the Subsidiary Which Acquired 
             the Security Being Reported on by the Parent Holding Company

             The Schedule is being filed by First United Bancshares, Inc. on
             behalf of its wholly owned subsidiary, First United Trust Company,
             N.A. which holds the Issuer's common stock as trustee for various
             beneficiaries pursuant to granted trust authority.

Item 8.      Identification and Classification of Members of the Group

                      See Item 2(a) above and each cover page hereto.

Item 9.      Notice of Dissolution of Group

                      Not Applicable

Item 10.     Certification

                      Not Applicable

 

   6



         After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


                                  February 4, 1999


                                  FIRST UNITED BANCSHARES, INC.


                                  By: /s/ JAMES V. KELLEY
                                      -----------------------------------
                                  Title: Chairman and President



 

   7


                                    EXHIBIT 1



                                    Agreement



         In accordance with 17 C.F.R. Section 240.13d-1(f)(1)(iii), the 
undersigned hereby agrees and consents to the filing of the Schedule 13G by
First United Bancshares, Inc. on our behalf regarding the beneficial ownership
of the common stock of Murphy Oil Corporation, said stock held in trust pursuant
to granted trust authority.


                                  FIRST UNITED TRUST COMPANY, N.A.


                                  By:       /s/ Richard P. Clark, II
                                      -----------------------------------------
                                  Title:    President & Chief Executive Officer