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EXHIBIT 11
UNION PACIFIC RESOURCES GROUP INC.
COMPUTATION OF EARNINGS PER SHARE
(Shares in Thousands)
(Unaudited)
Nine Months
Ended September 30,
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1995 1996
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(Pro forma)
(a)
Average number of shares outstanding............... 248,896 248,932
Average shares issuable on exercise of stock
options less shares repurchasable from
proceeds......................................... 778 913
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Total average number of common and common
equivalent shares................................ 249,674 249,845
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Net income (millions) (see Note 2 to the Condensed
Consolidated Financial Statements)............... $ 177.0 $ 206.5
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Earnings per share................................. $ 0.71 $ 0.83
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(a) Pro forma earnings per share is based upon the average number of common
shares outstanding from the date of the Company's initial public offering
(October 10, 1995) until December 31, 1995.