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                                                                      EXHIBIT 11


                       UNION PACIFIC RESOURCES GROUP INC.

                       COMPUTATION OF EARNINGS PER SHARE
                             (Shares in Thousands)
                                  (Unaudited)

<TABLE>
<CAPTION>
                                                                                         Nine Months       
                                                                                     Ended September 30,   
                                                                                  ------------------------ 
                                                                                     1995          1996    
                                                                                   --------      --------  
                                                                                  (Pro forma)              
                                                                                      (a)                  
<S>                                                                                 <C>          <C>         
Average number of shares outstanding...............                                 248,896      248,932     
                                                                                                             
Average shares issuable on exercise of stock                                                                 
  options less shares repurchasable from                                                                     
  proceeds.........................................                                     778          913     
                                                                                    -------      -------     
                                                                                                             
Total average number of common and common                                                                    
  equivalent shares................................                                 249,674      249,845     
                                                                                    =======      =======     
                                                                                                             
                                                                                                             
                                                                                                             
Net income (millions) (see Note 2 to the Condensed                                                           
  Consolidated Financial Statements)...............                                 $ 177.0      $ 206.5     
                                                                                    =======      =======     
                                                                                                             
                                                                                                             
Earnings per share.................................                                 $  0.71      $  0.83     
                                                                                    =======      =======     
</TABLE>   


(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.