EX-12.1 4 exhibit12-1.htm STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES exhibit12-1.htm
 



Exhibit 12.1

WHITING PETROLEUM CORPORATION AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(dollars in thousands)

   
Year Ended December 31,
 
   
2007
   
2006
   
2005
   
2004
   
2003
 
Fixed charges:
                             
Interest expensed
  $ 65,977     $ 66,265     $ 35,245     $ 11,800     $ 7,867  
Interest capitalized
    3,664       556       -       200       -  
Amortized premiums, discounts and capitalized expenses related to indebtedness
    6,527       7,224       6,802       4,056       1,310  
Estimate of interest within rental expense
    424       386       298       182       209  
Total fixed charges
  $ 76,592     $ 74,431     $ 42,345     $ 16,238     $ 9,386  
                                         
Earnings:
                                       
Income before income taxes
  $ 207,162     $ 233,272     $ 196,098     $ 114,005     $ 36,139  
Income from equity investees
    (1,365 )     (282 )     (409 )     -       -  
Fixed charges (above)
    76,592       74,431       42,345       16,238       9,386  
Amortization of capitalized interest
    97       41       41       21       21  
Distributed income from equity investees
    928       987       657       -       -  
Interest capitalized
    (3,664 )     (556 )     -       (200 )     -  
Total earnings                                                       
  $ 279,750     $ 307,893     $ 238,732     $ 130,064     $ 45,546  
Ratio of earnings to fixed charges (unaudited)
    3.65 x     4.14 x     5.64 x     8.01 x     4.85 x