EX-12.1 2 kogex1211231201210k.htm EXHIBIT 12.1 KOG Ex 12.1 12.31.2012 10K


KODIAK OIL & GAS CORP.
RATIO OF EARNINGS TO FIXED CHARGES
 
 
 
For the years ended December 31,
 
2012
 
2011
 
2010
 
2009
 
2008
 
(in thousands)
Pretax income (loss) from continuing operations
$
158,384

 
$
3,875

 
$
(2,402
)
 
$
(2,563
)
 
$
(56,498
)
   Add: Fixed charges
69,090

 
27,475

 
565

 
36

 
22

   Add: Amortization of capitalized interest
2,604

 
241

 
—

 
—

 
—

   Less: Capitalized interest
(46,000
)
 
(8,374
)
 
(470
)
 
—

 
—

     Earnings before fixed charges
$
184,078

 
$
23,217

 
$
(2,307
)
 
$
(2,527
)
 
$
(56,476
)
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
  Estimated interest component of rent
$
130

 
$
111

 
$
12

 
$
11

 
$
15

  Capitalized interest
46,000

 
8,374

 
470

 
—

 
—

  Interest expense
22,960

 
18,990

 
83

 
25

 
7

     Total Fixed charges
$
69,090

 
$
27,475

 
$
565

 
$
36

 
$
22

 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed charges
2.66

 
—

 
—

 
—

 
—

 
 
 
 
 
 
 
 
 
 
Insufficient coverage
$
—

 
$
(4,258
)
 
$
(2,872
)
 
$
(2,563
)
 
$
(56,498
)