EXHIBIT 12.1

Oasis Petroleum Inc.

Computation of Ratio of Earnings to Fixed Charges

	Year Ended December 31,
	2008			2009			2010		2011		2012
	(In thousands, except ratios)
Earnings
Income (loss) before income taxes	$	(34,391	)	$	(15,209	)	$	13,267	$	126,180	$	245,874
Fixed charges		2,497			1,022			1,522		29,877		70,634
Total earnings (loss)		(31,894	)		(14,187	)		14,789		156,057		316,508
Fixed charges
Interest expense	$	2,404		$	912		$	1,357	$	29,618	$	70,143
Rental expense attributable to interest		93			110			165		259		491
Total fixed charges		2,497			1,022			1,522		29,877		70,634
Ratio of earnings (loss) to fixed charges (1) (2)		—			—			9.72		5.22		4.48

(1) Due to the Company’s net pre-tax loss for the years ended December 31, 2008 and 2009, the ratio coverage was less than 1:1. The Company would have needed additional earnings of $34.4 million and $15.2 million for the years ended December 31, 2008 and 2009, respectively, to achieve a coverage of 1:1.

(2) The Company had no preferred stock outstanding for any period presented, and accordingly, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.