EXHIBIT 12.1

Noble Energy, Inc.

Calculation of Ratio of Earnings to Fixed Charges

				Year Ended December 31,
	2008			2007			2006			2005			2004
	(in millions)
Income from continuing operations before income tax and income from equity investees	$	1,887		$	1,157		$	957		$	878		$	435
Add (deduct)
Fixed charges		109			134			134			99			63
Interest capitalized		(33	)		(17	)		(13	)		(9	)		(8	)
Distributed income from equity investees		221			227			37			60			57
Earnings as defined	$	2,184		$	1,501		$	1,115		$	1,028		$	547
Net interest expense		69			113			117			87		$	54
Interest capitalized		33			17			13			9			8
Interest portion of rental expense		7			4			4			3			1
Fixed charges as defined	$	109		$	134		$	134		$	99		$	63
Ratio of earnings to fixed charges		20.0			11.2			8.3			10.4			8.7

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