EX-12.1 2 h48830exv12w1.htm RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

Exhibit 12.1
GOODRICH PETROLEUM CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands, Except Ratios)
                                         
    Year ended December 31,  
    2006     2005     2004     2003     2002  
Earnings:
                                       
Income (loss) from continuing operations before income taxes
  $ 14,419     $ (37,554 )   $ (3,606 )   $ (7,768 )   $ (6,771 )
Plus: fixed charges
    7,845       2,359       1,110       1,051       985  
 
                             
Earnings available for fixed charges
  $ 22,264     $ (35,195 )   $ (2,496 )   $ (6,717 )   $ (5,786 )
 
                             
 
                                       
Fixed Charges:
                                       
Interest expense
  $ 7,845     $ 2,359     $ 1,110     $ 1,051     $ 985  
 
                             
Total fixed charges
  $ 7,845     $ 2,359     $ 1,110     $ 1,051     $ 985  
 
                             
 
                                       
Ratio of Earnings to Fixed Charges
    2.84       (a )     (b )     (c )     (d )
 
                             
 
(a)   Earnings for the year ended December 31, 2005 were inadequate to cover fixed charges. The coverage deficiency was $37,554 thousand.
 
(b)   Earnings for the year ended December 31, 2004 were inadequate to cover fixed charges. The coverage deficiency was $3,606 thousand.
 
(c)   Earnings for the year ended December 31, 2003 were inadequate to cover fixed charges. The coverage deficiency was $7,768 thousand.
 
(d)   Earnings for the year ended December 31, 2002 were inadequate to cover fixed charges. The coverage deficiency was $6,771 thousand.