EX-12.1 2 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

GOODRICH PETROLEUM CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands, Except Ratios)

 

 

     Year ended December 31,
     2005     2004    2003    2002     2001

Earnings:

            

Income (loss) from continuing operations before income taxes

   $     (26,847 )   $     16,071    $     5,742    $     (1,428 )   $     2,947

Plus: fixed charges

     2,279       1,110      1,051      985       1,291
                                    

Earnings available for fixed charges

   $ (24,568 )   $ 17,181    $ 6,793    $ (443 )   $ 4,238
                                    

Fixed Charges:

            

Interest expense

   $ 2,279     $ 1,110    $ 1,051    $ 985     $ 1,291
                                    

Total fixed charges

   $ 2,279     $ 1,110    $ 1,051    $ 985     $ 1,291
                                    

Ratio of Earnings to Fixed Charges

     (a)       15.48      6.46      (b)       3.28
                                    

 

 

(a)

Earnings for the year ended December 31, 2005 were inadequate to cover fixed charges. The coverage deficiency was $26,847 thousand.

 

(b)

Earnings for the year ended December 31, 2002 were inadequate to cover fixed charges. The coverage deficiency was $1,428 thousand.