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,  
     2008    2007     2006    2005     2004  

Earnings:

            

Income (loss) from continuing operations before income taxes

   $ 183,296    $ (53,468 )   $ 14,419    $ (37,554 )   $ (3,606 )

Plus: fixed charges

     15,862      11,870       7,845      2,359       1,110  
                                      

Earnings available for fixed charges

   $ 199,158    $ (41,598 )   $ 22,264    $ (35,195 )   $ (2,496 )
                                      

Fixed Charges:

            

Interest expense

   $ 15,862    $ 11,870     $ 7,845    $ 2,359     $ 1,110  
                                      

Total fixed charges

   $ 15,862    $ 11,870     $ 7,845    $ 2,359     $ 1,110  
                                      

Ratio of Earnings to Fixed Charges

     12.56      (a )     2.84      (b )     (c )
                                      

 

(a) Earnings for the year ended December 31, 2007 were inadequate to cover fixed charges. The coverage deficiency was $53.5 million.

 

(b) Earnings for the year ended December 31, 2005 were inadequate to cover fixed charges. The coverage deficiency was $37.6 million.

 

(c) Earnings for the year ended December 31, 2004 were inadequate to cover fixed charges. The coverage deficiency was $3.6 million.