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,  
     2009     2008    2007     2006    2005  

Earnings:

            

Income (loss) from continuing operations before income taxes

   $ (318,322   $ 176,748    $ (59,476   $ 13,921    $ (37,554

Plus: fixed charges

     26,148        22,410      17,878        8,343      2,359   
                                      

Earnings available for fixed charges

   $ (292,174   $ 199,158    $ (41,598   $ 22,264    $ (35,195
                                      

Fixed Charges:

            

Interest expense

   $ 26,148      $ 22,410    $ 17,878      $ 8,343    $ 2,359   
                                      

Total fixed charges

   $ 26,148      $ 22,410    $ 17,878      $ 8,343    $ 2,359   
                                      

Ratio of Earnings to Fixed Charges

     (a     8.89      (b     2.67      (c
                                      

 

(a) Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $318.3 million.
(b) Earnings for the year ended December 31, 2007 were inadequate to cover fixed charges. The coverage deficiency was $59.5 million.
(c) Earnings for the year ended December 31, 2005 were inadequate to cover fixed charges. The coverage deficiency was $37.6 million.