EX-12.1 3 d270440dex121.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,  
     2011     2010     2009     2008      2007  

Earnings:

           

Income (loss) before income taxes

   $ (31,758   $ (262,205   $ (318,297   $ 176,246       $ (59,476

Plus: fixed charges

     49,351        37,179        26,148        22,410         17,878   
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Earnings available for fixed charges

   $ 17,593      $ (225,026   $ (292,149   $ 198,656       $ (41,598
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Fixed Charges:

           

Interest expense

   $ 49,351      $ 37,179      $ 26,148      $ 22,410       $ 17,878   
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Total fixed charges

   $ 49,351      $ 37,179      $ 26,148      $ 22,410       $ 17,878   
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Ratio of Earnings to Fixed Charges

     (a     (b     (c     8.86         (d
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

 

(a) Earnings for the year ended December 31, 2011 were inadequate to cover fixed charges. The coverage deficiency was $31.8 million.
(b) Earnings for the year ended December 31, 2010 were inadequate to cover fixed charges. The coverage deficiency was $262.2 million.
(c) Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $318.3 million.
(d) Earnings for the year ended December 31, 2007 were inadequate to cover fixed charges. The coverage deficiency was $59.5 million.