EX-12.1 6 d470695dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

GOODRICH PETROLEUM CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands, Except Ratios)

 

     Nine Months
Ended

September 30,
2012
   

 

Year ended December 31,

 
     2011     2010     2009     2008      2007  

Earnings:

             

Income (loss) before income taxes

   $ (8,526   $ (31,758   $ (262,205   $ (318,297   $ 176,246       $ (59,476

Plus: fixed charges

     39,316        49,351        37,179        26,148        22,410         17,878   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Earnings available for fixed charges

   $ 30,790      $ 17,593      $ (225,026   $ (292,149   $ 198,656       $ (41,598
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Fixed Charges:

             

Interest expense

   $ 39,316      $ 49,351      $ 37,179      $ 26,148      $ 22,410       $ 17,878   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Total fixed charges

   $ 36,316      $ 49,351      $ 37,179      $ 26,148      $ 22,410       $ 17,878   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Ratio of Earnings to Fixed Charges

     (a     (b     (c     (d     8.86         (e
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

 

(a) Earnings for the nine months ended September 30, 2012 were inadequate to cover fixed charges. The coverage deficiency was $8.5 million.
(b) Earnings for the year ended December 31, 2011 were inadequate to cover fixed charges. The coverage deficiency was $31.8 million.
(c) Earnings for the year ended December 31, 2010 were inadequate to cover fixed charges. The coverage deficiency was $262.2 million.
(d) Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $318.3 million.
(e) Earnings for the year ended December 31, 2007 were inadequate to cover fixed charges. The coverage deficiency was $59.5 million.