EX-12.1 4 d645377dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

 

GOODRICH PETROLEUM CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands, Except Ratios)

 

     Year ended December 31,  
     2013     2012     2011     2010     2009  

Earnings:

          

Income (loss) before income taxes

   $ (95,186   $ (84,202   $ (31,758   $ (262,205   $ (318,297

Plus: fixed charges

     51,187        52,403        49,351        37,179        26,148   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings available for fixed charges

   $ (43,999   $ (31,799   $ 17,593      $ (225,026   $ (292,149
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

          

Interest expense

   $ 51,187      $ 52,403      $ 49,351      $ 37,179      $ 26,148   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 51,187      $ 52,403      $ 49,351      $ 37,179      $ 26,148   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings to Fixed Charges

       (a )        (b)        (c)        (d )        (e) 
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Earnings for the year ended December 31, 2013 were inadequate to cover fixed charges. The coverage deficiency was $95.2 million.
(b) Earnings for the year ended December 31, 2012 were inadequate to cover fixed charges. The coverage deficiency was $84.2 million.
(c) Earnings for the year ended December 31, 2011 were inadequate to cover fixed charges. The coverage deficiency was $31.8 million.
(d) Earnings for the year ended December 31, 2010 were inadequate to cover fixed charges. The coverage deficiency was $262.2 million.
(e) Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $318.3 million.