Exhibit 12.1

DIAMOND OFFSHORE DRILLING, INC.
Statement re Computation of Ratios
(In Thousands of Dollars)

Ratio of Earnings to Fixed Charges:

	Year Ended December 31,
	2010		2009		2008			2007			2006
Computation of Earnings:
Pretax income (loss) from continuing operations	$	1,336,016	$	1,868,431	$	1,847,046		$	1,243,372		$	954,030
Less Interest capitalized during the period and actual preferred dividend requirements of majority-owned subsidiaries and 50%-owned persons included in fixed charges but not deducted from pretax income from above		—		—		(16,870	)		(19,320	)		(14,951	)
Add: Previously capitalized interest amortized during the period		3,400		3,400		2,428			1,928			1,652
Total earnings (losses), before fixed charge addition		1,339,416		1,871,831		1,832,604			1,225,980			940,731
Computation of Fixed Charges:
Interest, including interest capitalized		93,334		51,585		28,842			40,648			52,185
Total fixed charges		93,334		51,585		28,842			40,648			52,185
Total Earnings (Losses) and Fixed Charges	$	1,432,750	$	1,923,416	$	1,861,446		$	1,266,628		$	992,916
Ratio of Earnings (Losses) to Fixed Charges (1)		15.35		37.29		64.54			31.16			19.03

(1) For purposes of this ratio, fixed charges include (i) interest, whether expensed or capitalized, (ii) amortization of debt issuance costs, whether expensed or capitalized, and (iii) a portion of rent expense, which we believe represents the interest factor attributable to rent.