Exhibit 12.1

ATP Oil & Gas Corporation

Statement Re Computation of Ratios

Amounts in $000’s, except as noted

Calculation of ratio of earnings to fixed charges and earnings to combined fixed charges and preference dividends per Reg S-K, Item 503(d):

	Year Ended December 31,
	2007			2008		2009			2010			2011
Net income (loss)	$	48,620		$	121,705	$	(35,581	)	$	(322,046	)	$	(165,277	)
Income taxes		(631	)		49,973		(22,534	)		(36,273	)		18,068
Pre-tax income (loss) from continuing operations		47,989			171,678		(58,115	)		(358,319	)		(147,209	)
Add:
Interest expense, net		121,302			100,729		40,884			222,104			326,411
Less:
Noncontrolling interest in pre-tax income of ATPIP		—			—		(13,380	)		(23,851	)		(40,957	)
Earnings	$	169,291		$	272,407	$	(30,611	)	$	(160,066	)	$	138,245
Interest incurred (expensed and capitalized)	$	129,319		$	145,300	$	150,947		$	275,358		$	355,657
Fixed charges	$	129,319		$	145,300	$	150,947		$	275,358		$	355,657
Preference security dividends (pre-tax)		—			—		4,394			17,305			28,589
Combined fixed charges and preference dividends	$	129,319		$	145,300	$	155,341		$	292,662		$	384,246
Ratio of Earnings to Fixed Charges		1.31 x			1.87 x		-0.20 x			-0.58 x			0.39 x
Ratio of Earnings to Fixed Charges and Preference Dividends		1.31 x			1.87 x		-0.20 x			-0.55 x			0.36 x
Shortfall - ratio of earnings to fixed charges - $ millions	$	—		$	—	$	181.6		$	435.4		$	217.4
Shortfall - ratio of earnings to fixed charges and Preference Dividends - $ millions	$	—		$	—	$	186.0		$	452.7		$	246.0