EX-12.1 10 a13-20972_1ex12d1.htm EX-12.1

Exhibit 12.1

 

KODIAK OIL & GAS CORP.

RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

For the six
months ended

 

For the years ended December 31,

 

 

 

June 30, 2013

 

2012

 

2011

 

2010

 

2009

 

2008

 

 

 

(in thousands)

 

(in thousands)

 

Pretax income (loss) from continuing operations

 

$

102,594

 

$

158,384

 

$

3,875

 

$

(2,402

)

$

(2,563

)

$

(56,498

)

Add: Fixed charges

 

43,830

 

69,090

 

27,475

 

565

 

36

 

22

 

Add: Amortization of capitalized interest

 

2,363

 

2,604

 

241

 

—

 

—

 

—

 

Less: Capitalized interest

 

(15,900

)

(46,000

)

(8,374

)

(470

)

—

 

—

 

Earnings before fixed charges

 

$

132,886

 

$

184,078

 

$

23,217

 

$

(2,307

)

$

(2,527

)

$

(56,476

)

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated interest component of rent

 

$

58

 

$

130

 

$

111

 

$

12

 

$

11

 

$

15

 

Capitalized interest

 

15,900

 

46,000

 

8,374

 

470

 

—

 

—

 

Interest expense

 

27,872

 

22,960

 

18,990

 

83

 

25

 

7

 

Total Fixed charges

 

$

43,830

 

$

69,090

 

$

27,475

 

$

565

 

$

36

 

$

22

 

Ratio of Earnings to Fixed charges

 

3.03

 

2.66

 

—

 

—

 

—

 

—

 

Insufficient coverage

 

$

89,056

 

$

114,987

 

$

(4,258

)

$

(2,872

)

$

(2,563

)

$

(56,498

)