Exhibit 12.1

                     COMPUTATION OF DEBT TO ADJUSTED EBITDA
                           CONTINENTAL RESOURCES, INC.

                                               YEAR ENDED DECEMBER 31,
                                  ---------------------------------------------------
                                  1996         1997       1998        1999       2000
                                  ----         ----       ----        ----       ----
                                                                
NET INCOME                        13,325     26,197     (17,980)      3,920     37,780

INCOME TAXES                       8,238     (8,941)         --          --         --

INTEREST EXPENSE                   4,550      4,804      12,248      16,534     15,786

DD&A                              22,876     33,354      38,716      20,385     21,945

EXPLORATION EXPENSE                4,513      6,807       7,106       7,750     13,321

LITIGATION SETTLEMENT                 --     (7,500)         --          --         --
                                --------   --------    --------    --------   --------

ADJUSTED EBITDA               53,502     54,721      40,090      48,589     88,832

TOTAL DEBT                        54,759     79,632     167,639     170,637    140,350

TOTAL DEBT TO ADJUSTED EBITDA        1.0        1.5         4.2         3.5        1.6

---------------------

 Adjusted EBITDA represents earnings before interest expense,  income taxes,
     depreciation,  depletion,  amortization and exploration expense,  excluding
     proceeds from litigation  settlements.  Adjusted EBITDA is not a measure of
     cash  flow  as  determined  by  generally  accepted  accounting  principles
     ("GAAP"). Adjusted EBITDA should not be considered as an alternative to, or
     more  meaningful  than, net income or cash flow as determined in accordance
     with  GAAP or as an  indicator  of a  company's  operating  performance  or
     liquidity.  Certain items  excluded from  Adjusted  EBITDA are  significant
     components   in   understanding   and   assessing  a  company's   financial
     performance, such as a company's cost of capital and tax structure, as well
     as historic  costs of depreciable  assets,  none of which are components of
     Adjusted EBITDA.  The Company's  computations of Adjusted EBITDA may not be
     comparable  to other  similarly  titled  measures of other  companies.  The
     Company  believes  that  Adjusted  EBITDA is a widely  followed  measure of
     operating  performance  and may also be used by  investors  to measure  the
     Company's ability to meet future debt service requirements, if any.