Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

	Successor											Predecessor
	Three Months Ended March 31,		Year ended December 31,						September 1 through December 31			January 1 through August 31			Year ended December 31,
	2015		2014			2013			2012			2012			2011			2010
Income (loss) before income taxes	$	527	$	(47,496	)	$	(79,173	)	$	(11,596	)	$	(177,033	)	$	(487,531	)	$	(104,131	)
Add back
Interest expense and financing costs, net		5,557		19,783			19,426			1,056			6,582			32,324			30,168
Estimate of interest component of rental expense (1)		2,402		9,966			2,046			20			13			363			561
Equity losses from Piceance Energy, LLC		1,826		(2,849	)		2,941			1,325			20			(344	)		(1,738	)
Earnings		10,312	$	(20,596	)	$	(54,760	)	$	(9,195	)	$	(170,418	)	$	(455,188	)	$	(75,140	)
Fixed charges
Interest expense and financing costs, net		5,557		19,783			19,426			1,056			6,582			32,324			30,168
Estimate of interest component of rental expense		2,402		9,966			2,046			20			—			363			561
Total Fixed charges		7,959	$	29,749		$	21,472		$	1,076		$	6,582		$	32,687		$	30,729
Ratio of earnings to fixed charges (1)		1.3		NA	(1)		NA	(1)		NA	(1)		NA	(1)		NA	(1)		NA	(1)
Amount by which fixed charges exceed earnings		—		(50,345	)		(76,232	)		(10,271	)		(177,000	)		(487,875	)		(105,869	)

(1) Consists of 33% of rental expense, which we believe to be a reasonable estimate of interest factor in our rental expense.