Exhibit 12.1

Stone Energy Corporation

Computation of Ratio of Earnings to Fixed Charges

(Amounts in thousands of dollars)

	Six Months Ended June 30, 2012			Year Ended December 31,
				2011			2010			2009			2008			2007
Earnings:
Net income (loss) before income taxes	$	128,564		$	303,466		$	152,711		($	334,830	)	($	1,516,155	)	$	270,420
Plus fixed charges		31,539			51,322			42,975			46,934			39,643			48,268
Less capitalized interest		(18,124	)		(42,033	)		(30,783	)		(25,573	)		(26,400	)		(16,200	)
Total earnings		141,979			312,755			164,903			(313,469	)		(1,502,912	)		302,488
Fixed charges:
Interest expensed (a)		13,415			9,289			12,192			21,361			13,243			32,068
Interest capitalized		18,124			42,033			30,783			25,573			26,400			16,200
Total fixed charges		31,539			51,322			42,975			46,934			39,643			48,268
Ratio of earnings to fixed charges		4.5	x		6.1	x		3.8	x			(b)			(c)		6.3	x

(a) Includes amortization of bond discount.

(b) Due to losses incurred in this period, earnings were $360,403 short of covering fixed charges.

(c) Due to losses incurred in this period, earnings were $1,542,555 short of covering fixed charges.