Exhibit 12.1

Stone Energy Corporation

Computation of Ratio of Earnings to Fixed Charges

(Amounts in thousands of dollars)

	Year Ended December 31,															Six Months Ended June 30,
	2010			2011			2012			2013			2014			2015
Earnings:
Net income (loss) before income taxes	$	152,711		$	303,466		$	234,023		$	186,359		($	291,561	)	($	745,248	)
Plus fixed charges		42,975			51,322			68,031			79,697			84,577			42,390
Less capitalized interest		(30,783	)		(42,033	)		(37,656	)		(46,860	)		(45,722	)		(21,553	)
Total earnings		164,903			312,755			264,398			219,196			(252,706	)		(724,411	)
Fixed charges:
Interest expensed (a)		12,192			9,289			30,375			32,837			38,855			20,837
Interest capitalized		30,783			42,033			37,656			46,860			45,722			21,553
Total fixed charges		42,975			51,322			68,031			79,697			84,577			42,390
Ratio of earnings to fixed charges		3.8x			6.1x			3.9x			2.8x			(b	)		(c	)

(a) Includes amortization of discounts, premiums and issue costs related to indebtedness.

(b) Due to losses incurred in this period, earnings were $337,283 short of covering fixed charges.

(c) Due to losses incurred in this period, earnings were $766,801 short of covering fixed charges.