EX-12.1 3 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12.1

 

GOODRICH PETROLEUM CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands, Except Ratios)

 

     Year ended December 31,  
     2007     2006    2005     2004     2003  

Earnings:

           

Income (loss) from continuing operations before income taxes

   $ (53,468 )   $ 14,419    $ (37,554 )   $ (3,606 )   $ (7,768 )

Plus: fixed charges

     11,870       7,845      2,359       1,110       1,051  
                                       

Earnings available for fixed charges

   $ (41,598 )   $ 22,264    $ (35,195 )   $ (2,496 )   $ (6,717 )
                                       

Fixed Charges:

           

Interest expense

   $ 11,870     $ 7,845    $ 2,359     $ 1,110     $ 1,051  
                                       

Total fixed charges

   $ 11,870     $ 7,845    $ 2,359     $ 1,110     $ 1,051  
                                       

Ratio of Earnings to Fixed Charges

     (a )     2.84      (b )     (c )     (d )
                                       

 

(a) Earnings for the year ended December 31, 2007 were inadequate to cover fixed charges. The coverage deficiency was $53,468 thousand.

 

(b) Earnings for the year ended December 31, 2005 were inadequate to cover fixed charges. The coverage deficiency was $37,554 thousand.

 

(c) Earnings for the year ended December 31, 2004 were inadequate to cover fixed charges. The coverage deficiency was $3,606 thousand.

 

(d) Earnings for the year ended December 31, 2003 were inadequate to cover fixed charges. The coverage deficiency was $7,768 thousand.