EX-12.1 2 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,  
     2010     2009     2008      2007     2006  

Earnings:

           

Income (loss) before income taxes

   $ (262,205   $ (318,297   $ 176,748       $ (59,476   $ 13,921   

Plus: fixed charges

     37,179        26,148        22,410         17,878        8,343   
                                         

Earnings available for fixed charges

   $ (225,026   $ (292,149   $ 199,158       $ (41,598   $ 22,264   
                                         

Fixed Charges:

           

Interest expense

   $ 37,179      $ 26,148      $ 22,410       $ 17,878      $ 8,343   
                                         

Total fixed charges

   $ 37,179      $ 26,148      $ 22,410       $ 17,878      $ 8,343   
                                         

Ratio of Earnings to Fixed Charges

     (a     (b     8.89         (c     2.67   
                                         

 

(a) Earnings for the year ended December 31, 2010 were inadequate to cover fixed charges. The coverage deficiency was $262.2 million.
(b) Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $318.3 million.
(c) Earnings for the year ended December 31, 2007 were inadequate to cover fixed charges. The coverage deficiency was $59.5 million.