EX-12.1 4 d456437dex121.htm EXHIBIT 12.1 Exhibit 12.1

Exhibit 12.1

 

GOODRICH PETROLEUM CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES

(In Thousands, Except Ratios)

 

     Year ended December 31,  
     2012     2011     2010     2009     2008  

Earnings:

          

Income (loss) before income taxes

   $ (84,202   $ (31,758   $ (262,205   $ (318,297   $ 176,246   

Plus: fixed charges

     52,403        49,351        37,179        26,148        22,410   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings available for fixed charges

   $ (31,799   $ 17,593      $ (225,026   $ (292,149   $ 198,656   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

          

Interest expense

   $ 52,403      $ 49,351      $ 37,179      $ 26,148      $ 22,410   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 52,403      $ 49,351      $ 37,179      $ 26,148      $ 22,410   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings to Fixed Charges

     (a     (b     (c     (d     8.86   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Earnings for the year ended December 31, 2012 were inadequate to cover fixed charges. The coverage deficiency was $84.2 million.
(b) Earnings for the year ended December 31, 2011 were inadequate to cover fixed charges. The coverage deficiency was $31.8 million.
(c) Earnings for the year ended December 31, 2010 were inadequate to cover fixed charges. The coverage deficiency was $262.2 million.
(d) Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges. The coverage deficiency was $318.3 million.