Exhibit 12.1
ABRAXAS PETROLEUM CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
Year Ended December 31, | Nine Months Ended September 30, | ||||||
2004 | 2005 | 2006 | 2007 | 2008 | 2009 | ||
Earnings available for fixed charges: | |||||||
Income (loss) before income taxes (1) | $ 2,977 | $ 6,271 | $ 700 | $ 56,985 | $ (52,403) | $ (9,952) | |
Interest expense, net | 17,857 | 13,970 | 16,738 | 7,984 | 10,309 | 8,870 | |
Deferred financing fees | 1,848 | 1,589 | 1,591 | 671 | 1,028 | 799 | |
Earnings available | $ 22,682 | $ 21,830 | $ 19,029 | $ 65,640 | $ (41,066) | $ (283) | |
Fixed charges: | |||||||
Interest expense, net | $ 17,857 | $ 13,970 | $ 16,738 | $ 7,984 | $ 10,309 | $ 8,870 | |
Deferred financing fees | 1,848 | 1,589 | 1,591 | 671 | 1,028 | 799 | |
Fixed charges | $ 19,705 | $ 15,559 | $ 18,329 | $ 8,655 | $ 11,337 | $ 9,669 | |
Ratio of earnings to fixed charges | 1.15x | 1.40x | 1.04x | 7.58x | N/M | N/M |
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(1) | From continuing operations |