Exhibit 12.1
GOODRICH PETROLEUM CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
RATIO OF EARNINGS TO FIXED CHARGES
Six Months | Six Months | |||||||||||||||||||||||||||
ended | ended | Year ended December 31, | ||||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||||
2007 | 2006 | 2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||||||||
(In thousands, except ratios) | ||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (23,755 | ) | $ | 17,555 | $ | 14,419 | $ | (37,554 | ) | $ | (3,606 | ) | $ | (7,768 | ) | $ | (6,771 | ) | |||||||||
Plus: fixed charges | 4,846 | 2,197 | 7,845 | 2,359 | 1,110 | 1,051 | 985 | |||||||||||||||||||||
Earnings available for fixed charges | $ | (18,909 | ) | $ | 19,752 | $ | 22,264 | $ | (35,195 | ) | $ | (2,496 | ) | $ | (6,717 | ) | $ | (5,786 | ) | |||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 4,846 | $ | 2,197 | $ | 7,845 | $ | 2,359 | $ | 1,110 | $ | 1,051 | $ | 985 | ||||||||||||||
Total fixed charges | $ | 4,846 | $ | 2,197 | $ | 7,845 | $ | 2,359 | $ | 1,110 | $ | 1,051 | $ | 985 | ||||||||||||||
Ratio of Earnings to Fixed Charges | (a | ) | 8.99 | 2.84 | (b | ) | (c | ) | (d | ) | (e | ) | ||||||||||||||||
(a) | Earnings for the six months ended June 30, 2007 were inadequate to cover fixed charges. The coverage deficiency was $23,755 thousand. | |
(b) | Earnings for the year ended December 31, 2005 were inadequate to cover fixed charges. The coverage deficiencywas $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. | |
(e) | Earnings for the year ended December 31, 2002 were inadequate to cover fixed charges. The coverage deficiency was $6,771 thousand. |