EX-12.1 3 d253600dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

Oasis Petroleum Inc.

Computation of Ratio of Earnings to Fixed Charges

 

    

Period from
February 26,
2007
(Inception)
through

December 31,

     Year Ended December 31,  
     2007     2008     2009     2010      2011  
     (In thousands, except ratios)  

Earnings

            

Income (loss) before income taxes

      (13,550 )      (34,391 )      (15,209 )      13,267         126,180   

Fixed charges

      1,803        2,497        1,022        1,522         29,877   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Total earnings (loss)

      (11,747 )      (31,894 )      (14,187 )      14,789         156,057   

Fixed charges

            

Interest expense

      1,776        2,404        912        1,357         29,618   

Rental expense attributable to interest

      27        93        110        165         259   
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Total fixed charges

      1,803        2,497        1,022        1,522         29,877   

Ratio of earnings (loss) to fixed charges (1) (2)

      —          —          —          9.72         5.22   

 

(1)

Due to the Company’s net pre-tax loss for the period from February 26, 2007 (Inception) through December 31, 2007 and the years ended December 31, 2008 and December 31, 2009, the ratio coverage was less than 1:1. The Company would have needed additional earnings of $13.6 million, $34.4 million and $15.2 million for the period from February 26, 2007 (Inception) through December 31, 2007 and for the years ended December 31, 2008 and December 31, 2009, respectively, to achieve a coverage of 1:1.

(2)

The Company had no preferred stock outstanding for any period presented, and accordingly, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.