EX-12.1 3 d750143dex121.htm EX-12.1

EX-12.1

EXHIBIT 12.1

Oasis Petroleum Inc.

Computation of Ratio of Earnings to Fixed Charges

		Year Ended December 31,																				Three Months Ended March 31,
		2009(1)				2010				2011				2012				2013				2014
Earnings
Income (loss) before income taxes			(15,209	)			13,267				126,179				245,874				363,017				271,472
Add: Fixed charges			1,022				1,522				32,950				73,932				112,282				41,846
Add: Amortization of capitalized interest			—				—				119				671				1,009				284
Less: Capitalized interest			—				—				(3,073	)			(3,298	)			(4,592	)			(1,558	)
Total earnings (loss)			(14,187	)			14,789				156,175				317,179				471,716				312,044
Fixed charges
Interest expense			912				1,357				29,618				70,143				107,165				40,158
Capitalized interest			—				—				3,073				3,298				4,592				1,558
Rental expense attributable to interest			110				165				259				491				525				130
Total fixed charges			1,022				1,522				32,950				73,932				112,282				41,846
Ratio of earnings (loss) to fixed charges			0.00				9.72				4.74				4.29				4.20				7.46

(1) Due to the Company’s net pre-tax loss for the year ended December 31, 2009, the ratio coverage was less than 1:1. The Company would have needed additional earnings of $15.2 million for the year ended December 31, 2009 to achieve a coverage of 1:1.