EXHIBIT 12.1
Oasis Petroleum Inc.
Computation of Ratio of Earnings to Fixed Charges
| Year Ended December 31, | Three Months Ended March 31, |
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| 2009(1) | 2010 | 2011 | 2012 | 2013 | 2014 | |||||||||||||||||||
| Earnings |
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| 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 | ) | ||||||||||||||
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| Total earnings (loss) |
(14,187 | ) | 14,789 | 156,175 | 317,179 | 471,716 | 312,044 | |||||||||||||||||
| Fixed charges |
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| 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 | ||||||||||||||||||
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| 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. |