Exhibit 12.1
CARRIZO OIL AND GAS, INC.
STATEMENT OF COMPUTATION OF PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES AND PRO FORMA RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Pro Forma Year Ended December 31, 2011 | Pro Forma Six Months Ended June 30, 2012 | |||||||
(In thousands, except ratios) | ||||||||
Earnings | ||||||||
Income (loss) before income taxes and equity in income of investees | $ | 54,849 | $ | 56,755 | ||||
Interest expense | 68,967 | 43,087 | ||||||
Less interest capitalized | (30,523 | ) | (17,017 | ) | ||||
Interest portion of rental expense | 1,475 | 862 | ||||||
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Total Earnings | $ | 94,768 | $ | 83,687 | ||||
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Fixed Charges: | ||||||||
Interest expense | $ | 68,967 | $ | 43,087 | ||||
Interest portion of rental expense | 1,475 | 862 | ||||||
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Total Fixed Charges | $ | 70,442 | $ | 43,949 | ||||
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Pro Forma Ratio of Earnings to Fixed Charges | 1.35 | 1.90 | ||||||
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Pro Forma Year Ended December 31, 2011 | Pro Forma Six Months Ended June 30, 2012 | |||||||
(In thousands, except ratios) | ||||||||
Earnings | ||||||||
Income (loss) before income taxes and equity in income of investees | $ | 54,849 | $ | 56,755 | ||||
Interest expense | 68,967 | 43,087 | ||||||
Less interest capitalized | (30,523 | ) | (17,017 | ) | ||||
Interest portion of rental expense | 1,475 | 862 | ||||||
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Total Earnings | $ | 94,768 | $ | 83,687 | ||||
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Combined Fixed Charges and Preferred Stock Dividends: | ||||||||
Interest expense | $ | 68,967 | $ | 43,087 | ||||
Interest portion of rental expense | 1,475 | 862 | ||||||
Preferred stock dividend requirements of Carrizo Oil & Gas, Inc. | — | — | ||||||
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Total Combined Fixed Charges and Preferred Stock Dividends | $ | 70,442 | $ | 43,949 | ||||
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Pro Forma Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | 1.35 | 1.90 | ||||||
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