Petrohawk Energy Inactive 10-Q2011 Q2 Quarterly report

Filed: 3 Aug 11, 12:00am

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New words: abetted, abide, absence, advisory, aided, al, andBinkowski, Antitrust, atmosphere, attract, attracting, attractive, Australia, BHP, Billiton, BK, Black, breached, brought, burning, byproduct, cap, certification, challenge, challenging, Chancery, clearance, climate, Code, Committee, consulting, contemporaneously, convey, corrosion, Court, deal, deter, distracted, EagleHawk, Earth, emission, employment, encourage, Endangerment, European, exacerbated, excise, failing, fiduciary, Foreign, found, GAAP, Gincherman, global, greenhouse, Guarantor, Hawkville, IASB, inducement, Investor, IRA, Kyoto, maximize, member, merit, methane, Moody, motivate, motivating, multi, Murphy, newly, par, Parent, pendency, Pension, people, perception, personnel, petroleum, pollution, Poor, preclusive, prevent, prohibiting, prospectively, Protocol, purported, pursue, pursuing, Realty, recommendation, refined, refractured, relief, relieved, rescission, retention, salary, satisfaction, seek, seller, shop, source, standard, stockholder, sulfur, superseded, survive, surviving, Tennessee, theBinkowski, theGrossman, toxic, transmission, twoIron, uncertainty, Union, validly, Valley, Vicinity, Victoria, vigorously, vote, waiting, waived, waiver, warming, welfare, Wilson, withdraw, withdrawn, wording

Removed: agency, alleging, Caddo, cease, clearing, commit, concentrated, conducted, Desist, determining, discretion, divestiture, dredged, factored, fill, furniture, important, land, limitation, matter, order, penalty, plead, premier, Red, resolved, River, unauthorized

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Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends
(In thousands, except ratios)

				Six Months Ended June 30,						Years Ended December 31,

				2011			2010			2010			2009			2008			2007		2006
Earnings:
	Income (loss) from continuing operations before income taxes			$	171,293		$	278,279		$	390,246		$	(1,775,335	)	$	(531,042	)	$	86,049	$	189,098
		Adjustments:
			Equity investment income		(30,910	)		(2,047	)		(17,154	)		—			—			—		—
			Distributions from equity affiliate		36,160			4,236			21,422			—			—			—		—

	Income (loss) from continuing operations before income taxes, as adjusted			$	176,543		$	280,468		$	394,514		$	(1,775,335	)	$	(531,042	)	$	86,049	$	189,098
	Fixed charges				137,549			127,953			302,136			237,812			156,713			133,474		89,086

			Total earnings	$	314,092		$	408,421		$	696,650		$	(1,537,523	)	$	(374,329	)	$	219,523	$	278,184

Fixed charges:
	Interest expense and amortization of finance costs			$	136,340		$	126,986		$	300,021		$	236,119		$	155,361		$	132,264	$	88,414
	Rental expense representative of interest factor				1,209			967			2,115			1,693			1,352			1,210		672

			Total fixed charges	$	137,549		$	127,953		$	302,136		$	237,812		$	156,713		$	133,474	$	89,086

Ratio of earnings to fixed charges					2.3			3.2			2.3			—	(1)		—	(2)		1.6		3.1

Total fixed charges				$	137,549		$	127,953		$	302,136		$	237,812		$	156,713		$	133,474	$	89,086
Pre-tax preferred dividend requirements					—			—			—			—			—			—		352

Total fixed charges plus preference dividends				$	137,549		$	127,953		$	302,136		$	237,812		$	156,713		$	133,474	$	89,438

Ratio of earnings to combined fixed charges and preference dividends					2.3			3.2			2.3			—	(1)		—	(2)		1.6		3.1

(1): Due to the Company's loss in 2009, the ratio coverage was less than 1:1. The Company must generate additional earnings of $1.8 billion to achieve a coverage ratio of 1:1.
(2): Due to the Company's loss in 2008, the ratio coverage was less than 1:1. The Company must generate additional earnings of $531.0 million to achieve a coverage ratio of 1:1.

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Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends (In thousands, except ratios)

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