Northern Oil and Gas (NOG) 10-K 2013 FY Annual report

Exhibit 12

Calculation of Ratio of Earnings to Fixed Charges

Northern Oil and Gas, Inc.

	Year Ended December 31,
	2009			2010			2011			2012			2013
Earnings Before Income Taxes	$	4,264,952		$	11,336,300		$	67,446,792		$	115,286,396		$	84,834,650
Add:
Fixed Charges		1,169,435			655,116			1,006,306			19,819,598			38,688,300
Subtract:
Capitalized Interest		624,717			59,711			405,984			5,929,473			5,976,981
Total Earnings Before Fixed Charges		4,809,670			11,931,705			68,047,114			129,176,521			117,545,969
Fixed Charges
Interest Expense		535,094			583,376			585,982			13,874,909			32,709,056
Capitalized Interest		624,717			59,711			405,984			5,929,473			5,976,981
Estimated Interest Component of Rent		9,624			12,029			14,340			15,216			2,263
Total Fixed Charges		1,169,435			655,116			1,006,306			19,819,598			38,688,300
Ratio of Earnings to Fixed Charges(1)		4.1	x		18.2	x		67.6	x		6.5	x		3.0	x

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(1)   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.