Northern Oil and Gas (NOG) 8-K Northern Oil and Gas, Inc. Announces Pricing of Senior Notes Offering

Exhibit 12

Calculation of Ratio of Earnings to Fixed Charges

Northern Oil and Gas, Inc.

	Year Ended December 31,												Three Months Ended March 31,
	2008		2009		2010		2011		2012		2012 (pro forma)(1)		2013		2013 (pro forma)(1)
Earnings Before Income Taxes	$	1,594,340		4,264,952		11,336,300	$	67,446,792	$	115,286,396	$	107,361,110	$	14,556,133	$	12,778,041
Add:
Fixed Charges		32,106		1,169,435		655,116		1,006,306		19,819,598		30,306,884		7,493,968		9,857,061
Subtract:
Capitalized Interest		—		624,717		59,711		405,984		5,929,473		8,491,473		1,385,158		1,970,158
Total Earnings Before Fixed Charges		1,626,446		4,809,670		11,931,705		68,047,114		129,176,521		129,176,521		20,664,943		20,664,943
Fixed Charges
Interest Expense		28,976		535,094		583,376		585,982		13,874,909		21,800,195		6,108,000		7,886,092
Capitalized Interest		—		624,717		59,711		405,984		5,929,473		8,491,473		1,385,158		1,970,158
Estimated Interest Component of Rent		3,130		9,624		12,029		14,340		15,216		15,216		810		810
Total Fixed Charges		32,106		1,169,435		655,116		1,006,306		19,819,598		30,306,884		7,493,968		9,857,060
Ratio of Earnings to Fixed Charges(2)		50.7x		4.1x		18.2x		67.6x		6.5x		4.3x		2.8x		2.1x

(1) Sets forth the Company’s ratio of earnings to fixed charges on a pro forma basis to reflect the issuance of the new notes and the application of the net proceeds therefrom as described in “Use of Proceeds” in the Prospectus Supplement dated May 8, 2013 as of the beginning of the period indicated.

(2) 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.