Exhibit 12.1
ENCORE ACQUISITION COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||||||
2005 | 2004 | 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||||||||
Pretax earnings | $ | 69,060 | $ | 54,393 | $ | 122,639 | $ | 98,880 | $ | 60,301 | $ | 33,396 | $ | 12,684 | ||||||||||||||
Adjustments: | ||||||||||||||||||||||||||||
Add fixed charges: | ||||||||||||||||||||||||||||
Interest expense | 14,407 | 10,214 | 23,459 | 16,151 | 12,306 | 6,041 | 10,490 | |||||||||||||||||||||
Interest capitalized | — | — | — | — | — | — | — | |||||||||||||||||||||
Rental expense attributable to interest | 234 | 182 | 344 | 378 | 314 | 236 | 118 | |||||||||||||||||||||
Total fixed charges | 14,641 | 10,396 | 23,803 | 16,529 | 12,620 | 6,277 | 10,608 | |||||||||||||||||||||
Deduct: | ||||||||||||||||||||||||||||
Interest capitalized | — | — | — | — | — | — | — | |||||||||||||||||||||
Total deductions | — | — | — | — | — | — | — | |||||||||||||||||||||
Adjusted earnings | $ | 83,701 | $ | 64,789 | $ | 146,442 | $ | 115,409 | $ | 72,921 | $ | 39,673 | $ | 23,292 | ||||||||||||||
Ratio of earnings to fixed charges | 5.7 | 6.2 | 6.2 | 7.0 | 5.8 | 6.3 | 2.2 |