Exhibit 12.1
WHITING PETROLEUM CORPORATION AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(dollars in thousands)
Ratio of Earnings to Fixed Charges
(dollars in thousands)
Year Ended December 31, | ||||||||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest Expensed | $ | 35,245 | $ | 11,800 | $ | 7,867 | $ | 10,867 | $ | 10,233 | ||||||||||
Interest Capitalized | — | 200 | — | — | 210 | |||||||||||||||
Amortized Premiums, Discounts and Capitalized Expenses Related to Indebtedness | 6,802 | 4,056 | 1,310 | 71 | — | |||||||||||||||
Estimate of Interest Within Rental Expense | 298 | 182 | 209 | 183 | 165 | |||||||||||||||
Preference Security Dividend Requirements of Subs | — | — | — | — | — | |||||||||||||||
Total Fixed Charges | $ | 42,345 | $ | 16,238 | $ | 9,386 | $ | 11,121 | $ | 10,608 | ||||||||||
Earnings: | ||||||||||||||||||||
Pre-tax Income from Continuing Operations | $ | 196,098 | $ | 114,005 | $ | 36,139 | $ | 11,952 | $ | 54,337 | ||||||||||
Income from Equity Investees | (409 | ) | — | — | — | — | ||||||||||||||
Fixed Charges (above) | 42,345 | 16,238 | 9,386 | 11,121 | 10,608 | |||||||||||||||
Amortization of Capitalized Interest | 41 | 21 | 21 | 21 | — | |||||||||||||||
Distributed Income of Equity Investees | 657 | — | — | — | — | |||||||||||||||
Less: | ||||||||||||||||||||
Interest Capitalized | — | (200 | ) | — | — | (210 | ) | |||||||||||||
Preference Security Dividend Requirements of Subs | — | — | — | — | — | |||||||||||||||
Minority Interest in Pre-tax income of Subs | — | — | — | — | — | |||||||||||||||
Total earnings | $ | 238,732 | $ | 130,064 | $ | 45,546 | $ | 23,094 | $ | 64,735 | ||||||||||
Ratio of Earnings to Fixed Charges (unaudited) | 5.64 | 8.01 | 4.85 | 2.08 | 6.10 |