Exhibit 12.1
ENERGY PARTNERS, LTD.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio of earnings to fixed charges data)
| Predecessor Company | Successor Company | |||||||||||||||||||||||||||||||||
| Year Ended December 31, | Period from January 1, 2009 through September 30, 2009 | Period from October 1, 2009 through December 31, 2009 | Year Ended December 31, 2010 | Three Months Ended March 31, | ||||||||||||||||||||||||||||||
| 2006 | 2007 | 2008 | 2010 | 2011 | ||||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | (78,485 | ) | $ | (124,562 | ) | $ | (69,227 | ) | $ | (36,114 | ) | $ | (32,412 | ) | $ | (12,877 | ) | $ | 7,994 | $ | (23,288 | ) | |||||||||||
Add: | ||||||||||||||||||||||||||||||||||
Fixed charges | 27,450 | 48,583 | 48,153 | 18,383 | 4,532 | 10,257 | 4,321 | 2,607 | ||||||||||||||||||||||||||
Amortization of capitalized interest | 3 | 10 | 5 | 1 | — | — | — | — | ||||||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||||||||
Interest capitalized | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Earnings | $ | (51,032 | ) | $ | (75,969 | ) | $ | (21,069 | ) | $ | (17,730 | ) | $ | (27,880 | ) | $ | (2,620 | ) | $ | 12,315 | $ | (20,681 | ) | |||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||||
Interest Expense (including amortization of debt discount and deferred financing costs) | $ | 24,570 | $ | 46,213 | $ | 46,533 | $ | 17,813 | $ | 4,322 | $ | 9,807 | $ | 4,202 | $ | 2,470 | ||||||||||||||||||
Interest capitalized | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
Estimated interest expense within rent expense | 2,880 | 2,370 | 1,620 | 570 | 210 | 450 | 119 | 137 | ||||||||||||||||||||||||||
Total Fixed Charges | $ | 27,450 | $ | 48,583 | $ | 48,153 | $ | 18,383 | $ | 4,532 | $ | 10,257 | $ | 4,321 | $ | 2,607 | ||||||||||||||||||
Ratio of earnings to fixed charges | (1.86 | ) | (1.56 | ) | (0.44 | ) | (0.96 | ) | (6.15 | ) | (0.26 | ) | 2.85 | (7.93 | ) | |||||||||||||||||||
Amount of deficiency in earnings to cover fixed charges for 1:1 ratio | $ | 78,482 | $ | 124,552 | $ | 69,222 | $ | 36,113 | $ | 32,412 | $ | 12,877 | $ | — | $ | 23,288 | ||||||||||||||||||
