MidCon Compression S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES

RATIOS OF EARNINGS TO FIXED CHARGES AND COMBINED FIXED CHARGES

AND PREFERRED DIVIDENDS

	Years Ended December 31,
	2013		2014		2015			2016			2017
EARNINGS:
Income (loss) before income taxes and cumulative effect of accounting change	$	1,442	$	3,200	$	(19,098	)	$	(4,589	)	$	954
Interest expense(a)	207		172		322			275			421
Loss on investment in equity investees in excess of distributed earnings	219		75		96			8			—
Amortization of capitalized interest	440		438		483			729			487
Loan cost amortization	37		32		31			24			25
Less: (Income) loss attributable to noncontrolling interests					68			9			(4		)
Earnings (losses)	$	2,345	$	3,917	$	(18,098	)	$	(3,544	)	$	1,883
FIXED CHARGES:
Interest Expense	$	207	$	172	$	322		$	275		$	421
Capitalized interest	815		604		410			242			193
Loan cost amortization	37		32		31			24			25
Fixed Charges	$	1,059	$	808	$	763		$	541		$	639
RATIO OF EARNINGS TO FIXED CHARGES	2.2		4.8		—			—			2.9
INSUFFICIENT COVERAGE	$	—	$	—	$	18,861		$	4,085		$	—

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(a) Excludes the effect of unrealized gains or losses on interest rate derivatives and includes amortization of bond discount.