Atlas Pipeline Finance S-4 Registration of securities issued in business combination transactions

EXHIBIT 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges (UNAUDITED)

Atlas Pipeline Partners, L.P.

(amounts in thousands except ratios)

	Nine Months Ended September 30,			Years Ended December 31,
	2012			2011			2010			2009			2008			2007
Earnings:
Income (loss) from continuing operations before income tax expense(1)(2)(3)(4)(5)(6)	$	74,966		$	295,478		$	(40,717	)	$	(21,434	)	$	(510,896	)	$	(116,728	)
Fixed charges		35,344			38,566			90,152			106,362			98,598			63,241
Adjustment to net distributed income of equity investee		1,165			(577	)		6,146			267			—			—
Interest capitalized		(6,360	)		(5,146	)		(757	)		(2,783	)		(8,872	)		(3,259	)
Amortization of previously capitalized interest		387			333			255			581			309			123
Non-controlling interest		(4,108	)		(6,200	)		(4,738	)		(3,176	)		22,781			3,940
Total	$	101,394		$	322,454		$	50,341		$	79,817		$	(398,080	)	$	(52,683	)
Fixed Charges:
Interest cost and debt expense	$	27,669		$	31,603		$	87,273		$	101,309		$	87,422		$	59,017
Interest capitalized		6,360			5,146			757			2,783			8,872			3,259
Interest allocable to rental expense(7)		1,315			1,817			2,122			2,270			2,304			965
Total Fixed Charges		35,344			38,566			90,152			106,362			98,598			63,241
Preferred dividends		—			389			780			900			2,274			6,250
Total Fixed Charges and Preferred Dividends	$	35,344		$	38,955		$	90,932		$	107,262		$	100,872		$	69,491
Ratio of Earnings to Fixed Charges		2.9	x		8.4	x		—	(8)		—	(9)		—	(10)		—	(11)
Ratio of Earnings to Fixed Charges and Preferred Dividends		N/A			8.3	x		—	(12)		—	(13)		—	(14)		—	(15)

(1) Includes a $31.6 million non-cash gain recognized on derivates for the nine months ended September 30, 2012.

(2) Includes a gain on asset sales of $256.3 million and a non-cash loss recognized on derivatives of $4.5 million for the year ended December 31, 2011.

(3) Includes a non-cash gain recognized on derivatives of $10.2 million and a non-recurring cash derivative unwind expense of $17.9 million for the year ended December 31, 2010.

(4) Includes a gain on asset sales of $111.4 million, a non-cash loss recognized on derivatives of $51.3 million, a $10.3 million non-cash impairment charge to goodwill and other assets and a non-recurring cash derivative unwind expense of $5.0 million for the year ended December 31, 2009.

(5) Includes a $676.9 million non-cash impairment charge to goodwill and other assets; a $115.8 million non-cash gain recognized on derivatives; a $19.9 million gain from the Partnership’s repurchase of approximately $60.0 million of its senior unsecured notes for approximately $40.1 million; and a net $197.6 million cash derivative expense related to the early termination of certain derivative contracts for the year ended December 31, 2008.

(6) Includes a $169.4 million non-cash loss recognized on derivatives for the year ended December 31, 2007.

(7) Represents one-third of the total operating lease rental expense, which is that portion deemed to be interest.

(8) The Partnership earnings were insufficient to cover its fixed charges by $39.8 million for this period.

(9) The Partnership earnings were insufficient to cover its fixed charges by $26.5 million for this period.

(10) The Partnership earnings were insufficient to cover its fixed charges by $496.7 million for this period.

(11) The Partnership earnings were insufficient to cover its fixed charges by $115.9 million for this period.

(12) The Partnership earnings were insufficient to cover its fixed charges and preferred dividends by $40.6 million for this period.

(13) The Partnership earnings were insufficient to cover its fixed charges and preferred dividends by $27.4 million for this period.

(14) The Partnership earnings were insufficient to cover its fixed charges and preferred dividends by $499.0 million for this period.

(15) The Partnership earnings were insufficient to cover its fixed charges and preferred dividends by $122.2 million for this period.