Copano Field Services/South Texas POSASR Automatic shelf registration (post-effective amendment)

Exhibit 12.1

Copano Energy, L.L.C. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(In Thousands)

	Year ended December 31,
	2010			2009			2008			2007			2006
Earnings:
Net income (loss)	$	(8,681	)	$	23,158		$	58,213		$	63,175		$	65,114
Income taxes		931			794			1,249			1,714			—
Equity in earnings from unconsolidated affiliates		20,480			(4,600	)		(6,889	)		(2,850	)		(1,297	)
Pre-tax income from continuing operations		12,730			19,352			52,573			62,039			63,817
Fixed charges		57,423			60,069			69,339			30,753			34,011
Amortization of capitalized interest		259			427			259			85			38
Distributions from unconsolidated affiliates		25,955			29,684			25,830			4,382			—
Capitalized interest		(3,355	)		(3,362	)		(3,471	)		(932	)		(693	)
Earnings for ratio calculation	$	93,012		$	106,170		$	144,530		$	96,327		$	97,173
Fixed charges:
Interest and other financing costs	$	53,605		$	55,836		$	64,978		$	29,351		$	32,904
Capitalized interest		3,355			3,362			3,471			932			693
Interest portion of operating leases		463			871			890			470			414
Total fixed charges		57,423		$	60,069		$	69,339		$	30,753		$	34,011
Ratio of earnings to fixed charges		1.6x			1.8x			2.1x			3.1x			2.9x