Exhibit 12.1
CARRIZO OIL AND GAS
RATIO OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
CARRIZO OIL AND GAS
RATIO OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
RESTATED | ||||||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||||||
(a) Income before taxes | 28,481 | 18,134 | 18,123 | 13,103 | 7,599 | |||||||||||||||||||
(b) Interest | 19,071 | 11,044 | 2,553 | 617 | 846 | |||||||||||||||||||
(c) Interest expense — related parties | — | — | 1,082 | 2,379 | 2,255 | |||||||||||||||||||
(d) Fixed charges (total interest expense including amount capitalized) | (b) + | (c) | 19,071 | 11,044 | 3,635 | 2,996 | 3,101 | |||||||||||||||||
(e) Capitalized Interested included in (d) | 9,975 | 5,845 | 2,938 | 2,919 | 3,100 | |||||||||||||||||||
(f) Fixed Charges excluding Cap Int | (d) - | (e) | 9,096 | 5,199 | 697 | 77 | 1 | |||||||||||||||||
(g) Earnings | (a) + | (f) | 37,577 | 23,333 | 18,820 | 13,180 | 7,600 | |||||||||||||||||
Ratio of Earnings to Fixed Charges | (g)/ | (d) | 1.97 | x | 2.11 | x | 5.18 | x | 4.40 | x | 2.45 | x | ||||||||||||
RESTATED | ||||||||||||||||||||||||
2006 | 2005 | 2004 | 2003 | 2002 | ||||||||||||||||||||
(a) Income before taxes | 28,481 | 18,134 | 18,123 | 13,103 | 7,599 | |||||||||||||||||||
(b) Interest | 19,071 | 11,044 | 2,553 | 617 | 846 | |||||||||||||||||||
(c) Interest expense — related parties | — | — | 1,082 | 2,379 | 2,255 | |||||||||||||||||||
(d) Preferred stock dividends | — | — | 350 | 741 | 588 | |||||||||||||||||||
(e) Fixed charges and preferred stock dividends (total interest expense including amount capitalized) | (b)+(c)+ | (d) | 19,071 | 11,044 | 3,985 | 3,737 | 3,689 | |||||||||||||||||
(f) Capitalized Interested included in (e) | 9,975 | 5,845 | 2,938 | 2,919 | 3,100 | |||||||||||||||||||
(g) Fixed Charges and preferred stock dividends, excluding Cap Int | (e) - | (f) | 9,096 | 5,199 | 1,047 | 818 | 589 | |||||||||||||||||
(h) Earnings | (a) + | (g) | 37,577 | 23,333 | 19,170 | 13,921 | 8,188 | |||||||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | (h)/ | (e) | 1.97 | x | 2.11 | x | 4.81 | x | 3.73 | x | 2.22 | x | ||||||||||||