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KODIAK OIL & GAS CORP.
RATIO OF EARNINGS TO FIXED CHARGES
| | For the years ended December 31, | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| For the six months ended June 30, 2012 | ||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||
| (in thousands) | (in thousands) | |||||||||||||||||
Pretax income (loss) from continuing operations | $ | 120,736 | $ | 3,875 | $ | (2,402 | ) | $ | (2,563 | ) | $ | (56,498 | ) | $ | (38,186 | ) | |||
Add: Fixed charges | 32,755 | 27,475 | 565 | 36 | 22 | 13 | |||||||||||||
Add: Amortization of capitalized interest | 820 | 241 | — | — | — | — | |||||||||||||
Less: Capitalized interest | (24,500 | ) | (8,374 | ) | (470 | ) | — | — | — | ||||||||||
Earnings before fixed charges | $ | 129,810 | $ | 23,217 | $ | (2,307 | ) | $ | (2,527 | ) | $ | (56,476 | ) | $ | (38,173 | ) | |||
Fixed charges | |||||||||||||||||||
Estimated interest component of rent | 60 | 111 | 12 | 11 | 15 | 13 | |||||||||||||
Capitalized interest | 24,500 | 8,374 | 470 | — | — | — | |||||||||||||
Interest expense | 8,195 | 18,990 | 83 | 25 | 7 | — | |||||||||||||
Total Fixed charges | $ | 32,755 | $ | 27,475 | $ | 565 | $ | 36 | $ | 22 | $ | 13 | |||||||
Ratio of Earnings to Fixed charges | 3.96 | — | — | — | — | — | |||||||||||||
Insufficient coverage | $ | — | $ | (4,258 | ) | $ | (2,872 | ) | $ | (2,563 | ) | $ | (56,498 | ) | $ | (38,186 | ) |
KODIAK OIL & GAS CORP. RATIO OF EARNINGS TO FIXED CHARGES