BKEP Operating, L.L.C. S-3/A Shelf registration (amended)

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Combined Fixed Charges and Preferred Unit Distributions

($ in thousands except ratios)

	Year Ended December 31,															Six Months Ended June 30,
	2009			2010			2011			2012			2013			2014
Pre-tax income (loss) from continuing operations:	$	(17,478	)	$	(24,851	)	$	32,501		$	29,932		$	32,011		$	7,746
Fixed charges:
Interest expense and amortization of debt issuance costs		51,399			48,638			32,898			11,705			11,615			6,686
Capitalized interest		—			3,802			21			150			1,047			160
Estimated interest associated with rental expense (1)		1,526			1,595			1,937			2,157			2,512			1,267
Total fixed charges		52,925			54,035			34,856			14,013			15,175			8,113
Preferred unit distributions		—			2,243			14,249			21,875			21,874			10,937
Total combined fixed charges and preferred unit distributions		52,925			56,278			49,106			35,887			37,049			19,050
Depreciation of capitalized interest		96			156			386			389			403			218
Capitalized interest		—			(3,802	)		(21	)		(150	)		(1,047	)		(160	)
Earnings available for fixed charges	$	35,543		$	25,538		$	67,723		$	44,183		$	46,541		$	15,917
Ratio of earnings to fixed charges		—			—			1.94			3.15			3.07			1.96
Deficiency	$	17,382		$	28,497			—			—			—			—	��
Ratio of earnings to combined fixed charges and preferred unit distributions		—			—			1.38			1.23			1.26			—
Deficiency	$	17,382		$	30,740			—			—			—		$	3,133

(1) Calculated as one third of rent expense, which is a reasonable approximation of the interest factor.