Independence Contract Drilling (ICDIQ) S-3 Shelf registration

Exhibit 12.1

Independence Contract Drilling, Inc.

Statement of Computation of Ratio of Earnings to Fixed Charges

(in thousands)

	Successor												Predecessor
	Six Months Ended June 30, 2015			Fiscal Year Ended December 31,									January 1, 2012 through March 1, 2012
				2014			2013			2012
Earnings, as defined:
Income (loss) before income taxes	$	663		$	(31,526	)	$	(3,879	)	$	(10,349	)	$	(6,828	)
Add: Fixed charges		2,324			3,688			1,360			530			48
Add: Amortization of capitalized interest		38			40			2			—			—
Less: Capitalized interest		(632	)		(1,021	)		(382	)		—			—
Total earnings, as defined	$	2,393		$	(28,819	)	$	(2,899	)	$	(9,819	)	$	(6,780	)
Fixed charges, as defined:
Interest expense, net of capitalized interest (1)	$	1,029		$	1,648		$	257		$	10		$	15
Capitalized interest		632			1,021			382			—			—
Portion of rental expense which represents interest factor		663			1,019			721			520			33
Total fixed charges, as defined	$	2,324		$	3,688		$	1,360		$	530		$	48
Ratio of earnings to fixed charges		1.03x			(2	)		(3	)		(4	)		(5	)

(1) Interest expense includes amortized capitalized expenses related to indebtedness.

(2) Earnings for the year ended December 31, 2014 were inadequate to cover fixed charges by $32,507.

(3) Earnings for the year ended December 31, 2013 were inadequate to cover fixed charges by $4,259.

(4) Earnings for the year ended December 31, 2012 were inadequate to cover fixed charges by $10,349.

(5) Earnings for the predecessor period January 1, 2012 through March 1, 2012 were inadequate to cover fixed charges by $6,828.