Diamondback Energy (FANG) S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

DIAMONDBACK ENERGY, INC.

COMPUTATION OF RATIO OF EARNINGS (DEFICIT) TO FIXED CHARGES

	Year Ended December 31,
	2018		2017		2016(1)			2015(1)			2014
	(in thousands)
EARNINGS
Income (loss) from continuing operations	$	1,010,788	$	605,020	$	(68,617	)	$	(740,269	)	$	212,670
Interest expense, net	87,276		40,554		40,684			41,510			34,514
Income (loss) before fixed charges	$	1,098,064	$	645,574	$	(27,933	)	$	(698,759	)	$	247,184
FIXED CHARGES
Interest expense, net	$	87,276	$	40,554	$	40,684		$	41,510		$	34,514
Total fixed charges	$	87,276	$	40,554	$	40,684		$	41,510		$	34,514
Earnings/fixed charge coverage ratio	12.6		15.9		(0.7)			(16.8)			7.2

(1) Earnings for the years ended December 31, 2016 and December 31, 2015 were insufficient to cover fixed charges by $68.6 million and $740.3 million, respectively. Ratios for the years ended December 31, 2016 and December 31, 2015 include the effects of impairments on oil and gas properties of $245.5 million and $814.8 million, respectively. Excluding the impact of the impairments of oil and gas properties, the earnings/fixed charge coverage ratio for the years ended December 31, 2016 and December 31, 2015 would have been 5.3 and 2.8, respectively.