Exhibit 12.1
WHITING PETROLEUM CORPORATION AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(dollars in thousands)
Three Months Ended March | Year Ended December 31, | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
31, 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest Expensed | $ | 15,125 | $ | 35,245 | $ | 11,800 | $ | 7,867 | $ | 10,867 | $ | 10,233 | ||||||||
Interest Capitalized | -- | -- | 200 | -- | -- | 210 | ||||||||||||||
Amortized Premiums, Discounts and Capitalized | ||||||||||||||||||||
Expenses Related to Indebtedness | 1,848 | 6,802 | 4,056 | 1,310 | 71 | -- | ||||||||||||||
Estimate of Interest Within Rental Expense | 102 | 298 | 182 | 209 | 183 | 165 | ||||||||||||||
Total Fixed Charges | $ | 17,075 | $ | 42,345 | $ | 16,238 | $ | 9,386 | $ | 11,121 | $ | 10,608 | ||||||||
Earnings: | ||||||||||||||||||||
Income Before Income Taxes | $ | 53,297 | $ | 196,098 | $ | 114,005 | $ | 36,139 | $ | 11,952 | $ | 54,337 | ||||||||
Loss (Income) from Equity Investees | 43 | (409 | ) | -- | -- | -- | -- | |||||||||||||
Fixed Charges (above) | 17,075 | 42,345 | 16,238 | 9,386 | 11,121 | 10,608 | ||||||||||||||
Amortization of Capitalized Interest | 10 | 41 | 21 | 21 | 21 | -- | ||||||||||||||
Distributed Income of Equity Investees | 146 | 657 | -- | -- | -- | -- | ||||||||||||||
Less: | ||||||||||||||||||||
Capitalized Interest | -- | -- | (200 | ) | -- | -- | (210 | ) | ||||||||||||
Total earnings | $ | 70,571 | $ | 238,732 | $ | 130,064 | $ | 45,546 | $ | 23,094 | $ | 64,735 | ||||||||
Ratio of Earnings to Fixed Charges (unaudited) | 4.13 | 5.64 | 8.01 | 4.85 | 2.08 | 6.10 |