BURLINGTON RESOURCES INC. RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 (UNAUDITED) Three Months Ended March 31, 1995 1994 (In Thousands, Except Ratio Amounts) Earnings: Income (Loss) Before Income Taxes....................$ (24,121) $ 48,843 Add: Interest and fixed charges.......................... 26,365 18,056 Portion of rent under long-term operating leases representative of an interest factor....... 1,127 1,123 ---------- ----------- Total Earnings Available for Fixed Charges..........$ 3,371 $ 68,022 ========== =========== Fixed Charges: Interest and fixed charges..........................$ 26,365 $ 18,056 Portion of rent under long-term operating leases representative of an interest factor....... 1,127 1,123 Capitalized interest................................ 480 345 ---------- ---------- Total Fixed Charges.................................$ 27,972 $ 19,524 ========== =========== Ratio of Earnings to Fixed Charges.................... 0.12 x 3.48 x ========== =========== - 11 -