BURLINGTON RESOURCES INC. RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 (UNAUDITED) Nine Months Ended September 30, -------------------- 1996 1995 -------- ------- (Dollars in Millions, Except Ratio Amounts) Earnings Income (Loss) Before Income Taxes ......................... $166 $(570) Add Interest and fixed charges ............................. 85 81 Portion of rent under long-term operating leases representative of an interest factor ......... 4 4 ---- ---- Total Earnings Available for Fixed Charges ................ $255 $(485) ==== ==== Fixed Charges Interest and fixed charges ................................ $ 85 $ 81 Portion of rent under long-term operating leases representative of an interest factor ............ 4 4 Capitalized interest ...................................... 2 2 ---- ---- Total Fixed Charges ....................................... $ 91 $ 87 ==== ==== Ratio of Earnings to Fixed Charges (1) ....................... 2.80 x - ==== ==== (1) Earnings Available for Fixed Charges for 1995 are inadequate to cover 1995 Fixed Charges by approximately $572 million. Excluding the non-cash charge related to SFAS No. 121, Earnings Available for Fixed Charges for 1995 would have been inadequate to cover 1995 Fixed Charges by approximately $82 million. -14-