Exhibit 12.1 -        COMPUTATION OF RATIO OF DEBT TO ADJUSTED EBITDA 
                                CONTINENTAL RESOURCES, INC.                 


                              
                                                    YEAR ENDED DECEMBER 31,             
                                     --------------------------------------------------------------
                                     1994           1995           1996        1997         1998    
                                     _____          _____         _____       _____       _____  
                                                                           
NET INCOME                           2,875          3,869         13,325      26,197      (17,980)

INCOME TAXES                         1,596          2,252          8,238      (8,941)         0 

INTEREST EXPENSE                       670          2,396          4,550       4,804       12,248 

DD&A                                 6,068          9,614         22,876      33,354       38,716 

EXPLORATION EXPENSE                  6,338          6,184          4,513       6,807        7,106 

LITIGATION SETTLEMENT                    0              0              0      (7,500)           0
                                    -------         -------       -------     -------      -------   

ADJUSTED EBITDA (1)<F1>             17,547         24,315         53,502      54,721       40,090 

TOTAL DEBT                           6,272         44,265         54,759      79,632      167,639 

TOTAL DEBT TO ADJUSTED EBITDA          0.4            1.8            1.0         1.5          4.2 
<FN>
<F1>
(1) Adjusted EBITDA represents earnings before interest expense, income taxes,
depreciation, depletion, amortization and exploration expense, excluding
proceeds from litigation settlements.  Adjusted EBITDA is not a measure of
cash flow as determined by generally accepted accounting principles ("GAAP"). 
Adjusted EBITDA should not be considered as an alternative to, or more
meaningful than, net income or cash flow as determined in accordance with GAAP
or as an indicator of a company's operating performance or liquidity.  Certain
items excluded from Adjusted EBITDA are significant components in
understanding and assessing a company's financial performance, such as a
company's cost of capital and tax structure, as well as historic costs of
depreciable assets, none of which are components of Adjusted EBITDA.  The
Company's computations of Adjusted EBITDA may not be comparable to other
similarly titled measures of other companies.  The Company believes that
Adjusted EBITDA is a widely followed measure of operating performance and may
also be used by investors to measure the Company's ability to meet future debt
service requirements, if any.
</FN>