1
EXHIBIT 12.1
NEWFIELD EXPLORATION COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Year Ended December 31, Three Months
----------------------------------------------------------- Ended September 30,
1995 1996 1997 1998 1999 2000
------- ------- ------- ------- ------- ------------------
Net pre-tax income 25,006 59,286 62,421 -88,376 52,015 136,409
Fixed charges:
Interest expense, including debt issue
amortization 208 420 3,268 9,508 14,744 14,622
Capitalized interest 674 1,508 3,481 4,369 2,376 3,938
Interest portion of rent expenses 163 179 197 633 933 792
------- ------- ------- ------- ------- -------
TOTAL FIXED CHARGES 1,045 2,107 6,946 14,510 18,053 19,352
======= ======= ======= ======= ======= =======
EARNINGS BEFORE FIXED CHARGES 25,377 59,885 65,886 -78,235 67,692 151,823
RATIO OF EARNINGS TO FIXED CHARGES 24.3x 28.4x 9.5x -5.4x 3.7x 7.8x