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EXHIBIT 12
HORNBECK-LEEVAC Marine Services, Inc.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
<Table>
<Caption>
YEAR ENDED DECEMBER 31, SIX MONTHS ENDED JUNE 30,
1997 1998 1999 2000 2000 2000 2001 2001
PRO- PRO-
FORMA FORMA
AS AS
ADJUSTED ADJUSTED
Earnings:
Income before income taxes (260) (59) 869 4,288 4,430 728 7,872 5,985
Fixed charges (computed below) 338 2,122 7,264 8,821 18,271 4,686 3,995 11,464
Interest capitalized (--) (769) (1,628) (365) (465) 189 (1,053) 966
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Total 78 1,294 6,505 12,744 22,236 5,225 10,814 16,483
Fixed charges:
Interest expense 324 1,155 5,092 7,911 20,510 4,217 2,565 10,121
Interest capitalized -- 769 1,628 365 465 189 1,053 966
Amortization of debt costs -- 161 391 396 600 203 293 293
Amortization of warrants -- -- 100 100 100 50 50 50
Interest as a component of rent
expense 14 37 53 49 49 27 34 34
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338 2,122 7,261 8,821 21,724 4,686 3,995 11,464
Ratio of earnings to fixed
charges(1) N/A N/A N/A 1.4 N/A 1.1 2.7 1.4
</Table>
(1) For the years ended December 31, 1997, 1998 and 1999, earnings were
deficient to cover fixed charges by $260, $828, and $756, respectively.
(2) For the pro-forma as adjusted for the year ended December 31, 2000, earnings
were insufficient to cover fixed charges by $1,726.