EXHIBIT 12
HORNBECK-LEEVAC Marine Services, Inc.
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
<Table>
<Caption>
YEAR ENDED DECEMBER 31, NINE MONTHS ENDED SEPTEMBER 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 1,513 2,138 13,589 10,810
Fixed charges (computed below) 338 2,122 7,434 9,126 21,493 7,024 9,431 17,998
Interest capitalized (--) (769) (1,628) (365) (465) (226) (2,086) (2,207)
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Total 78 1,294 6,675 13,049 22,541 8,936 20,934 26,601
Fixed charges:
Interest expense 324 1,155 5,262 8,216 20,279 6,365 6,737 15,183
Interest capitalized -- 769 1,628 365 465 226 2,086 2,207
Amortization of debt costs -- 161 391 396 600 300 469 469
Amortization of warrants -- -- 100 100 100 75 75 75
Interest as a component of rent
expense 14 37 53 49 49 58 64 64
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338 2,122 7,434 9,126 21,493 7,024 9,431 17,998
Ratio of earnings to fixed
charges(1) N/A N/A N/A 1.4 1.1 1.3 2.2 1.5
</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.