1 EXHIBIT 12 MESA INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS) The following computations of the ratio of earnings to fixed charges for the nine months ended September 30, 1996 and for the years ended December 31, 1995, 1994, 1993, 1992 and 1991 represent the actual results of Mesa's operations for those periods. Year Ended December 31, Nine Months Ended ------------------------------------------------------------------- September 30, 1996 1995 1994 1993 1992 1991 ------------------ --------- --------- ---------- --------- --------- EARNINGS: Net loss $ (67,308) $ (57,568) $ (83,353) $ (102,448) $ (89,232) $ (79,163) ADJUSTMENTS: Loss on investment accounted for under the -- -- -- -- -- -- equity method Minority interest in loss -- -- (3) (4,318) (3,854) (3,419) Interest expense 99,697 148,630 144,757 142,002 143,392 150,770 --------- --------- --------- ---------- --------- --------- Total earnings $ 32,389 $ 91,062 $ 61,401 $ 35,236 $ 50,306 $ 68,188 ========= ========= ========= ========== ========= ========= Fixed charges Interest capitalized 133 908 104 2,884 2,365 -- Interest expense 99,697 148,630 144,757 142,002 143,392 150,770 --------- --------- --------- ---------- --------- --------- Total fixed charges 99,830 149,538 144,861 144,886 145,757 150,770 ========= ========= ========= ========== ========= ========= Ratio of earnings to fixed charges (a) (a) (a) (a) (a) (a) Amount by which fixed charges exceed earnings $ 67,441 $ 58,476 $ 83,460 $109,650 $ 95,451 $ 82,582 ========= ========= ========= ========== ========= ========= (a) Earnings were not adequate to cover fixed charges in the indicated periods.