Exhibit 12.1 BURLINGTON RESOURCES INC. RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 (UNAUDITED) Three Months Ended March 31, Year Ended December 31, ------------------- --------- --------------------------------------------- 2002 2001 2001 2000 1999 1998 1997 --------- -------- --------- ---------- ----------- --------- ---------- Earnings (Loss) Income (Loss) Before Income Taxes.................. 61 557 907 967 $(13) $(624) $ 470 Equity Earnings Adjustment......................... (3) (3) (18) (8) (2) (4) (9) Add Interest and fixed charges...................... 72 45 190 197 211 193 174 Portion of rent under long-term operating leases representative of an interest factor.. 2 3 8 8 8 7 8 --------- -------- --------- ---------- ----------- --------- ---------- Total Earnings (Loss) Available for Fixed Charges.. $ 132 $ 602 $1,087 $1,164 $ 204 $(428) $ 643 --------- -------- ========= ========== =========== ========= ========== Fixed Charges Interest and fixed charges......................... $ 72 $ 45 $ 190 $ 197 $ 211 $ 193 $ 174 Portion of rent under long-term operating leases representative of an interest factor..... 2 3 8 8 8 7 8 Capitalized interest............................... 4 - 8 14 12 --------- -------- --------- ---------- ----------- --------- ---------- Total Fixed Charges................................ $ 78 $ 48 $ 206 $ 205 $ 219 $ 214 $ 194 ========= ======== ========= ========== =========== ========= ========== Ratio of Earnings to Fixed Charges (1)............... 1.7x 12.5x 5.3x 5.7x 0.9x - x 3.3x ===== ===== ======= ======== ========= ====== ====== (1) Total earnings available for fixed charges in 1998 were inadequate to cover total fixed charges in the amount of approximately $642 million due to the impairment of oil and gas properties.