EXHIBIT 12.2 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
CONTINENTAL RESOURCES, INC.
PRO FORMA PRO FORMA
YEAR ENDED SIX MONTHS SIX MONTHS
YEAR ENDED DECEMBER 31, DECEMBER 31, ENDED JUNE 30, ENDED JUNE 30,
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1993 1994 1995 1996 1997 1997 1997 1998 1998
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EARNINGS(1) 8,746 4,471 6,121 21,563 17,256 11,066 7,389 (3,499) (6,705)
FIXED CHARGES(2) 314 670 2,396 4,550 4,804 16,144 2,313 5,174 8,263
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TOTAL EARNINGS AND FIXED CHARGES 9,060 5,141 8,517 26,113 22,060 27,210 9,702 1,675 1,558
RATIO 28.9 7.7 3.6 5.7 4.6 1.7 4.2 N/A N/A
(1) "Earnings" represents income (loss) before provision for federal and
state income taxes or income tax benefits. "Fixed charges" consists of
interest expense and amortization of costs incurred in connection with
the Offering.
(2) Pro forma to give effect to the issuance of $150 million of Senior
Subordinated Notes due 2008 with an interest rate of 10.25%. For
purposes of computing the Ratio of Earnings to Fixed Charges, interest
expense includes interest on the Senior Subordinated notes together with
amortization of the underwriting discounts and expenses of the Offering;
for the period ended December 31, 1997, amortization expense was
$460,000 and for the period ended June 30, 1998 amortization expense
was $232,000.