PETROHAWK ENERGY CORP - FORM 10-Q - EX-12.1 - COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES - November 4, 2009

Attached files

file filename
10-Q - FORM 10-Q FOR QUARTERLY PERIOD ENDED SEPTEMBER 30, 2009 - PETROHAWK ENERGY CORPd10q.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CFO - PETROHAWK ENERGY CORPdex312.htm
EX-4.26 - FIRST SUPPLEMENTAL INDENTURE - PETROHAWK ENERGY CORPdex426.htm
EX-4.11 - SEVENTH SUPPLEMENTAL INDENTURE - PETROHAWK ENERGY CORPdex411.htm
EX-4.17 - FIFTH SUPPLEMENTAL INDENTURE - PETROHAWK ENERGY CORPdex417.htm
EX-21.1 - SUBSIDIARIES OF THE REGISTRANT - PETROHAWK ENERGY CORPdex211.htm
EX-4.21 - THIRD SUPPLEMENTAL INDENTURE - PETROHAWK ENERGY CORPdex421.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CEO - PETROHAWK ENERGY CORPdex311.htm
EXCEL - IDEA: XBRL DOCUMENT - PETROHAWK ENERGY CORPFinancial_Report.xls
EX-32.1 - SECTION 906 CERTIFICATION OF CEO AND CFO - PETROHAWK ENERGY CORPdex321.htm

Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends

(In thousands, except ratios)

 

    Nine Months Ended
September 30,		   Years Ended
December 31,
    2009     2008   2008     2007   2006   2005     2004

Earnings:

              

Pre-tax (loss) income

   $ (1,712,135 )    $ 256,863   $ (533,005 )    $ 86,035   $ 189,098   $ (25,697 )    $ 9,246

Fixed charges

     175,517        108,219     156,713        133,474     89,086     25,795        3,269
                                               

Total earnings

   $ (1,536,618 )    $ 365,082   $ (376,292 )    $ 219,509   $ 278,184   $ 98      $ 12,515
                                               

Fixed charges:

              

Interest expense and amortization of finance costs

   $ 174,270      $ 107,233   $ 155,361      $ 132,264   $ 88,414   $ 25,551      $ 3,178

Rental expense representative of interest factor

     1,247        986     1,352        1,210     672     244        91
                                               

Total fixed charges

   $ 175,517      $ 108,219   $ 156,713      $ 133,474   $ 89,086   $ 25,795      $ 3,269
                                               

Ratio of earnings to fixed charges

     —   (1)      3.4     —   (2)      1.6     3.1     —   (3)      3.8
                                               

Total fixed charges

   $ 175,517      $ 108,219   $ 156,713      $ 133,474   $ 89,086   $ 25,795      $ 3,269

Pre-tax preferred dividend requirements

     —          —       —          —       352     680        507
                                               

Total fixed charges plus preference dividends

   $ 175,517      $ 108,219   $ 156,713      $ 133,474   $ 89,438   $ 26,475      $ 3,776
                                               

Ratio of earnings to combined fixed charges and preference dividends

     —   (1)      3.4     —   (2)      1.6     3.1     —   (4)      3.3
                                               

 

(1) Due to the Company’s loss for the nine months ended September 30, 2009, the ratio coverage was less than 1:1. The Company must generate additional earnings of $1.7 billion to achieve a coverage ratio of 1:1
(2) Due to the Company’s loss in 2008, the ratio coverage was less than 1:1. The Company must generate additional earnings of $533.0 million to achieve a coverage ratio of 1:1.
(3) Due to the Company’s loss in 2005, the ratio coverage was less than 1:1. The Company must generate additional earnings of $25.7 million to achieve a coverage ratio of 1:1.
(4) Due to the Company’s loss in 2005, the ratio coverage was less than 1:1. The Company must generate additional earnings of $26.4 million to achieve a coverage ratio of 1:1.