GOODRICH PETROLEUM CORP - FORM 10-K - EX-12.2 - RATIO OF EARNINGS TO FIXED CHARGES AND PREFERENCE SECURITIES DIVIDENDS - February 26, 2010

Attached files

file filename
10-K - FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2009 - GOODRICH PETROLEUM CORPd10k.htm
EX-23.1 - CONSENT OF ERNST & YOUNG LLP - GOODRICH PETROLEUM CORPdex231.htm
EX-12.1 - RATIO OF EARNINGS TO FIXED CHARGES - GOODRICH PETROLEUM CORPdex121.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CFO - GOODRICH PETROLEUM CORPdex312.htm
EX-23.3 - CONSENT OF NETHERLAND, SEWELL & ASSOCIATES, INC. - GOODRICH PETROLEUM CORPdex233.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CEO - GOODRICH PETROLEUM CORPdex311.htm
EX-32.1 - SECTION 906 CERTIFICATION OF CEO - GOODRICH PETROLEUM CORPdex321.htm
EX-23.2 - CONSENT OF KPMG LLP - GOODRICH PETROLEUM CORPdex232.htm
EX-32.2 - SECTION 906 CERTIFICATION OF CFO - GOODRICH PETROLEUM CORPdex322.htm
EX-99.1 - REPORT OF NETHERLAND, SEWELL & ASSOCIATES, INC. - GOODRICH PETROLEUM CORPdex991.htm

Exhibit 12.2

GOODRICH PETROLEUM CORPORATION

RATIO OF EARNINGS TO FIXED CHARGES AND PREFERENCE SECURITIES DIVIDENDS

(In Thousands, Except Ratios)

 

     Year ended December 31,  
     2009     2008     2007     2006     2005  

Earnings:

           

Income (loss) from continuing operations before income taxes

    $ (318,322 )    $ 176,748      (59,476 )    $ 13,921      (37,554 ) 

Plus: fixed charges

      33,816        31,148      23,925        17,295      3,114   

Preference securities dividends

      (7,668 )      (8,738 )    (6,047 )      (8,952 )    (755 ) 
                                    

Earnings available for fixed charges

    $ (292,174 )    $ 199,158      (41,598 )    $ 22,264      (35,195 ) 
                                    

Fixed Charges:

           

Interest expense

    $ 26,148      $ 22,410      17,878      $ 8,343      2,359   

Preference securities dividends

      7,668        8,738      6,047        8,952      755   
                                    

Total fixed charges

    $ 33,816      $ 31,148      23,925      $ 17,295      3,114   
                                    

Ratio of Earnings to Fixed Charges and Preference Securities Dividends

      (a )      6.39      (b )      1.29      (c ) 
                                    

 

(a) Earnings for the year ended December 31, 2009 were inadequate to cover fixed charges and preference securities dividends. The coverage deficiency was $326.0 million.
(b) Earnings for the year ended December 31, 2007 were inadequate to cover fixed charges and preference securities dividends. The coverage deficiency was $65.5 million.
(c) Earnings for the year ended December 31, 2005 were inadequate to cover fixed charges and preference securities dividends. The coverage deficiency was $38.3 million.

GOODRICH PETROLEUM CORP Reports