Attached files
| file | filename |
|---|---|
| EX-23.1 - CONSENT OF DEGOLYER AND MACNAUGHTON - Berry Petroleum Company, LLC | a2015exhibit231.htm |
| EX-31.1 - CERTIFICATION OF CEO SECTION 302 - Berry Petroleum Company, LLC | a2015exhibit311.htm |
| 10-K - FORM 10-K 2015 - Berry Petroleum Company, LLC | berry2015form10-k.htm |
| EX-32.2 - CERTIFICATION OF CFO SECTION 906 - Berry Petroleum Company, LLC | a2015exhibit322.htm |
| EX-31.2 - CERTIFICATION OF CFO SECTION 302 - Berry Petroleum Company, LLC | a2015exhibit312.htm |
| EX-32.1 - CERTIFICATION OF CEO SECTION 906 - Berry Petroleum Company, LLC | a2015exhibit321.htm |
| EX-99.1 - 2015 REPORT OF DEGOLYER AND MACNAUGHTON - Berry Petroleum Company, LLC | exhibit991berrypetroleum20.htm |
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
Successor | Predecessor | ||||||||||||||||||||||||
December 31, 2015 | December 31, 2014 | December 17, 2013 through December 31, 2013 | January 1, 2013 through December 16, 2013 | December 31, 2012 | December 31, 2011 | ||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (1,015,245 | ) | $ | 22,665 | $ | (19,973 | ) | $ | 158,727 | $ | 259,660 | $ | (370,291 | ) | ||||||||||
Fixed charges | 87,871 | 93,774 | 4,004 | 102,272 | 101,051 | 101,924 | |||||||||||||||||||
Amortization of capitalized interest | 106 | 209 | — | 2,902 | 2,116 | 1,813 | |||||||||||||||||||
Capitalized interest | (2,053 | ) | (5,826 | ) | (41 | ) | (6,145 | ) | (17,915 | ) | (29,117 | ) | |||||||||||||
Total earnings available for fixed charges | $ | (929,321 | ) | $ | 110,822 | $ | (16,010 | ) | $ | 257,756 | $ | 344,912 | $ | (295,671 | ) | ||||||||||
Fixed charges: | |||||||||||||||||||||||||
Interest expense | $ | 85,818 | $ | 87,948 | $ | 3,963 | $ | 96,127 | $ | 83,136 | $ | 72,807 | |||||||||||||
Capitalized interest | 2,053 | 5,826 | 41 | 6,145 | 17,915 | 29,117 | |||||||||||||||||||
Total fixed charges | $ | 87,871 | $ | 93,774 | $ | 4,004 | $ | 102,272 | $ | 101,051 | $ | 101,924 | |||||||||||||
Ratio of earnings to fixed charges | — | (1) | 1.2 | — | (1) | 2.5 | 3.4 | — | (1) | ||||||||||||||||
(1) | Earnings for the year ended December 31, 2015, were insufficient to cover fixed charges by approximately $1.0 billion, primarily due to noncash impairment charges of approximately $854 million associated with oil and natural gas properties primarily related to a decline in commodity prices, changes in expected capital development and a decline in the Company’s estimates of proved reserves. Earnings for the period from December 17, 2013 through December 31, 2013, were insufficient to cover fixed charges by approximately $20 million, primarily due to approximately $16 million in costs associated with the LINN Energy transaction. Earnings for the year ended December 31, 2011, were insufficient to cover fixed charges by approximately $398 million, primarily due to pre-tax, noncash impairment charges of approximately $625 million associated with natural gas properties in east Texas related to a decline in natural gas prices. |