Attached files
| file | filename |
|---|---|
| 10-K - 10-K - Amplify Energy Corp. | a18-1061_110k.htm |
| EX-99.1 - EX-99.1 - Amplify Energy Corp. | a18-1061_1ex99d1.htm |
| EX-32.2 - EX-32.2 - Amplify Energy Corp. | a18-1061_1ex32d2.htm |
| EX-32.1 - EX-32.1 - Amplify Energy Corp. | a18-1061_1ex32d1.htm |
| EX-31.2 - EX-31.2 - Amplify Energy Corp. | a18-1061_1ex31d2.htm |
| EX-31.1 - EX-31.1 - Amplify Energy Corp. | a18-1061_1ex31d1.htm |
| EX-23.3 - EX-23.3 - Amplify Energy Corp. | a18-1061_1ex23d3.htm |
| EX-23.2 - EX-23.2 - Amplify Energy Corp. | a18-1061_1ex23d2.htm |
| EX-23.1 - EX-23.1 - Amplify Energy Corp. | a18-1061_1ex23d1.htm |
| EX-21.1 - EX-21.1 - Amplify Energy Corp. | a18-1061_1ex21d1.htm |
| EX-10.21 - EX-10.21 - Amplify Energy Corp. | a18-1061_1ex10d21.htm |
| EX-10.20 - EX-10.20 - Amplify Energy Corp. | a18-1061_1ex10d20.htm |
MIDSTATES PETROLEUM COMPANY, INC.
RATIO OF EARNINGS TO FIXED CHARGES AND TO COMBINED FIXED CHARGES AND
PREFERRED DIVIDENDS
(In thousands, except ratios)
|
|
|
Successor |
|
|
Predecessor |
| ||||||||||||||
|
|
|
Year Ended |
|
For the Period |
|
|
For the Period |
|
Year Ended December 31, |
| ||||||||||
|
|
|
2017 |
|
December 31, 2016 |
|
|
October 20, 2016 |
|
2015 |
|
2014 |
|
2013 |
| ||||||
|
Earnings available before fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Pre-tax income (loss) |
|
$ |
(85,077 |
) |
$ |
9,930 |
|
|
$ |
1,323,079 |
|
$ |
(1,806,836 |
) |
$ |
123,324 |
|
$ |
(490,514 |
) |
|
Interest expense (Predecessor Period excludes interest expense of $89.5 million on senior and secured notes) |
|
7,647 |
|
1,409 |
|
|
61,773 |
|
151,832 |
|
129,691 |
|
77,179 |
| ||||||
|
Amortization of capitalized interest |
|
780 |
|
15 |
|
|
— |
|
23,960 |
|
4,961 |
|
10,683 |
| ||||||
|
Loan cost amortization |
|
385 |
|
63 |
|
|
4,587 |
|
11,316 |
|
7,857 |
|
5,960 |
| ||||||
|
Portion of rental expense which represents interest factor |
|
189 |
|
41 |
|
|
699 |
|
699 |
|
698 |
|
497 |
| ||||||
|
Total earnings available for fixed charges |
|
$ |
(76,076 |
) |
$ |
11,458 |
|
|
$ |
1,390,138 |
|
$ |
(1,619,029 |
) |
$ |
266,531 |
|
$ |
(396,195 |
) |
|
Interest expense (Predecessor Period excludes interest expense of $89.5 million on senior and secured notes) |
|
$ |
7,647 |
|
$ |
1,409 |
|
|
$ |
61,773 |
|
$ |
151,832 |
|
$ |
129,691 |
|
$ |
77,179 |
|
|
Capitalized interest |
|
2,440 |
|
728 |
|
|
— |
|
4,859 |
|
12,415 |
|
32,245 |
| ||||||
|
Loan cost amortization |
|
385 |
|
63 |
|
|
4,587 |
|
11,316 |
|
7,857 |
|
5,960 |
| ||||||
|
Portion of rental expense which represents interest factor |
|
189 |
|
41 |
|
|
699 |
|
699 |
|
698 |
|
497 |
| ||||||
|
Total fixed charges |
|
$ |
10,661 |
|
$ |
2,241 |
|
|
$ |
67,059 |
|
$ |
168,706 |
|
$ |
150,661 |
|
115,881 |
| |
|
Ratio of earnings to fixed charges |
|
— |
|
5.1x |
|
|
20.7x |
|
— |
|
1.8x |
|
— |
| ||||||
|
Insufficient coverage |
|
$ |
86,737 |
|
$ |
— |
|
|
$ |
— |
|
$ |
1,787,735 |
|
$ |
— |
|
$ |
512,076 |
|
|
Total fixed charges |
|
$ |
10,661 |
|
$ |
2,241 |
|
|
$ |
67,059 |
|
$ |
168,706 |
|
$ |
150,661 |
|
$ |
115,881 |
|
|
Pre-tax preferred dividends(1) |
|
— |
|
— |
|
|
— |
|
23,545 |
|
30,863 |
|
38,588 |
| ||||||
|
Total fixed charges plus preferred dividends |
|
$ |
10,661 |
|
$ |
2,241 |
|
|
$ |
67,059 |
|
$ |
192,251 |
|
$ |
181,524 |
|
$ |
154,469 |
|
|
Ratio of earnings to combined fixed charges and preferred dividends |
|
— |
|
5.1x |
|
|
20.7x |
|
— |
|
1.5x |
|
— |
| ||||||
|
Insufficient coverage |
|
$ |
86,737 |
|
$ |
— |
|
|
$ |
— |
|
$ |
1,811,280 |
|
$ |
— |
|
$ |
550,664 |
|
(1) Preferred dividends shown herein relate to the Company’s Series A Mandatorily Convertible Preferred Stock (“Series A Preferred Stock”) issued on October 1, 2012, which allows, at the Company’s option, for the 8% annual dividend payment to be made either in cash or through an adjustment to the Series A Preferred Stock liquidation preference. Pre-tax preferred stock dividend amounts for the years ended December 31, 2015, 2014 and 2013 were calculated utilizing the Company’s effective tax rate for the applicable periods (0.5%, 5.2% and 29.9%, respectively) and represent the notional dividend amount as though paid in cash, rather than through an adjustment to the Series A Preferred Stock liquidation preference. On September 30, 2015, the Series A Preferred Stock converted into 3,738,424 shares of common stock.