Attached files
| file | filename |
|---|---|
| EX-99.2 - EX-99.2 - Gastar Exploration Inc. | gst-ex992_56.htm |
| EX-99.1 - EX-99.1 - Gastar Exploration Inc. | gst-ex991_207.htm |
| EX-32.1 - EX-32.1 - Gastar Exploration Inc. | gst-ex321_7.htm |
| EX-31.2 - EX-31.2 - Gastar Exploration Inc. | gst-ex312_9.htm |
| EX-31.1 - EX-31.1 - Gastar Exploration Inc. | gst-ex311_11.htm |
| EX-23.2 - EX-23.2 - Gastar Exploration Inc. | gst-ex232_14.htm |
| EX-23.1 - EX-23.1 - Gastar Exploration Inc. | gst-ex231_13.htm |
| EX-21.1 - EX-21.1 - Gastar Exploration Inc. | gst-ex211_8.htm |
| EX-12.1 - EX-12.1 - Gastar Exploration Inc. | gst-ex121_12.htm |
| 10-K - 10-K - Gastar Exploration Inc. | gst-10k_20171231.htm |
Exhibit 12.2
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(Unaudited)
|
|
|
For the Years Ended December 31, |
|
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|
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2017 |
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2016 |
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2015 |
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2014 |
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2013 |
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(in thousands, except ratios) |
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|
Earnings (Loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
$ |
(46,755 |
) |
|
$ |
(89,061 |
) |
|
$ |
(459,507 |
) |
|
$ |
50,953 |
|
|
$ |
49,342 |
|
|
Add: Fixed Charges |
|
|
46,291 |
|
|
|
38,522 |
|
|
|
34,796 |
|
|
|
32,138 |
|
|
|
16,598 |
|
|
Add: Amortization of capitalized interest |
|
|
1,216 |
|
|
|
1,389 |
|
|
896 |
|
|
|
594 |
|
|
|
883 |
|
|
|
Less: Interest capitalized |
|
|
(7,207 |
) |
|
|
(3,103 |
) |
|
|
(3,879 |
) |
|
|
(4,347 |
) |
|
|
(3,284 |
) |
|
Net income (loss), as adjusted |
|
$ |
(6,455 |
) |
|
$ |
(52,253 |
) |
|
$ |
(427,694 |
) |
|
$ |
79,338 |
|
|
$ |
63,539 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
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Fixed Charges: |
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|
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|
|
|
|
|
|
|
|
|
|
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|
|
|
|
Total interest expensed |
|
$ |
35,185 |
|
|
$ |
33,368 |
|
|
$ |
30,981 |
|
|
$ |
28,851 |
|
|
$ |
14,130 |
|
|
Amortization of financing costs |
|
|
10,977 |
|
|
|
4,981 |
|
|
|
3,584 |
|
|
|
3,067 |
|
|
|
2,322 |
|
|
Estimated interest portion of operating leases |
|
|
129 |
|
|
|
173 |
|
|
|
231 |
|
|
|
220 |
|
|
|
146 |
|
|
Total fixed charges |
|
$ |
46,291 |
|
|
$ |
38,522 |
|
|
$ |
34,796 |
|
|
$ |
32,138 |
|
|
$ |
16,598 |
|
|
Dividends on preferred stock(1) |
|
|
22,266 |
|
|
|
22,266 |
|
|
|
22,266 |
|
|
|
22,191 |
|
|
|
14,428 |
|
|
Total fixed charges and dividends |
|
$ |
68,557 |
|
|
$ |
60,788 |
|
|
$ |
57,062 |
|
|
$ |
54,329 |
|
|
$ |
31,026 |
|
|
|
|
|
|
|
|
|
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|
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|
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Fixed Charges and Fixed Charge Ratio: |
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Earnings (deficiency) to fixed charges and preferred stock dividends |
|
$ |
(75,012 |
) |
|
$ |
(113,041 |
) |
|
$ |
(484,756 |
) |
|
$ |
25,009 |
|
|
$ |
32,513 |
|
|
Earnings to fixed charges and preferred stock dividends ratio |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
1.5x |
|
|
2.0x |
|
||
___________________________
|
(1) |
Computed as the dividend requirement divided by (1 minus the statutory tax rate). |