MARINER ENERGY INC - FORM 10-K - EX-12 - March 1, 2010

Attached files

file filename
10-K - FORM 10-K - MARINER ENERGY INCh69856e10vk.htm
EX-21 - EX-21 - MARINER ENERGY INCh69856exv21.htm
EX-31.2 - EX-31.2 - MARINER ENERGY INCh69856exv31w2.htm
EX-23.2 - EX-23.2 - MARINER ENERGY INCh69856exv23w2.htm
EX-32.1 - EX-32.1 - MARINER ENERGY INCh69856exv32w1.htm
EX-32.2 - EX-32.2 - MARINER ENERGY INCh69856exv32w2.htm
EX-99.1 - EX-99.1 - MARINER ENERGY INCh69856exv99w1.htm
EX-31.1 - EX-31.1 - MARINER ENERGY INCh69856exv31w1.htm
EX-23.1 - EX-23.1 - MARINER ENERGY INCh69856exv23w1.htm
EX-10.24 - EX-10.24 - MARINER ENERGY INCh69856exv10w24.htm
EX-10.23 - EX-10.23 - MARINER ENERGY INCh69856exv10w23.htm
Exhibit 12
Mariner Energy, Inc.
Statement regarding Computation of Ratio of Earnings to Fixed Charges
(unaudited)
                                         
    For the Years Ended December 31,  
    2009     2008     2007     2006     2005  
    (in thousands, except ratio)  
Earnings from continuing operations before fixed charges
                                        
Income before taxes
     (543,779 )     (436,748 )     221,259       188,806       61,775  
Add: Fixed charges
     86,456       67,308       56,173       40,592       9,042  
Less: Capitalized interest
     14,661       9,651       474       1,528       703  
 
                              
Earnings from continuing operations before fixed charges
     (471,984 )     (379,091 )     276,958       227,870       70,114  
 
                                        
Fixed Charges
                                        
Interest expense, net of capitalized interest
     70,134       56,399       54,665       38,275       8,172  
Add: Capitalized interest
     14,661       9,651       474       1,528       703  
Add: Estimated interest portion of rental expenditures
     1,092       689       465       400       167  
Add: Amortization of discounts
     569       569       569       389       —  
 
                              
Total Fixed Charges
     86,456       67,308       56,173       40,592       9,042  
 
                                        
Ratio of earnings to fixed charges (1)
     —       —       4.93       5.61       7.75  
 
(1)   Due to loss from operations in 2009 and 2008, the ratio coverage was less than 1:1. Mariner would have needed to generate additional earnings of $558,440 and $446,399 respectively, to achieve a coverage of 1:1 for that period.

 

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