Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - WHITING PETROLEUM CORP | d596808d8k.htm |
| EX-4.1 - EX-4.1 - WHITING PETROLEUM CORP | d596808dex41.htm |
| EX-4.2 - EX-4.2 - WHITING PETROLEUM CORP | d596808dex42.htm |
| EX-1.1 - EX-1.1 - WHITING PETROLEUM CORP | d596808dex11.htm |
| EX-4.4 - EX-4.4 - WHITING PETROLEUM CORP | d596808dex44.htm |
| EX-4.3 - EX-4.3 - WHITING PETROLEUM CORP | d596808dex43.htm |
| EX-5.1 - EX-5.1 - WHITING PETROLEUM CORP | d596808dex51.htm |
Exhibit 12.1
WHITING PETROLEUM CORPORATION
PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
| Pro Forma | ||||||||
| Six Months Ended June 30, 2013 |
Year Ended December 31, 2012 |
|||||||
| Fixed charges: |
||||||||
| Interest expensed |
$ | 53,529 | $ | 87,143 | ||||
| Interest capitalized |
602 | 2,749 | ||||||
| Amortized premiums, discounts and capitalized expenses related to indebtedness |
6,182 | 11,886 | ||||||
| Estimate of interest within rental expense |
424 | 1,145 | ||||||
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| Total fixed charges |
$ | 60,737 | $ | 102,923 | ||||
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| Earnings: |
||||||||
| Income before income taxes |
$ | 330,615 | $ | 638,192 | ||||
| Income from equity investees |
(441 | ) | (588 | ) | ||||
| Fixed charges (above) |
60,737 | 102,923 | ||||||
| Amortization of capitalized interest |
1,010 | 1,745 | ||||||
| Distributed income from equity investees |
401 | 930 | ||||||
| Interest capitalized |
(602 | ) | (2,749 | ) | ||||
| Noncontrolling interest in pre-tax loss of subsidiaries |
31 | 90 | ||||||
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|
|
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| Total earnings |
$ | 391,751 | $ | 740,543 | ||||
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| Pro forma ratio of earnings to fixed charges (unaudited) (1) |
6.45 | 7.20 | ||||||
| (1) | The pro forma calculation assumes that $1,100.0 million of debt outstanding under Whiting Oil and Gas Corporation’s credit agreement was repaid, and $250.0 million of Whiting Petroleum Corporation’s outstanding 7.0% Senior Subordinated Notes due 2014 were retired. These amounts were assumed to have been refinanced on January 1, 2012 using a related portion of the net proceeds from the offering of $1,100.0 million of 5.0% senior notes and $800.0 million of 5.75% senior notes. |