Attached files
| file | filename |
|---|---|
| EX-31.1 - EXHIBIT 31.1 - SILVERBOW RESOURCES, INC. | a201510k-exhibit311.htm |
| EX-99.1 - EXHIBIT 99.1 - SILVERBOW RESOURCES, INC. | a201510k-exhibit991.htm |
| EX-23.1 - EXHIBIT 23.1 - SILVERBOW RESOURCES, INC. | a201510k-exhibit231.htm |
| EX-23.2 - EXHIBIT 23.2 - SILVERBOW RESOURCES, INC. | a201510k-exhibit232.htm |
| EX-32 - EXHIBIT 32 - SILVERBOW RESOURCES, INC. | a201510k-exhibit32.htm |
| EX-31.2 - EXHIBIT 31.2 - SILVERBOW RESOURCES, INC. | a201510k-exhibit312.htm |
| 10-K - 2015 10-K - SILVERBOW RESOURCES, INC. | a2015-10k.htm |
| EX-21 - EXHIBIT 21 - SILVERBOW RESOURCES, INC. | a201510k-exhibit21.htm |
Exhibit 12 | |||||||||||||||
SWIFT ENERGY COMPANY | |||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES (in thousands) | |||||||||||||||
2011 | 2012 | 2013 | 2014 | 2015 | |||||||||||
GROSS G&A | 87,789 | 89,663 | 88,818 | 78,480 | 64,536 | ||||||||||
NET G&A | 45,325 | 47,097 | 45,423 | 39,629 | 42,611 | ||||||||||
INTEREST EXPENSE, NET | 35,566 | 57,303 | 69,382 | 73,207 | 75,870 | ||||||||||
RENTAL & LEASE EXPENSE | 5,642 | 5,636 | 6,046 | 4,679 | 3,805 | ||||||||||
INCOME FROM CONTINUING OPERATIONS, BEFORE INCOME TAXES AND CHANGE IN ACCOUNTING PRINCIPLE | 131,125 | 37,773 | 198 | (433,470) | (1,734,514) | ||||||||||
CAPITALIZED INTEREST | 7,667 | 7,890 | 7,223 | 5,024 | 4,893 | ||||||||||
CALCULATED DATA | |||||||||||||||
EXPENSED OR NON-CAPITAL G&A (%) | 51.63 | % | 52.53 | % | 51.14 | % | 50.5 | % | 66.03 | % | |||||
NON-CAPITAL RENT EXPENSE | 2,913 | 2,960 | 3,092 | 2,363 | 2,512 | ||||||||||
1/3 NON-CAPITAL RENT EXPENSE | 971 | 987 | 1,031 | 788 | 837 | ||||||||||
FIXED CHARGES | 44,204 | 66,180 | 77,636 | 79,019 | 81,600 | ||||||||||
EARNINGS | 167,662 | 96,063 | 70,611 | (359,475) | (1,657,807) | ||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 3.79 | 1.45 | 0.91 | — | — | ||||||||||
Amount needed for a "break-even" ratio earnings | 1,739,407 | ||||||||||||||
For purposes of calculating the ratio of earnings to fixed charges, fixed charges include interest expense, capitalized interest, amortization of debt issuance costs and discounts, and that portion of non-capitalized rental expense deemed to be the equivalent of interest. Earnings represents income before income taxes and cumulative effect of change in accounting principle before interest expense, net, and that portion of rental expense deemed to be the equivalent of interest. Due to the non-cash charge incurred in 2015 caused by the write-downs in the carrying value of oil and gas properties, 2015 earnings were insufficient by $1.74 billion to cover fixed charges. | |||||||||||||||