Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - PIONEER ENERGY SERVICES CORP | exhibit3224q2016.htm |
| EX-32.1 - EXHIBIT 32.1 - PIONEER ENERGY SERVICES CORP | exhibit3214q2016.htm |
| EX-31.2 - EXHIBIT 31.2 - PIONEER ENERGY SERVICES CORP | exhibit3124q2016.htm |
| EX-31.1 - EXHIBIT 31.1 - PIONEER ENERGY SERVICES CORP | exhibit3114q2016.htm |
| EX-23.1 - EXHIBIT 23.1 - PIONEER ENERGY SERVICES CORP | exhibit231-consentq42016.htm |
| EX-21.1 - EXHIBIT 21.1 - PIONEER ENERGY SERVICES CORP | exhibit211-subsidiariesq42.htm |
| 10-K - 10-K - PIONEER ENERGY SERVICES CORP | form10k-q42016.htm |
Exhibit 12.1
Pioneer Energy Services Corp. | |||||||||||||||||||||
Computation of Ratio of Earnings to Fixed Charges | |||||||||||||||||||||
(In thousands, except ratio data) | |||||||||||||||||||||
Year ended December 31, | |||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||
Earnings | |||||||||||||||||||||
Income (loss) before income taxes | $ | (139,123 | ) | $ | (192,719 | ) | $ | (49,322 | ) | $ | (55,778 | ) | $ | 46,386 | |||||||
Plus: Fixed charges | 28,014 | 28,324 | 72,524 | 51,118 | 49,023 | ||||||||||||||||
Less: Capitalized interest | (241 | ) | (3,016 | ) | (705 | ) | (943 | ) | (10,184 | ) | |||||||||||
Total | $ | (111,350 | ) | $ | (167,411 | ) | $ | 22,497 | $ | (5,603 | ) | $ | 85,225 | ||||||||
Fixed Charges | |||||||||||||||||||||
Interest expense | $ | 24,198 | $ | 19,571 | $ | 36,730 | $ | 46,239 | $ | 35,049 | |||||||||||
Loss on extinguishment of debt | 299 | 2,186 | 31,221 | — | — | ||||||||||||||||
Capitalized interest | 241 | 3,016 | 705 | 943 | 10,184 | ||||||||||||||||
Amortization of debt financing costs | 1,776 | 1,691 | 2,098 | 2,126 | 2,114 | ||||||||||||||||
Estimate of interest component of rental expense | 1,500 | 1,860 | 1,770 | 1,810 | 1,676 | ||||||||||||||||
Total | $ | 28,014 | $ | 28,324 | $ | 72,524 | $ | 51,118 | $ | 49,023 | |||||||||||
Ratio of Earnings to Fixed Charges | NA(4) | NA(3) | NA(2) | NA(1) | 1.7 | x | |||||||||||||||
(1) For the year ended December 31, 2013, income was insufficient to cover fixed charges by $56,721,000. | |||||||||||||||||||||
(2) For the year ended December 31, 2014, income was insufficient to cover fixed charges by $50,027,000. | |||||||||||||||||||||
(3) For the year ended December 31, 2015, income was insufficient to cover fixed charges by $195,735,000. | |||||||||||||||||||||
(4) For the year ended December 31, 2016, income was insufficient to cover fixed charges by $139,364,000. | |||||||||||||||||||||