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EX-31.1 - EXHIBIT 31.1 - Oasis Petroleum Inc.oas-12312016xex311.htm
EX-99.1 - EXHIBIT 99.1 - Oasis Petroleum Inc.oas-12312016xex991.htm
EX-32.2 - EXHIBIT 32.2 - Oasis Petroleum Inc.oas-12312016xex322.htm
EX-32.1 - EXHIBIT 32.1 - Oasis Petroleum Inc.oas-12312016xex321.htm
EX-31.2 - EXHIBIT 31.2 - Oasis Petroleum Inc.oas-12312016xex312.htm
EX-23.2 - EXHIBIT 23.2 - Oasis Petroleum Inc.oas-12312016xex232.htm
EX-23.1 - EXHIBIT 23.1 - Oasis Petroleum Inc.oas-12312016xex231.htm
EX-21.1 - EXHIBIT 21.1 - Oasis Petroleum Inc.oas-12312016xex211.htm
10-K - 10-K - Oasis Petroleum Inc.oas-12312016x10k.htm


EXHIBIT 12.1
Oasis Petroleum Inc.
Computation of Ratio of Earnings to Fixed Charges
 
 
 
Year Ended December 31,
 
 
2012
 
2013
 
2014
 
2015
 
2016
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
 
$
245,874

 
$
363,017

 
$
814,468

 
$
(56,371
)
 
$
(371,554
)
Add: Fixed charges
 
73,932

 
112,282

 
167,890

 
170,624

 
159,260

Add: Amortization of capitalized interest
 
671

 
1,009

 
1,718

 
3,315

 
4,935

Less: Capitalized interest
 
(3,298
)
 
(4,592
)
 
(8,850
)
 
(18,582
)
 
(16,848
)
Total earnings
 
$
317,179

 
$
471,716

 
$
975,226

 
$
98,986

 
$
(224,207
)
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
70,143

 
$
107,165

 
$
158,390

 
$
149,648

 
$
140,305

Capitalized interest
 
3,298

 
4,592

 
8,850

 
18,582

 
16,848

Rental expense attributable to interest
 
491

 
525

 
650

 
2,394

 
2,107

Total fixed charges
 
$
73,932

 
$
112,282

 
$
167,890

 
$
170,624

 
$
159,260

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges(1)(2)
 
4.29

 
4.20

 
5.81

 

 

 
(1)
The Company had no preferred stock outstanding for any period presented, and accordingly, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.
(2)
Due to the Company's net pre-tax loss for the years ended December 31, 2016 and 2015, the ratio coverage was less than 1:1. The Company would have needed additional earnings of $385.3 million and $71.6 million for the years ended December 31, 2016 and 2015, respectively, to achieve a coverage of 1:1.