Attached files
| file | filename |
|---|---|
| EX-23.1 - EXHIBIT 23.1 - NORTHERN OIL & GAS, INC. | exhibit231-201610k.htm |
| EX-99.1 - EXHIBIT 99.1 - NORTHERN OIL & GAS, INC. | exhibit991-201610k.htm |
| EX-32.1 - EXHIBIT 32.1 - NORTHERN OIL & GAS, INC. | exhibit321-201610k.htm |
| EX-31.1 - EXHIBIT 31.1 - NORTHERN OIL & GAS, INC. | exhibit311-201610k.htm |
| EX-23.3 - EXHIBIT 23.3 - NORTHERN OIL & GAS, INC. | exhibit233-201610k.htm |
| EX-23.2 - EXHIBIT 23.2 - NORTHERN OIL & GAS, INC. | exhibit232-201610k.htm |
| 10-K - 10-K - NORTHERN OIL & GAS, INC. | nog-20161231x10k.htm |
Exhibit 12
Calculation of Ratio of Earnings to Fixed Charges
Northern Oil and Gas, Inc.
Year Ended December 31, | |||||||||||||||||||
2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||
Earnings (Deficit) Before Income Taxes | $ | 115,286,396 | $ | 84,834,650 | $ | 263,112,945 | $ | (1,177,778,745 | ) | $ | (294,895,887 | ) | |||||||
Add: | |||||||||||||||||||
Fixed Charges | 19,819,598 | 38,688,300 | 46,517,384 | 59,869,939 | 64,854,615 | ||||||||||||||
Subtract: | |||||||||||||||||||
Capitalized Interest | 5,929,473 | 5,976,981 | 4,409,544 | 1,506,172 | 356,196 | ||||||||||||||
Total Earnings (Deficit) Before Fixed Charges | 129,176,521 | 117,545,969 | 305,220,785 | (1,119,414,978 | ) | (230,397,468 | ) | ||||||||||||
Fixed Charges | |||||||||||||||||||
Interest Expense | 13,874,909 | 32,709,056 | 42,105,676 | 58,360,387 | 64,485,623 | ||||||||||||||
Capitalized Interest | 5,929,473 | 5,976,981 | 4,409,544 | 1,506,172 | 356,196 | ||||||||||||||
Estimated Interest Component of Rent | 15,216 | 2,263 | 2,164 | 3,380 | 12,796 | ||||||||||||||
Total Fixed Charges | 19,819,598 | 38,688,300 | 46,517,384 | 59,869,939 | 64,854,615 | ||||||||||||||
Ratio of Earnings (Deficit) to Fixed Charges(1) | 6.5x | 3.0x | 6.6x | -(2) | -(2) | ||||||||||||||
_______________
(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) | Earnings were insufficient to cover fixed charges by approximately $359.8 and $1,237.6 million for the years ended December 31, 2016 and 2015, respectively, due primarily to a non-cash impairment charge. |