Exhibit 12.1

 

ANTERO RESOURCES LLC

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

 

 

2009

 

2010

 

2011

 

2012

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax income (loss) from continuing operations

 

$

(60,197

)

$

1,155

 

$

456,485

 

$

346,505

 

$

(24,187

)

Fixed charges

 

36,348

 

56,736

 

74,743

 

$

97,877

 

$

137,343

 

Total adjusted earnings available for payment of fixed charges

 

$

(23,849

)

$

57,891

 

$

531,228

 

$

444,382

 

$

113,156

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amortization of debt related expenses

 

$

36,053

 

$

56,463

 

$

74,404

 

$

97,510

 

$

136,617

 

Rental expense representative of interest factor

 

$

295

 

$

273

 

$

339

 

$

367

 

$

726

 

Total fixed charges

 

$

36,348

 

$

56,736

 

$

74,743

 

$

97,877

 

$

137,343

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

NA

(1)

1.02

X

7.11

X

4.54

X

NA

(2)

 


(1)        Earnings are deficient to cover fixed charges by $60,197.

 

(2)        Earnings are deficient to cover fixed charges by $24,187.