Exhibit 12.1

W&T Offshore, Inc.

Computation of Ratios of Earnings to Fixed Charges and

Earnings to Fixed Charges and Preferred Stock Dividends

(in thousands, except ratios)

(unaudited)

 

     Year Ended December 31,
     2001    2002    2003    2004    2005

Income before income taxes

    $ 63,569    $ 54,457    $ 177,594    $ 229,490    $ 290,026

Add:

               

Fixed charges

      4,721      3,794      3,822      3,581      2,967
                                  

Earnings before fixed charges

    $ 68,290    $ 58,251    $ 181,416    $ 233,071    $ 292,993
                                  

Fixed charges:

               

Interest expense

    $ 4,167    $ 3,050    $ 2,508    $ 2,118    $ 1,145

Portion of rental expense representative of an interest factor

      554      744      1,314      1,463      1,822
                                  

Total fixed charges

      4,721      3,794      3,822      3,581      2,967

Preferred stock dividends (1)

      —        —        8,957      1,385      —  
                                  

Combined fixed charges and preferred stock dividends

    $ 4,721    $ 3,794    $ 12,779    $ 4,966    $ 2,967
                                  

Ratio of earnings to fixed charges

      14.5      15.4      47.5      65.1      98.8
                                  

Ratio of earnings to combined fixed charges and preferred stock dividends

      14.5      15.4      14.2      46.9      98.8
                                  
(1) Preferred stock dividends are adjusted to reflect the amount of pre-tax earnings required for payment. In connection with our initial public offering in January 2005, all outstanding shares of our preferred stock were converted into shares of our common stock.