##### 



Exhibit 12.1 Nuevo Energy Company
Computation of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges
and Preferred and Preference Stock Dividend Requirements
(Dollars in Thousands) For the Year Ended December 31,2003
    
    2002
    
    2001
    
    2000
    
    1999EarningsPre-tax income (loss) from continuing operations
    
    $
    60,207
    
    
    $
    39,770
    
    
    $
    (152,494
    )
    
    $
    102
    
    
    $
    26,083Minority interest in consolidated subsidiaries
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Income from equity investees
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Pre-tax income (loss) from continuing operations
before minority interest in consolidated subsidiaries
consolidated subsidiaries and income from equity
investees
    
    
    60,207
    
    
    
    39,770
    
    
    
    (152,494
    )
    
    
    102
    
    
    
    26,083Fixed charges
    
    
    50,596
    
    
    
    39,885
    
    
    
    45,482
    
    
    
    37,472
    
    
    
    33,361Distributed income of equity investees
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Amortization of capitalized interest
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Minority interest in consolidated subsidiaries
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Total earnings available for fixed charges
    
    
    110,803
    
    
    
    79,655
    
    
    
    (107,012
    )
    
    
    37,574
    
    
    
    59,444Fixed chargesInterest expensed and capitalized
    
    
    50,596
    
    
    
    39,885
    
    
    
    45,482
    
    
    
    37,472
    
    
    
    33,361Interest component of rent
Total fixed charges
    
    
    50,596
    
    
    
    39,885
    
    
    
    45,482
    
    
    
    37,472
    
    
    
    33,361Ratio of earnings to fixed charges(1)
    
    
    2.19
    
    
    
    2.00
    
    
    
    (2
    )
    
    
    1.00
    
    
    
    1.78
  (1)
    
    The ratio of earnings to combined fixed charges and preferred and
preference stock dividend requirements for the periods presented is the
same as the ratio of earnings to fixed charges since we have no
outstanding preferred stock or preference stock and, therefore, no
dividend requirements.For purposes of calculating these ratios: (i) fixed charges represent
interest expensed and capitalized, including amortized premiums,
discounts and capitalized expenses related to indebtedness; and an
estimate of the interest within rental expenses and (ii) earnings
represent the aggregate of pre-tax income (loss) from continuing
operations before adjustment for minority interests in consolidated
subsidiaries or income (loss) from equity investees, fixed charges,
amortization of capitalized interest and distributed income of equity
investees, less capitalized interest and less minority interest in
pretax income of subsidiaries that have not incurred fixed charges.(2)
    
    Earnings were inadequate to cover fixed charges by $152,494.