**Exhibit 12.1**

 

**Ratio of Fixed Charges to Earnings**

 
| ** **                                                                                                         | ** ** | **Three Months Ended** | ** ** | **Years Ended December 31,** | ** ** |
|--------------------------------------------------------------------------------------------------------------------|------------|----------------------------------|------------|---------------------------------------------|------------|
| ** **                                                                                                         | ** ** | **March 31, 2012**     | ** ** | **2011**                                    | ** ** | **2010** | ** ** | **2009** | ** ** | **2008** | ** ** | **2007** | ** ** |
| ** **                                                                                                         | ** ** | **(in thousands)**          | ** ** | **(in thousands)**                     | ** ** |
| Fixed   Charges:                                                                                                   |       |                             |       |                                        |       |   |   |   |   |   |   |   |   |
| Interest   Charges                                                                                                 |       | $                                | 5,384      |                                        | $          | 12,004 |   | $ | 3,593 |   | $ | 2,691 |   | $ | 2,361 |   | $ | 722 |   |
| Series A   Convertible Preferred Stock, cumulative, dividend rate 10%                                         |       | $                                | —     |                                        | $          | — |   | $ | — |   | $ | — |   | $ | 735 |   | $ | 511 |   |
| Series A   Convertible Preferred Units of Eureka Hunter Holdings, LLC, cumulative   distribution rate of 8.0% |       | $                                | 148        |                                        | $          | — |   | $ | — |   | $ | — |   | $ | — |   | $ | — |   |
| Series B   Convertible Preferred Stock, cumulative, dividend rate 2.75%                                       |       | $                                | —     |                                        | $          | — |   | $ | 131 |   | $ | — |   | $ | — |   | $ | — |   |
| Series C   Cumulative Perpetual Preferred Stock, cumulative dividend rate 10.25%                              |       | $                                | 2,562      |                                        | $          | 3,759 |   | $ | 2,336 |   | $ | 26 |   | $ | — |   | $ | — |   |
| Series D   Cumulative Preferred Stock, cumulative dividend rate 8.0%                                          |       | $                                | 1,884      |                                        | $          | 10,248 |   | $ | — |   | $ | — |   | $ | — |   | $ | — |   |
| Total   Fixed Charges                                                                                              |       | $                                | 9,978      |                                        | $          | 26,011 |   | $ | 6,060 |   | $ | 2,717 |   | $ | 3,096 |   | $ | 1,233 |   |
|                                                                                                               |       |                             |       |                                        |       |   |   |   |   |   |   |   |   |
| Loss   Before Taxes and Non-controlling Interest                                                                   |       | $                                | (17,973    | )                                           | $          | (77,108 | ) | $ | (22,128 | ) | $ | (15,633 | ) | $ | (11,109 | ) | $ | (5,916 | ) |
| Fixed   Charges (Calculated Above)                                                                                 |       | $                                | 9,978      |                                        | $          | 26,011 |   | $ | 6,060 |   | $ | 2,717 |   | $ | 3,096 |   | $ | 1,233 |   |
| Earnings                                                                                                           |       | $                                | (7,995     | )                                           | $          | (51,097 | ) | $ | (16,068 | ) | $ | (12,916 | ) | $ | (8,013 | ) | $ | (4,683 | ) |
|                                                                                                               |       |                             |       |                                        |       |   |   |   |   |   |   |   |   |
| **Ratio of Earnings to Fixed Charges with Preferred Dividend   (1)**                                               | ** ** | **—**                       | **(7)**    | **—**                                  | **(6)**    | **—** | **(5)** | **—** | **(4)** | **—** | **(3)** | **—** | **(2)** |

 

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| (1)    | For purposes of   determining the ratio of earnings to fixed charges, earnings are defined as   income from continuing operations before income taxes and non-controlling interest,   plus fixed charges and amortization of         |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                 |
|   | capitalized interest,   less capitalized interest. Fixed charges consist of interest incurred   (whether expensed or capitalized), amortization of deferred financing costs   and an estimate of the interest within rental expense. |
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|   | All reported periods of   the calculation of the ratio of earnings to fixed charges exclude   discontinued operations.                                                                                                               |
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| (2)    | Earnings were inadequate   to cover fixed charges for the year ended December 31, 2007 by $5.9   million                                                                                                                        |
|   |                                                                                                                                                                                                                                 |
| (3)    | Earnings were inadequate   to cover fixed charges for the year ended December 31, 2008 by $11.1   million                                                                                                                       |
|   |                                                                                                                                                                                                                                 |
| (4)    | Earnings were inadequate   to cover fixed charges for the year ended December 31, 2009 by $15.6   million                                                                                                                       |
|   |                                                                                                                                                                                                                                 |
| (5)    | Earnings were inadequate   to cover fixed charges for the year ended December 31, 2010 by $22.1   million                                                                                                                       |
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| (6)    | Earnings were inadequate   to cover fixed charges for the year ended December 31, 2011 by $77.1   million                                                                                                                       |
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| (7)    | Earnings were inadequate   to cover fixed charges for the three months ended March 31, 2012 by   $18.0 million                                                                                                                  |

 

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