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|----------------------------------------------------------------|
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|                                                           |   |   |   |   |   |   |   |   |   |   | Exhibit 12.1 |
|                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| PETROLEUM DEVELOPMENT CORPORATION                              |
| Statement of Computation of Ratio of Earnings to Fixed Charges |
|                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                           |   | Three Months |   |   |   |   |   |   |   |   |   |   |
|                                                           |   | Ended |   |   |   |   |   |   |   |   |   |   |
|                                                           |   | March 31, |   | Year Ended December 31, |
|                                                           |   | 2012 |   | 2011 |   | 2010 |   | 2009 |   | 2008 |   | 2007 (d) |
|                                                           |   |   |   | (dollars in thousands) |
| Earnings                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss ) from continuing operations before income taxes  |   | $ | 2,139 |  |   | $ | 2,895 |  |   | $ | 6,690 |  |   | $ | (125,172 | ) |   | $ | 163,168 |  |   | $ | 42,590 |  |
| Fixed charges (see below)                                      |   | 11,192 |  |   | 40,511 |  |   | 35,197 |  |   | 39,403 |  |   | 31,629 |  |   | 12,796 |  |
| Amortization of capitalized interest                           |   | 261 |  |   | 676 |  |   | 788 |  |   | 991 |  |   | 744 |  |   | 366 |  |
| Interest capitalized                                           |   | (265 | ) |   | (1,544 | ) |   | (301 | ) |   | (751 | ) |   | (2,618 | ) |   | (3,023 | ) |
| Total adjusted earnings (loss) available for fixed charges     |   | $ | 13,327 |  |   | $ | 42,538 |  |   | $ | 42,374 |  |   | $ | (85,529 | ) |   | $ | 192,923 |  |   | $ | 52,729 |  |
|                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed Charges                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest and debt expense (a)                                  |   | $ | 10,444 |  |   | $ | 36,985 |  |   | $ | 33,250 |  |   | $ | 37,208 |  |   | $ | 28,132 |  |   | $ | 9,279 |  |
| Interest capitalized                                           |   | 265 |  |   | 1,544 |  |   | 301 |  |   | 751 |  |   | 2,618 |  |   | 3,023 |  |
| Interest component of rental expense (b)                       |   | 483 |  |   | 1,982 |  |   | 1,646 |  |   | 1,444 |  |   | 879 |  |   | 494 |  |
| Total fixed charges                                            |   | $ | 11,192 |  |   | $ | 40,511 |  |   | $ | 35,197 |  |   | $ | 39,403 |  |   | $ | 31,629 |  |   | $ | 12,796 |  |
|                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio of Earnings to Fixed Charges                             |   | 1.2x |  |   | 1.1x |  |   | 1.2x |  |   | — |  | (c) | 6.1x |  |   | 4.1x |  |
|                                                           |   |   |   |   |   |   |   |   |   |   |   |   |

|     |                                                                                                     |
|-----|-----------------------------------------------------------------------------------------------------|
| (a) | Represents interest expense on long-term debt and amortization of debt discount and issuance costs. |

|     |                                                                                             |
|-----|---------------------------------------------------------------------------------------------|
| (b) | Represents the portion of rental expense which we believe represents an interest component. |

|     |                                                                                                                 |
|-----|-----------------------------------------------------------------------------------------------------------------|
| (c) | For the year ended December 31, 2009, earning were insufficient to cover total fixed charges by $124.9 million. |

|     |                                                                                                                                                                                                                                                                                   |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (d) | Total adjusted earnings available for fixed charges for the years ended December 31, 2007, has not been adjusted to reflect the divestiture of our Michigan and North Dakota assets groups, such adjustments would not materially impact the ration of earnings to fixed charges. |