<PAGE>
                                                                   EXHIBIT 11.1

                           W-H Energy Services, Inc.

                    Statement Regarding Computation of Earnings Per Share

The following reflects the information used in calculating the number of shares
in the computation of net income per share for each of the periods set forth in
the Consolidated Statements of Operations and Comprehensive Income.


<Table>
<Caption>
                                                                                            AVERAGE                    INCOME/
                                                          DAYS                               SHARES      INCOME/     (LOSS) PER
                                            SHARES     OUTSTANDING  SHARES X DAYS          OUTSTANDING   (LOSS)         SHARE
<S>                                       <C>          <C>          <C>             <C>    <C>          <C>              <C>
BASIC:

Three months ended September 30, 2000     12,059,336        92      1,109,458,912    92    12,059,336   3,312,000        0.27

Three months ended September 30, 2001     25,746,720        11        283,213,920
                                          25,747,546         5        128,737,730
                                          25,748,396        18        463,471,128
                                          25,750,996         6        154,505,976
                                          25,751,396        43      1,107,310,028
                                          25,752,396         3         77,257,188
                                          25,757,789         6        154,546,734

                                                            92      2,369,042,704    92    25,750,464  12,441,000        0.48

Nine months ended September 30, 2000      12,058,212       273      3,291,891,876   273    12,058,212   1,882,000        0.16

Nine months ended September 30, 2001      22,273,014         2         44,546,028
                                          22,277,370        21        467,824,770
                                          22,278,195        34        757,458,630
                                          22,355,964         8        178,847,712
                                          22,377,298         1         22,377,298
                                          22,394,172         1         22,394,172
                                          22,401,720         1         22,401,720
                                          22,407,852         4         89,631,408
                                          22,408,852         2         44,817,704
                                          22,410,914         1         22,410,914
                                          22,413,389         5        112,066,945
                                          22,423,389         1         22,423,389
                                          22,427,101         5        112,135,505
                                          22,433,513         1         22,433,513
                                          22,438,050         1         22,438,050
                                          22,441,800         2         44,883,600
                                          22,468,650        10        224,686,500
                                          22,493,474         1         22,493,474
                                          22,505,564         1         22,505,564
                                          22,512,539         4         90,050,156
                                          22,520,289         1         22,520,289
                                          22,523,097         1         22,523,097
                                          22,525,397         1         22,525,397
                                          22,528,284         1         22,528,284
                                          22,539,184         3         67,617,552
                                          22,540,184         4         90,160,736
                                          22,543,484         3         67,630,452
                                          22,544,484         1         22,544,484
                                          22,545,721         7        157,820,047
                                          22,548,196         1         22,548,196
                                          22,548,814         1         22,548,814
                                          22,572,326         1         22,572,326
                                          22,582,596         3         67,747,788
                                          22,590,021         1         22,590,021
                                          22,602,881         2         45,205,762
                                          22,618,443         1         22,618,443
                                          22,620,943         3         67,862,829
                                          22,623,443        10        226,234,430
                                          22,996,583         8        183,972,664
                                          22,998,083        13        298,975,079
                                          22,998,908         1         22,998,908
                                          25,746,720        19        489,187,680
                                          25,747,546         5        128,737,730
                                          25,748,396        18        463,471,128
                                          25,750,996         6        154,505,976
                                          25,751,396        43      1,107,310,028
                                          25,752,396         3         77,257,188
                                          25,757,789         6        154,546,734

                                                           273      6,465,589,114   273    23,683,477  32,999,000        1.39
</Table>
<PAGE>
<Table>
<S>                                       <C>          <C>          <C>             <C>    <C>          <C>              <C>
DILUTED:

Three months ended September 30, 2000     15,773,182        92      1,451,132,744    92    15,773,182   3,312,000        0.21

Three months ended September 30, 2001     27,425,222        10        274,252,220
                                          27,426,048         5        137,130,240
                                          27,426,898        18        493,684,164
                                          27,429,498         6        164,576,988
                                          27,429,898        43      1,179,485,614
                                          27,430,898         3         82,292,694
                                          27,436,291         6        164,617,746

                                                            91      2,496,039,666    91    27,429,007  12,441,000        0.45

Nine months ended September 30, 2000      15,772,058       273      4,305,771,834   273    15,772,058   1,882,000        0.12

Nine months ended September 30, 2001      25,816,056         2         51,632,112
                                          25,820,412        21        542,228,652
                                          25,821,237        34        877,922,058
                                          25,899,006         8        207,192,048
                                          25,920,340         1         25,920,340
                                          25,937,214         1         25,937,214
                                          25,944,762         1         25,944,762
                                          25,950,894         4        103,803,576
                                          25,951,894         2         51,903,788
                                          25,953,956         1         25,953,956
                                          25,956,431         5        129,782,155
                                          25,966,431         1         25,966,431
                                          25,970,143         5        129,850,715
                                          25,976,555         1         25,976,555
                                          25,981,092         1         25,981,092
                                          25,984,842         2         51,969,684
                                          26,011,692        10        260,116,920
                                          26,036,516         1         26,036,516
                                          26,048,606         1         26,048,606
                                          26,055,581         4        104,222,324
                                          26,063,331         1         26,063,331
                                          26,066,139         1         26,066,139
                                          26,068,439         1         26,068,439
                                          26,071,326         1         26,071,326
                                          26,082,226         3         78,246,678
                                          26,083,226         4        104,332,904
                                          26,086,526         3         78,259,578
                                          26,087,526         1         26,087,526
                                          26,088,763         7        182,621,341
                                          26,091,238         1         26,091,238
                                          26,091,856         1         26,091,856
                                          26,115,368         1         26,115,368
                                          26,125,638         3         78,376,914
                                          26,133,063         1         26,133,063
                                          26,145,923         2         52,291,846
                                          26,161,485         1         26,161,485
                                          26,163,985         3         78,491,955
                                          26,166,485        10        261,664,850
                                          26,539,625         8        212,317,000
                                          26,541,125        13        345,034,625
                                          26,541,950         1         26,541,950
                                          27,558,685        19        523,615,015
                                          27,559,511         5        137,797,555
                                          27,560,361        18        496,086,498
                                          27,562,961         6        165,377,766
                                          27,563,361        43      1,185,224,523
                                          27,564,361         3         82,693,083
                                          27,569,754         6        165,418,524

                                                           273      7,259,731,880   273    26,592,424  32,999,000        1.24
</Table>