<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>
BASIC:

Three months ended            25,746,720          11           283,213,920
  September 30, 2001          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

Three months ended            26,181,679           2            52,363,358
  September 30, 2002:         26,184,154           6           157,104,924
                              26,233,654           9           236,102,886
                              26,336,017          12           316,032,204
                              26,336,267           9           237,026,403
                              26,345,144           2            52,690,288
                              26,624,431           1            26,624,431
                              26,759,017           6           160,554,102
                              26,759,254          20           535,185,080
                              26,764,254           1            26,764,254
                              26,765,554           4           107,062,216
                              26,767,554           1            26,767,554
                              26,769,554           1            26,769,554
                              26,772,929           6           160,637,574
                              26,774,404           5           133,872,020
                              26,849,446           1            26,849,446
                              26,900,520           6           161,403,120

                                                  92         2,443,809,414  /92         26,563,146          3,487,000       0.13

Nine months ended             22,273,014           2            44,546,028
  September 30, 2001          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
</TABLE>
<PAGE>

<TABLE>
<S>                           <C>             <C>            <C>                        <C>                  <C>          <C>
                              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

Nine months ended             25,772,626           2            51,545,252
  September 30, 2002:         25,775,051           5           128,875,255
                              25,778,351           2            51,556,702
                              25,780,851           6           154,685,106
                              25,809,649          16           412,954,384
                              25,811,886           5           129,059,430
                              25,813,536          10           258,135,360
                              25,814,536           7           180,701,752
                              25,814,949           3            77,444,847
                              25,828,354           3            77,485,062
                              25,832,169           1            25,832,169
                              25,851,969           4           103,407,876
                              25,852,969           1            25,852,969
                              25,855,032           1            25,855,032
                              25,857,713           4           103,430,852
                              25,858,163           2            51,716,326
                              25,887,670           5           129,438,350
                              25,891,164           1            25,891,164
                              25,892,814           7           181,249,698
                              25,917,564           6           155,505,384
                              25,925,194           1            25,925,194
                              25,925,606           1            25,925,606
                              25,928,844           1            25,928,844
                              25,930,144           1            25,930,144
                              25,932,344           3            77,797,032
                              25,935,344           9           233,418,096
                              25,936,344           1            25,936,344
                              25,938,094           6           155,628,564
                              25,938,519           1            25,938,519
                              25,943,019           1            25,943,019
                              26,051,884           3            78,155,652
                              26,060,340           1            26,060,340
                              26,063,052           2            52,126,104
                              26,064,427           6           156,386,562
                              26,065,727           5           130,328,635
                              26,066,227           3            78,198,681
                              26,066,977           1            26,066,977
                              26,114,491           4           104,457,964
                              26,115,816           8           208,926,528
                              26,119,941           2            52,239,882
                              26,121,179          12           313,454,148
                              26,121,329           5           130,606,645
                              26,121,929           1            26,121,929
                              26,142,197           6           156,853,182
                              26,143,847           6           156,863,082
                              26,143,847           1            26,143,847
                              26,181,679           1            26,181,679
                              26,184,154           6           157,104,924
                              26,233,654           9           236,102,886
                              26,336,017          12           316,032,204
                              26,336,267           9           237,026,403
                              26,345,144           2            52,690,288
                              26,624,431           1            26,624,431
                              26,759,017           6           160,554,102
                              26,759,254          20           535,185,080
                              26,764,254           1            26,764,254
                              26,765,554           4           107,062,216
                              26,767,554           1            26,767,554
                              26,769,554           1            26,769,554
                              26,772,929           6           160,637,574
                              26,774,404           5           133,872,020
                              26,849,446           1            26,849,446
                              26,900,520           6           161,403,120

                                                 273         7,139,612,225  / 273        26,152,426         12,954,000       0.50
</TABLE>
<PAGE>

<TABLE>
<S>                           <C>             <C>            <C>                        <C>                  <C>          <C>
DILUTED

Three months ended            27,425,222          10           274,252,220
  September 30, 2001          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

Three months ended            27,133,816           2            54,267,632
  September 30, 2002:         27,136,291           6           162,817,746
                              27,185,791           9           244,672,120
                              27,288,154          12           327,457,849
                              27,288,404           9           245,595,637
                              27,297,281           2            54,594,562
                              27,576,568           1            27,576,568
                              27,711,154           6           166,266,924
                              27,711,391          20           554,227,821
                              27,716,391           1            27,716,391
                              27,717,691           4           110,870,764
                              27,719,691           1            27,719,691
                              27,721,691           1            27,721,691
                              27,725,066           6           166,350,396
                              27,726,541           5           138,632,705
                              27,801,583           1            27,801,583
                              27,852,657           6           167,115,942

                                                  92         2,531,406,025  /92          27,515,283          3,487,000       0.13

Nine months ended             25,816,056           2            51,632,112
  September 30, 2001:         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
</TABLE>
<PAGE>

<TABLE>
<S>                           <C>             <C>            <C>                        <C>                  <C>          <C>
                              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

Nine months ended             26,816,848           2            53,633,696
  September 30, 2002:         26,819,273           5           134,096,364
                              26,822,573           2            53,645,146
                              26,825,073           6           160,950,437
                              26,853,871          16           429,661,933
                              26,856,108           5           134,280,539
                              26,857,758          10           268,577,578
                              26,858,758           7           188,011,305
                              26,859,171           3            80,577,512
                              26,872,576           3            80,617,727
                              26,876,391           1            26,876,391
                              26,896,191           4           107,584,763
                              26,897,191           1            26,897,191
                              26,899,254           1            26,899,254
                              26,901,935           4           107,607,739
                              26,902,385           2            53,804,770
                              26,931,892           5           134,659,459
                              26,935,386           1            26,935,386
                              26,937,036           7           188,559,251
                              26,961,786           6           161,770,715
                              26,969,416           1            26,969,416
                              26,969,828           1            26,969,828
                              26,973,066           1            26,973,066
                              26,974,366           1            26,974,366
                              26,976,566           3            80,929,697
                              26,979,566           9           242,816,092
                              26,980,566           1            26,980,566
                              26,982,316           6           161,893,895
                              26,982,741           1            26,982,741
                              26,987,241           1            26,987,241
                              27,096,106           3            81,288,317
                              27,104,562           1            27,104,562
                              27,107,274           2            54,214,548
                              27,108,649           6           162,651,893
                              27,109,949           5           135,549,744
                              27,110,449           3            81,331,346
                              27,111,199           1            27,111,199
                              27,158,713           4           108,634,851
                              27,160,038           8           217,280,302
                              27,164,163           2            54,328,326
                              27,165,401          12           325,984,810
                              27,165,551           5           135,827,754
                              27,166,151           1            27,166,151
                              27,186,419           6           163,118,513
                              27,188,069           6           163,128,413
                              27,188,069           1            27,188,069
                              27,225,901           1            27,225,901
                              27,228,376           6           163,370,255
                              27,277,876           9           245,500,882
                              27,380,239          12           328,562,866
                              27,380,489           9           246,424,399
                              27,389,366           2            54,778,732
                              27,668,653           1            27,668,653
                              27,803,239           6           166,819,433
                              27,803,476          20           556,069,516
                              27,808,476           1            27,808,476
                              27,809,776           4           111,239,103
                              27,811,776           1            27,811,776
                              27,813,776           1            27,813,776
                              27,817,151           6           166,902,905
                              27,818,626           5           139,093,129
                              27,893,668           1            27,893,668
                              27,944,742           6           167,668,451

                                                 273         7,424,684,780  /273         27,196,648          12,954,000      0.48
</Table>