<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 June 30, 2001        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          8       205,973,760

                                                           91       2,087,455,052/91  22,939,067   11,627,000     0.51


Three months ended June 30, 2002        25,917,564          1        25,917,564
                                        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

                                                           91       2,371,135,237/91  26,056,431   4,005,000      0.15

Six months ended June 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
</Table>

<PAGE>
<Table>
<Caption>
                                                                                            AVERAGE                  INCOME/
                                                         DAYS                                SHARES      INCOME/   (LOSS) PER
                                          SHARES      OUTSTANDING   SHARES X DAYS         OUTSTANDING    (LOSS)      SHARE
<S>                                     <C>           <C>          <C>                    <C>           <C>        <C>
                                        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          8       205,973,760

                                                          181       4,096,546,410/181     22,632,853   20,558,000     0.91


Six months ended June 30, 2002          25,772,626          2        51,545,252
                                        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

                                                          181       4,695,840,643/181     25,943,871   9,467,000      0.36
</Table>
<PAGE>

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

Three months ended June 30, 2001        26,148,732         10       261,487,318
                                        26,173,556          1        26,173,556
                                        26,185,646          1        26,185,646
                                        26,192,621          4       104,770,483
                                        26,200,371          1        26,200,371
                                        26,203,179          1        26,203,179
                                        26,205,479          1        26,205,479
                                        26,208,366          1        26,208,366
                                        26,219,266          3        78,657,797
                                        26,220,266          4       104,881,063
                                        26,223,566          3        78,670,697
                                        26,224,566          1        26,224,566
                                        26,225,803          7       183,580,620
                                        26,228,278          1        26,228,278
                                        26,228,896          1        26,228,896
                                        26,252,408          1        26,252,408
                                        26,262,678          3        78,788,033
                                        26,270,103          1        26,270,103
                                        26,282,963          2        52,565,926
                                        26,298,525          1        26,298,525
                                        26,301,025          3        78,903,074
                                        26,303,525         10       263,035,248
                                        26,676,665          8       213,413,318
                                        26,678,165         13       346,816,143
                                        26,678,990          1        26,678,990
                                        27,721,348          8       221,770,784

                                                           91     2,408,698,866 /91   26,469,218    11,627,000     0.44

Three months ended June 30, 2002:       27,481,064          1        27,481,064
                                        27,488,694          1        27,488,694
                                        27,489,106          1        27,489,106
                                        27,492,344          1        27,492,344
                                        27,493,644          1        27,493,644
                                        27,495,844          3        82,487,533
                                        27,498,844          9       247,489,600
                                        27,499,844          1        27,499,844
                                        27,501,594          6       165,009,566
                                        27,502,019          1        27,502,019
                                        27,506,519          1        27,506,519
                                        27,615,384          3        82,846,153
                                        27,623,840          1        27,623,840
                                        27,626,552          2        55,253,105
                                        27,627,927          6       165,767,564
                                        27,629,227          5       138,146,137
                                        27,629,727          3        82,889,182
                                        27,630,477          1        27,630,477
                                        27,677,991          4       110,711,966
                                        27,679,316          8       221,434,531
                                        27,683,441          2        55,366,883
                                        27,684,679         12       332,216,153
                                        27,684,829          5       138,424,147
                                        27,685,429          1        27,685,429
                                        27,705,697          6       166,234,184
                                        27,707,347          6       166,244,084

                                                           91       2,513,413,775/91  27,619,932    4,005,000     0.15

Six months ended June 30, 2001          25,858,026          2        51,716,053
                                        25,862,382         21       543,110,029
                                        25,863,207         34       879,349,050
                                        25,940,976          8       207,527,811
                                        25,962,310          1        25,962,310
                                        25,979,184          1        25,979,184
                                        25,986,732          1        25,986,732
                                        25,992,864          4       103,971,457
                                        25,993,864          2        51,987,729
                                        25,995,926          1        25,995,926
                                        25,998,401          5       129,992,007
                                        26,008,401          1        26,008,401
                                        26,012,113          5       130,060,567
                                        26,018,525          1        26,018,525
                                        26,023,062          1        26,023,062
                                        26,026,812          2        52,053,625
                                        26,053,662         10       260,536,624
                                        26,078,486          1        26,078,486
                                        26,090,576          1        26,090,576
                                        26,097,551          4       104,390,205
                                        26,105,301          1        26,105,301
                                        26,108,109          1        26,108,109
                                        26,110,409          1        26,110,409
                                        26,113,296          1        26,113,296
                                        26,124,196          3        78,372,589
                                        26,125,196          4       104,500,785
                                        26,128,496          3        78,385,489
                                        26,129,496          1        26,129,496
                                        26,130,733          7       182,915,133
                                        26,133,208          1        26,133,208
                                        26,133,826          1        26,133,826
                                        26,157,338          1        26,157,338
                                        26,167,608          3        78,502,825
                                        26,175,033          1        26,175,033
                                        26,187,893          2        52,375,787
                                        26,203,455          1        26,203,455
                                        26,205,955          3        78,617,866
                                        26,208,455         10       262,084,554
                                        26,581,595          8       212,652,763
                                        26,583,095         13       345,580,240
                                        26,583,920          1        26,583,920
                                        27,660,133          8       221,281,067

                                                          181      4,732,060,854 /181 26,143,983    20,558,000    0.79

Six months ended June 30, 2002:         27,290,533          2        54,581,067
                                        27,292,958          5       136,464,792
                                        27,296,258          2        54,592,517
                                        27,298,758          6       163,792,550
                                        27,327,556         16       437,240,902
                                        27,329,793          5       136,648,967
                                        27,331,443         10       273,314,434
                                        27,332,443          7       191,327,104
                                        27,332,856          3        81,998,569
                                        27,346,261          3        82,038,784
                                        27,350,076          1        27,350,076
                                        27,369,876          4       109,479,506
                                        27,370,876          1        27,370,876
                                        27,372,939          1        27,372,939
                                        27,375,620          4       109,502,482
                                        27,376,070          2        54,752,141
                                        27,405,577          5       137,027,887
                                        27,409,071          1        27,409,071
                                        27,410,721          7       191,875,050
                                        27,435,471          6       164,612,828
                                        27,443,101          1        27,443,101
                                        27,443,513          1        27,443,513
                                        27,446,751          1        27,446,751
                                        27,448,051          1        27,448,051
                                        27,450,251          3        82,350,754
                                        27,453,251          9       247,079,263
                                        27,454,251          1        27,454,251
                                        27,456,001          6       164,736,008
                                        27,456,426          1        27,456,426
                                        27,460,926          1        27,460,926
                                        27,569,791          3        82,709,374
                                        27,578,247          1        27,578,247
                                        27,580,959          2        55,161,919
                                        27,582,334          6       165,494,006
                                        27,583,634          5       137,918,172
                                        27,584,134          3        82,752,403
                                        27,584,884          1        27,584,884
                                        27,632,398          4       110,529,594
                                        27,633,723          8       221,069,787
                                        27,637,848          2        55,275,697
                                        27,639,086         12       331,669,037
                                        27,639,236          5       138,196,182
                                        27,639,836          1        27,639,836
                                        27,660,104          6       165,960,626
                                        27,661,754          6       165,970,526

                                                          181       4,970,581,883/181    27,461,778   9,467,000      0.34
</Table>