<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 (loss) per share for each of
     the periods set forth in the Consolidated Statements of Operations and
                          Comprehensive Income (Loss).


<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 March 31, 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
                                                              90   2,009,091,358 / 90    22,323,237   8,931,000       0.40

Three months ended March 31, 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          5     129,587,820
                                                              90   2,324,705,406 /90    25,830,060   5,462,000        0.21

DILUTED

Three months ended March 31, 2001          25,822,909          2      51,645,818
                                           25,827,265         21     542,372,564
                                           25,828,090         34     878,155,059
                                           25,905,859          8     207,246,872
                                           25,927,193          1      25,927,193
                                           25,944,067          1      25,944,067
                                           25,951,615          1      25,951,615
                                           25,957,747          4     103,830,988
                                           25,958,747          2      51,917,494
                                           25,960,809          1      25,960,809
                                           25,963,284          5     129,816,420
                                           25,973,284          1      25,973,284
                                           25,976,996          5     129,884,980
                                           25,983,408          1      25,983,408
                                           25,987,945          1      25,987,945
                                           25,991,695          2      51,983,390
                                                              90   2,328,581,905 / 90   25,873,132   8,931,000        0.35
</Table>


<PAGE>

<Table>
<S>                                        <C>         <C>           <C>                 <C>            <C>        <C>
Three months ended March 31, 2002          27,426,826          2      54,853,653
                                           27,429,251          5     137,146,257
                                           27,432,551          2      54,865,103
                                           27,435,051          6     164,610,308
                                           27,463,849         16     439,421,589
                                           27,466,086          5     137,330,432
                                           27,467,736         10     274,677,363
                                           27,468,736          7     192,281,154
                                           27,469,149          3      82,407,448
                                           27,482,554          3      82,447,663
                                           27,486,369          1      27,486,369
                                           27,506,169          4     110,024,677
                                           27,507,169          1      27,507,169
                                           27,509,232          1      27,509,232
                                           27,511,913          4     110,047,653
                                           27,512,363          2      55,024,727
                                           27,541,870          5     137,709,352
                                           27,545,364          1      27,545,364
                                           27,547,014          7     192,829,100
                                           27,571,764          5     137,858,822
                                                              90   2,473,583,434 /90    27,484,260   5,462,000        0.20
</Table>