<TABLE>
                                 EXHIBIT 11.1



                             SNYDER OIL CORPORATION
                    COMPUTATION OF NET INCOME (LOSS) PER SHARE
               FOR THE YEARS ENDED DECEMBER 31, 1993, 1994 AND 1995
                      (In thousands except per share data)

<CAPTION>
                                                            Year Ended December 31,
                                                       --------------------------------
                                                          1993       1994       1995
                                                        --------   --------   --------
<S>                                                     <C>        <C>       <C>
Income (loss) before extraordinary item                 $22,538    $12,372   $(39,831)
Extraordinary item-early extinguishment of debt          (2,993)       -          -
                                                        --------   --------   --------
Net income (loss)                                        19,545     12,372    (39,831)
Dividends on preferred stock                             (9,100)   (10,806)    (6,210)
                                                        --------   --------   --------
     Net income (loss) available to common              $10,445    $ 1,566   $(46,041)
                                                        ========   ========  =========

Weighted average shares outstanding                      23,096     23,704     30,186
Add common stock equivalents                             10,356     11,706      5,019
                                                        --------   --------  --------- 
     Weighted average common stock
      and equivalents outstanding                        33,452     35,410     35,205
                                                        ========   ========   ========

Primary net income (loss) per share:

Income (loss) before extraordinary item                 $   .97    $   .52   $  (1.32)
Extraordinary item-early extinguishment of debt            (.13)       -          -
                                                        --------   --------   --------
Net income (loss)                                           .84        .52      (1.32)
Dividends on preferred stock                               (.39)      (.45)      (.21)
                                                        --------   --------   --------
     Net income (loss) available to common              $   .45    $   .07    $ (1.53)
                                                        ========   ========   ========

Fully diluted net income (loss) per share:

Income (loss) before extraordinary item                 $   .67    $   .35     $(1.13)
Extraordinary item-early extinguishment of debt            (.09)       -          -
                                                        --------   --------   --------
Net income    (loss)                                        .58        .35      (1.13)
Dividends on preferred stock                                -          -          -
                                                        --------   --------   --------
     Net income (loss) available to common              $   .58    $   .35     $(1.13)
                                                        ========   ========   ========
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