EX-11.1 2 a2152711zex-11_1.htm EX-11.1
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 11.1

WESTERN GAS RESOURCES, INC.
COMPUTATION OF PER SHARE EARNINGS
DECEMBER 31, 2004

 
   Weighted
Average
Shares Of
Common
Stock
Outstanding
   Net
Income
   Earnings
Per Share
Of Common
Stock
Net income       $ 119,215,000      

Weighted average shares of common stock outstanding
 
72,419,980
 
 
 
 
 
 

Less preferred stock dividends:
 
 
 
 
 
 
 
 
  Special dividend on redemption of $2.625 cumulative convertible preferred stock         (46,423 )    
  $2.625 cumulative convertible preferred stock         (788,902 )    
   
 
     
    72,419,980   $ 118,379,675      
   
 
     

Basic earnings per share of common stock
 
 
 
 
 
 
$
1.63
             
Assume exercise of common stock equivalents   1,074,767     —      
  (Anti-dilutive common stock equivalents are not used in this calculation)   73,494,747   $ 118,379,675      
   
 
     
Fully diluted earnings per share of common stock             $ 1.61
             



QuickLinks