BURLINGTON RESOURCES INC. EARNINGS PER SHARE EXHIBIT 11.1 (UNAUDITED) FIRST QUARTER ---------------------------------------------------- 1997 1996 ----------------------- ------------------------- ---- Earnings Shares Earnings Shares -------- ---------- ---------- ------------ (Dollars in Millions, Except per Share Amounts) Primary earnings per common share Net earnings available for common stock and weighted average number of common shares outstanding .................................$ 110 124,750,874 $ 38 126,340,882 Stock options assumed exercised - net ................. - 534,591 - 401,011 -------- ----------- ---------- ----------- Total net earnings and primary common shares ..........$ 110 125,285,465 $ 38 126,741,893 ======== =========== ========== =========== Primary earnings per common share .....................$ .88 $ .30 ======== ========== Fully diluted earnings per common share Net earnings available for common stock and weighted average number of common shares outstanding .................................$ 110 124,750,874 $ 38 126,340,882 Stock options assumed exercised - net ................. - 535,363 - 444,218 -------- ----------- --------- ----------- Total net earnings and fully diluted common shares ....$ 110 125,286,237 $ 38 126,785,100 ======== =========== ========== =========== Fully diluted earnings per common share ...............$ .88 $ .30 ======== ========== 13