1 EXHIBIT 11.1 APACHE CORPORATION AND SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE (In thousands, except per share data) For the Year Ended December 31, 1993 ----------------- Fully Primary Diluted ------- ------- Net income $37,334 $37,334 Assumed reduction of interest expense upon conversion of $75 million 3.93% convertible notes, net of tax - 2,145 ------- ------- Net income, as adjusted $37,334 $39,479 ======= ======= Weighted average common shares outstanding 53,534 53,534 Stock options; common stock equivalents outstanding using the treasury stock method - 242 Common shares issuable upon assumed conversion of 3.93% notes - 2,778 ------- ------- Common shares used for calculation of earnings per share 53,534 56,554 ======= ======= Earnings per share $ .70 $ .70 ======= =======