Parker Terminates Deal
September 17, 1999
Parker Drilling Company and Superior Energy Services, Inc., have jointly agreed to terminate their merger agreement, in which Parker was to acquire Superior in an exchange of stock.
In connection with the termination, Superior will make a cash payment to Parker in settlement of certain obligations under the merger agreement.
Superior, in Harvey, La., provides oilfield tool rentals, well plug and abandonment services, and other specialized products to companies operating in the Gulf of Mexico and Gulf Coast regions. Parker, in Tulsa, Okla., is an international provider of offshore and on-land drilling services and oilfield tool rentals.
Related News
Oil Spill Contained After Barge Slams Bridge in Galveston
No Shortage of Good Ideas to Address the Mariner Shortage
US Says Warship Intercepted Houthi Missile, Merchant Vessel Untouched
Gulf Intercoastal Waterway Closed After Barge Strikes Bridge in Galveston
Van Oord Launches Giant Offshore Wind Installation Vessel