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Superior Energy Services Inc News

23 May 2013

New Subsea Snubbing Unit Safer, Optimizes Rig-Time

Rig Assist Unit Delivery: Photo credit Superior Energy Services

Balance Point Control Ltd. (BPC), a Superior Energy Services, Inc. company, has developed the Concentric Snubbing Unit- 160 (CSU – 160) rig assist snubbing unit. According to BPC their new CSU-160 is the first fully remote-operated snubbing unit on the market. Furthermore, BPC built a complete Zone-1 electric-driven hydraulic powerpack with four separate drive banks to set a new safety standard in the industry as this minimizes personnel exposure to pressurized hydraulic lines.

20 May 2010

Groundbreaking $110m, DP3 “CSS” Vessel Ordered

Hallin Marine has commissioned a new, $110m, groundbreaking semi-submersible, subsea operations vessel to be named the CSS Derwent. “The CSS (compact semi submersible) delivers big ship capability in a low cost package,” said John Giddens, Hallin’s CEO. “It will support the oil operators’ desire to improve production and reduce costs.” The 84 m CSS is the culmination of a five-year project designed to deliver ‘large boat capability’ at a price of a much smaller vessel with a primary focus on light well intervention.

29 Apr 2010

Superior Energy Services Q1 2010 Results

Superior Energy Services, Inc. (NYSE:SPN) announced net income of $21.5 million and diluted earnings per share of $0.27 on revenue of $364.5 million for the first quarter of 2010, as compared with net income of $56.8 million, or $0.72 diluted earnings per share on revenue of $437.1 million for the first quarter of 2009. Terence Hall, Chairman and CEO of Superior, commented, "While our earnings are below year-ago levels, our financial and operational results are much improved from the fourth quarter of 2009, which is encouraging, especially since the first quarter is typically a seasonally weak period. The company also reaffirms its previously announced full-year 2010 earnings guidance of $1.50 to $1.70 earnings per share.

14 Dec 2009

Superior Energy Acquires Hallin Marine Subsea

Superior Energy Services, Inc. announced that it has entered into an Implementation Agreement with Hallin Marine Subsea International Plc (AIM: HMS), to acquire Hallin for a price of 233 pence in cash per Hallin share. The offer values Hallin's existing issued and to be issued fully diluted ordinary share capital at approximately 103.5 million pounds sterling (approximately $168.3m based upon an exchange rate of $1.626, at the close of business on December 10, 2009). Hallin is an international provider of integrated subsea services and engineering solutions, focused on installing, maintaining and extending subsea wells. Hallin operates in most international offshore oil and gas markets with major offices and facilities located in Singapore…

03 Mar 2008

Superior Energy Services Names Executive VP

Superior Energy Services, Inc. announced that William B. Masters has been named Executive Vice President and General Counsel. Masters, age 50, joins Superior following a 26-year career with the law firm of Jones, Walker, Waechter, Poitevent, Carrère & Denègre L.L.P. During his tenure, Mr. Masters worked with Superior as general counsel for 13 years. Mr. Masters has a broad business practice in the areas of corporate finance, mergers and acquisitions, and energy and has extensive experience in public and private offerings of debt and equity securities. Masters earned his bachelor’s degree at Tulane University and his Juris Doctorate degree from George Washington University.

08 Jan 2008

Superior Energy Appoints New Executives

Superior Energy Services, Inc. announced that Patrick Zuber has been appointed Executive Vice President, International Sales, and Charles Hardy has been named Executive Vice President, Marine Services. Mr. Zuber resides in Dubai. During the past 12 years he held various international business development positions at major oilfield service companies. Mr. Zuber has also served in a range of management, business development, and engineering positions for both service and exploration and production companies over his career that spans more than 25 years.

21 Nov 2000

Bollinger To Build Two Liftboats For Cardinal Services

Bollinger Shipyards, Lockport, La., has signed a contract to build two 245-ft. (74.6 m) class liftboats for Cardinal Services, a subsidiary of Superior Energy Services, Inc., Harvey, La. Construction will begin at Bollinger Marine Fabricators, Inc., Amelia, La. this month with deliveries scheduled for February 2002 and June 2002. The liftboats, which will be able to operate in water depths of up to 180-ft., will expand Superior's fleet from 49 to 51. Superior owns and operates the largest and most diverse liftboat fleet in the world. The 245-ft. (74.6 m) class liftboats will be 141 ft. (42.9 m), with molded hulls of 67 ft. (20.4 m) and hull depths of 13 ft. (3.9 m). Their 6,550 sq. ft. deck capacities will be over 1 million lbs.

14 Dec 2000

Bollinger To Build Two Liftboats For Cardinal Services

Bollinger Shipyards, Lockport, La., has signed a contract to build two 245-ft. (74.6 m) class liftboats for Cardinal Services, a subsidiary of Superior Energy Services, Inc., Harvey, La. Construction will begin at Bollinger Marine Fabricators, Inc., Amelia, La. this month with deliveries scheduled for February 2002 and June 2002. The liftboats, which will be able to operate in water depths of up to 180-ft., will expand Superior's fleet from 49 to 51. Superior owns and operates the largest and most diverse liftboat fleet in the world. The 245-ft. (74.6 m) class liftboats will be 141 ft. (42.9 m), with molded hulls of 67 ft. (20.4 m) and hull depths of 13 ft. (3.9 m). Their 6,550 sq. ft. deck capacities will be more than 1 million lbs.

11 Jun 2002

Bollinger Delivers First of Two Large Liftboats

Bollinger Shipyards, Inc., Lockport, La., has delivered the SUPERIOR STORM, the first of two nearly identical Bollinger designed 245-foot class liftboats being built at Bollinger Marine Fabricators, Inc., Amelia, La. for Superior Energy Services, Inc., Harvey, La. With leg lengths of more than 230-feet, SUPERIOR STORM can operate in water depths to 180-feet, and is equipped with a 250-ton capacity crane. The SUPERIOR STORM is 141-feet in length, with a molded hull beam of 67-feet and hull depth of 13-ft. It has 6,550 sq. ft. of useable deck space and a cargo lifting capacity of 1 million pounds. The boat’s secondary crane has a capacity of 30 tons. Air-conditioned accommodations have been provided for 42 people.

04 Oct 2007

Superior Energy Opens Office in Singapore

Harvey, La.-based Superior Energy Services Inc. announced it has opened an office in Singapore to serve as a base of operations for the company’s marine and rental division. Superior is a provider of rental tools, production-related services and liftboats to the oil and gas industry.

27 Sep 2007

Superior Energy Services Inc. Opens Singapore Office

Superior Energy Services Inc. (NYSE: SPN) announces it has opened a new location in Singapore to serve as a base of operations for Superior Energy Services’ Marine Division, HB Rentals and Premier Oilfield Rentals and to be a resource for any Superior employee traveling through the region. This development is in line with Superior’s commitment to the development of international markets.

31 Jan 2007

Superior Energy Services Acquires Duffy & McGovern

Duffy & McGovern Accommodation Services has been acquired by US oilfield services firm Superior Energy Services Inc. The $47m deal sees Superior Energy Services continue its international expansion and complement its existing accommodation subsidiary HB Rentals, which is headquartered in Broussard, La. and provides accommodation and accessories to oil and gas companies in Oklahoma, Texas, the Rocky Mountains, Gulf of Mexico and Trinidad. As a result of the deal, Duffy & McGovern, which is headquartered in Aberdeen, Scotland and whose staff and management team will all remain in position, will be investing some US$15 million (UK£7.6 million) with immediate effect to accelerate its fleet growth.

18 Jan 2007

Superior Acquires Warrior Energy

Superior Energy Services Inc. completed the acquisition of Warrior Energy Services Corporation, a natural gas and oil well services company. Under the agreement, which was approved by Warrior’s stockholders at a special meeting, Superior has acquired Warrior for approximately $175 million in cash and 5.3 million shares of common stock.

23 Sep 1999

Parker Terminates Deal

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.

17 Sep 1999

Parker Terminates Deal

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.