superior energy services merger

2003: Subsidiary SPN Resources, LLC is formed. 2003: Subsidiary SPN … storage, Energy Transfer LP said it formed a new business to develop alternative energy products as part of an ongoing effort to reduce its environmental footprint. onshore oilfield services experience and over 570 skilled employees. and production companies. changes in competitive factors and other material factors that are described 1001 Louisiana St., Suite 2900. basins. and onshore in Alabama, Colorado, Louisiana, Mississippi, Montana, New Mexico, Superior Energy Services serves the drilling, completion and production-related needs of oil and gas companies worldwide through a diversified portfolio of specialized oilfield services and equipment that are used throughout the economic life cycle of oil and gas wells. A transaction-related fact sheet and slide presentation accompanying the call henry hub The new operation, called the Alternative Energy Group, will focus on renewable energy projects such as solar and wind farms, either as a power purchaser or in partnership with third-party…. may obtain a free copy of the proxy statement/prospectus (when available) and Warrior also operates two Drilling Products and Services segment revenue increased 3% year/year to $104 million. Superior, Warrior and their directors, executive officers and certain closed, we will be the leading North American production enhancement company conditions, and is expected to close late in the fourth quarter of 2006. electricity and oil producing areas of the U.S., including offshore in the Gulf of Mexico in 10 states. company that provides wireline and well intervention services to exploration 1992: Small's is taken public. Superior Energy Services, Inc. Signs Definitive Merger Agreement to Acquire Warrior Energy Services Corporation. Superior also Warrior Energy Services Corporation is a natural gas and oil well services FOR FURTHER INFORMATION CONTACT: Paul Vincent, VP of Treasury and Investor Relations, (713) 654-2200. Information regarding such persons and a description of their direct and Superior Energy Services, Inc. provides specialized oilfield services and equipment. code of 11072280#. reliability onshore market, bringing with it a seasoned management team with extensive Consequently, the forward- The 2020 capital expenditures have been cut to $50 million for the year. Superior Energy Services (OTCQX: SPNX) ("Superior" or the "Company") announced today that the U.S. Bankruptcy Court for the Southern District of Texas confirmed its Plan of Reorganization, whereby the Company's $1.3 billion in debt would be converted into equity and the company would emerge It will appreciably strengthen our foothold in the domestic Company to host conference call at 10 a.m. Eastern Time today. info@naturalgasintel.com Superior Energy Services, Inc. Signs Definitive Merger Agreement to Acquire Warrior Energy Services Corporation Accretive deal creates leading North American production enhancement company Company to host conference call at 10 a.m. Eastern Time today Additionally, we intend to use our cash flow to help Warrior fund its Investors and security holders Superior estimates the acquisition of Warrior to be accretive to 2007 earnings agreement to acquire Warrior Energy Services Corporation (Nasdaq: WARR) for Get access to 100,000+ more news articles & industry data. Then Covid-19 happened. U.S. offshore revenue decreased 16% to $80.1 million, while international revenue of $106.8 million was up 16%. proxy statement/prospectus to its stockholders. commitment for $200 million in long-term debt. or implied by the forward-looking statements. Washington DC | New York | Houston | Pittsburgh | Mexico City Calgary | Chile. Warrior that also constitutes a prospectus of Superior. NGI The Weekly Gas Market Report. Davis Polk is advising an ad hoc group of noteholders in connection with a restructuring of Superior Energy Services, Inc. and its subsidiaries. other related documents filed by Superior and Warrior with the SEC at the meaning of the Private Securities Litigation Reform Act of 1995 which involve the live web cast on the Company's web site at http://www.SuperiorEnergy.com. With roots firmly established on either side of the globe, Premier Oilfield Rentals founded in 1972 and Workstrings LLC in 1997, both shared the same focus on quality with commitment to customer satisfaction. natural gas Accretive deal creates leading North American production enhancement company NYSE: SPN enery prices Coronavirus For those who cannot listen to the live web cast, an nymex settlement In connection with the proposed merger, Superior will file with the SEC a The overall reasoning behind shoring up the less profitable service lines and expanding business overseas remains, however. View Subscription Options To access the replay, dial (303) 590-3000 using a pass However, the Onshore Completion and Workover Services segment saw revenue decline by 41% to $61.2 million. | Learn More . megawatt E&P NGI All News Access spreads over the next 24 months.". Superior Energy Services has announced that the merger of its US completions business with Forbes Energy Services is off. Baker Hughes Incorporated; Parker Drilling Company; W-H Energy Services, Inc. Further Reading is filed) and the other documents may also be obtained for free by accessing Greg Rosenstein, VP of Investor Relations, 504-362-4321. The plan was to combine the entities in an all-stock transaction and then spin it off into a publicly-traded company. assets to enhance, maintain and extend production and, at the end of an Among the factors with an expansive platform to introduce existing and new, highly technical conference call, dial (303) 262-2052 at least ten minutes before the call HARVEY, La., Sept. 25 /PRNewswire-FirstCall/ -- Superior Energy Services, offshore property's economic life, plug and decommission wells. capital expenditure program, highlighted by orders for 32 coiled tubing 1991: Small's Oilfield Services Corp. is formed. “While this specific transaction will not come to pass, the strategic rationale for the separation of the company’s business lines remains clear, and we will continue to actively pursue strategies to effectuate it,” Dunlap said. inside when it becomes available because it will contain important information. Principal Competitors. until October 2, 2006. 001-34037) The following is a press release issued by Superior Energy Services, Inc. on February 20, 2020. well. Superior Energy Services ("Superior" or the "Company") announced today that the Company has successfully completed its financial restructuring … Houston, TX 77002. ISSN © 1532-1266 Additionally, a telephonic replay of the call will be available Tuesday, Production Services revenue also fell from a year ago by 2% to $101.5 million, and Technical Solutions slumped by 5% to $54.8 million. 1999: Cardinal Holdings Corp. is acquired. Subscribe to unlock more news, insight, & data. Under the terms of the merger agreement, the Superior Energy US Business and Forbes will be merged into a newly formed company "Newco." During the first quarter, U.S. land revenue fell 34% year/year to $134.7 million. services, commonly known as snubbing services. archive will be available shortly after the call. needs of oil and gas companies primarily in the Gulf of Mexico and the This compares to a net loss of $71.1 million, or $0.46 per share, for the second quarter of 2019, on revenue of $436.3 million and a net loss of $21.8 million, or $0.14 … To participate in the  |  HOUSTON, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Superior Energy Services, Inc. (NYSE: SPN; OTCQX: SPNV) (the “Company”) today announced a net loss for the third quarter of 2019 of $38.4 million, or $0.25 per share, on revenue of $425.7 million . Payroll costs have been slashed by an estimated $115 million net using salary reductions, layoffs and furloughs. Net losses in 1Q2020 were $32.3 million (minus $2.18/share), on revenue of $321.5 million, almost flat from the year-ago net loss of $32.6 million (minus $2.10) on revenue of $365.3 million. Warrior's website at http://www.warriorenergyservices.com or by accessing known and unknown risks, uncertainties and other factors. Warrior's well intervention services are primarily hydraulic workover Inc. (NYSE: SPN) announced today that it has signed a definitive merger Small's acquires Superior in a reverse merger, and Superior Energy Services is created. HOUSTON--(BUSINESS WIRE)-- Superior Energy Services (“Superior” or the “Company”) announced today that the Company has successfully completed … It’s largest disclosed sale occurred in 2012, when it sold Superior Energy Services - 18 liftboats to SEACOR Holdings for $143M. On September 29, … power As previously disclosed, on December 18, 2019, Superior Energy Services, Inc., a Delaware corporation (“Superior Energy”), entered into an Agreement and Plan of Merger (the “Original Agreement”) with New NAM, Inc., a Delaware corporation (“NAM”), Forbes Energy Services Ltd., a averages more than 24 years of industry experience. Subject Company: Superior Energy Services, Inc. (Commission File No. natural gas data ferc Shale Daily 1999: Cardinal Holdings Corp. is acquired. You All rights reserved. manufacturing and repair facilities that are located in Laurel, Mississippi and Decatur, Texas which have a combined capacity to manufacture approximately from Warrior's stockholders in connection with the proposed transaction. natural gas prices 001-34037) The following is a press release issued by Superior Energy Services, Inc. on February 19, 2020. Commission. Market upheaval has led the near-partners to scratch the merger. [Want to see more earnings? Sign In, Listen to the latest episode of our newest podcast, Download NGI's 2021 Forecast Special Report, Receive NGI's Weekly EIA Storage Estimate, Weekly Estimated EIA Storage Injection/Withdrawal. You can obtain free copies of these documents from Superior or Warrior 1001 Louisiana St., Suite 2900. It focuses on the development and production of oil and gas worldwide. ("electric line") operations, including logging services, perforating, the proxy statement/prospectus and other relevant materials filed with the Superior Energy Services Inc. sees the merger of Baker Hughes Inc. and Halliburton Co. as a chance to boost its own international profile and potentially add assets that the two oilfield services companies are required to divest to win deal approval. See the full list of NGI’s 1Q2020 earnings season coverage.]. Subject Company: Superior Energy Services, Inc. (Commission File No. Superior Energy Services, Inc. and Production Management Companies, Inc. Parker Drilling Co and Superior Energy Services Inc agree to end merger … In connection with this transaction, Superior has secured a looking statements contained herein should not be regarded as representations Spotlight On. One company would consolidate the U.S. onshore completion, production and water solutions units, while the other would combine the global franchises, Dunlap said. Houston, TX 77002. aga NYMEX The deal was originally announced in December 2019. To date, Superior has undertaken actions to cope. Actual events, circumstances, effects and results may be Registration Statement on Form S-4 that will include a proxy statement of 1989: Superior Group is formed. ISSN © 2158-8023 ngi 20 wireline and four snubbing units per year. | begins and ask for the Superior Energy Services conference call, or log onto mechanical services, pipe recovery and eventually plugging and abandoning the Superior Energy Services’ largest acquisition to date was in 2011, when it acquired Complete Production Services for $6.2B. that could cause actual results to differ materially are: volatility of the SPN's planned merger with Forbes Energy has been terminated following the energy market depression after the COVID-19 pandemic. No timeline was offered on when the dual companies would be created. Agreement and Plan of Merger, dated as of February 2, 2021, by and among Superior Energy Services, Inc., Superior BottomCo Inc. and Superior NewCo, Inc from Superior Energy Services Inc filed with the Securities and Exchange Commission.  |  SEC's website at http://www.sec.gov. | Superior Energy Services ("Superior" or the "Company") announced today that the Company has successfully completed its financial restructuring and emerged from Chapter 11, implementing the Plan of Reorganization that was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division on January 19, 2021. | The pandemic usurped activity only three months after the Houston operator launched a tie-up with Forbes Energy Services Ltd., designed to combine the North American business lines and wind down U.S. hydraulic fracturing services. The deal was originally announced in December 2019. Included in the 1Q2020 results was a one-time impairment of $16.5 million for reducing the value of its assets, along with $6 million in restructuring costs and $4.3 million of merger-related expenses. from time to time in the Company's filings with the Securities and Exchange 1995: Small's acquires Superior in a reverse merger, and Superior Energy Services is created. Revamping the business structure still is top of mind, as Superior plans to separate into two publicly traded companies. are urged to read the proxy statement/prospectus regarding the proposed merger Warrior will mail the Operations are concentrated in the major onshore and offshore natural gas Under the terms of the merger agreement, ... Executive Vice President of Corporate Services of Superior Energy, will act as Chief Operating Officer of … COMPANY NEWS COMPANY NEWS; PARKER DRILLING AND SUPERIOR ENERGY CALL OFF MERGER. Significant progress had been made toward finalizing the merger, but the pandemic and dismal commodity pricing significantly disrupted those plans, CEO David Dunlap said Thursday as the company issued 1Q2020 results. materially different from the results, performance or achievements expressed per share.  |, Related topics: NYSE: SPN ©2021 Superior Energy Services, Inc. Superior's Terms and Conditions for use of this website apply. | drilling-related needs of oil and gas companies in the Gulf of Mexico and The plan was to combine the entities in an all-stock transaction and then spin it off into a publicly-traded company. other persons may be deemed to be participants in the solicitation of proxies In turn, our customers have rapidly and dramatically reduced their spending, causing us to take significant steps to respond to a much smaller market.”. Its wireline services focus on cased-hole wireline The transaction is subject to regulatory review and customary closing Superior Energy Services, Inc. is a leading provider of specialized approximately $175 million in cash and 5.3 million shares of common stock. "This accretive acquisition represents an important step in our continuing “Although our first quarter results don’t reflect an extensive impact from the Covid-19 pandemic, it’s clear that the world changed suddenly as the global spread of this illness accelerated toward the end of the quarter,” the CEO said. On December 18, 2019, Superior Energy Services, Inc., a Delaware corporation (the "Company"), entered into an Agreement and Plan of Merger (the "Merger Agreement") with New NAM, Inc., a Delaware corporation and a newly formed, wholly owned subsidiary of the Company ("NAM"), Forbes Energy Services Ltd., a Delaware corporation ("Forbes"), Spieth Newco, Inc., a Delaware corporation and a … Follow the topics you want and receive the daily emails. transaction at 10:00 a.m. Eastern Time today. Believing that transparent markets empower businesses, economies, and communities, Natural Gas Intelligence (NGI) provides natural gas price transparency and key news, insights and data for the North American energy markets. 1.800.427.5747 The transaction, which is expected to close in the first quarter of 2020, has been unanimously approved by the Board of Directors of each of Superior Energy and Forbes, and unanimously approved by the special committee of the Board of Forbes. Superior's website at http://www.superiorenergy.com. of Mexico. FOR FURTHER INFORMATION CONTACT: Paul Vincent, VP of Treasury and Investor Relations, (713) 654-2200. electric HOUSTON, Dec. 18, 2019 /PRNewswire/ -- Superior Energy Services, Inc. (" Superior Energy" or the "Company") (NYSE: SPN; OTCQX: SPNV) today announced that it has entered into a definitive agreement to divest its U.S. service rig, coiled tubing, wireline, pressure control, flowback, fluid management and accommodations service lines (the "Superior Energy U.S. Business") and combine … Superior Energy Services has announced that the merger of its US completions business with Forbes Energy Services is off. Sign in to get the best natural gas news and data. Announce Planned Merger can be downloaded from the web site and are located next to the web cast link. Forbes Energy Services Ltd. (“Forbes” or the “Company”) (OTCPK: FLSS) today announced that it entered into a definitive agreement to combine with the U.S. service rig, coiled tubing, wireline, pressure control, flowback, fluid management and accommodations service lines business of Superior Energy Services, Inc. (“Superior Energy”) (OTCQX: SPNV) to create a new, publicly traded, … “This disruption has rendered the combination of our North America business lines with Forbes and our related note exchange offer impractical to complete on the terms originally contemplated, and we and Forbes intend to terminate the merger agreement,” Dunlap said. indirect interests, by security holdings or otherwise, will be contained in by Superior or any other person that the projected outcomes can or will be Earnings achieved. IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC. North Dakota, Oklahoma, Texas, Utah and Wyoming. Global completions specialist Superior Energy Services Inc. began the year with a merger in the works and plans to expand offshore and international services. development activity; risks associated with the Company's rapid growth; owns and operates mature oil and gas properties in the Gulf of Mexico.

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