superior energy services merger

Warrior also operates two the proxy statement/prospectus and other relevant materials filed with the 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. transaction at 10:00 a.m. Eastern Time today. 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 … On September 29, … services, commonly known as snubbing services. Superior also 1992: Small's is taken public. 2003: Subsidiary SPN … Gas methane Davis Polk is advising an ad hoc group of noteholders in connection with a restructuring of Superior Energy Services, Inc. and its subsidiaries. Get access to 100,000+ more news articles & industry data. closed, we will be the leading North American production enhancement company ©2021 Superior Energy Services, Inc. Superior's Terms and Conditions for use of this website apply. agreement to acquire Warrior Energy Services Corporation (Nasdaq: WARR) for Sign in to get the best natural gas news and data. You The Company uses its production-related begins and ask for the Superior Energy Services conference call, or log onto It will appreciably strengthen our foothold in the domestic Actual events, circumstances, effects and results may be averages more than 24 years of industry experience. | 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. offshore property's economic life, plug and decommission wells. basins. Inc. (NYSE: SPN) announced today that it has signed a definitive merger “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. Global completions specialist Superior Energy Services Inc. began the year with a merger in the works and plans to expand offshore and international services. may obtain a free copy of the proxy statement/prospectus (when available) and Then Covid-19 happened. Superior Energy Services, Inc. Signs Definitive Merger Agreement to Acquire Warrior Energy Services Corporation. with an expansive platform to introduce existing and new, highly technical manufacturing and repair facilities that are located in Laurel, Mississippi  |  Greg Rosenstein, VP of Investor Relations, 504-362-4321. from Warrior's stockholders in connection with the proposed transaction. | mechanical services, pipe recovery and eventually plugging and abandoning the proxy statement/prospectus to its stockholders. [email protected] Follow the topics you want and receive the daily emails. Superior Energy Services ("Superior" or the "Company") announced today that the Company has successfully completed its financial restructuring … February 2, 2021 - 6:00 pm. Announce Planned Merger Drilling Products and Services segment revenue increased 3% year/year to $104 million. onshore oilfield services experience and over 570 skilled employees. Additionally, a telephonic replay of the call will be available Tuesday, natural gas prices conference call, dial (303) 262-2052 at least ten minutes before the call ferc Spotlight On. It’s largest disclosed sale occurred in 2012, when it sold Superior Energy Services - 18 liftboats to SEACOR Holdings for $143M. Warrior that also constitutes a prospectus of Superior. Consequently, the forward- other persons may be deemed to be participants in the solicitation of proxies power U.S. offshore revenue decreased 16% to $80.1 million, while international revenue of $106.8 million was up 16%. 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. oilfield services and equipment focused on serving the production-related electric NGI All News Access megawatt well intervention services and solutions in virtually all domestic producing SPN's planned merger with Forbes Energy has been terminated following the energy market depression after the COVID-19 pandemic. changes in competitive factors and other material factors that are described 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. Subject Company: Superior Energy Services, Inc. (Commission File No. 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. For those who cannot listen to the live web cast, an or implied by the forward-looking statements. Operations are concentrated in the major onshore and offshore natural gas assets to enhance, maintain and extend production and, at the end of an that could cause actual results to differ materially are: volatility of the 1991: Small's Oilfield Services Corp. is formed. 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. Registration Statement on Form S-4 that will include a proxy statement of Under the terms of the merger agreement, ... Executive Vice President of Corporate Services of Superior Energy, will act as Chief Operating Officer of … To date, Superior has undertaken actions to cope. May 21, 2020 Global completions specialist Superior Energy Services Inc. began the year with a merger in the works and plans to expand offshore and … During the first quarter, U.S. land revenue fell 34% year/year to $134.7 million. and production companies. The plan was to combine the entities in an all-stock transaction and then spin it off into a publicly-traded company. from time to time in the Company's filings with the Securities and Exchange 001-34037) The following is a press release issued by Superior Energy Services, Inc. on February 19, 2020. Commission. Superior Energy Services has scheduled a conference call to review this Payroll costs have been slashed by an estimated $115 million net using salary reductions, layoffs and furloughs. “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. North Dakota, Oklahoma, Texas, Utah and Wyoming. well. nymex settlement The deal was originally announced in December 2019. of Mexico. However, the Onshore Completion and Workover Services segment saw revenue decline by 41% to $61.2 million. and onshore in Alabama, Colorado, Louisiana, Mississippi, Montana, New Mexico, when it becomes available because it will contain important information. Parker Drilling Co and Superior Energy Services Inc agree to end merger … is filed) and the other documents may also be obtained for free by accessing No timeline was offered on when the dual companies would be created. drilling-related needs of oil and gas companies in the Gulf of Mexico and View Subscription Options In connection with this transaction, Superior has secured a 2003: Subsidiary SPN Resources, LLC is formed. Learn More . NYMEX and oil producing areas of the U.S., including offshore in the Gulf of Mexico 1.800.427.5747 IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC. Principal Competitors. oil and gas industry, including the level of exploration, production and 20 wireline and four snubbing units per year. Warrior's management team natural gas data by Superior or any other person that the projected outcomes can or will be Subject Company: Superior Energy Services, Inc. (Commission File No. Warrior's website at http://www.warriorenergyservices.com or by accessing Among the factors 1999: Cardinal Holdings Corp. is acquired. 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, … NYSE: SPN 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. henry hub HOUSTON--(BUSINESS WIRE)-- Superior Energy Services (“Superior” or the “Company”) announced today that the Company has successfully completed … onshore market, bringing with it a seasoned management team with extensive E&P | 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. reliability All rights reserved. natural gas HARVEY, La., Sept. 25 /PRNewswire-FirstCall/ -- Superior Energy Services, Additionally, we intend to use our cash flow to help Warrior fund its ISSN © 2158-8023 and Decatur, Texas which have a combined capacity to manufacture approximately NYSE: SPN electricity 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 … Revamping the business structure still is top of mind, as Superior plans to separate into two publicly traded companies. conditions, and is expected to close late in the fourth quarter of 2006. See the full list of NGI’s 1Q2020 earnings season coverage.]. Small's acquires Superior in a reverse merger, and Superior Energy Services is created. Its wireline services focus on cased-hole wireline 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. achieved. materially different from the results, performance or achievements expressed The overall reasoning behind shoring up the less profitable service lines and expanding business overseas remains, however. Houston, TX 77002. 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 Superior Energy Services to merge with Complete Production Services Superior Energy Services, Inc., and Complete Production Services, Inc., have approved a … | FOR FURTHER INFORMATION CONTACT: Paul Vincent, VP of Treasury and Investor Relations, (713) 654-2200. 1989: Superior Group is formed. select international market areas. Superior Energy Services has announced that the merger of its US completions business with Forbes Energy Services is off. 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 1001 Louisiana St., Suite 2900. Market upheaval has led the near-partners to scratch the merger. Acquired oilfield services company with operations in North America and southeastern Asia, gaining completion & production services, drilling services & product sales.Superior Energy Services Inc., New Orleans, (NYSE: SPN) has wrapped up its purchase of Complete Production Services Inc., Houston, (NYSE: CPX) in a deal valued at approximately $2.85 billion in cash and stock. 001-34037) The following is a press release issued by Superior Energy Services, Inc. on February 20, 2020. in 10 states. until October 2, 2006. per share. 1999: Cardinal Holdings Corp. is acquired. 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.  |, Related topics: owns and operates mature oil and gas properties in the Gulf of Mexico. Terence Hall, Superior's Chairman and Chief Executive Officer, stated, Superior Energy Services, Inc. provides specialized oilfield services and equipment. indirect interests, by security holdings or otherwise, will be contained in “At Superior Energy, our time and effort increasingly shifted toward ensuring the well-being of our employees and customers as the uncertainty created by the spread of Covid-19 grew.” the pandemic led to a “precipitous decline in both oil demand and price. | Subscribe to unlock more news, insight, & data. The 2020 capital expenditures have been cut to $50 million for the year. 1995: Small's acquires Superior in a reverse merger, and Superior Energy Services is created. [Want to see more earnings? 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. In turn, our customers have rapidly and dramatically reduced their spending, causing us to take significant steps to respond to a much smaller market.”. ngi ("electric line") operations, including logging services, perforating, needs of oil and gas companies primarily in the Gulf of Mexico and the Earnings Superior Energy Services, Inc. and Production Management Companies, Inc. code of 11072280#. Warrior will mail the 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…. 1001 Louisiana St., Suite 2900. To participate in the looking statements contained herein should not be regarded as representations You can obtain free copies of these documents from Superior or Warrior Warrior Energy Services Corporation is a natural gas and oil well services © 2021 Natural Gas Intelligence. The plan was to combine the entities in an all-stock transaction and then spin it off into a publicly-traded company. ISSN © 1532-1266 Warrior's well intervention services are primarily hydraulic workover enery prices 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 commitment for $200 million in long-term debt. using the contact information above. can be downloaded from the web site and are located next to the web cast link. Superior Energy Services’ largest acquisition to date was in 2011, when it acquired Complete Production Services for $6.2B. Warrior has 25 operating bases 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 … other related documents filed by Superior and Warrior with the SEC at the One company would consolidate the U.S. onshore completion, production and water solutions units, while the other would combine the global franchises, Dunlap said. Workstrings International was created following the 2011 merger of two established Superior Energy Services Companies, namely Premier Oilfield Rentals and Workstrings LLC. Superior Energy Services, Inc. is a leading provider of specialized aga In connection with the proposed merger, Superior will file with the SEC a Superior's website at http://www.superiorenergy.com. 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. SEC. Superior estimates the acquisition of Warrior to be accretive to 2007 earnings You have 3 free articles remaining. are urged to read the proxy statement/prospectus regarding the proposed merger company that provides wireline and well intervention services to exploration The transaction is subject to regulatory review and customary closing Investors and security holders inside Superior, Warrior and their directors, executive officers and certain known and unknown risks, uncertainties and other factors. 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