SPN - Superior Energy Services, Inc.

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Superior Energy Services, Inc. provides specialized oilfield services and equipment to crude oil and natural gas exploration and production companies in the United States, the Gulf of Mexico, and internationally. It operates through four segments: Drilling Products and Services; Onshore Completion and Workover Services; Production Services; and Technical Solutions. The Drilling Products and Services segment rents tubulars, including primary drill pipe strings, tubing landing strings, completion tubulars, and associated accessories; and manufactures and rents bottom hole tools, such as stabilizers, non-magnetic drill collars, and hole openers, as well as rents temporary onshore and offshore accommodation modules and accessories. The Onshore Completion and Workover Services segment offers pressure pumping services comprising hydraulic fracturing and high pressure pumping services used to complete and stimulate production in new oil and gas wells; fluid management services used to obtain, move, store, and dispose of fluids that are involved in the exploration, development, and production of oil and gas reservoirs; and workover services consisting of installations, completions, and sidetracking of wells, as well as support for perforating operations. The Production Services segment provides intervention services, including coiled tubing, cased hole and mechanical wireline, hydraulic workover and snubbing, production testing and optimization, and remedial pumping services. The Technical Solutions segment offers pressure control services; completion tools and services, such as sand control systems, well screens and filters, and surface-controlled sub surface safety valves; and offshore well decommissioning services, including plugging and abandoning wells at the end of their economic life, and dismantling and removing associated infrastructure. Superior Energy Services, Inc. was founded in 1991 and is headquartered in Houston, Texas.

 

Superior Energy reports 3Q loss
HOUSTON (AP) _ Superior Energy Services Inc. (SPN) on Monday reported a loss of $118 million in its third quarter.

On a per-share basis, the Houston-based company said it had a loss of 78 cents. Losses, adjusted to account for discontinued operations and restructuring costs, were 73 cents per share.

The results fell short of Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for a loss of 57 cents per share.

The oilfield services company posted revenue of $326.2 million in the period, which also did not meet Street forecasts. Ten analysts surveyed by Zacks expected $353.1 million.

Superior Energy shares have increased 38 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.55, an increase of 18 percent in the last 12 months.