Thursday June 18, 7:55 pm Eastern Time
Company Press Release
SOURCE: Superior Energy Services, Inc.
Superior Responds to Stock Activity
HARVEY, La., June 18 /PRNewswire/ -- Superior Energy Services, Inc. (Nasdaq: SESI -
news) today issued the following:
Noting the recent downward movement of the Company's stock, Terence E. Hall,
President and Chief Executive Officer, attributed the movement to several recently
issued analysts' reports that lowered earnings estimates for the Company that such
analysts had previously published. While noting the reduced estimates, Mr. Hall
reiterated that it has not been the Company's practice to comment on analysts' reports
or recommendations or to announce estimates of the Company's future earnings, and
that the Company is not prepared to change that practice at this time.
Mr. Hall also noted that the Company's business is not immune to industry- wide events,
including the recent drop in oil prices, and any resulting softness in the demand for
services from oilfield services companies by the major and independent oil and gas
companies active in the Gulf of Mexico. The Company has not experienced any
significant decline in its business. Management believes that the Company should not
be more adversely impacted than other similarly situated service providers and that its
fundamental business remains strong.
Superior Energy Services, Inc. provides a broad range of specialized oilfield services
and equipment primarily to major and independent oil and gas companies engaged in
the exploration, production and development of oil and gas properties offshore in the
Gulf of Mexico and throughout the Gulf Coast region. These services and equipment
include the rental of specialized oilfield equipment, oil and gas well plug and
abandonment services, electric and mechanical wireline services, the manufacture, sale
and rental of drilling instrumentation and the manufacture and sale of oil spill
containment equipment.
SOURCE: Superior Energy Services, Inc. |
