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Superior Energy Dumps Onshore Shale Biz, Targets Offshore & Intl

Superior Energy Services, based in Houston, Texas, is an oilfield services company with service lines including: rig services, coiled tubing, wireline, pressure control, flowback, fluid management and accommodations. Once upon a time Superior had a meaningful presence in the Marcellus/Utica. Superior just announced it is shedding its onshore shale business lines, separating them out and merging them with another company, Forbes Energy Services. What’s left of Superior will concentrate on offshore and international oil and gas markets.
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NYSE Suspends Superior Energy Stock Trading; OTC for Now

Superior Energy Services serves the drilling, completion and production-related needs of oil and gas companies worldwide through a number of subsidiaries including Wild Well Control, International Snubbing Services, and SPN Well Services. The New York Stock Exchange (NYSE) warned Superior in August that its share price had fallen below $1/share for more than 30 consecutive days and was in danger of delisting. Superior said at the time they have a plan to boost the per-share price. However, NYSE delisted their stock as of last Friday (six weeks later) and the stock now trades over-the-counter.
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Fracker Superior Energy Saying Goodbye to PA, Hello to TX

Earlier this week Superior Energy, a Houston, TX-based oilfield services company specializing in completions and fracking with operations in the Pennsylvania Marcellus, issued its 2016 update. In addition, yesterday Superior’s muckety-mucks hopped on a conference call with analysts to discuss 2016 (and fourth quarter) results. Of particular note and interest to MDN is that Superior said in the later half of 2016 they transitioned away from fracking wells in Pennsylvania, moving the equipment and expanding their fracking operations in the Permian Shale instead. It’s possible Superior still has, and will continue to maintain, some operations in the Marcellus (although they shut down a facility in PA). But the new operating strategy for Superior is, judging by both the update and the conference call, quite clear: the Marcellus is out and the Permian is in…
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