ADVISORY/Superior Signs Definitive Agreement to Acquire Assets of Power Offshore Service, LLC and Reeled Tubing, LLC; Company to Offer $200 Million of Senior Notes
--(BUSINESS WIRE)--
Superior Energy Services, Inc. (Nasdaq:SESI) today announced it has signed a definitive agreement to acquire the assets of Power Offshore Service, LLC, and Reeled Tubing, LLC, which include eight liftboats, 21 coiled tubing units and related equipment. In addition, Superior intends to offer $200 million of new Senior Notes due 2011 through a private placement under Rule 144A of the Securities Act of 1933, as amended.
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