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Superior Energy Services, Inc. Announces Completion of Exchange Offer for its $800.0 million 7.125% Senior Notes due 2021

HOUSTON, Aug. 30, 2012 /PRNewswire/ -- Superior Energy Services, Inc. (NYSE: SPN) announced today that SESI, L.L.C. ("SESI"), a direct, wholly-owned subsidiary of the Company, has completed its offer to exchange $800.0 million aggregate principal amount of its 7.125% Senior Notes due 2021 (the "Exchange Notes"), which have been registered under the Securities Act of 1933, as amended, for the same principal amount of its outstanding unregistered 7.125% Senior Notes due 2021 (the "Unregistered Notes").

At the expiration of exchange offer, on August 22, 2012 at 5:00 p.m., New York City time, approximately 99.8% of the Unregistered Notes had been tendered and received.  SESI has accepted for exchange all Unregistered Notes validly tendered and not withdrawn prior to the expiration of the exchange offer.

The Exchange Notes are identical in all material respects to the Unregistered Notes, except that the Exchange Notes have been registered with the Securities and Exchange Commission and are not subject to the transfer restrictions and registration rights that related to the Unregistered Notes.  The Unregistered Notes that were not tendered upon the closing of the exchange offer will remain subject to such transfer restrictions.

This press release is not an offer to buy, sell or exchange or the solicitation of an offer to buy, sell or exchange any of the securities described herein, nor shall there be any offer, solicitation or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

David Dunlap, President and CEO (281) 999-0047;
Robert Taylor, CFO or Greg Rosenstein, EVP, (504) 587-7374

SOURCE Superior Energy Services, Inc.