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Superior Energy Services Posts Record First Quarter 2007 Results
  Diluted EPS Increases Almost 100% While Non-Gulf of Mexico Revenue Doubles
                        From the First Quarter of 2006

HARVEY, La., May 2 /PRNewswire-FirstCall/ -- Superior Energy Services, Inc. (NYSE: SPN) today announced record net income of $64.0 million and diluted earnings per share of $0.78 on revenues of $362.9 million, as compared to net income of $32.2 million, or $0.40 diluted earnings per share on revenues of $222.5 million for the first quarter of 2006. The results also compare favorably to the fourth quarter of 2006, in which net income was $62.2 million and diluted earnings per share was $0.76, on revenues of $319.1 million.

Factors impacting the quarter as compared to the most recent quarter include the following:

     *  Well Intervention revenues increased 31% from the fourth quarter of
        2006 primarily due to a full quarter contribution from the Warrior
        Energy Services acquisition.
     *  Rental Tool revenues increased 9% from the fourth quarter of 2006,
        largely due to increased rental activity in Texas, the North Sea,
        Norway and West Africa market areas.
     *  Marine revenues decreased 10% from the fourth quarter of 2006 due to
        lower utilization as a result of poor weather in the Gulf of Mexico.
     *  Oil and Gas revenues decreased 8% from the fourth quarter of 2006 due
        mainly to lower oil and gas production.
     *  Revenue from non-Gulf of Mexico market areas was approximately
        $175 million as compared to approximately $139 million in the fourth
        quarter of 2006 and approximately $88 million in the first quarter of
        2006.
     *  The Company's earnings from its equity investment in Coldren Resources
        was negatively impacted by $3.3 million in unrealized losses from its
        oil and gas hedge positions as compared to $0.7 million in unrealized
        gains during the fourth quarter of 2006.

Terence Hall, Chairman and CEO of Superior, stated, "We are again pleased with our strong performance during the first quarter of 2007. Our growth strategy played out nicely during the period as some of our businesses accelerated while others remained seasonally slow before improving late in the quarter. As compared to last year's quarter, however, we grew EPS nearly 100% while doubling our non-Gulf of Mexico revenues. Also, our operating margins improved over last year and sequentially as a result of improved mix of production-related projects both through Warrior and through existing services internationally. We intend to continue to execute our geographic diversification strategy throughout 2007 and beyond."

Well Intervention Group Segment

First quarter revenues for the Well Intervention Group were a record $174.5 million, a 31% increase from the fourth quarter of 2006 and a 71% increase from the first quarter of 2006. Income from operations was $45.9 million, or 26% of segment revenue as compared to $28.7 million, or 22% of segment revenue, in the fourth quarter of 2006. Domestic land revenue increased due to a full quarter of revenues contribution from Warrior Energy Services. As a result, revenues and income from operations from coiled tubing, electric line and snubbing services increased. In addition, international revenues increased due to the ongoing derrick barge charter and construction in the Asia Pacific market area and increased well control activity. Sequential activity levels for the company's core production- related services were slightly lower due primarily to seasonal factors. However, activity for many of these services improved as the quarter progressed.

Rental Tools Segment

Revenues for the Rental Tools Segment were a record $118.6 million, 9% higher than the fourth quarter of 2006 and a 52% increase from the first quarter of 2006. Income from operations was $45.2 million, or 38% of segment revenue, up from $41.7 million, or 38% of segment revenue in the fourth quarter of 2006. Demand increased for rentals of stabilizers, drill collars, drill pipe, specialty tubulars and accessories. Geographic market areas showing the biggest improvements from the fourth quarter of 2006 were the North Sea, Norway and West Africa, and domestically in North Texas.

Marine Segment

Superior's marine revenues were $35.9 million, a 10% decrease from the fourth quarter of 2006 and a 19% increase from the first quarter of 2006. Income from operations was $16.5 million, or 46% of segment revenue, down from $19.2 million, or 48% of segment revenue in the fourth quarter of 2006. Average daily revenue in the first quarter was approximately $399,000, inclusive of subsistence revenue, as compared to $434,000 per day in the fourth quarter of 2006. The lower daily revenue was due to lower utilization primarily as a result of seasonal factors in the Gulf of Mexico. Average fleet utilization was 74% as compared to 80% in the fourth quarter of 2006 and 85% in the first quarter of 2006. The biggest utilization changes were primarily in the smaller liftboat classes. Utilization for the company's 10 larger liftboats (200 ft. of leg length and greater) increased to 89% from 86% in the fourth quarter of 2006.



           Liftboat Average Dayrates and Utilization by Class Size
                      Three Months Ended March 31, 2007
                                  ($ actual)

                                                    Average
                     Class          Liftboats       Dayrate     Utilization
                    145-155'             11         $11,638        65.2%
                    160'-175'             6          15,473        67.0%
                    200'                  5          20,295        86.7%
                    230'-245'             3          27,667        85.9%
                    250'                  2          39,069       100.0%


    Oil and Gas Segment

Oil and gas revenues were $37.0 million, an 8% decrease from fourth quarter 2006 levels and a significant improvement over the first quarter of 2006. Income from operations was $5.1 million, or 14% of segment revenue, down from $8.6 million, or 21% of segment revenue, in the fourth quarter of 2006. First quarter production was approximately 711,000 barrels of oil equivalent (boe), or about 7,900 boe per day, down from approximately 772,000 boe, or 8,400 boe per day in the fourth quarter of 2006.

Conference Call Information

The Company will host a conference call at 10 a.m. Central Time on Thursday, May 3, 2007. The call can be accessed from Superior's website at http://www.superiorenergy.com, or by telephone at 303-262-2175. For those who cannot listen to the live call, a telephonic replay will be available through Thursday, May 10, 2007 and may be accessed by calling 303-590-3000 and using the pass code 11088401#. An archive of the webcast will be available after the call for a period of 60 days on http://www.superiorenergy.com .

Superior Energy Services, Inc. serves the drilling-related needs of oil and gas companies primarily through its rental tools segment and the production-related needs of oil and gas companies through its well intervention, rental tools and marine segments. The Company uses its production-related assets to enhance, maintain and extend existing production and, at the end of a property's economic life, plug and abandon wells and decommission platforms and structures. Superior also owns and operates mature oil and gas properties in the Gulf of Mexico.

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which involve known and unknown risks, uncertainties and other factors. Among the factors that could cause actual results to differ materially are: volatility of the oil and gas industry, including the level of exploration, production and development activity; risks associated with the Company's rapid growth; changes in competitive factors and other material factors that are described from time to time in the Company's filings with the Securities and Exchange Commission. Actual events, circumstances, effects and results may be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Consequently, the forward- looking statements contained herein should not be regarded as representations by Superior or any other person that the projected outcomes can or will be achieved.



               SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
                    Consolidated Statements of Operations
                  Three Months Ended March 31, 2007 and 2006
              (in thousands, except earnings per share amounts)
                                 (unaudited)

                                                     Three Months Ended
                                                          March 31,
                                                    2007              2006

    Oilfield service and rental revenues          $325,895          $206,998
    Oil and gas revenues                            37,029            15,471
      Total revenues                               362,924           222,469

    Cost of oilfield services and rentals          142,429            93,255
    Cost of oil and gas sales                       18,058            14,205
      Total cost of services, rentals and sales    160,487           107,460

    Depreciation, depletion, amortization
     and accretion                                  38,844            22,915
    General and administrative expenses             50,859            37,651

    Income from operations                         112,734            54,443

    Other income (expense):
      Interest expense, net                         (8,278)           (4,844)
      Interest income                                  579               663
      Losses from equity-method investments         (5,006)              ---

    Income before income taxes                     100,029            50,262

    Income taxes                                    36,010            18,094

    Net income                                     $64,019           $32,168


    Basic earnings per share                         $0.79             $0.40

    Diluted earnings per share                       $0.78             $0.40

    Weighted average common shares used
      in computing earnings per share:
        Basic                                       80,632            79,639
        Diluted                                     82,156            80,988



               SUPERIOR ENERGY SERVICES, INC. AND SUBSIDIARIES
                         CONSOLIDATED BALANCE SHEETS
                     MARCH 31, 2007 AND DECEMBER 31, 2006
                                (in thousands)

                                                  3/31/2007        12/31/2006
                                                 (unaudited)        (audited)
    ASSETS

    Current assets:
      Cash and cash equivalents                    $31,986           $38,970
      Accounts receivable, net                     327,899           303,800
      Income taxes receivable                          ---             2,630
      Current portion of notes receivable           15,149            14,824
      Prepaid insurance and other                   49,712            59,563

            Total current assets                   424,746           419,787

    Property, plant and equipment, net             885,330           804,228
    Goodwill                                       462,231           444,687
    Notes receivable                                16,101            16,137
    Equity-method investments                       59,582            64,603
    Intangible and other long-term assets, net     126,754           125,036

            Total assets                        $1,974,744        $1,874,478


    LIABILITIES AND STOCKHOLDERS' EQUITY

    Current liabilities:
      Accounts payable                             $74,012           $65,451
      Accrued expenses                             130,480           141,684
      Income taxes payable                          23,476               ---
      Current portion of decommissioning
       liabilities                                  36,316            35,150
      Current maturities of long-term debt             810               810

            Total current liabilities              265,094           243,095

    Deferred income taxes                          121,586           112,011
    Decommissioning liabilities                     86,600            87,046
    Long-term debt                                 711,613           711,505
    Other long-term liabilities                     13,519            10,133

    Total stockholders' equity                     776,332           710,688

            Total liabilities and
             stockholders' equity               $1,974,744        $1,874,478



               Superior Energy Services, Inc. and Subsidiaries
                              Segment Highlights
   Three months ended March 31, 2007, December 31, 2006 and March 31, 2006
                                 (Unaudited)
                                (in thousands)

                                                  Three months ended,
                                            March 31,  December 31, March 31,
    Revenue                                   2007        2006        2006

    Well Intervention                       $174,548    $133,157    $102,073

    Rental tools                             118,563     108,526      77,774

    Marine                                    35,866      39,944      30,207

    Oil and Gas                               37,029      40,378      15,471

      Less: Oil and Gas Eliminations (2)      (3,082)     (2,929)     (3,056)

    Total Revenues                          $362,924    $319,076    $222,469



                                                   Three months ended,
                                             March 31,  December 31, March 31,
    Gross Profit (1)                           2007        2006        2006

    Well Intervention                        $80,556     $55,319     $42,073

    Rental tools                              81,532      75,935      53,476

    Marine                                    21,377      24,033      18,194

    Oil and Gas                               18,972      22,819       1,266

    Total Gross Profit                      $202,437    $178,106    $115,009

    (1)  Gross profit is calculated by subtracting cost of services from
         revenue for each of the Company's four segments.
    (2)  Oil and gas eliminations represent products and services from the
         company's segments provided to the Oil and Gas Segment.


     FOR FURTHER INFORMATION CONTACT:
     Terence Hall, CEO; Robert Taylor, CFO;
     Greg Rosenstein, VP of Corporate Development,
     504-362-4321

SOURCE Superior Energy Services, Inc.

CONTACT: Terence Hall, CEO, or Robert Taylor, CFO, or Greg Rosenstein,
VP of Corporate Development all of Superior Energy Services, Inc.,
+1-504-362-4321
Web site: http://www.superiorenergy.com
(SPN)