UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 4, 2000
SUPERIOR ENERGY SERVICES, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-20310 75-2379388
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1105 Peters Road, Harvey, Louisiana 70058
(Address of principal executive offices) (Zip Code)
(504) 362-4321
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS.
On May 4, 2000, Superior Energy Services, Inc. issued the press
release attached hereto as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(b) Exhibits.
99 Press release issued by Superior Energy Services, Inc. on
May 4, 2000 announcing results for the first quarter of
2000.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
SUPERIOR ENERGY SERVICES, INC.
By: /S/ Robert S. Taylor
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Robert S. Taylor
Chief Financial Officer
Dated: May 4, 2000
EXHIBIT 99
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FOR IMMEDIATE RELEASE
FOR FURTHER INFORMATION CONTACT:
Superior Energy Services, Inc.:
Terence E. Hall, CEO;
Robert Taylor, CFO;
Greg Rosenstein, Investor Relations,
504-362-4321
SUPERIOR ENERGY ANNOUNCES FIRST QUARTER 2000 RESULTS
(Harvey, LA, Thursday, May 4, 2000) Superior Energy Services, Inc. (NASDAQ:
SESI) today announced earnings for the first quarter ended March 31, 2000.
For the quarter, revenues were $47.3 million resulting in net income of
$1.6 million or $0.03 diluted earnings per share.
"After a relatively slow start to the year due to weather and other
external factors, activity increased steadily in March," said Terry Hall,
President and CEO of Superior. "The rental tools and wireline groups
offset weakness in our marine services group during the first quarter. I
am encouraged that the increased demand in March has carried over into
April and early May throughout all of our divisions. I believe Superior is
well positioned to capitalize on increasing drilling and production-related
activities in the Gulf of Mexico."
As a result of the merger with Cardinal Holding Corp. in July 1999, and the
acquisition of Production Management Companies in November 1999, analysis
and comparison of the first quarter 1999 results with the first quarter
2000 results will be difficult given the fact that all historical numbers
presented herein for periods prior to July 15, 1999 represent the results
of Cardinal on a stand alone basis.
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 natural gas properties offshore in the Gulf of Mexico and throughout
the Gulf Coast region. These services and equipment include the rental of
liftboats, rental of specialized oilfield equipment, electric and
mechanical wireline services, well plug and abandonment services, coiled
tubing services and engineering services. Additional services provided
include contract operating and supplemental labor, offshore construction
and maintenance services, offshore and dockside environmental cleaning
services, the manufacture and sale of drilling instrumentation and the
manufacture and sale of oil spill containment equipment.
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.