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 5, 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 5, 2000, Superior Energy Services, Inc. (the "Company"),
announced that it had closed its previously announced offering of common
stock. The Company sold 7,300,000 shares at $9 per share, including
950,000 shares sold pursuant to the underwriter's over-allotment option.
The offering was underwritten by Johnson Rice & Company L.L.C.
The offering generated approximately $63.2 million in net proceeds to
the Company, which will be used to repay amounts owed under its revolving
credit facility, to fund acquisitions and for general corporate purposes
On May 5, 2000, the Company issued a press release announcing the
offering, which is included as Exhibit 99 to this Form 8-K and incorporated
herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Exhibits.
99 Press release issued by Superior Energy Services, Inc. on
May 5, 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
---------------------------------
Robert S. Taylor
Chief Financial Officer
Dated: May 5, 2000
EXHIBIT 99
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 SERVICES, INC. CLOSES $63.2 MILLION EQUITY
OFFERING; OVER-ALLOTMENT OPTION EXERCISED
(Harvey, LA, May 5, 2000) Superior Energy Services, Inc. (NASDAQ: SESI)
announced today that it has closed its previously announced offering of
common stock. The Company sold 7,300,000 shares at $9 per share, including
950,000 shares sold pursuant to the underwriter's over-allotment option.
The offering was underwritten by Johnson Rice & Company L.L.C.
The offering generated approximately $63.2 million in net proceeds to the
Company that will be used to repay amounts owed under its revolving credit
facility, to fund acquisitions and for general corporate purposes
Superior 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 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, coil tubing services, engineering
services, the manufacture, sale, and rental of drilling instrumentation,
and the manufacture and sale of oil spill containment equipment. Superior
is headquartered in Harvey, Louisiana.
This news release contains forward-looking statements under the Private
Securities Litigation Reform Act of 1995. Although Superior believes that
these statements are based upon reasonable assumptions, the companies can
give no assurance that these expectations will be achieved. Actual results
may differ materially due to various risks and uncertainties which are
outside the control of Superior, such as market prices of oil and gas, the
volatility of such prices, governmental regulation and trade restrictions,
worldwide economic activity and political stability in major oil producing
areas.